Search Results for: Standard Chartered
HSBC sets aside head of European forex trading
December 11th, 2014
HSBC has sacked its European currency trading chief in the wake of a huge $618m (£394m) fine for manipulating the £3.3trn a day foreign exchange market. The bank is understood to have “let go” Stuart Scott on Tuesday following ...
Investec issues apology after analyst’s gaffe
December 11th, 2014
South African bank Investec gave US regulator Benjamin Lawsky a grovelling apology last night, after one of its analysts compared Lawsky’s actions against Standard Chartered to the treatment of Eric Garner – an unarmed black man who died at the ...
Pakistan regulators merging three Islamic investment firms
November 17th, 2014
Pakistan regulators are merging three small Islamic investment firms after the central bank took control of Karachi-based KASB Bank Limited, accelerating efforts to strenghten financing by investment partnerships. Last week, the government directed the central bank to reorganize or amalgamate ...
SWIFT addresses the Know Your Customer’s customer compliance challenge
November 12th, 2014
New ‘SWIFT Profile’ is the first in a series of additional value-added Know Your Customer Services linked to the KYC Registry. SWIFT has announced the development of the SWIFT Profile, a report that provides an overview of an institution’s ...
Singapore Returns Up to $9 Billion to Banks in Rate Probe
November 7th, 2014
Singapore’s central bank gave back as much as S$12 billion ($9.3 billion) that it took from 19 lenders last year as a penalty for trying to manipulate benchmark interest rates. The banks have taken steps to prevent a recurrence ...
DIFC Investments prices $700 million Sukuk
November 5th, 2014
Ahead of the Sukuk issuance, DIFCI was assigned a BBB- issuer credit rating by S&P. Shortly after receiving its credit rating, DIFCI undertook an extensive marketing strategy covering Abu Dhabi, Dubai, Hong Kong, Singapore, and London. The main aim ...
Hong Kong Introduces RMB Liquidity Measures
November 4th, 2014
The Hong Kong Monetary Authority (HKMA) has designated seven banks as Primary Liquidity Providers (PLPs) for the renminbi market (RMB) in Hong Kong and announced the provision of intraday liquidity – two moves that it said would reinforce the ...
China Expands Access to $4.3 Trillion Interbank Bond Market
November 3rd, 2014
China is opening its 26.31 trillion yuan ($4.3 trillion) interbank bond market to non-financial firms after tightening trading rules following a crackdown on illegal transactions. Qualifying participants will require minimum net assets of 30 million yuan and use a ...
Bahrain fund Mumtalakat sets up $1bn bond, sukuk programmes
November 3rd, 2014
Bahraini sovereign fund Mumtalakat has set up separate bond and sukuk issuance programmes in the Irish stock exchange to raise as much as $1 billion, to help refinance maturing debt next year. One of the smaller sovereign wealth funds ...
Barclays Third-Quarter Profit jumps, sets aside FX probe
October 30th, 2014
Barclays Plc (BARC), the U.K.’s second biggest bank by assets, said third-quarter profit unexpectedly rose in the third quarter as the bank set aside 500 million pounds ($799 million) to settle probes into currency markets. Adjusted pretax profit rose ...
