Monthly Archives: March 2022

Representative panel uncovers N300bn of ‘unclaimed funds’ in commercial banks

A House of Representatives committee said it discovered 300 billion naira of “unclaimed funds” in some banks across the country. Unyime Idem, chairman of the ad hoc commission to investigate “suspicious and unclaimed funds” in various commercial bank accounts, disclosed on Wednesday. The committee was inaugurated by the Lower Legislative …

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Currency Sorting Machine Market Size, Growth Drivers, and Forecast

New Jersey, United States – This Currency Sorting Machine Market The report provides a comprehensive overview of significant aspects that will drive market growth such as market drivers, restraints, prospects, opportunities, restraints, current trends, and technical and industrial advancements. The detailed study of the industry, the development and improvement of …

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More than 300 billion naira in failed transactions suspended in commercial banks: Representatives

The House of Representatives Ad Hoc Committee on Unclaimed Funds in Commercial Banks in Nigeria has discovered over N300 billion trapped in banks. The chairman of the committee, Uyme Idem, said in Abuja on Wednesday that the amount represented a fraction of unclaimed funds in commercial banks. Mr Idem said …

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Columbia Banking System (NASDAQ:COLB) lowered to hold at Zacks Investment Research

Columbia Banking System (NASDAQ:COLB – Get an assessment) was downgraded by Zacks Investment Research from a “strong buy” rating to a “hold” rating in a note released Monday to investors, Zacks.com reports. According to Zacks, “Columbia Banking System, Inc. is a registered bank holding company whose wholly-owned subsidiary, Columbia State …

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Global Currency Counting Machines Market Growth (Status and Outlook) 2022-2030 – Instant Interview

Currency Counting Machine Market Outlook: Global Currency Counting Machine Market the report includes the objectives and scopes of the market during the forecast period by highlighting the key segments, trends and major players to provide comprehensive data on the market status, trends, segmentation and development forecast of the global currency …

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RBF reports that in December 2021, commercial banks set aside $185.9 million as loan provisions

RBF reports that in December 2021, commercial banks set aside $185.9 million as loan provisions The Reserve Bank of Fiji reports that in December 2021, commercial banks made provisions of $185.9 million for loans that were identified as having some element of non-compliance with the conditions for which they were …

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No Threat to the Banking System – Banking Industry Experts

Former Central Bank Deputy Governor and current chairman of the committee examining options for reviving bankrupt financial firms, Dharma Dheerasinghe, mocking rumors of threats against the banking sector, said he would not There was no threat to the banking and financial sector which is monitored and supervised by the Central …

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Currency Converter Apps Market Size and Analysis by 2022-2029- SmartWho,XE,ExtraAndroary,Currency App,JRustonApps,DigitAlchemy – Instant Interview

the Currency converter apps The report is an in-depth examination of the global Currency Converter Application general consumption structure, development trends, sales techniques and major countries’ sales. The research covers well-known vendors in the global Currency Converter Application industry along with market segmentation, competition, and macroeconomic climate. A comprehensive Currency …

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PEPPER by Leumi will enable cryptocurrency trading

TEL AVIV, Israel, March 25, 2022 /PRNewswire/ — Pepper Investdigital investment platform Pepper by Leumi (TASE: LUMI), today announced the launch of an innovative and unique service for the Israeli banking system – cryptocurrency trading. Pepper will thus be the first banking platform in Israel – and among the few …

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Sri Lankan stocks end flat as Cenbank secures banking system stability

March 24 (Reuters) – Shares in Sri Lanka tread water on Thursday as gains in industrial companies offset losses in stocks of consumer staples, even as the country’s central bank provided stability to the struggling country’s banking system. * The CSE All-Share Index .CSE ended down 0.06% at 10,451.71 points. …

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Sri Lanka’s central bank says the banking system is stable

Sri Lanka’s state-owned banks are functioning well and the banking system is stable, the island nation’s central bank said on Thursday, in response to concerns raised by an opposition lawmaker. Sri Lanka is facing an economic crisis as it struggles to pay for essential food and fuel imports after a …

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US-Zimbabwean sanctions against John Bredenkamp haunt South Africa’s banking system

John Bredenkamp CAPE TOWN – As South African commercial banks rely heavily on the Supreme Court of Appeal (SCA) judgment in Bredenkamp & Others v Standard Bank, 2010, the court ruled in a ban by Bredenkamp, ​​that the banks had too much power. South Africa’s commercial banks generously cite the …

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The Sudanese pound continues to fall against foreign currencies

The Sudanese pound continues to tumble against foreign currencies, whether in commercial banks or on the parallel market. Khartoum: Al-Taghyeer On Tuesday, the Sudanese pound plunged to unprecedented lows in the parallel market, as its price fell to 700 pounds for every US dollar. Parallel market …

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Backed by local commercial banks and institutional investors, ThriveAgric raises $56.4 million to accelerate pan-African expansion plans

