Regulation

Iraq, Sudan c banks sign cooperation agreement

IRAQ - Iraq and Sudan today signed a banking cooperation agreement. Central Bank Governor Dr Isam Rashid Huwaysh signed the agreement for Iraq, while Bank of Sudan Governor Dr Sabir Muhammad Hasan signed it for Sudan.

Speech by Fed Chairman Alan Greenspan, 10 May

SPEECH - In a speech titled 'Cyclicality and Banking Regulation' to the Chicago banking conference Greenspan said it was natural for bankers to grow more cautious in their lending practices during bad times.

UAE free of organised suspect cash activities

UAE - The UAE had detected minor money laundering operations but it is free of organised suspect cash activities as a result of direct surveillance by monetary authorities and cooperation by financial institutions, a judicial official said yesterday.

Central bankers testify in Russian loans trial

RUSSIA - Tatyana Paramonova, first deputy chairman of the Central Bank of Russia, and former Central Bank Chairman Viktor Gerashchenko had to appear in an unaccustomed role as witnesses at Moscow's Zamoskvoretskiy Court in a criminal case concerning…

ECOFIN to study banking supervision plans in July

BELGIUM - EU finance ministers will take a further look at banking supervision plans at their meeting in July, Spanish finance minister Rodrigo Rato and EU economic and monetary affairs commissioner Pedro Solbes have said.

Audit firms to fight money laundering in the UAE

UAE - The UAE Ministry of Economy and Commerce intends to bring auditing companies operating in the country into an alliance with the Central Bank and other competent national organisations involved in a crackdown on money laundering and other financial…

Turkmen leader sacks Central Bank chairman

TURKMENISTAN - Turkmen President Saparmyrat Nyyazow has dismissed the chairman of Turkmenistan's Central Bank, Seyitbay Gandymow, for allegedly embezzling state funds, appointing his relatives to lucrative posts and buying up land. Gandymow was also…

Who is the next head of the central bank of Iran?

IRAN - Over the past year and at the outset of the appointment of the new cabinet, private and official talks focused on a change of leadership at the Central Bank of Iran (CBI). Different proposals have been suggested and private speculation has been…

Duisenberg - ECB wants supervision structure role

GERMANY - European Central Bank president Wim Duisenberg said the ECB wants to play a key role in any move to increase cooperation between central banks and other financial sector supervisory authorities in the euro zone. He also spoke on Le Pen's threat…

Islamic financial services board to be based in KL

MALAYSIA - Malaysia will host the Islamic Financial Services Board (IFSB), which is tasked with setting international prudential standards for Islamic financial instruments, and Bank Negara Malaysia governor Tan Sri Dr Zeti Akhtar Aziz has been appointed…

Bahamas victor will face depressed economy

BAHAMAS - One outcome of tomorrow's general election in the Bahamas, an important offshore financial services centre, is certain: the Atlantic archipelago will have a new prime minister, and he will be faced with a period of economic uncertainty.

BofE's Clementi may become new Prudential chief

UK - David Clementi, deputy governor of the Bank of England, is favourite to become the next chairman of the Prudential Corporation reports the Sunday Telegraph, in a move that will reassure the City following last week's sudden resignation of Sir Roger…

Bundesbank's new board members approved

GERMANY - The constitution of the Deutsche Bundesbank's new board was settled Friday, a month after lawmakers agreed to adapt the central bank's structure to the era of the European single currency.

NZ central bank has six months to replace Brash

NEW ZEALAND - The Reserve Bank of New Zealand said in a statement released Monday that it will advertise the position of governor locally and overseas - a decision that leaves the door open for an external candidate to fill the role vacated by Don Brash…

RSA to delist from Securities Exchange on 2 May

SOUTH AFRICA - The South African Reserve Bank (SARB) will delist from the JSE Securities Exchange from the start of business on 2 May after the required number of shareholders voted in support of the move, it said on Friday.

Speech by W. McDonough, New York Fed Bank, 25 Apr

SPEECH - In the speech 'Bank Supervision and Credit Standards under Basel II - Perspectives for SMEs' McDonough said "it is an honor to join your discussion on the efforts of the Basel Committee on Banking Supervision to ensure that the international…

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