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INSANE: 12 | Vintage Vibes

Irish people with old pounds lying around could earn a mint as millions still not changed to euros

The Central Bank of Ireland continues to exchange old pound banknotes and coins for euros

Irish Mirror

Saudi Arabia Stresses Importance of Cooperation to Support Global Economic Recovery

Saudi Arabia underlined the importance of international cooperation to support global economic recovery and prevent negative repercussions amid the current international circumstances. Saudi Minister of Finance Mohammad Al-Jadaan revealed the Kingdom’s continuous efforts to support people and countries in need, including its recent provision of urgent support in the amount…

Asharq Al-Awsat

CBUAE: Real Non-Oil GDP Grew by 7.8% in Q4 2021

The real non-oil GDP grew by some 7.8% in Q4 2021, the Central Bank of the UAE (CBUAE) announced. It attributed this increase to the easing of lockdown measures and restrictions on international travel. It also pointed to a 9.3% annual increase in UAE oil production during the same period,…

Asharq Al-Awsat

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Cryptos and a CBDC are not the same thing

The central bank must note that a Central Bank Digital Currency can only be a fiat currency and not a crypto

The Hindu

KBC and Ulster Bank customers face ‘chaos’ as staff shortages cause major delays with new accounts

Some people who are trying to open with a new bank are being temporarily blocked from a number of services

Irish Mirror

Soaring Costs Put Turkey’s Energy Importer under Pressure to Hike Prices

Soaring world energy costs are piling pressure on Turkey's state energy importer BOTAS to further hike prices as it falls deeper into the red, even as manufacturers complain that recent price rises threaten their operations. The pipeline operator and trading company needed a 100 billion lira ($6.8 billion) payment from…

Asharq Al-Awsat

War in Ukraine: Russia's reputedly ‘sanction proof’ economy shows signs of stress

Seven weeks into the war, how is the Russian economy faring? The short answer is: well below expectations and the worse is yet to come.

The Conversation

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Sri Lanka can overcome economic crisis provided Central Bank is allowed to run independently: Governor

COLOMBO: Exuding confidence in overcoming the unprecedented economic crisis, the newly appointed Governor of the Central Bank of Sri Lanka, Nandalal Weerasinghe said that one of the ways to overcome the current crisis situation is to allow the Central Bank to function independently.

The Times of India

Saudi Arabia Adopts Urgent Measures to Combat Financial Fraud

The Saudi Central Bank (SAMA) announced on Friday the implementation of urgent temporary precautionary measures to combat financial fraud. According to a circular issued by SAMA, banks operating in Saudi Arabia must adhere to a number of measures, including setting limits on daily electronic transfers and holding international transfers for…

Asharq Al-Awsat

Saudi Arabia Issues Draft Resolution on Implementing Payment Service

The Saudi Central Bank (SAMA) announced opening a public consultation on the draft implementing regulation of payments and payment services law. In the interest of transparency and broader participation, SAMA invites stakeholders and the public to provide suggestions and observations on the draft by visiting the Public Consultation Platform (Istitlaa)…

Asharq Al-Awsat

Lebanon: Salameh Hopes IMF Conditions Are Met to Secure Program

Lebanese central bank governor Riad Salameh said on Friday he hoped prior conditions set by the International Monetary Fund (IMF) in a staff-level agreement with Lebanon would be met in order to secure IMF board approval of a program. The IMF said on Thursday it had reached a draft funding…

Asharq Al-Awsat

Gunmen shoot deputy governor of Myanmar Central Bank

Gunmen in Myanmar's largest city have shot a deputy governor of the central bank, less than a week after tough currency controls were ordered in the military-ruled nation

The Independent UK

Saudi Arabia Expands Licensing of Foreign Currencies Trade

The Saudi Central Bank (SAMA) announced on Wednesday the licensing of the Al Tabdeel Co.

