The International Swaps and Derivatives Association (ISDA) and the International Islamic Financial Market (IIFM) have published a new Islamic hedging product standard, the ISDA/IIFM Himaayah Min Taqallub As‘aar Assarf (Islamic Cross Curr
When Egyptian central bank governor Hesham Ramez quit, phones began ringing as bankers congratulated each other on the departure of a man they say refused to change course even as Egypt careered from currency crisis toward trade crisis.
Acutely tighter liquidity conditions in Gulf banking systems are casting doubt on how easily the region's lenders will be able to support their sovereigns' growing funding needs as depressed commodity prices take their toll.
Mashreq, a leading financial institution in UAE, is offering its customers an instant foreign currency account (FCY) for those who have a natural need to maintain foreign currencies like US dollar, euro, pounds and Australian dollar.
Leading portfolio of financial crime compliance services SWIFT’s RMB Tracker showed that the value in weight of the RMB used for payments exchanged with China and Hong Kong within Asia Pacific increased 327 per cent between April 2012 and
Prime Minister David Cameron won an emphatic election victory in Britain, overturning predictions that the vote would be the closest in decades to sweep into office for another five years, with his Labour opponents in tatters.
Saudi Arabia has begun drawing down its foreign currency reserves for the first time since 2009 to cover a record state budget deficit caused by the plunge in oil prices, data from the Saudi central bank indicated on Thursday.
Tens of b
The dollar hit an 11-year high against a basket of major currencies on Monday, with the greenback gaining a broad lift after an interest rate cut in China dented the Chinese yuan and emerging Asian currencies.
The dollar rose to a
Money exchange firms in Bahrain have stepped up vigilance amid unconfirmed reports of fake Saudi currency circulating in the market.
Representatives of three companies in Bahrain, asked not to be identified, said they were aware o
The dollar was on track Thursday to end 2014 with a gain of 12 per cent against a basket of major currencies, and anticipated US interest rake hikes may strengthen its appeal in the new year.
This year's gain will be the dolla