Founded in 2017 (and fully operational since 2018), ThriveAgric enables Nigerian farmers to sell their produce to FMCGs and food processors, leveraging its proprietary technology to access finance and improve productivity and sales to promote safety eating. Farm Operating System (AOS) technology operates entirely offline, sending USSD to farmers and …

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Dispatch Afghanistan: the Taliban want to replace the conventional banking system with Islamic banking – JURIST

Law students and lawyers in Afghanistan file reports with JURIST on the situation there after the Taliban took over. Here, a JURIST staff correspondent in Kabul reports on recent changes to laws affecting Afghanistan’s banking and financial sector. For reasons of confidentiality and security, we retain the name of our …

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Russian Banks Must Track Crypto-Related Transactions Amid Currency Restrictions CryptoBlog

The Bank of Russia has recommended that commercial banks pay increased attention to their clients’ transactions related to cryptocurrencies. The regulator requires financial institutions to monitor such activity amid restrictions on foreign exchange trading amid Western sanctions. Monetary authority urges banks to control spending on crypto assets The Central Bank …

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Commercial banks expect to expand foreign room | Business

According to the Securities Depository Center, out of 30 publicly traded commercial banks, only 15 have a foreign ownership rate above 15%. Among them, many commercial banks listed in the market are almost short or short of foreign place, such as VietinBank, Vietcombank, MB, ACB, ABBank, Eximbank, MSB, OCB, Techcombank, …

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The Competition Commission investigates commercial banks

The Namibian Competition Commission this week launched investigations against local commercial banks and the Bankers Association of Namibia for fixing interchange rates, possible discriminatory behavior in the provision of insurance for home loans, unfair pricing of certain ancillary services and discrimination in the granting of housing loans to customers belonging …

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Ecobank leads as 10 commercial banks spend over N400bn on salaries and staff wages in 12 months

Working in banking is a dream for many Nigerian graduates as they believe there is a lot of money to be made And indeed there are, as 10 commercial banks paid workers wages and salaries of over 400 billion naira in 2021 The amount entered in this report only covers …

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Global Currency Sorters Market 2021 Development Strategy, Competitive Landscape and Regional Forecast to 2027 – The Bollywood Ticket

The currency sorter market supports businesses and the economy as a whole. The relationship with Global Currency Sorters Market reflects the current state of the business with a point of view that it offers interested parties leading to the creation and operation of the condition. The study also examines the …

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Russia could soon default on its foreign currency debt

Last week, Fitch Ratings downgraded its rating on Russia’s long-term foreign currency debt, “reflecting[ing] Fitch believes a sovereign default is imminent. Russia could validate Fitch’s warning on Wednesday. This is the deadline by which the government must make $117 million in interest payments on the dollar bonds. He has a …

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Zenith leads as seven commercial banks withdraw over N75 billion from customer accounts as maintenance fees

Account maintenance fees are levied on all debit transactions initiated by the customer, and the bank collects these fees at the time of the transaction The investigation revealed that more than seven commercial banks collected more than N75 billion in customer account management fees. The account maintenance fee tax has …

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Commercial banks bullish on economy despite fears…

You would never know how worrisome South Africa’s short-term economic outlook is from looking at the latest financial results from the country’s major banks. FirstRand (owner of ETFs, WesBank and RMB), Standard Bank and Absa have released financial results in recent days, which indicate that their operations have recovered from …

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South Sudan’s apex bank reduces currency auctions to commercial banks

banks The Central Bank of South Sudan announced on Friday that it has reduced its weekly amount of foreign exchange auctions to commercial banks and money changers, citing the scarcity of the South Sudanese pound (SSP) in the market. Moses Makur Deng, Governor of the Bank of South Sudan, said …

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Biden takes big step toward government-backed digital currency

A US digital currency could be on the horizon. The Biden administration is supporting the research and development of a “US central bank digital currency,” or CBDC. The move is part of a broad executive order signed by President Joe Biden on Wednesday asking the federal government to explore possible …

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Xace announces multi-currency accounts expanding its payment network to SWIFT – European Gaming Industry News

Reading time: 5 minutes Here are the latest slot machine releases from this week! Belatra Games is delighted to announce that Legacy of Doom is the latest title to join its outstanding portfolio. Belatra’s Legacy of Doom is set in ancient Egypt among some of the world’s finest architecture, literature, …

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Finance Minister makes first transaction in digital currency

Finance Minister Dr. Nigel Clarke made the first digital currency transaction using the digital wallet, Lynk, on Tuesday. He used the Lynk app to pay his hairstylist, Paul Mills of PaulBless Cutz, in the central bank’s digital currency, Jam-Dex, as he opened the debate on the 2022-23 budget. Jam-Dex is …

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The Bank of Israel explores the impact of the digital shekel on the banking system – Ledger Insights

Last week the Bank of Israel published an article assessing the potential impact of issuing a central bank digital currency (CBDC) – the digital shekel (SHAKED) – on the stability of the banking system. While the central bank has built a action plan for the potential issuance of the SHAKED, …

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Commercial banks tear up Iqbal Survé’s claims of c…

