GCC banks adjust debt instruments
Interest rates in the Gulf have been rising quickly as central banks matched course with the US
banks
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Russian banks to earn up to $20 bln in 2023
Russian banks may earn up to 1.5 trillion rubles ($20.7 bln) in 2023, which is a 1.5-fold increase compared with the record profit of 2021, according to a note on the country’s banking sector posted on the PSB Analytics Telegram …
Cyber attack against Iran’s Central Bank repelled
A major cyberattack against the Central Bank of Iran (CBI) was neutralized, according to an Iranian cyber security official. The general director of the Infrastructure Communication Company notified that a significant DDoS attack …
Islamic banking may be introduced in Russia by late winter
Russian banks may start providing financial products based on the principles of Islamic banking as early as February 2023, Chairman of the State Duma Committee on the financial market Anatoly Aksakov told Izvestia. He stressed that the …
Russian Central Bank selling Otkritie to VTB, deal to close by end-2022
The Central Bank of Russia has signed a deal to sell 100% of shares in Otkritie Bank to the VTB Group for 340 billion rubles, the regulator said in a statement. VTB will pay a cash consideration of 233.1 billion rubles plus federal loan …
Russia’s international reserves up $20 bln in November
Russia’s international reserves amounted to $567.289 bln as of December 1, 2022, which is 3.67% (or $20.095 bln) higher than as of the beginning of November, according to the files released by the Central Bank on Wednesday. As of …
Russia eases capital movement controls
The board of directors of the Central Bank of Russia has determined cases in which authorized banks and the state corporation VEB.RF are allowed to export cash in excess of the set limit of $10,000 or equivalent, the regulator said in a …
Another Kyrgyz bank drops working with MIR cards
Kyrgyz Capital Bank has suspended servicing cards of the Russian MIR payment system. According to the report, MIR cards are not accepted at ATMs and POS-terminals of the bank. The credit institution also does not service client …
Bank of Russia’s Chief rules out mandatory conversion from foreign currency to rubles
The Bank of Russia’s Chief Elvira Nabiullina said there should be no compulsory conversion of currency into rubles, speaking at a press conference following a meeting of the Board of Directors of the regulator. "Citizens …
Bank of Russia interacts with partners on Mir card alternatives
The Bank of Russia is interacting with foreign partners on alternatives to the Mir payment card, Central Bank chief Elvira Nabiullina said on Friday at the press conference after the regulator’s Board meeting. "We are …
Bank of Russia keeps key rate at 7.5% per annum
The board of directors of the Bank of Russia has decided to keep the key rate at 7.5% per annum after several reductions, according to a press release published by the regulator following the board meeting on Friday. "On 28 October …
Another bank of Kyrgyzstan suspends service of Mir cards
The Kyrgyz Investment and Credit Bank suspended the service of Russian Mir cards. "We inform you that from October 27, 2022, the bank will temporarily suspend the service of the Mir payment system's …
National Bank of Kazakhstan raises base rate to 16%
The National Bank of Kazakhstan has increased the base rate from 14.5% to 16% per annum within an interest rate band of ±1 p.p., the regulator's press office said. Rate for standing facilities rates are set at 17% for …
Malaysia open to Mir payment system
Malaysia is ready to discuss the endorsement of Russia’s Mir payment system, though no negotiations on the issue are underway now, the country’s temporary charge d'affaires in Russia Johan Ariff Abdul Razak said. …
Two more Kyrgyz banks suspend servicing Mir cards
Kyrgyzstan's Bakai Bank and Doscredobank have stopped servicing the cards of Russian payment system Mir, the banks said on their websites. "Servicing of the cards of [National Payment Card System (NPCS)] Mir at the bank's …
CBI first UAE bank to launch metaverse location
Commercial Bank International, a corporate and retail bank headquartered in Dubai, has announced the official launch of their metaverse location, making it the first UAE bank to have a presence in the metaverse. According to …
Nobel Prize in economics awarded for research on banks and financial crises
Former Federal Reserve Chair Ben S. Bernanke and two US-based colleagues won the 2022 Nobel Prize in Economics for their research into banking and financial crises. Douglas Diamond, Philip Dybvig and the one-time central banker will …
TROY payment system able to save Russian tourists from sanctions?
The decision on possible use of the Turkish payment system TROY as an alternative to Russia’s Mir may be announced by central banks of Russia and Turkey shortly, a source in Turkish financial circles said on Wednesday, adding that the sides …
Ziraat Bank still works with "Mir" system
The largest Turkish bank, Ziraat Bank, representative told RIA Novosti that the bank had not received notifications about the termination of the use of the Russian payment system "Mir". "We did not receive such …
Türkiye to announce alternative to Mir system in next two days
In the coming days the Turkish government will announce the details of the payment system, which could be an alternative to the Russian system "Mir", the Aydınlık newspaper writes, citing sources. Earlier it became …
