Regulation
Swaziland introduce law against money laundering
Swazi finance minister John Carmichael is expected to table in parliament the long awaited criminal and money laundering bill that would empower prosecutors world-wide to extradite suspected criminals against Swazi laws to stand trial in Swaziland, the…
IMF has nothing against CBR, says Paramonova
The International Monetary Fund has no complaints about the actions of the Central Bank of Russia, Tatyana Paramonova, a first deputy chairman at the Central Bank, said.
Slovenia c.bank eases portfolio investment rules
The Bank of Slovenia said on Dec 22 it would from January 2001 ease restrictions for foreign portfolio investment, part of its programme to harmonise regulations with those of the European Union by the end of 2002.
Lithuanian market watchdogs sign supervision pact
Lithuania's central bank, the securitities comission and insurance watchdog signed on Dec 22 a cooperation deal aimed at cementing supervision of the country's financial sector.
Cameroon to go it alone with national bourse
Cameroon has announced the creation of a national stock exchange, just days after Central African leaders chose Libreville in Gabon rather than Cameroon's economic capital of Douala as the seat for a regional bourse.
Estonia cbank, govt clash over draft watchdog bill
The Estonian central bank on Tuesday expressed concern over government approval earlier in the day of a draft bill, aimed at merging the securities, banking and insurance watchdogs into one financial inspectorate from January 2002.
Bank of France warns banks on telecoms exposure
The Bank of France warned French banks about their exposure to Europe's heavily-indebted telecoms companies on Tuesday, adding its voice to a chorus of concerned regulators and central bankers.
Clamor for cash in bank closings in Cambodia
A top Cambodian central bank official said Monday that the bank will ensure that the liquidation of recently closed banks is done by the law, but depositors at those banks still do not know when, if ever, they will get their money back, according to The…
Nepal's central bank moves to reform ailing banks
Nepal's central bank said on Monday it had asked the Himalayan kingdom's two state-owned banks to be cautious in granting new loans, a move aimed at protecting the ailing institutions.
Oman modifies commercial banking laws
Oman said yesterday it has amended some of its commercial banking laws to meet the requirements of new economic developments.
Kuwait proposes opening up to foreign banks
Kuwait's central bank governor said the bank is proposing an amendment to current banking laws to allow foreign banks to open branches in the country, a daily newspaper reported.
FRC declares Kansai Kogin, Tokyo Shogin insolvent
The government's Financial Reconstruction Commission (FRC) on Saturday declared Kansai Kogin and Tokyo Shogin insolvent, believing the credit unions are severely undercapitalised, and will appoint administrators to oversee them, FRC officials said.
Oman modifies commercial banking laws
Oman said on Saturday it has amended some of its commercial banking laws to meet the requirements of new economic developments.
Bank Aspac misallocated BLBI funds
Two Bank Indonesia officials said on Thursday that former Bank Aspac director Hendrawan Haryono had misallocated Rp 583 billion (US$61.4 million) out of the Rp 1.5 trillion Government Liquidity Support Funds (BLBI) it had received from the central bank.
BoE warns on telecoms debt
The Bank of England has joined the UK's financial regulators in warning banks of the risk of heavy lending to telecoms companies.
When Genius Failed: The Rise and Fall of LTCM
This new book by Roger Lowenstein about Long-Term Capital Management suggests that the lenders were clueless as to the nature of the LTCM's assets and strategies and equally ignorant as to LTCM's total indebtedness. Rather, the banks relied on the brand…
E-commerce revitalise financial markets-Gemcard MD
Electronic commerce encourages active financial markets as financial markets are most vibrant when they can attract large and small investors, locally and globally, said Alex Nwuba from GemCard Nigeria.
BOC's Liu says restructuring plan approved by PBOC
Bank of China President Liu Mingkang said on Thursday its proposed restructuring plan had been approved by China's central bank, the People's Bank of China.
Lebanon considers changes to money laundering bill
The Lebanese Cabinet discussed a draft law to counter money-laundering on Wednesday but shelved the issue for a future meeting after some ministers proposed changes to the proposal.
China intensifying supervision of foreign banks
People's Bank of China, China's central bank, is stepping up the regulation of foreign-invested banks management.
Poland upgrading banking laws to EU standards
The Polish government has approved amendments to laws on the banking system and the central bank to upgrade them to European Union standards, a finance ministry official said on Wednesday.
SEC eyes tougher options rules
US securities regulators are close to proposing tougher new rules over the disclosure and approval of stock option plans by US companies. By John Labate in New York, The Financial Times.