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Outreach of Islamic banking sector

Edit Dawn 11 Jul 2016
Islamic banking now has a 13pc share in our overall banking industry ... And, even in corporate financing, Islamic banking institutions (IBIs) are unable to tap unmet requirements because of a lack of needed diversification of financial products ... As of March 2016, Murabaha and Diminishing Musharaka had a combined 54.5pc share in the financing mix of Islamic banking....

Money Market: Bank deposits rise

Edit Dawn 11 Jul 2016
According to the weekly statement of position of all scheduled banks for the week ended June 24, 2016, deposits and other accounts of all scheduled banks increased and stood at Rs10,060.19bn, over preceding week’s figure of Rs9,778.386bn, a rise of 2.88pc ... Deposits and other accounts of all commercial banks stood at Rs10,011.869bn against preceding week’s deposits of Rs9,738.978bn, showing a rise of 2.80pc....

Bulletin describes OCR decision making process (Reserve Bank of New Zealand)

Edit Public Technologies 11 Jul 2016
Reserve Bank of New Zealand). The Reserve Bank today published a Bulletin article that explains the monetary policy decision-making process. Seven times a year, the Reserve Bank makes a decision on the appropriate Official Cash Rate (OCR) setting ... A robust system is needed to address the inherent uncertainty that the Reserve Bank faces when making these decisions....

Vietnam's growth is petering out

Edit Business Insider 11 Jul 2016
Still, even as Vietnamese exports slow, Credit Suisse analysts note that burgeoning domestic consumption is helping sustain economic expansion – a growth pattern the bank’s analysts call “slower, but safer.” ... Banks have also stepped up their lending to consumers. Major banks made 43 percent more loans to individuals in the first half of 2015 than in the previous year....

Accused 'rented' bank accounts

Edit The Times of India 11 Jul 2016
Police investigations have revealed that to ensure multi-layered safety and prevent themselves from getting caught, the accused "hired" bank accounts of people residing in slum areas of different states for transferring the ill-gotten money. Senior police officers said taking bank accounts on rent is unheard of and will need a detailed probe to reach the roots of the entire racket....

Credit Suisse CEO says cheered by traders’ Brexit performance

Edit Arabnews 11 Jul 2016
Credit Suisse CEO Tidjane Thiam congratulated all the bank’s trading teams for the way they handled the aftermath of the Brexit referendum, he said in a newspaper interview ... decision to sell off illiquid positions and reduce the bank’s risk profile....

Standard Chartered Starts Brokerage in Japan With 100 Employees

Edit Bloomberg 11 Jul 2016
bank will deploy 20 salesmen to meet with Japanese life insurers, brokerages, banks and asset managers to sell products that invest in developing countries with potential for fast economic growth, said Taisei Takegami, president of Standard Chartered Securities (Japan) Ltd ... now see the need to diversify investments with various products as interest rates fall dramatically worldwide.”Investment Banking....

RAM Ratings reaffirms Industrial Bank of Korea’s AAA rating (RAM Holdings Berhad)

Edit Public Technologies 11 Jul 2016
RAM Ratings has reaffirmed the AAA/Stable/- rating of Industrial Bank of Korea's (IBK or the Bank) RM3 billion Conventional and/or Islamic MTN Programme. The issue rating incorporates our expectation of a high likelihood of ready government support given IBK's strategic and public-policy role in developing South Korea's SMEs, the Government of Korea's (GoK) majority ownership and protection of the Bank's solvency under the IBK Act....

Carney Poised to Steady Ship as BOE Mulls Cut to Record-Low Rate

Edit Bloomberg 11 Jul 2016
politics in disarray after the nation opted to split from the European Union, the Bank of England governor has been leading the charge in offering stability. After boosting liquidity, freeing banks to lend more and signaling a willingness to loosen monetary policy, Carney will spend the coming days addressing lawmakers in parliament and overseeing the central bank’s first interest-rate decision since the Brexit vote ... banks....

BoE’s governor steps into policy breach again amid Brexit worries

Edit Arabnews 11 Jul 2016
Brexit worries are set to dominate this week, with Bank of England Gov ... Casualties include Italy’s banks, whose 360 billion euros of bad debt is one-third of the euro zone total ... Rome is negotiating desperately with Brussels over a plan to recapitalize its lenders with public money, limiting the losses for bank investors which are required by EU rules....

Saudi stocks rise 0.9%; Dar Al-Arkan up 9.3%

Edit Arabnews 11 Jul 2016
This was despite continued speculation about more mergers and acquisitions activity in the emirate after a spate of big deal announcements, including a proposed merger of First Gulf Bank and National Bank of Abu Dhabi. Union National Bank was 2.3 percent higher, and Abu Dhabi National Energy Company rose 3.9 percent, taking their gains in the past four sessions to 12.5 percent and 10.2 percent respectively....

NAB appoints independent customer advocate (NAB - National Australia Bank Ltd)

Edit Public Technologies 11 Jul 2016
NAB - National Australia Bank Ltd). National Australia Bank (NAB) today announced it has appointed Catherine Wolthuizen as independent customer advocate to support its retail and small business customers in resolving serious complaints. The Customer Advocate-Banking role has been established as part of NAB's ... NAB - National Australia Bank Ltd....

Faced with Brexit, Swiss central bank vows ‘flexibility’

Edit Arabnews 11 Jul 2016
Switzerland’s central bank will react with “flexibility” to the shifting economic realities following Britain’s vote to leave the European Union, its chief said in a newspaper interview. “The question for Switzerland is to figure out how to adapt in an optimal way,” central bank chief Thomas Jordan told the Le Matin Dimanche weekly, adding that it was “a bit premature to speak about risks and opportunities.”....
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