Governance
Malaysia’s Ibrahim proposes audit enhancements
Bank Negara Malaysia governor says audit faces new challenges and should cover broader risks, while expanding its scope to include “strategic auditing”
Goldfajn faces independence test
Ilan Goldfajn has abundant technical skills required to run Brazil's central bank. But he could face similar political pressures as his predecessor at a troubled time for the Brazilian economy.
People: BNM picks new assistant governor; Charlie Bean nominated to OBR post
Markets specialist takes over assistant governor role at Malaysian central bank; former BoE deputy to sit on budget oversight committee; new head of monetary policy research in Israel; and more
Anti-corruption unit investigates Curaçao and Sint Maarten central bank president
Anti-corruption unit conducts raid on Emsley Tromp’s home, confiscating documents and data carriers; investigation launched by finance minister on the back of ‘rumours and innuendos’
Auditors ‘key’ in strengthening corporate governance, says Mauritian deputy
Deputy governor examines difference between supervision models; under ”four lines of defence” model, auditors provide ”autonomous assessment” of previous three lines
Bank of Italy to receive €1bn for liquidating holding in equity firm
Italy’s central bank will gain about €1bn for liquidating its shareholding in an equity firm partly owned by the Italian state; holding began after the firm transferred stake in insurer
Bank of Thailand's Veerathai on the Thai economy, governance and payment reform
Bank of Thailand's governor speaks to Christopher Jeffery about the resilience of the Thai economy, governance and payments infrastructure reforms, plus why he does not agree with the IMF
Rajan hopes new MPC will make next RBI policy statement
Reserve Bank of India keeps rates on hold in Rajan’s last decision before stepping down; he hopes the monetary policy committee will be up and running by next decision in October
Bank of Mauritius governor examines human capital problem
Human resource managers face ‘daunting challenge’, says Basant Roi while emphasising people need to have ‘extraordinary qualities’
Central banks must better manage tensions over their autonomy
Kingsley Moghalu says emerging market central banks need to strike a difficult balance between autonomy and legitimacy – but the government must play a role as well
Sarb fines five banks for weaknesses in ‘control measures’
Investec Bank fined largest amount at 20 million rand; local branch of Standard Chartered faces 10 million rand penalty a month after another branch was reprimanded by MAS
Philippines central bank fines RCBC over Bangladesh heist
Rizal Commercial Banking Corporation ordered to pay one billion pesos, after stolen funds from Bangladesh bank were transferred to four accounts held at the institution
Sri Lanka releases trading stats as it seeks to develop market
First set of data shows 3.42 billion rupees traded, with transactions over 50 million rupees to be reported within 30-minute window
People: Philippines and Sri Lanka gain new monetary board members
Finance minister becomes member of Philippines’ monetary board; new joiner for Sri Lankan board; HKMA names executive director for financial infrastructure
Parliament keeps door open to monetary financing in Ghana
Parliament approves bill that removes government representative from central bank board, but government would still be able to borrow from central bank to finance deficit; IMF to discuss implications
Boston Fed seeks ‘more welcoming front door’ with new website
Federal Reserve Bank of Boston launches new website embracing responsive design; new navigational system focuses on four elements of its work
People: Mongolia gets new first deputy; BIS names Financial Stability Institute chair
Erdembileg Ochirkhuu joins Bank of Mongolia as first deputy shortly after new governor takes office; Fernando Restoy to chair Basel-based body; World Bank names new chief economist; and more
Romanian deputy submits resignation following arrest
High court places Olteanu under 30-day house arrest; he resigns from post as deputy governor at National Bank of Romania following corruption allegations
National Bank of Romania deputy arrested over corruption claims
Bogdan Olteanu to be held for 24 hours, with the potential for extension, following accusations of €1 million bribe; central bank says others will assume his responsibilities
Bank of Namibia cuts growth forecast, but expects rebound
Namibia to grow 4.4% in 2016, central bank projects; improvements expected in 2017, alongside recovery in diamond mining sector
Conflict of interest prompts managerial change at Bank of Jamaica
Deputy governor will leave the central bank after completing her term; Bank of Jamaica to now have three deputy governors
Viñals leaves IMF to chair Standard Chartered
Lagarde praises Viñals for “sharp intellect” and “analytical rigour” during seven years of service at the fund; he will join Standard Chartered Bank as chairman of the board
Malta’s deputy governor to remain in post, central bank confirms
Alfred Mifsud will continue as one of the Central Bank of Malta’s two deputy governors; allegations of corruption, denied by Mifsud, are ‘outside bank’s remit or competence’, spokesman says
Sarb to embark on ‘customised’ leadership development, deputy says
Mminele emphasises importance of leadership in addressing economic challenges; central bank to launch new leadership development programme ‘customised’ for each management level