As banks around the world gear up to meet tough Basel III regulatory standards, Islamic lenders face a source of uncertainty that could prove expensive for them: how regulators will treat their deposits.
In most ways, Islamic bank
Cyprus clinched a last-ditch deal with international lenders to shut down its second largest bank and inflict heavy losses on uninsured depositors, including wealthy Russians, in return for a 10 billion euro ($13 billion) bailo
Saudi British Bank (SABB), an associated company of the HSBC Group, has registered a net profit of SR3.24 billion ($862.8 million) for 2012, up 12.2 per cent compared to SR2.88 billion for the same period the year before.
Egypt's central bank, responding to what it said were market rumours, said on Monday that it was taking all steps needed to safeguard deposits in Egyptian banks whether denominated in local or foreign currencies.
Saudi British Bank (SABB) said its net profit for the nine months ended 30 September hit SR2.42 billion ($640 million), up 8.6 per cent compared to SR2.23 billion for the same period last year.
Announcing the nine months results o
Total deposits from the Gulf countries in Jersey, one of the world’s leading international finance centres, reached GBP21.2 billion ($33.1 billion), accounting for 14 per cent of total deposits in Jersey's financial sector, said a report.
Deposits out of the Dubai International Financial Centre (DIFC) by regulated entities have grown at an average annual rate of 39 per cent in the past three years to reach $12.8 billion at the end of the first quarter of 2012, a report said.
Kuwait's new loan-to-deposit ratio rules for banks are aimed at encouraging capital market development, improving asset-liability matching and boosting credit supply, the country's new central bank governor said on Monday.
Egypt's central bank cut its reserve requirement on local currency deposits to 12 per cent from 14 per cent on Tuesday, in a move to provide banks with more cash to lend to the government and business.