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Commercial Bank of Ceylon wants to expan...

The Sri Lanka-based Commercial Bank of Ceylon PLC (CBC) wants to expand SME (small and medium enterprise) lending in Bangladesh with an aim to migrate small businesses to corporate status. The bank that has focused on trade and finance will now strengthen retail banking amid rising spending power of consumers. CBC Bangladesh started its operation […]

Paytm Payments Bank: What an RBI order m...

All existing users of Paytm UPI, Paytm Wallet, Paytm FASTag and bank accounts can continue to use these instruments, including debit cards and online banking, for payments, according to One97 Communications. Paytm Payments Bank was incorporated in August 2016 and officially started operations in May 2017 from a branch in Noida. The Reserve Bank of […]

Blocking of Mastercard and Visa in Russi...

Consumers will still be able to use Mastercard and Visa-branded cards for domestic transactions in Russia, the country’s state-backed payments network has said, reducing the impact of US companies’ decision to withdraw services following a the invasion of Ukraine. Russian payment system Mir said cardholders always be able to access their fundsmake domestic withdrawals and […]

US concerned about ‘abuses’ of Lebanese

A U.S. Treasury delegation has urged Lebanese authorities to open investigations into what it described as abuses within Lebanon’s banking system by members of the political and economic elite, the U.S. Treasury said on Wednesday. The unusually candid statement released after a three-day visit to Beirut by a high-level delegation did not specify which members […]

Why Nigeria, Others’ Sovereign Debt Dist

Due to the increase in public debt held by Nigeria and other emerging economies, the IMF has warned that the sovereign debt crisis could spread to banks, pension funds, households and others. segments of the national economy. This was revealed by the International Monetary Fund in a report titled “SHEDDING LIGHT ON DEBT” According to […]

Western energy and banking giants pull o...

People line up to use an ATM in St. Petersburg, Russia, /Reuters/Anton Vaganov People line up to use an ATM in St. Petersburg, Russia, /Reuters/Anton Vaganov Energy giant BP, global bank HSBC and the world’s largest aircraft leasing company AerCap joined a growing list of companies seeking to leave Russia on Monday as Western sanctions […]

Russia retaliates by confiscating funds ...

Russia would retaliate for the seizure of money from Russian citizens and businesses abroad by seizing funds from foreigners and foreign businesses in Russia, Dmitry Medvedev, deputy head of the Security Council, said on Saturday, according to the RIA news agency. According to Medvedev, Moscow does not rule out nationalizing the assets of companies registered […]

Sanctions will test Russia’s ‘fortress’

Since 2014, when the United States and its Western allies imposed sanctions on Moscow following the annexation of Crimea and the downing of Malaysian Airlines Flight 17, the Russian president has been trying to build an economy that can withstand much harsher penalties. Fear of what sanctions could do sent Russian stocks tumbling 33% on […]

Encourage domestic investment (2) – Punc

Published February 21, 2022 Investment remains the foundation of growing economies, regardless of the stage of development. Of course, advanced countries have understood and confirmed for a long time that investment in human capital is the most important. Indeed, the improvement in labor productivity, which also has a positive impact on the productivity of capital, […]

Banking, a sector that is quick to emerg...

Profits hit a record high just a year after the Covid-19 pandemic brought economic activities to a halt. [iStockphoto] Winston Churchill made a famous observation during the darkest days of World War II: Never let a good crisis go to waste. For Kenyan banks, this rings true. It has become an industry that recognizes a […]

Russia Passes Law Allowing State to Seiz...

