Governance
Islamic Liquidity Management Corporation replaces CEO
International Islamic Liquidity Management Corporation names Rifaat Ahmed Abdel Karim to replace Mahmoud AbuShamma as chief executive
Bank of Mauritius to offer gold as public savings tool
Mauritians will soon be able to purchase gold bars from the central bank as part of an effort to promote a 'savings culture' in the country
Stability the best foil for inequality, says ECB’s Cœuré
ECB executive board member considers the ability of monetary policy to tackle income inequality in Europe, saying stability is key to promote fairness
Euroclear’s Wicks named as new BBA chairman
Esma and PRA heads endorse appointment of European Securities Regulation ‘wise man’ Nigel Wicks as chairman of the British Bankers’ Association
Policy-makers debate how to restore trust in the financial system
Andrew Tyrie among speakers at BBA conference discussing how to develop greater trust in the financial system, ideas range from greater competition to code of conduct for bankers
Japan should encourage female labour participation, says IMF paper
Working paper says higher female labour market participation could deflect demographic pressures in Japan; challenges remain, but good policy can go some way to addressing them
Ireland’s Muldoon demands leadership from banks
Central Bank of Ireland director Fiona Muldoon says the country’s banks must show greater leadership, courage and hard work
Indian government appoints new director to RBI board
Engineering professor at the Indian Institute of Technology nominated to Reserve Bank of India’s board of directors; replaces Shashi Rajagopalan, who died in August 2011
Bank of Canada grandees pay tribute to James Coyne
Incumbent and retired Bank of Canada governors pay tribute to James Coyne, an early crusader for price stability and central bank operational independence, who died on October 12
PBoC’s Yi urges IMF to complete quota and governance reforms
Deputy governor of the People’s Bank of China calls on remaining IMF members to approve 2010 quota and governance reforms; US has yet to accept the changes
UK needs ‘innovative’ policy levers beyond price stability, says FSA’s Turner
Adair Turner blasts past regulatory failings and says UK must now turn to ‘innovative and unconventional’ policies; remains a leading contender for Bank of England governorship
Central Bank of Malaysia raids ‘Ponzi’ scheme companies
Four gold-trading companies raided by central bank amid charges they were running illegal gold-trading schemes described as ‘Ponzi’ operations, according to the Malaysian central bank
BoJ deputy champions regional regulation
Kiyohiko Nishimura questions how to best spread a regulatory framework across the globe; says regional heterogeneity is an important consideration
Albanian governor seeks regional integration
Ardian Fullani says the south-east of Europe is being held back by a lack of integration; proposes a number of areas where coordination could improve competitiveness
Bermuda Monetary Authority expands regulation team
Bermuda Monetary Authority plans to expand headcount in banking and insurance regulatory departments
IMF develops flexible approach to funding to meet drawdowns, annual report says
Annual report says IMF has taken steps to improve the flexibility of funding instruments in face of ‘fragile recovery’; expects continued strong demand for funding
MAS head Menon outlines corporate governance challenges
Ravi Menon says a ‘culture of cynical greed’ must not be allowed to take root but that strengthening corporate governance should not necessarily involve creating more rules
Uribe given third and final term as Colombian governor
José Darío Uribe is reappointed by the Board of the Central Bank of Colombia for a third term as governor; will retire from the post in 2017
RBA stability review offers update on D-Sibs
Reserve Bank of Australia provides update on new regulations for domestic systemically important banks
Banks move to meet Bank Indonesia call for ‘external loss database’
Indonesian banks form association to explore the sharing of loss data and help develop risk management practices in response to call by Bank Indonesia
ECB communicates ‘intensively’ on fiscal policy, says paper
Research report compares central banks' communication on fiscal policy; ECB the most active commentator
MAS expands rate-setting review to cover NDFs
Monetary Authority of Singapore instructs banks to review rate-setting in forex market; banks instructed to discipline any staff found guilty of wrongdoing
IMF paper examines driving factors behind reforms
Study examines whether IMF training or financial assistance is more correlated with structural reforms