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DARK SECRETS: 4 | Rare Historical Photos

Travel Ban on Lebanon's Central Bank Governor Lifted

A travel ban on Lebanon's central bank governor Riad Salameh was lifted on Thursday by prosecutor Ghada Aoun, the state news agency (NNA) reported. Salameh is part of a political class widely blamed for Lebanon's unprecedented economic crisis. He is the target of a series of judicial investigations both at…

Asharq Al-Awsat

UAE Central Bank's Foreign Assets Exceed $136b

The total foreign assets of the UAE Central Bank exceeded $136.1 billion at the end of January for the first time in its history. The data showed that the Central Bank's foreign assets increased monthly by 1.34 percent, from $134.4 billion last December to $136.2 billion at the end of…

Asharq Al-Awsat

UAE Central Bank Revokes License of Russia’s MTS Bank

The Central Bank of the UAE announced that it has been decided to cancel MTS Bank’s Abu Dhabi licence, wind down its operations within six months from the date of the decision, under the supervision of the Central Bank, and close the branch. This decision comes after considering the available…

Asharq Al-Awsat

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Sri Lanka expects to finalise domestic debt rework by May

Sri Lanka will kick off a reworking of part of its domestic debt next month and aims to finalise it by May, central bank and treasury officials told creditors during a virtual presentation on Thursday.

Reuters

What is Central Bank Digital Currency (CBDC) and What are the Risks?

A Central Bank Digital Currency (CBDC) could help the Federal Reserve reduce fraud and money laundering while guaranteeing sovereign alternatives for digital payments. Still, the Nigerian case study suggests a variety of issues.

Barchart

Brazil's monetary policy director leaves office amid government uncertainty over replacement

Brazil's central bank monetary policy director Bruno Serra has left his position at his request, according to the official gazette on Monday, backdated to March 23, while the new administration of President Luiz Inacio Lula da Silva has yet to announce a replacement candidate.

Reuters

Saudi Deposit Boosts Foreign Reserves of Türkiye's Central Bank

The Turkish Central Bank's net international reserves rose by $6 billion last week to $25 billion after a $5 billion deposit from Saudi Arabia entered its accounts. The central Bank's gross reserves rose $6.5 billion to $126.5 billion in the same period, Reuters quoted three bankers as saying. The Bank…

Asharq Al-Awsat

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Lebanon’s Central Bank chief attends corruption questioning

Lebanon’s embattled Central Bank chief has appeared for questioning for the first time before a European legal team visiting Beirut in a money-laundering probe linked to the governor

The Independent UK

Lebanon's Central Bank chief again charged with corruption

Officials say Lebanon's Central Bank chief has again been charged with corruption, this time after he failed to show up for questioning before a European legal team visiting Beirut in a money-laundering probe linked to the governor

The Independent UK

Yemeni Officials, Experts Call for Using New Saudi Deposit for Economic Reform

Yemenis are optimistic that a Saudi deposit in the Central Bank will contribute to economic recovery, stop the collapse of the local currency, and control prices, especially with the approach of the month of Ramadan. Saudi Arabia deposited $1 billion in the Central Bank of Yemen’s legitimate government, in a…

Asharq Al-Awsat

Lebanon Judge Sets March 15 Hearing for Central Bank Chief in Graft Probe

A Lebanese investigative judge has scheduled a March 15 hearing for Lebanese Central Bank Governor Riad Salameh as part of a cross-border corruption probe into Salameh and close associates, a judicial source said. Judge Charbel Abu Samra took over the case late last month after another judge charged Salameh with…

Asharq Al-Awsat

Saudi Arabia Deposits $5 Bln in Türkiye's Central Bank

Saudi Minister of Tourism and Chairman of the Saudi Fund for Development (SFD) Board of Directors Ahmed Aqeel Al-Khateeb signed an agreement with Türkiye to deposit $5 billion in the country’s Central Bank, the Saudi Press Agency reported Monday. The agreement was signed with the Governor of the Turkish Central…

Asharq Al-Awsat

Lebanon adopts ‘dollarization’ as currency, economy crumble

The Lebanese pound has lost 95% in value since late 2019, and now most restaurants and many stores are demanding to be paid in dollars to bypass what’s seen as a nearly useless currency