Russia’s State Duma, the lower house of parliament, has passed a law allowing law enforcement authorities to seek the confiscation of funds obtained illegally from government officials, including cryptocurrency. The state can try to seize the assets through a court if they exceed the income of officials. New Law Allows Russia to Prosecute Officials With […]

Mobile banking adoption increases to 58%

Currencies Mobile banking adoption increases to 58% Friday, February 18, 2022 Signage shows branch banking and mobile money services in a Nyeri store. PICTURES | JOSEPH KANYI | NMG By Edna MwendaMore from this author Summary A customer satisfaction survey conducted by the Kenya Bankers Association (KBA) revealed that mobile banking was the most preferred […]

Biden’s decision on frozen funds stokes

KABUL, Afghanistan — Many Afghans have expressed outrage at the Biden administration’s decision to divert billions in frozen Afghan central bank assets to American families of 9/11 victims as Afghanistan sinks deeper more and more in economic disaster. The move, which would effectively bankrupt the country’s central bank, adds to the growing animosity many Afghans […]

Internet banking is thriving | The star...

The shift from manual banking to its digital means is certainly not a new phenomenon for the banking industry in Bangladesh. But the advent of the coronavirus pandemic has caused customers from all walks of life to focus on online banking to reduce the risk of contracting the deadly flu. Transactions through online banking stood […]

The CAP-F and the drive to boost private...

Between 2016 and 2018, Africa imported around 85% of its food from outside the continent, according to the United Nations Conference on Trade and Development (UNCTD). The cost of this was enormous; some $35 billion in rare currencies. If you think it was bad, we’ve only just started. This cost is expected to reach $110 […]

The Fed can’t get a head start

New rules the Federal Reserve released in October to crack down on stock trading by board governors, regional presidents and senior executives seemed like a neat little bow to address a then-burgeoning scandal that, less than a month earlier had played a role in the resignation. leaders of the central bank’s Boston and Dallas satellites. […]

Nigeria: Ministry of Finance, CBN and ot...

The Federal Ministry of Finance, the Central Bank of Nigeria (CBN), the Office of the Accountant General of the Federation and other agencies of the Federal Government yesterday voiced their support for the House of Representatives inquiry into the unclaimed funds in commercial banks as well as on unremitted funds. funds collected on behalf of […]

Foreign banks face bigger capital bill u...

Foreign banks based in the European Union may have to hold more capital and liquidity under revisions to rules being considered by member states of the bloc, according to an EU document. Authorities in Brussels are seeking to classify more foreign banks as subsidiaries rather than branches, a change that would force them to strengthen […]

Government allows exporters to make equi...

Bangladeshi exporters will now be able to make equity investments overseas, subject to an adequate balance of their Export Retention Quota (ERQ) – a portion of the export earnings they have saved in the form of foreign currency . Exporters will be able to invest, in the form of equity, the lowest amount between 20% […]

FAB Reports 19% Increase in Net Income t...

First Abu Dhabi Bank (FAB) reported net profit of AED12.5 billion ($3.4 billion) for the full financial year ended December 31, 2021, compared to AED10.6 billion in 2020 , an increase of 19% year-on-year. . Group revenue rose 17%, supported by strong business performance and growth in fee-earning activities, helping to offset headwinds from low […]

RBZ takes on $3.8 billion debt in blocke...

TATIRA ZWINOIRATHE Zimbabwean government opened the year by assuming new debt for 855 companies amounting to $3.8 billion in frozen funds that the central bank did not help repatriate out on behalf of these companies. The assumption of debt by the Treasury was done through Act No. 7 of 2021 which gives legal effect to […]

Corruption damages the nation’s image an

Federation Government Secretary (SGF) Boss Mustapha inaugurated the 23-member Economic and Financial Crimes Commission (EFCC) Board of Directors, with a charge for members to do their best to fight against the hydra-headed monster called Corruption. He also said that financial crimes were damaging the country’s image in the world and depriving it of foreign direct […]

SCB publishes rules for electronic issua...

Riyadh — The Central Bank of Saudi Arabia (SAMA) has announced the publication of rules governing the electronic issuance and verification of the authenticity of bank documents. This is part of its ongoing efforts to improve the quality and efficiency of electronic services provided to banking customers. The aim is to facilitate financial transactions, save […]

Actors: January 10-16, 2022 | Springfie...

Bank and financePromoted Guarantee Bank Carrie Eakins to the Deputy Director of Retail Banking at his Farmers Park branch. She started her career as a bank teller in 2017 and was promoted to representative of market agency bankers in 2019 and specialist of market agency bankers in early 2021. Central Bank of the Ozarks added […]

Central bank authorizes banks to use loc...

