Middle East
The IFF China Report 2019: The Belt and Road Initiative
Over the past five years, China has invested more than $70 billion in Belt and Road Initiative (BRI) countries, of which there are now in excess of 100. Leading Chinese and international policy-makers explain how BRI efforts are progressing. This section…
The Belt and Road Initiative 2019 Survey – A new driver for globalisation?
The second Belt and Road Initiative (BRI) Survey of 28 central banks reveals that they view the BRI as a major driver of globalisation, with a high percentage of respondents expecting the initiative to provide a significant boost to GDP. So far,…
Bahraini women gain prominence in financial sector
Number of local women employed increases by 2.2% in 2018, central bank data shows
The IFF China Report 2019: New globalisation – The path to the future
Multilateral rules and multilateral bodies will need to be upgraded in the coming years to better represent the shift in economic gravity towards Asia, which has emerged as the largest contributor to global growth during the past decade.
Arab regional payment system set for 2020 launch
The new system would replace the costly and inefficient correspondent bank model
Housing debt increases on the back of reforms – Israel annual report
Bank of Israel documents changes in the mix of credit as reforms look to increase competition in the credit market
Podcast: Bank of Israel’s Flug reflects on her time as governor
Former IMF economist talks about how her love of policy helped her lead Israel’s central bank
Arab countries must improve funding of small businesses – IMF’s Lagarde
SMEs make up 96% of Arab world’s businesses but get only 7% of bank loans – IMF chief
UAE central bank and Sama partner for blockchain project
New system will provide central financial transfer system that aims to make the process of remittance payments more efficient
Bank of Israel to form financial stability committee
Central bank governor will chair committee aimed at co-ordinating regulators
UAE government overhauls central bank law
Move is “significant step” to reinforce central bank’s independence, says governor
Dubai regulator issues ‘innovation testing licenses’ to six fintech firms
Licenses will allow firms to test products with relaxed regulatory requirements
Bank of Israel files first civil lawsuit against counterfeiters
Counterfeiters already convicted of forging “tens of thousands” of the new 200-shekel note; central bank seeking €100,000 in compensation
The IFF China Report 2018: The Belt and Road Initiative
China’s signature Belt and Road Initiative (BRI) now includes 71 countries, with trillions of dollars of investment allocated. Leading Chinese and international policymakers explain how BRI efforts are progressing. This section includes an inaugural…
A route to economic growth – The Belt and Road Initiative 2018 survey
To mark the fifth anniversary of the Belt and Road Initiative (BRI), the IFF – in collaboration with Central Banking – conducted its inaugural Belt and Road Survey of central banks from more than 25 countries and regions. The survey examines BRI…
Saudi Arabia’s Alkholifey on economic restructuring, reserves and cyber security
The Saudi Arabian Monetary Authority’s governor talks to Christopher Jeffery about the restructuring of the Saudi economy, the impact of low oil prices on reserves and anti-money laundering efforts
Sama enables blockchain for cross-border payments
Pilot with Ripple will allow domestic banks to settle payments across the xCurrent network; payments infrastructure based on the Interledger Protocol
Saudis deposit $3 billion to build up Yemeni central bank
Saudis are also training central bank staff, and say US and UK are supporting capacity-building
Global custodian of the year: BNY Mellon
The US asset specialist has made strong progress in its effort to offer a seamless overlay of its disparate legacy systems, while also providing improved training to official institutions
IMF welcomes reform progress in Egypt
A flexible exchange rate and tighter policy have helped stabilise the economy
Egypt’s new banknote facility to be built by G&D
German firm awarded over $300 million for successful tender which will see “majority” of Egypt’s banknotes printed at the plant
Iran needs financial sector reform – IMF staff
Central bank should have greater independence and supervisory powers, urge IMF staff
FSB’s Mena group meets in Abu Dhabi
Turkish and Qatari governors are set to chair the regional group from June 30
Lebanese banking sector holding up, despite Syria crisis – central bank
The banking sector remains liquid and well capitalised despite a “strained” Lebanese economy, the central bank says; new compliance unit formed