The GBP/EUR exchange rate was higher after the last meeting of the European Central Bank (ECB) on Thursday. The central bank did not raise interest rates as expected, but plans to withdraw its stimulus efforts sooner. It will be the first meeting of political decision-makers since the beginning of theRead More →

February 23, 2022 Business By Alois Vinga The Financial Intelligence Unit (FIU) of the Reserve Bank of Zimbabwe (RBZ) has ordered the freezing of the bank accounts of four companies after detecting money laundering activities. The entities concerned are: Transerv, Powerspeed Investments, Electrosales, Halsted Brothers Ltd and Enbee Store. InRead More →

MUMBAI: Reserve Bank of India (RBI) Governor Shaktikanta Das surprised markets on Thursday with a super accommodative monetary policy that not only left rates unchanged but also kept the dovish stance. Post-policy commentary was also supportive of growth, with the governor saying next year’s borrowing program would not be asRead More →

The House of Representatives expressed concern over the 45 million accounts that hold funds worth over N1.2 billion. To this end, the House of Representatives Ad Hoc Committee on Unclaimed Funds in Nigerian Commercial Banks and Offenses by the Central Bank of Nigeria has opened an investigation into the matter.Read More →

MONEY APP REVOLUT is expected to start offering traditional banking products, including credit cards and personal loans, to Irish customers this year after obtaining a full European banking licence. The fintech company, which is currently regulated by the Central Bank of Lithuania, plans to increase its offering to Irish customersRead More →

Digital bank statements begin Financial institutions collaborate with the BoT Banks on Monday launched a digital bank statement service (dStatement) to provide greater convenience to customers. The initiative is a collaboration between the Bank of Thailand (BoT), 11 financial institutions under the Thai Bankers Association (TBA) and the Government FinancialRead More →

• Threat to sue uncooperative banks Ahead of the 2023 general election schedule, the Independent National Electoral Commission (INEC) must shine its spotlight on politicians and political parties in a bid to track sources of funding for their campaigns. INEC Chairman Prof. Mahmood Yakubu publicized the plan at a politicalRead More →

BDO President Tessie Sy-Coson told the Philippine Daily Inquirer that the company “will keep affected innocent customers intact for their losses.” Image Credit: Gulf News Archive Manila: The Philippines’ central bank is investigating complaints that some clients of BDO Unibank Inc., the country’s largest lender by assets, have lost moneyRead More →

The Blockchain Industry Coordinating Committee of Nigeria (BICCON) has said that it is not legal for Nigerian financial institutions to freeze or arbitrarily close bank accounts belonging to individuals or entities accused of cryptocurrency trading. Affected Crypto Entities Should Seek Legal Advice In a public statement released on Nov. 22,Read More →

The Central Bank of Nigeria issued a security advisory with guidelines on how to protect themselves and their families following a letter to staff from the Department of Security Services. The letter with the subject “Security Advisory” written to CBN staff, dated April 28, 2021, was from the Director ofRead More →

Guatemala City—The heads of Guatemala’s central bank and social security administration were arrested on Wednesday for corruption, prosecutors said, the latest blow to beleaguered President Otto Perez.Julio Suarez, director of the Central Bank of Guatemala, and Juan de Dios Rodriguez, president of the Guatemalan Social Security Institute (IGSS), are accusedRead More →

MUMBAI: India’s central bank yesterday announced a surprise quarter-point hike in its key interest rate, signaling that the priority is to control inflation rather than stimulate growth months before an election.After a meeting in the financial hub of Mumbai, the Reserve Bank of India (RBI) raised the benchmark repo rate,Read More →