Tag Archives: central bank

Central Bank Governor Riad Salameh has said that banks are now allowed to unlimitedly buy U.S. dollars from the central bank in Lebanese pounds at the price specified by the Sayrafa platform. “In addition to the monthly quota that the banks are withdrawing in USD, the banks now have the …

Mount Lebanon Attorney General Judge Ghada Aoun on Tuesday ordered General Security to impose a travel ban on Central Bank Governor Riad Salameh in connection with a lawsuit filed against him by activists. A leaked copy of Aoun’s order says Salameh should be barred from traveling through all land, sea …

Egypt’s central bank said on Monday it had approved a set of rules under which it would be able to provide emergency liquidity to local lenders. Banks can apply to receive emergency liquidity if they cannot get it from the interbank or financial markets, the central bank said in a …

The Presidency on Thursday snapped back at those who criticized President Michel Aoun over the administrative and financial decentralization remarks in his latest speech. “Politicians and journalists have deliberately taken out of context parts of President Michel Aoun’s address to the nation, interpreting them in a manner that contradicts with …

A British court ruled on Friday in favour of a Lebanese bank in a case brought by a depositor barred from transferring funds abroad because of capital controls in place since Lebanon’s financial system collapsed in 2019. The court ruled that BLOM Bank could be considered to have discharged its …

The first Iranian fuel oil cargo secured through Lebanon’s armed group Hezbollah will be delivered via Syria by truck to avoid complications related to sanctions, two sources with knowledge of the mater said on Thursday. Hezbollah, a heavily armed group founded by Iran’s Revolutionary Guards in 1982, announced last month that a shipment of Iranian fuel oil was on its way …

A dispute over scarce fuel supplies ignited sectarian tensions between neighbouring Shi’ite Muslim and Christian villages in southern Lebanon over the weekend, forcing the army to intervene, a security source said. Clashes mostly centred on the crippling gasoline and diesel shortages have become a daily occurrence in Lebanon, prompting growing …

Three Lebanese men died in altercations on Monday related to scarce fuel supplies, an army statement and security source said, as the country reels from a long-running economic crisis. Lebanon’s currency has lost more than 90% of its value in less than two years, causing shortages of fuel, electricity and …

President Tayyip Erdogan said on Sunday that Turkey’s central bank had agreed with China to increase an existing currency swap facility to $6 billion from $2.4 billion, in a move that could boost foreign reserves. Turkey’s FX reserves plunged by 75% last year, raising concerns about a possible balance of …

Turkey’s lira briefly fell 15% to near its all-time low on Monday after President Tayyip Erdogan abruptly fired the central bank governor at the weekend and installed a critic of tight policy who is expected to reverse recent rate hikes. Sahap Kavcioglu, a former ruling party lawmaker who shares Erdogan’s …

The abrupt resignation of Tayyip Erdogan’s son-in-law from one of Turkey’s most powerful cabinet positions shocked the government and angered some ruling party members who say the nature of his departure damages the president. Finance and Treasury Minister Berat Albayrak oversaw economic policy for two tumultuous years during which Turkey …

Uzbekistan, long unknown to most Westerners, is already shaping the travel scene for 2020. This culturally rich and historically compelling country, along with the rest of central Asia, has been named the No. 1 travel region for the new year by travel website Lonely Planet due to its easy access …

Ten-year term interest rate SWAPs maintained an upward movement in 2018, spiking to 4.39 percent in mid-November from 3.7 percent in early January before rebounding to 4.15 percent by the end of the year, statistics by the Central Bank of the United Arab Emirates have shown. Interest rate swaps are …

Central Bank of the UAE (CBUAE) regularly ensures all banks operating in the UAE are provided with new bank notes to meet the needs of their customers during festive seasons. ”As Eid Al Fitr approaches, CBUAE has instructed all banks to ensure cash exchange services are well taken care of …

Using cheques to settle bills, from rents, utilities to big-ticket purchases remains popular in the UAE, but it looks like people have smartened up or gotten extra cautious when dealing with non-cash transactions. The latest official data show that there have been fewer bad cheques intercepted in 2018 than in 2009, …

Expatriates in the UAE continue to send more of their earnings back to their home countries as the US dollar holds strong against several currencies, with remittances in the last quarter alone reaching Dh43.2 billion. According to the figures released by the UAE Central Bank, outgoing money transfers went up by Dh1 …

UAE Central Bank is taking measures to mitigate risks arising out of cyber-attacks and is planning to set up a dedicated department to deal with the issue, its governor said in Abu Dhabi on Wednesday. “Cyber risks go hand in hand with digitalization of financial services,” said Mubarak Rashed Al …