The Turkish lira on Thursday hit fresh lows after the central bank fired the latest salvo in President Recep Tayyip Erdogan's "economic war of independence" by cutting interest rates for the fourth successive month. The reduction of the main rate to 14 from 15 percent comes in the face of...

Even as Lebanon faces one of the worst economic crises, about US$7 billion remains missing from the Lebanese central bank’s 2020 balance sheet, data analysis by TRENDS suggests.

About US$7 billion is missing from Lebanese central bank’s 2020 balance sheet, data analysis by TRENDS suggests while highlighting weak government policies for the economic crisis.

Some observers predict the Lebanese pound could drop to a rate of 40,000 against the dollar or worse in the coming weeks. The financial crisis that started in 2019 is the worst in the country's history and has left four in five Lebanese living under the poverty line.

The new issue is the first banknote made of polymer material to be circulated in the UAE. Polymer banknotes are said to be more durable and sustainable than traditional cotton paper banknotes, lasting two or more times longer in circulation. The polymer can be completely recycled, thus reducing their environmental...

The Central Bank of Bahrain will offer the digital Dinar through a digital payments platform that can be accessed round the clock.

The Central Bank of Jordan (CBJ) has joined the Network for Greening the Financial System (NGFS), a network of 100 central banks and financial supervisors that aims to accelerate the scaling up of green finance and develop recommendations for central banks' role in climate change. The bank, according to local...

Turkish president accepted the resignation of Lutfi Elvan and appointed his deputy Nureddin Nebati as the new finance minister.

Governor of Central Bank of Iraq called on his Turkish counterpart, to "provide facilities to Iraqi banks in a way that facilitates the settlement of the trade balance between the two countries.”

India's government will introduce a bill to ban private cryptocurrencies and create a framework for a central bank-backed digital money, parliament said in a shock announcement late Tuesday.

Oman's finance ministry has issued government treasury bills worth Omani Riyal 75 million ($194 million). Treasury Bills are short-term highly secured financial instruments that provide licensed commercial banks the opportunity to invest their surplus funds. The Central Bank of Oman (CBO) acts as the issue manager and provides the added...

The Central Bank of Kuwait (CBK) has launched the fourth round of the Certified Shariah Auditor program to strengthen the Shariah supervision of Islamic banks in Kuwait and reinforce Shari'ah-compliant auditing in such banks. The CBK organized the new edition of the program as part of the "Kafa'a Initiative", which...

The Turkish lira sank further on Thursday as the central bank slashed interest rates for the third consecutive month following pressure to do so from President Recep Tayyip Erdogan.

It fell nearly four percent to 10.41 to the dollar before clawing back some of its losses ahead of a meeting Thursday at which the central bank is expected to lower interest rates for the third successive month. Turkey's nominally independent bank has bowed to incessant pressure from President Recep...

The issue's maturity period is six months, with a return rate of 1.250 percent.

The Central Bank of the UAE (CBUAE) will publish a new index for actual overnight funding transactions denominated in UAE Dirham from 7 Dec. 2021, as part of the new Dirham Monetary Framework implementation plan. Named DONIA (Dirham Overnight Index Average), the index is the effective overnight reference rate for...

Several amendments to the Commercial Transactions Law related to cheques will contribute to raising the UAE's ranking in the Global Competitiveness Index, the Central Bank of the UAE (CBUAE) said on Monday. These amendments, which will come into effect on 2 Jan. 2022, are related to the decriminalization of cheques,...

The Lebanese central bank has opened a credit line of $60 million for medicine importers.

A New York-based firm contracted by the Lebanese government is to resume its audit of the central bank Thursday in line with creditors' demands, the Lebanese presidency and a top official said.

An Iranian court has sentenced the former governor of Iran’s central bank to 10 years in prison for violating the country’s currency system, a judiciary spokesperson said Saturday.

The Turkish lira sank to a record low against the US dollar on Thursday after President Recep Tayyip Erdogan fired three central bank members in an overnight decree. The embattled Turkish currency has lost nearly a fifth of its value so far this year as market concerns over the policy-setting...

The IMF noted that emerging variants of the novel coronavirus have made policy choices more difficult, with limited room to maneuver.

A Swiss newspaper claimed Riad Salameh struck out 14 pages of a 2016 IMF report that warned of economic crisis in Lebanon.

