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Central Banking

BOT suing Rerngchai for losses

THAILAND - The Bank of Thailand plans to sue former central-bank governor Rerngchai Marakanond for damages involving the failed defence of the baht that resulted in massive losses, the central-bank's chief said yesterday, Monday.

Pakistan 'set for parallel bank system'

PAKISTAN - Pakistan's central bank yesterday issued a fresh set of requirements for commercial banks intending to provide Islamic banking services, in a step to comply with an order from the country's Supreme Court seeking a conversion to Islamic banking…

Afghan central bank - little left but dollar bills

ARTICLE - A dingy bank vault in the center of this destitute, dust-smudged capital holds the foreign-currency reserves of Afghanistan: $90,000, much of it in single dollar bills. The cash, all that remains of Afghanistan's plundered treasury, was simply…

EC concern over independence of Czech c bank

CZECH REPUBLIC - The European Commission (EC) is worried about continued threats to the independence of the Czech National Bank (CNB), including the independence of the bank's board members, according to this year's annual assessment report.

Repse hands in resignation to go into politics

LATVIA - The president of the Bank of Latvia, Einars Repse, handed in a resignation to the Latvian Parliament Speaker Janis Straume 30 November, so that he could draw attention to forming his new would-be political party already named Jaunais Laiks, or…

China's gold mining embraces reshuffle

CHINA - China's gold mining industry plans to form 12 internationally competitive groups by 2005 to meet challenges from the deregulation of the domestic gold market driven by the nation's accession to the World Trade Organization (WTO).

Thai bank supports action against ex-chief

THAILAND - Thailand's central bank has apparently endorsed plans to take punitive legal action against Rerngchai Marakanond, the institution's former governor, for exhausting the country's foreign exchange reserves to defend the baht against currency…

Singapore finalising licences for foreign banks

MALAYSIA - Singapore will announce the winners of the Qualifying Full Bank (QFB) and wholesale bank licences in the next few weeks, in a further move to open the domestic financial sector to foreign players, according to a report.

Economic Chaos - Who's killing Argentina's Peso?

ARTICLE - Until recently, stable money and sound banking were the two pillars of an otherwise weak Argentine republic. As Argentina confronts its fourth year of recession and finds itself bankrupt, many are now blaming its monetary regime, which…

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