Asharq Al-Awsat

Lebanon’s Central Bank Not Bankrupt, Governor Says

Lebanon Central Bank Governor Riad Salameh on Monday denied that the institution he has led for 30 years was bankrupt and said it was still going about its legally-mandated role despite losses in the financial sector. The comments in a statement by the governor were an apparent response to the…

Asharq Al-Awsat

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Asharq Al-Awsat

Egypt’s Net Foreign Assets Decline Sharply

Egypt’s Central Bank data showed on Sunday that the country’s net foreign assets (NFAs) went sharply negative in February, declining by 60 billion Egyptian pounds ($3.29 billion) to minus 50.3 billion pounds, for the fifth consecutive month. The shortage of foreign currency helped prompt the central bank to devalue the…

Asharq Al-Awsat

Morocco’s Public Prosecution Office, BAM Sign MoU to Promote Financial Security

The Public Prosecutor’s Office and Bank Al-Maghrib (BAM), Morocco’s central bank, signed on Friday a memorandum of understanding to establish a framework for collaboration to exchange data and expertise in areas of common interest, particularly promoting financial security. The MoU was inked by the Attorney General of the Court of…

Reuters

Brazil's central bank employees go on strike, as its chief vacations in Miami

Brazil's central bank employees began an indefinite strike for a wage increase on Friday, threatening the stability of the wildly popular Pix instant payment system and the publication of data releases.

Reuters

Lebanon prosecutor seeks freeze of central bank chief's oversees assets

Lebanon's top prosecutor has sought to freeze European bank accounts belonging to central bank chief Riad Salameh, a senior judicial source said, days after five European states seized assets related to embezzlement probes.

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Asharq Al-Awsat

Lebanon’s Central Bank Governor Skips Hearing Session

Lebanon’s judiciary on Thursday adjourned until June the questioning of Central Bank governor Riad Salameh in a corruption case brought against him on March 21. A lawyer for Salameh presented a preliminary defense of his client against the charges at Thursday's hearing, Lebanon’s National News Agency said. “Mount Lebanon First…

Reuters

Lebanon's cenbank chief stays away from corruption hearing -state media

Lebanese central bank chief Riad Salameh did not attend on Thursday a judicial hearing he was summoned to last week after being charged with corruption, prompting the judge to schedule a new hearing in June, state media reported.

Asharq Al-Awsat

Lebanon Judge Sets June Hearing for Central Bank Governor Graft Probe

A Lebanese judge on Thursday postponed an interrogation session for central bank governor Riad Salameh until June after his lawyer attended a hearing in a corruption probe in his place, the state news agency (NNA) reported. Salameh, governor for nearly three decades, was charged with illicit enrichment last week. He…

Asharq Al-Awsat

Lebanon’s Central Bank Chief Is Suspect in 120 Mln Euro Asset Freeze Case

Lebanese central bank governor Riad Salameh is a suspect in a case the European Union's criminal justice agency said on Monday had led to the freezing of some 120 million euros ($132 million) of Lebanese assets, prosecutors in Germany said. The properties and bank accounts, linked to five people suspected…

Asharq Al-Awsat

Lebanon's Banks Threaten to Sue the State

A senior Lebanese official in the financial sector warned that the country was in a severe monetary crisis as a result of explicit duplicity in the state to dealing with the governance of the central bank and the banking system. The danger looms at a time when the talks with…

Asharq Al-Awsat

Lebanon: Brother of Central Bank Chief Kept in Custody

A Lebanese judge decided Thursday to keep the brother of the country’s embattled central bank governor in custody, a week after he was first arrested on corruption allegations, state media reported. The brothers — Governor Riad Salameh and Raja Salameh — have been charged with illegal enrichment and money laundering…

Asharq Al-Awsat

Lebanon: Mikati Proposes Inviting Central Bank Governor to Cabinet Meeting

Lebanese Prime Minister Najib Mikati proposed on Wednesday inviting central bank governor Riad Salameh to a forthcoming Cabinet meeting, the information minister said, an apparent show of support after Salameh was charged with illicit enrichment. Salameh has denied the charge brought against him by a Lebanese judge on Monday.

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