Amid a severe shortage of loanable funds in the banking sector, Nepal Rastra Bank on Monday opened the door for commercial banks to account for up to 80 percent of local government reserve funds deposited in commercial banks. as deposits. The central bank has also paved the way for banks to use these funds for […]

Deadline for filing the life certificate...

Retiree Life Certificate Submission Deadline Extended to February 28 | Photo credit: BCCL New Delhi: The government has extended the period for submitting the life certificate for central government retirees until February 28, 2022, following the Covid-19 pandemic. “In view of the ongoing Covid-19 pandemic in various states and given the vulnerability of the elderly […]

SEBI asks mutual funds not to invest in ...

SEBI Chairman Ajay Tyagi has said that until government policy is clear it would not be ideal to invest in crypto. Indian market regulator SEBI has advised domestic mutual funds to defer investing in crypto assets until its regulatory framework is clarified. At a press conference on Tuesday, the chairman of the Securities and Exchange […]

SEBI asks mutual funds to refrain from c...

Last month, Invesco Mutual Fund suspended the launch of its blockchain fund in India Government expected to table cryptocurrency bill during current winter session of parliament Bill should recognize cryptocurrencies as an asset class and ban their use as currency Securities and Exchange Board of India (SEBI) Chairman Ajay Tyagi has said that mutual funds […]

Qatar’s banking sector shows resilience,

Qatar’s banking sector has shown resilience and recorded impressive business growth in 2021, driven by the need to continue supporting the country’s future ambitions.The measures taken by the Central Bank of Qatar (QCB) have allowed the quality of the banking sector’s assets to be monitored this year.Total assets of Qatari banks grew 0.2% month-on-month (MoM), […]

Bank of Russia wants to restrict crypto ...

The Central Bank of Russia is currently examining various ways to prevent Russians from investing in cryptocurrency. One of the options on the table is to block card payments to certain recipients such as crypto exchanges, a media report has revealed. A recent meeting in the State Duma, however, indicated that the authority’s intransigent position […]

Rtl today – banking system crippled: run

Afghan businessman Shoaib Barak struggles to pay his workers and suppliers, unable to access funds from a banking system crippled by the country’s assets frozen abroad. They, in turn, cannot pay their bills – and so the country’s economic woes reverberate and hurt everyone along an unbroken chain of misery. “I am very ashamed,” said […]

Nigeria Mutual Funds Attract N1.29tr Inv...

Investors in the Nigerian capital market invested 1.291 trillion naira in Nigerian mutual funds called collective investment schemes in 2021. Collective investment funds, also known as mutual funds, are joint investment vehicles through which investors pool funds and invest in a selected basket of securities in order to maximize returns and reduce the risks. Mutual […]

The bank covers the nation but loots

The banking network has covered the country for the past 50 years, but the culture of defaulting loans in the system has become a major problem as people with political clout continue to plunder the industry. Even as delinquent and non-performing loans are on the rise, the government and the central bank have done little […]

will rising interest rates increase the ...

Interest rate hikes to curb inflation are widely anticipated in 2022. They could have a major impact on the foreign exchange market. The US Federal Reserve (Fed) announced on December 15 that it would “reduce the monthly pace of its net asset purchases by $ 20 billion for Treasury securities and $ 10 billion for […]

MARKETS: Sensex at daily low; the banks...

Markets at 2:30 p.m. Live market updates: Major benchmarks were slightly in the red during late noon trades. BSE Sensex lost 91 points to 58,026 and NSE Nifty lost 37 points to 17,288. The broader indices were mixed – the BSE Midcap index was down 0.3%, while the Smallcap index was up 0.2 percent. Among […]

What will be the impact on debt funds?

On December 8, the Reserve Bank of India (RBI) Monetary Policy Committee (MPC) left policy rates unchanged and persisted in its dovish stance, citing uncertainty around the new variant of Covid. This is the ninth consecutive policy meeting in which the rate-setting group has maintained key rates. The MPC kept the repo rate (the rate […]

Russell Investments strategists see mode...

