Regulation
South Asian bankers to discuss clearing issues
SRI LANKA - Amid fears of war between nuclear-armed India and Pakistan, while Sri Lanka struggles for peace, South Asian central bank officials meet this week to improve processes that would boost trade in the region.
Islamic banking conference hailed a great success
PAKISTAN - Justice Muhammad Taqi Usmani, Chairman, Centre for Islamic Economics, said here on Monday; that the International Conference on Islamic Banking and Finance was a great success and hoped that fullest efforts would be made for the eradication of…
Use standard loan documents: MAS
SINGAPORE - The Monetary Authority of Singapore (MAS) yesterday encouraged Singapore banks to adopt standardised templates for loan documentation, saying this would benefit them and borrowers, as well as help in the growth of the loan syndication market.
Philippines to make bid to FATF
PHILIPPINES - Philippine financial regulators are to meet with officials of the Paris-based Financial Action Task Force (FATF) next week in a fresh bid to be removed from a list of money laundering havens.
Bank of Greece picks Garganas as new governor
GREECE - The Bank of Greece on Monday picked Deputy Governor Nicholas Garganas to succeed Lucas Papademos at the helm of the central bank and fill a seat on the governing council of the European Central Bank.
Brash hits back at dissent on growth policy
FEATURE - Former New Zealand Reserve Bank governor Dr Don Brash has hit back at the view that the bank's approach to monetary policy hobbles economic growth reports the New Zealand Herald on Tuesday.
UAE to license 'hawala' operators
UAE - The UAE central bank will soon set up a licensing and supervisory system for 'hawala' operators in the country.
Heikensten likely new Riksbank governor - report
SWEDEN - Lars Heikensten currently First Deputy Riksbank Governor, is most likely to be appointed to the top rank at the Riksbank when Urban Backstrom resigns as Governor at the end of the year, Nordea wrote in its weekly market letter Friday.
National Bank of Azerbaijan proposes name change
AZERBAIJAN - The Azeri Parliament is preparing to ask the government for the National Bank of Azerbaijan (NBA) to be renamed the Central bank of Azerbaijan the chairman of the parliamentary committee for economic policy, Sattar Safarov has said.
Polish central bank sees independence under threat
POLAND - Poland's government threw down the gauntlet in its fight with the central bank yesterday by backing legislation that, if signed into law, would compromise its independence.
Bank of England may face massive legal claim
UK - The Bank of England has admitted it faces claims of up to £872m from depositors of the Bank of Credit and Commerce International if it loses a landmark legal battle due to start next year.
Egypt's banks forced to achieve world standards
EGYPT - Governor of the Central Bank of Egypt (CBE) Mahmoud Abul Oyoun announced yesterday that the government is studying new measures to encourage bank mergers to keep pace with world changes in this regard.
Fed's Olson: Banking industry is sound
US - Federal Reserve governor Mark Olson on Tuesday said the U.S. banking system is sound, but cautioned that weaknesses could come to light now that the economy has pulled out of recession, the first in a decade.
Swiss fight for banking secrecy
SWITZERLAND - Swiss officials are digging in to defend secrecy laws synonymous with the country's huge banking industry before talks with the European Union expected in June.
World wide search for New Zealand's c bank chief
NEW ZEALAND - The Reserve Bank has appointed headhunter Signium International to scour the world for a new Governor.
Lithuania thwarts mafia attempt to launder money
LITHUANIA - The Bank of Lithuania, the country's central bank, has prevented a large-scale money laundering attempt by declining an application from a French national to make a huge investment in the country's fourth-largest bank, Snoras, Lithuanian…
IMF calls for regulating 'hawala' transfers
UAE - The International Monetary Fund (IMF) on Wednesday called on the informal system of overseas money transfers known as "hawala" to be regulated in the interests of the world economy.
Polish central bank head ready for gov't dialogue
POLAND - Polish National Bank (NBP) President Leszek Balcerowicz declared on Thursday he was ready for dialogue with the finance minister but believed that structural reforms and securing higher competitiveness were more important than discussions on the…
Argentina central bank chief 'may resign' rumour
ARGENTINA - Rumours that Central Bank Chairman Mario Blejer is considering stepping down were circulating among banks yesterday, newspaper Clarin reported.
Basel II: An Economic Assessment
WORKSHOP - Basel II: An Economic Assessment (Basel, 17-18 May 2002), a workshop jointly organised by the Basel Committee on Banking Supervision, the Centre for Economic Policy Research, and the Journal of Financial Intermediation.
Bank law compromise seen in Russia
RUSSIA - The State Duma and the government have narrowed differences over a bill to curtail the powers of the Central Bank, Deputy Prime Minister Alexei Kudrin said Monday.
Euro Parliament approves Papademos' appointment
FRANCE - The European Parliament has approved the nomination of Lucas Papademos, the governor of the Central Bank of Greece, as vice-president at the Central European Bank.
Hugh Fletcher appointed to NZ Reserve Bank board
NEW ZEALAND - Hugh Fletcher, the former head of Fletcher Challenge, has been appointed as a non-executive director of the Reserve Bank and Rod Carr has been confirmed as acting governor for up to six months, the New Zealand government announced today.
Chicago fed forum evolves into Basel 2 battle
FEATURE - The big question posed at this year's premier bank policy event was how to break regulators' tendency to exacerbate business cycles by backing off in boom times and cracking down when the economy slows.