The Independent UK

Lebanon to Soon Beat Zimbabwe in Highest Inflation Rate

A recent move by Lebanon’s Central Bank (BDL) to offer to sell the cash dollar through its platform at the rate of LBP 70,000 has temporarily curbed the rapid collapse of the national currency. The price margins of cash trading in the parallel markets fell to around LBP 80,000 per…

Asharq Al-Awsat

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Irish Mirror

Irish motorists hit with higher insurance premiums despite staying with one company

Concerns over the rise of price walking within the private car insurance industry have been raised

Asharq Al-Awsat

Report: 'Embezzled' Lebanese Cash in Swiss Banks

Banks in Switzerland are holding a substantial amount of the millions of dollars Lebanese central bank chief Riad Salameh is accused of embezzling, Swiss media reported on Sunday. Salameh, 72, faces investigations related to suspicions of money laundering and illicit enrichment in Lebanon and abroad after he amassed a fortune…

Asharq Al-Awsat

Iranian Parliament Discusses a Record Drop in Local Currency

The Iranian parliament held a closed session on the record decline of the Iranian riyal against foreign currencies as the dollar continues its record-breaking high. The parliament held an extraordinary session with Vice President Mohammad Mokhber, Economy Minister Ehsan Khandouzi, and Central Bank Governor Mohammadreza Farzin. A spokesman for the…

Asharq Al-Awsat

G20 Finance Chiefs Differ on Debt, Russia-Ukraine War

Finance leaders of the world's biggest economies were entangled in differences on Saturday over the war in Ukraine and on resolving the debt burden of distressed developing nations, participants said. The meeting of finance ministers and central bank chiefs of the Group of 20 (G20), hosted by India, was likely…

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Asharq Al-Awsat

Lebanon's Central Bank Governor Charged with Corruption in Final Months of Term

Beirut’s public prosecutor on Thursday charged the governor of Lebanon's Central Bank, Riad Salameh, his brother and an associate with corruption, Lebanese officials said. According to two judicial officials, Beirut's Attorney General Raja Hamoush charged Salameh, his assistant Marianne Howaiyak, and his brother Raja Salameh with embezzling public funds, forgery,…

Asharq Al-Awsat

Iraq's Central Bank, US Federal Bank Address Electronic Platform Challenges

Officials from the Central Bank of Iraq, the US Federal Reserve Bank and the US Treasury have met in wake of the drop in the Iraqi dinar's value against the US dollar, creating severe fluctuations in the prices of most commodities and foodstuffs. Economic sources said Washington gave Iraq an…

Asharq Al-Awsat

Lebanese C.bank Chief Salameh Says He Will Not Seek New Term

Lebanon's veteran central bank chief Riad Salameh said he would not seek a new term in office once his latest six-year stint at the head of the Banque du Liban ends. "My decision is that, at the end of the term, it will be a page I turned in my…

Asharq Al-Awsat

4 Gulf Banks Raise Interest Rates by 0.25%, Qatar Holds

The majority of central banks in the Gulf region raised the main interest rates on Thursday, following a decision by the US Federal Reserve to raise its key policy rate by 0.25%, in an effort to counter inflation. Qatar kept the interest rate unchanged, while the Saudi Central Bank (SAMA),…

Asharq Al-Awsat

Saudi King Appoints Ayman Al-Sayyari as Central Bank Governor

The Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, issued on Thursday a royal order appointing Ayman bin Mohammed bin Saud Al-Sayyari as Governor of Saudi Central Bank at the rank of minister. The King relieved Dr. Fahd bin Abdullah bin Abdullatif Al-Mubarak as Governor of…

The Independent UK

Targeting Iran, US tightens Iraq's dollar flow, causing pain

In recent weeks, Iraq’s currency has taken a plunge, largely as a result of newly imposed measures that have restricted dollar transfers from the United States

The Independent UK

Lebanon sets new exchange rate, dramatically devalues pound

Lebanon’s Central Bank has set a new exchange rate that effectively devalues the country’s currency by 90% but did little to bridge the gap with the soaring black market rate

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