SEATTLE – (COMMERCIAL THREAD) – Russell Investments strategists predict 2022 to be a year of moderation for economic growth, inflation and returns on investment, and they believe the global economy is poised for another year of growth. Overall, the team’s Global Market Outlook 2022 maintains a moderately positive medium-term view for global equities. “After a […]

Powell’s warning: Fed to tighten credit

By CHRISTOPHER RUGABER, economic editor of the AP WASHINGTON (AP) – Federal Reserve Chairman Jerome Powell on Tuesday took a sudden and unexpected turn to tighten consumer and business credit amid growing concerns over high inflation. Powell has signaled that the Fed will likely move faster to phase out its ultra-low interest rate policies even […]

Explained: Why RBI Has Suspended Large F...

The Reserve Bank of India (RBI) has kept in limbo its internal task force (IWG) proposal to license large companies to banking amid fears about connected loans and personal transactions if they are authorized in the banking area. What is the big concern? While the main argument in favor of allowing the presence of companies […]

BSEC supports the exclusion of bond inve...

FE REPORT | Posted: Nov. 28, 2021, 8:29 a.m. | Update: Nov. 28, 2021, 4:45 p.m. The securities regulator is reportedly asking Bangladesh Bank (BB) to exclude banks’ investments in perpetual bonds from their exposure to the stock exchange, to an extent intended to increase the supply of liquidity in the capital market. Sources say […]

Exclusion of companies from the banking ...

MUMBAI: The Reserve Bank of India’s decision to keep businesses away from banking licenses will help the government avoid allegations that it is selling banks to large corporations. However, the number of potential buyers for public sector banks (PSBs) will decrease. In the absence of any deep-pocketed corporate house, bidders for PSU banks would have […]

Chinese economy: what future for the Asi...

Despite economic growth projections of 8% this year, China is struggling to overcome many economic challenges on its own. The debt problems of the country’s largest real estate developers – led by China Evergrande, which owes more than $ 300 billion (266 billion euros) – threaten to explode the real estate market. New home sales […]

Binance in talks with sovereign wealth f...

Binance is in talks with sovereign wealth funds to take a stake in the world’s largest cryptocurrency exchange, as it seeks to strengthen relationships with governments and compensate aggressive regulators, its CEO says . The stock market has faced increasing pressure from regulators this year and believes that investments by sovereign wealth funds would help […]

Kim Kardashian West finances British rob...

Members of the Afghan women’s youth development football team were airlifted to the UK on an evacuation flight funded by US reality TV star Kim Kardashian West. The 35 players and their families, 130 in total, touched down at Stansted Airport shortly before 4 a.m. today, according to the ROKiT Foundation. We are very proud […]

Fund managers more optimistic about glob...

Investors are now more optimistic about global growth and earnings expectations after expressing pessimism last month, according to the results of Bank of America’s November survey of global fund managers. Of the 388 fund managers surveyed, who oversee a total of $ 1.2 trillion in assets, global growth expectations improved to 3% net in November, […]

Wall Street Banks Intensify Preparations...

NEW YORK (Reuters) – Wall Street banks are stepping up preparations for the Federal Reserve’s withdrawal of pandemic stimulus measures to ensure they are able to handle spikes in market volatility, help clients manage risk – and make a profit. While the Fed is expected to officially announce on Wednesday that it will begin cutting […]

Government delays increase in domestic l...

Last year, the government started raising internal borrowing in early October. But this year, as the month draws to a close, the government has yet to decide when domestic debt will be increased. The government of Sher Bahadur Deuba has reduced internal loans to be raised in the current fiscal year to 239 billion rupees […]

Swiss National Bank excludes green crite...

ZURICH (Reuters) – The Swiss National Bank (SNB) must retain flexibility on how it invests its huge reserve of foreign currency, board member Andrea Maechler said on Wednesday, warning that a shift to investments only greens would harm its monetary policy. FILE PHOTO: Andrea Maechler, Board Member of the Swiss National Bank (SNB), addresses the […]

eNaira will help fight illicit fund flow...

