News/Regulation

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.

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…

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.

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.

Nigerian banks urged to strengthen controls

Banks operating in Nigeria have been urged by a former banking supervisor to embrace effective internal controls to safeguard their financial integrity, protect depositors' funds and forestall fraud.

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