SA’s biggest commercial banks have defended their decision to review or completely end their banking relationships with companies linked to Iqbal Survé, saying the treatment of his business empire was not unusual or outside normal banking practice. , especially when it came to high profile people and risky clientele. And …

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CBN moves to enable commercial banks to meet foreign exchange needs

The Central Bank of Nigeria (CBN) is proposing a new initiative called RT200 PX which will compel commercial banks to source for their foreign exchange needs through the promotion of non-oil exports as a means of deepening the diversification of the economy as well as strengthen the country’s foreign exchange …

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Commercial bank borrowing from CBN falls for second consecutive month

Commercial bank borrowing from the Central Bank of Nigeria for the second consecutive month fell and now stands at N666 billion CBN revealed this in its latest financial data published on its website and obtained by Ripples Nigeria. Banks and merchant banks often access the CBN’s Standing Lending Facility (SLF) …

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NIPOST plans biometrics and agency banking to push financial inclusion in Nigeria

The Nigerian Postal Service (NIPOST) is contributing to the country’s financial inclusion efforts in the form of a biometric registration campaign, as it expects to see an announced agency banking platform fully operational soon. The system in question was unveiled in January, but is expected to officially launch this month, …

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Student loses RM42,000 to video currency scam

KUANTAN: A student from a public university claimed to have lost RM42,500 while trying to buy video game currency advertised on Instagram. The head of Pahang’s commercial crime investigation department, Superintendent Mohd Wazir Mohd Yusof, said the 22-year-old victim claimed to have contacted the owner of the Instagram account on …

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Commercial banks, authorized stockbrokers in Lebanon to trade currencies

BEIRUT: The Central Bank has decided to launch its own electronic exchange platform to record all transactions with the help of commercial banks and licensed currency traders, the president’s office announced on Friday. The move was part of an effort by BDL to reduce the Lebanese pound’s exchange rate against …

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The United States needs a form of central bank digital currency that protects privacy

Text size Allowing individuals to maintain accounts with the Federal Reserve could capture the benefits touted by cryptocurrency proponents without the risks, write Andrew M. Bailey and William J. Luther of the Bitcoin Policy Institute. Brent Lewin/Bloomberg About the authors: Andrew M. Bailey is an Associate Professor of Humanities at …

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Kuda Bank challenges the traditional banking system in Nigeria and has won so far

Kuda Bank entered the Nigerian banking industry in 2017 as a then digital-only bank and won hearts Kuda uses technology as part of its advantage over conventional banks and targets the young population in Nigeria Experts are divided on the viability of Kuda’s model, but believe it is new and …

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Currency sorting machine market is witnessing huge growth in the industry – business philosophy

“Global Currency Sorting Machine Industry: With a significant growing CAGR during the period 2022-2026 New Research Report on Currency Sorting Machine Market which covers Market Overview, Future Economic Impact, Manufacturer Competition, Supply (Production), and Consumption Analysis Understand the influence of COVID-19[female[feminine on the Currency Sorting Machine Market with our analysts …

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FinMin: The Cypriot banking system is not exposed to Russia | Stockwatch

Economic sanctions imposed on Russia following Ukraine invasion do not affect Cyprus to a large extent as island’s banking system is not exposed to Russia, finance minister says Constantinos Petrides, noting that Cyprus has no reserves held by the Russian Central Bank abroad. which are now frozen. “The sanctions on …

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Russia’s biggest lender pulls out of Europe as banking system crumbles

Russia’s biggest lender pulls out of Europe as country’s banking system crumbles under Western sanctions By Daily Mail City & Finance Reporter Published: 5:01 p.m. EDT, March 2, 2022 | Update: 5:01 p.m. EDT, March 2, 2022 Russia’s biggest lender is pulling out of Europe as Western sanctions plunge the …

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The solidity of the banking system opens up opportunities for SMEs

The good times that the Honduran banking sector is going through could encourage the development of projects by entrepreneurs and owners of micro, small and medium-sized enterprises, who need access to credit to strengthen or reopen their businesses. Despite the somewhat unfavorable context in Honduras due to the pandemic and …

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Most Valuable Commercial Banks in Nigeria in February 2022

Zenith Bank has cemented its position as the most capitalized financial institution listed on the Nigerian stock market, having earned N32.97 billion in the month of February 2022 to close the month at N850.85 billion. This is according to data collected by Nairalyticsthe Nairametrics research arm of the Nigerian Exchange …

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Commercial banks raise interest rates on deposits, businesses face difficulties | Business

Commercial banks raise interest rates on deposits, businesses face difficulties. (Photo: SGGP) Increase in demand for capital Since the Lunar New Year, to mobilize people’s idle money, many commercial banks have increased their interest rates on savings by 0.2-0.8% per year, mainly for terms longer than six months. . The …

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Currency Converter Application Market 2022 – Latest Sales Figure Signals More Opportunities Ahead

“Currency Converter Application Market 2022 The Global Currency Converter Apps Market report provides insight into the global industry including valuable facts and figures. This research study explores the global market in detail like industry chain structures, raw material suppliers, along with manufacturing. The Currency Converter Application Sales market examines the …

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