Of Juliana Taiwo-Obalonye, ​​Abuja President Muhammadu Buhari expressed hope that the recently launched eNaira would stimulate and reposition the Nigerian economy to attract investors. He also said that the Treasury Single Account (TSA), Bank Verification Number (BVN) and National Identification Number (NIN) initiatives have bolstered his administration’s anti-corruption efforts. Speaking at the fifth edition of […]

Banks Must “Relentlessly” Focus on Corpo

Looking back, as they say, it’s 20/20. And hindsight In regards to 2020 – well, that’s a whole different thing. After the initial wild ride of the great digital hub, the compressed timeframe where years of innovation have been accelerated and embraced within months, it’s finally time to take stock and think about what could […]

Gulf states’ appetite for investment in

Already able to make the most of moving supply chains and low-cost manufacturing away from hubs in Asia, Turkey – and its historic Istanbul financial center project – would now be firmly on the market. Gulf investor radar. The signals come amid a rapprochement and efforts to re-establish ties between Turkey and some Gulf states, […]

Osinbajo and Emefiele Seek Investments i...

Yesterday Vice President Yemi Osinbajo, Central Bank of Nigeria (CBN) Governor Godwin Emefiele and Lagos State Governor Babajide Sanwo-Olu pleaded for increased investment in the health sector to reduce the 6 billion naira spent. on medical tourism every year. The trio made the call in Lagos at the inauguration of Duchess International Hospital, a multi-million […]

Central bank suggests Padma seeking fore...

The Bangladesh Bank has suggested that Padma Bank – formerly Farmers Bank – vigorously seek foreign investment to finance its activities. In a letter to the Financial Institutions Division on October 5, the central bank said it would be best if Padma Bank could fill its capital gap by bringing in investment from abroad. Earlier […]

Collection of funds should be the top pr...

Important work was pending, and “Everyone” thought “Someone” would do it. “Anyone” could have done it, but “Nobody” did. “Someone” got angry, because that was “Everyone’s” job. “Everyone” thought “Anyone” could do it, but “Nobody” realized that “Everyone” wouldn’t. It ended with “Everybody” blaming “Somebody” while “Nobody” did what “Anybody” could do. This old satirical […]

The PBoC drains most of the liquidity in...

(MENAFN- Gulf Times) China drained the most short-term liquidity from the banking system in a year on a net basis as it slashed support after a week of vacation. Government bond futures have slipped the most since August.The People’s Bank of China offered 10 billion yuan ($ 1.6 billion) in short-term funds to lenders, resulting […]

Citi Launches New Holistic Digital Polic...

LONDON–(COMMERCIAL THREAD) – Citi today launched its latest Global Perspectives & Solutions (Citi GPS) report titled HOLISTIC DIGITAL POLICY – Nation states must lead the way in building equitable, human-centered digital economies. The report outlines a number of focus areas designed for countries and governments to assist them in the process of transitioning to a […]

Can Newly Approved ‘Bad Bank’ Solve Indi

Through Nicolas larsen, international banker OOn September 15, the Indian government approved the extension of a guarantee worth 30.6 billion rupees (US $ 4.1 billion) to the National Asset Reconstruction Company Ltd. (NARCL) – also known as “bad bank”. The measure is seen as a way for India’s banking sector to get rid of much […]

Swiss regulator approves first crypto in...

Safe and sound money © 2014 Bloomberg Finance LP The Swiss financial regulator has issued two approvals for a national cryptocurrency investment fund and a national digital asset custody service, just days after the Chinese central bank claimed that bitcoin and other financial blockchains posed a threat to economic stability. The Federal Financial Market Supervisory […]

The influx of more than 670 million BAM ...

The inflow of foreign direct investment in Bosnia and Herzegovina in 2020 was BAM 678.2 million, according to data from the Central Bank of Bosnia and Herzegovina (CBBH), which released the results of the statistical survey. on foreign direct investment for 2020. In terms of geographic distribution, the largest influx of investments in 2020 came […]