Banking

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    European watchdogs seek details of Facebook’s cryptocurrency

    Reuters . London | Updated at 06:51pm on June 25, 2019

    Facebook’s fledgling cryptocurrency faced mounting scrutiny on Tuesday as European central bankers and regulators demanded more detail on the social media giant’s Libra project. Britain’s...

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    RBI dy governor quits, adding to independence concerns

    Reuters . Mumbai | Updated at 12:00am on June 25, 2019

    Reserve Bank of India deputy governor Viral Acharya has resigned six months before the scheduled end of his term in office citing personal reasons, the...

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    Politicians need to move fast as FB and co move into finance: BIS

    Reuters . London | Updated at 12:00am on June 25, 2019

    Politicians need to quickly coordinate regulatory responses to new risks from technology companies like Facebook moving into finance, though banks won’t be squeezed out anytime...

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    Banks’ return on equity, asset falls sharply in 2018

    HM Murtuza | Updated at 12:00am on June 25, 2019

    Return on equity and asset of the country’s banks almost halved at the end of December last year from that of a year ago, showed...

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    5pc extra tax on interest likely to be revoked

    Shakhawat Hossain | Updated at 12:55am on June 24, 2019

    The government is likely to withdraw extra five per cent tax proposed on interest from saving certificates in the new budget amid criticisms inside and...

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    Pakistan given deadline for counter-terror financing

    Reuters . Paris | Updated at 12:00am on June 23, 2019

    Pakistan has until October to improve its counter-terror financing operations in line with an internationally agreed action plan, a global watchdog said on Friday. The...

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    FATF launches crackdown on cryptocurrencies

    Reuters . Frankfurt/London | Updated at 12:00am on June 23, 2019

    Cryptocurrency firms will be subjected to rules to prevent the abuse of digital coins such as bitcoin for money laundering, a global watchdog said on...

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    Top 300 loan defaulters named in JS 

    Staff Correspondent | Updated at 04:05pm on June 22, 2019

    Finance minister AHM Mustafa Kamal on Saturday gave a list of 300 top loan defaulter of all bank and financial institutions of public and private...

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    European cen bankers claim oversight over FB’s cryptocurrency

    Reuters . Frankfurt | Updated at 12:00am on June 22, 2019

    Three European central bankers are claiming oversight over Facebook’s planned virtual currency to ensure it will not jeopardise the financial system or be used to...

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    NSC sales up 11.54pc in April

    Staff Correspondent | Updated at 12:00am on June 22, 2019

    The net sales of national savings certificates increased by 11.54 per cent year-on-year in April as people went for buying the savings tools ahead of...

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