Are the days of spectacular bank failures that the world has witnessed since the onset of the global financial crisis in 2008 numbered?
After four years, the European Commission Wednesday finally came up with proposals it says would “allow (...)
The Islamic Development Bank (IDB) will go to the market this month to raise between $500 million and $1 billion to finance its activities during the year.
In an exclusive interview, Dr. Ahmad Mohamed Ali, IDB President, who is on a visit to the (...)
The Islamic Development Bank (IDB) is exploring social and financial inclusion opportunities in the UK including the provision of community-based microfinance, SMEs (small-and-medium-sized enterprises) financing and technical assistance (...)
"The Basel III rules are almost rendered meaningless without effective supervision. They should be implemented in full on a timely and sustainable basis," said William Coen, Deputy Secretary General of the Basel Committee on Banking Supervision, (...)
If you have any doubt that Islamic finance is creeping into the mainstream global financial system where it matters, albeit cautiously and perhaps in some instances even apologetically, then you should have been in Istanbul last week.
Perhaps (...)
At the 9th Annual Summit of the Islamic Financial Services Board (IFSB) held in Istanbul recently and hosted for the first time by the Central Bank of Turkey, emerging countries for once emerged on a higher moral ground, at least in terms of (...)
Members of the governing council of the Islamic Financial Services Board (IFSB), the prudential and supervisory standard setting body for the global Islamic financial industry, and delegates have started converging here for the two-day board's 9th (...)
Malaysian Prime Minister Mohd Najib Abdul Razak has challenged the liquidity-rich Gulf Cooperation Council (GCC) countries, warning that they can no longer afford to ignore investment and business opportunities in Asia.
Traditionally, GCC countries (...)
Boris Johnson, the eccentric Conservative incumbent Mayor of London, was sworn in for a second four-year term Saturday following his narrow victory in the 2012 London Mayoral Election beating his main rival, Labour's Ken Livingstone in a (...)
Activity in the global sukuk market continues to be buoyant with a steady pipeline of issuances since the beginning of this year and Saudi Arabia and Malaysia leading the way.
Over the last weeks, for instance, Saudi Electricity Company (SEC) (...)
The International Monetary Fund (IMF) has advised the Saudi government that the country's Banking Control Law (BCL) needs urgent updating to include new provisions to give the Saudi Arabian Monetary Agency (SAMA) greater operational (...)
The International Monetary Fund (IMF) has urged Saudi Arabia's securities regulator, the Capital Market Authority (CMA), to clarify its role especially where there is regulatory overlap with the Ministry of Commerce and Industry (MOCI) to improve (...)
The International Monetary Fund (IMF) has urged Saudi Arabia to “complement recent strides in banks' risk management by an improved (regulatory and supervisory) regime for large exposures of banks to connected parties.”
In its latest report on the (...)
The Board of Executive Directors of the World Bank meets in Washington D.C. Monday to elect a new president — the 12th — to succeed incumbent Robert Zoellick.
In office since 2007, Zoellick is leaving the bank in June.
The election, however, (...)
Many member countries of the Jeddah-based Islamic Development Bank Group (IDB), the multilateral development bank (MDB) of the Muslim world, have urged the institution to adopt a much more aggressive resource mobilization strategy in order to (...)
Fitch Ratings has affirmed last week Saudi Arabia's Long-term local and foreign currency Issuer Default Ratings (IDR) at 'AA-', with Stable Outlooks. The Country Ceiling has been affirmed at 'AA' and the Short-term foreign currency IDR at (...)