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Why shadow banking reforms matter
Apr27

Why shadow banking reforms matter

A CFA Institute study called (27 April 2015) for standardisation, simplification and transparency within the shadow banking sector to support the healthy functioning of the capital markets. Shadow banking usually is defined as a term for the cluster of non-bank financial intermediaries that provide services similar to traditional commercial banks. Former US Federal Reserve Chair Ben Bernanke famously defined shadow banking in April...

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Bank of Beirut, 2 employees fined by FCA
Mar05

Bank of Beirut, 2 employees fined by FCA

The Bank of Beirut (UK) Ltd (Bank of Beirut) has been fined GBP 2.1 million by the Financial Conduct Authority and stopped from acquiring new customers from high-risk jurisdictions for 126 days, FCA said. In addition, the regulator said it has fined two approved persons at the bank. Bank of Beirut has European operations in London and Frankfurt, as well as other international operations in Cyprus and Australia. The FCA said that Bank...

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Egypt wins stable, long-term rating
Feb27

Egypt wins stable, long-term rating

Egypt’s Long-Term Foreign and Local Currency Sovereign Ratings of ‘B-’ and its Short-Term Foreign and Local Currency Ratings of ‘B’ have been affirmed in rating action by Capital Intelligence (CI) , the international credit rating agency based in Cyprus. CI also affirmed the outlook for Egypt’s ratings as ‘Stable’. CI said the affirmation of Egypt’s ratings takes into account: (a) the stabilisation of short-term financing...

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EBRD sees ‘strong’ investment in 2015
Feb25

EBRD sees ‘strong’ investment in 2015

The European Bank for Reconstruction says it is looking forward to another year of strong investment in 2015 and will continue to provide support for countries across its region of operations in the face of persistent economic challenges. The EBRD is owned by 64 countries, the European Union and the European Investment Bank. Demand for EBRD finance is expected to remain high, the bank said, after investment rose to Euro 8.9 billion in...

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Fitch sees HSBC rating under likely pressure
Feb13

Fitch sees HSBC rating under likely pressure

An international scrutiny of HSBC’s alleged role in tax avoidance or tax evasion poses risks including potential pressure on the bank’s ‘AA-‘/Stable ratings, Fitch Ratings said 12 February 2015. Fitch Ratings-Hong Kong/London-12 February 2015: Publication of historical details on client transactions at HSBC’s Swiss private banking subsidiary and the allegations the bank helped clients evade tax highlights...

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Rabobank, G&D and Samsung collaborate in mobile wallet
Feb13

Rabobank, G&D and Samsung collaborate in mobile wallet

Dutch Rabobank is offering customers a mobile wallet developed by Munich-based technology group Giesecke & Devrient, hailed as ‘ground breaking’ for mobile payments and mobile value added services. The Convego AppWorld solution for smartphones can be used in shops equipped with contactless terminals to pay for shopping and checking balances and to redeem digital vouchers via Near Field Communication (NFC). The Rabo...

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