Friday 29 August 2014
 
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Central Bank

StanChart vows to work with UAE cbank after warning

Standard Chartered on Thursday said it would work with regulators after the UAE central bank warned it could face legal action after agreeing to close some customers' UAE accounts in an anti-money laundering settlement. "

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Saudi cbank sees gradual easing of inflation

Saudi Arabia's central bank expects the annual inflation rate to continue easing gradually in the second quarter of this year, it said in a report on Tuesday. "Because of the constant decline in inflation rates in most of

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Kuwait cbank warns against rising govt spending

Kuwait's rising public spending and dependence on oil revenues are preventing sustainable economic development, the country's central bank governor said, echoing warnings from the International Monetary Fund. Mohammad al-H

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Bahraini banks to launch Basel III standards

Bahraini banks will be fully ready to implement the Basel III international banking standards on new capital requirements by next year, the governor of the Central Bank of Bahrain (CBB) said. The kingdom's banking sector remai

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UAE cbank to launch overnight lending facility

The central bank of the United Arab Emirates will introduce a mechanism on April 15 to let the country's banks borrow funds from it overnight to help with liquidity management. The Interim Marginal Lending Facility (IMLF) will

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Egypt foreign reserves to continue to rise

Egypt's Central Bank governor Hisham Ramez has said that he expects the country's foreign currency reserves to continue growing despite continued political and economic turmoil. The reserves, which plummeted after a 2011 u

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Qatar caps bonuses for bank board members

Qatar's central bank is capping bonuses for board members of commercial banks in the country, it said in a circular to banks on Monday. The central bank did not give reasons for the restrictions in its circular, which was post

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Dubai, cbank agree roll-over of $10bn debt

Dubai has reached agreement on rolling over $10 billion in debt extended by the central bank of the United Arab Emirates during the global financial crisis, two sources familiar with the matter told Reuters on Wednesday. The emira

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Tunisia trims 2014 growth forecast to 3.8pc

Tunisia's economy will expand less quickly than hoped this year, the central bank said on Thursday, cutting its growth forecast to 3.8 percent from 4 percent. The economy grew by 3 percent last year. The bank did not say why i

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Egypt to support imports with dollar sale

Egypt's central bank will restock the market with much-needed dollars on Monday, moving to ensure a steady flow of imports of staple foods against an increasingly volatile political backdrop. The bank said it would sell $1.5 b

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