by Vasu Jit Kalia | July 16, 2024 | Retail Banking
The Saudi Central Bank (SAMA) announced the launch of the government banking services platform “Naqd”, which allows government agencies to access their accounts at the Central Bank with ease and convenience, in addition to conducting financial transactions...
by Jennifer George | July 16, 2024 | Banking, Fintech, News
Projections indicate that the GCC’s digital assets market will grow by 5.22% between 2024 and 2028, reaching a market volume of $13.25 billion by that time. The UAE and Saudi Arabia are championing developments in the region’s burgeoning sector. In a...
by Vasu Jit Kalia | July 15, 2024 | Banking Regulations
The value of transfers executed in the UAE banking sector through the UAE Funds Transfer System (UAEFTS) hit around AED6.12 trillion in the first four months of 2024, according to the latest statistics from the Central Bank of the UAE (CBUAE). The banking operations...
by Vasu Jit Kalia | July 15, 2024 | Central Banks
Mumbai, July 15 (IANS): India’s largest lender State Bank of India (SBI) has raised its benchmark marginal cost of lending rate (MCLR) by 5-10 basis points with effect from Monday (July 15). Interest rates on loans linked to MCLR are also likely to go up...
by Jibran Munaf | July 15, 2024 | Banking, News
Global banks are increasingly targeting shorter maturities in their purchases of India’s sovereign bonds, capitalizing on improved liquidity amid limited supply, according to Vikas Jain, Bank of America’s head of India fixed income. Foreign banks have purchased...
by Jennifer George | July 12, 2024 | Banking, Fintech, News
Earlier this year, fintech middleman Synapse filed for bankruptcy amidst an array of disagreements with Evolve Bank & Trust on the accuracy of ledger of transactions. Tennesse-based Evolve Bank & Trust managed 85 million bank accounts for the fintech...