The Central Bank of the United Arab Emirates has penalized six exchange houses for flouting rules to combat money laundering and illicit financial flows.

DUBAI: The Central Bank of the UAE (CBUAE) has announced it will issue silver coins that feature Expo 2020’s official mascots, the second commemorative coin produced to mark this global event. The first gold and silver commemorative coins were issued on the occasion of the UAE hosting Expo 2020. The...

The bank has effectively sounded the death knell for digital currencies in China.

The Turkish currency was down around 1.1 percent against the US dollar by 1330 GMT, after the bank announced it was cutting the one-week repo rate to 18 percent from 19 percent in a decision that surprised analysts.

The Central Bank of the United Arab Emirates has decided to gradually do away with all the stimulus measures introduced in the wake of the outbreak of the Covid infection in the country.

Lebanon has gradually increased fuel prices in recent months because the cash-strapped central bank can no longer afford to fund fuel imports.

The Central Bank of the United Arab Emirates has disclosed that there has been an increase in the laundering of money through unlicensed money service providers during the Covid pandemic.

Lebanon's outgoing finance minister Ghazi Wazni has told reporters that auditing firm Alvarez & Marsal would be signed on within days to conduct the audit into Banque du Liban, which is currently headed by its governor Riad Salameh.

While not directly involved in addressing global warming, central banks do have to be alert to its impact on the economy and the financial system.

Gross credit, which includes which includes loans to residents and non-residents and non-banking financial institutions up by 0.9 percent compared to March.

Alongside a grinding seven-year military conflict, Yemen's government and the Huthi rebels are locked in battle on another front -- a currency war. Both the government and the Iran-backed Huthis used the same notes until late 2019 when the rebels banned new banknotes printed in government-run Aden, due to concerns...

Ahmady explained that the Taliban would have access to only 0.1-0.2 percent of the country’s foreign reserves of $9 billion, especially given the sanctions the global community has placed on Afghanistan.

Fuel importers blame the crisis on a delay by the central bank in opening credit lines to fund imports

In a country suffering from one of the worst economic crises in the world, this could effectively raise prices for fuel, amid its shortage.

The Central Bank of the United Arab Emirates (CBUAE) has unveiled the Retail Payment Services and Card Schemes Regulation.

French anti-corruption judges are probing money-laundering charges against Lebanon's central bank chief Riad Salameh

Turkey's central bank has left its policy rate unchanged for the fourth month running as a spike in inflation to a two-year high delayed hopes of borrowing costs being lowered.

Central banks in the GCC mimic the US Fed's moves due to the peg of their currencies to the US dollar CBUAE upped the base rate applicable on the overnight deposit facility (ODF) by 5 points to 15 bps Hours after the US Federal Reserve Board raised the interest on...

The decision needed to support the country’s depreciating currency An annual inflation rate of 16.6 percent has contributed to a sharp drop in Turks' purchasing power and price rises for basic goods Reeling from high inflation, Turkey's central bank on Thursday left its interest rate unchanged at 19 percent for...

  The credit is intended to give a boost to sectors critical to the overall economy of the United Arab Emirates The transport, storage, communication and real estate among the sectors receiving credit   In order to give a boost to sectors critical to the overall economy of the United...

The ECB's 25-member governing council is widely expected to hold interest rates at historic lows and leave its massive bond-purchasing schemes unchanged at the upcoming meeting

Findings could shed light onto the origins of the 70-year-old former Merrill Lynch banker's wealth

Turkish economy expanded by 7 percent between Jan and March but inflation more than triple the government's target of 5 percent

The bank in its latest figures released on Thursday showed steady growth in gold reserves The reserves shot up by nearly seven percent since March The Central Bank of the United Arab Emirates has reported nearly a seven percent growth in gold reserve for the second consecutive month now, reaching...

*Steady growth in liquidity a new sign of the gradual economic recovery, primarily in retail and commercial platforms *UAE Central Bank's report says liquid assets accounted for 15.9 percent of the total assets by the end of the first quarter Liquid assets held by UAE-based banks increased 2.6 percent to...

The steady growth in liquidity is a new sign of the gradual economic recovery Liquid assets accounted for 15.9 percent of the total assets by the end of the reference quarter Liquid assets held by UAE-based banks increased 2.6 percent to Dh486.58 billion ($132.48 billion) in first quarter (Q1'21) from...