Middle East
Global markets: HSBC
The bank’s long-term commitment to clients and its wide range of expertise shone in 2021 as central banks navigated the aftermath of the Covid-19 shock
Saudi Arabia gives $3 billion to Egyptian central bank
Donation is pandemic aid, and follows similar deposit with Pakistan central bank
People: Kuwait’s sovereign wealth fund gets new managing director
Korean president nominates head of financial supervisor and EBRD gets new corporate strategy chief
Governance Benchmarks 2021 report – the frameworks that rule central banks
How are central banks governed? Benchmarking data offers insights on appointments, legal structures, powers, decision-making bodies, independence and more
The Belt and Road Initiative 2021 Survey – The impact of Covid‑19 on the BRI
The fourth annual Belt and Road Initiative survey reveals that the Covid‑19 pandemic has disrupted many projects despite China remaining committed to financing the initiative, which is expected to support future economic growth and environmental…
Bahrain accuses Iranian central bank of money laundering
Prosecutors allege Iranian officials were involved in laundering around $1.3 billion to dodge sanctions
Iran governor registers for presidential run
Hemmati is one of nearly 600 candidates for the June vote who now face screening from the Guardian Council
Bahrain launches new cross-border payment pilot
Central banks plans to scale up system to handle CBDC transactions
UAE’s central bank connects RTGS system to Swift tool
New initiative allows participants to monitor progress of transactions in real time
Emerging-market central banks lead on women’s empowerment
EME central banks have more women at staff level and in senior positions, but there are deep disparities worldwide, with childcare availability appearing to be a major cause
Large economy central banks more likely to employ CTO
Slight majority of central banks employ CTO, but differences are clearer when sorted by GDP
Initiative of the year: Saudi Central Bank’s business continuity programme
Advanced planning has allowed Sama employees and systems to continue operating critical functions despite the Covid-19 lockdowns
Saudi Arabia to launch instant payment system in days
New system will go live following successful pilot with Saudi banks – Sama
Few central banks forecast policy rates
Economics Benchmarks 2020 highlights wide variation in variables forecast by central banks
Saudis and UAE say shared CBDC is technically possible
“Project Aber” shows DLT can be used to upgrade cross-border payments, central banks say
Lower public spending holding back Middle East and Central Asia
Efficient and targeted investments require comprehensive data, says IMF paper
Oman launches first denomination in new banknote series
New series incorporates improved security features and elements for the visually impaired
Lebanese central bank faces audit as crisis deepens
Inflation is spiralling and IMF talks have yet to result in a bailout package
Mena region leans on exchange rates to weather pandemic
IMF says central banks in the region have intervened in the market more than any other region
Trends in reserve management: 2020 survey results
Covid-19 expected to dent the risk appetite of central bank portfolio managers; socially responsible investing gains ground
Iran’s race towards monetary policy reform faces high hurdle reality
The Majlis Research Center’s Tohid Atashbar says positive outcomes from the Iranian central bank’s fast-tracking of monetary policy reform – made in response to Covid-19 and US sanctions – may prove difficult to deliver
The Belt and Road Initiative 2020 Survey – A more sustainable road to growth?
The third annual Belt and Road Initiative (BRI) survey reveals that central banks view BRI investment as sustainable compared with other forms of external debt, particularly given it is often proportionally less significant. Despite growing global trade…
IMF and Yale provide data on virus responses
IMF site provides information on G20 country responses to virus
UAE, Bahrain and Nambia team up to tackle money laundering
Common framework will help nations share and analyse AML/CFT data