Tag: #Banks
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Banks told to follow new instructions on sale of third party products
Lahore: State Bank of Pakistan (SBP) has issued a comprehensively revised set of instructions on the sale of third party products by the commercial and scheduled banks. The SBP addresses concerns and brings transparency in the sale of third party products for consumer convenience and protection. In addition to the typical banking products or…
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Jens Weidmann re-elected as Head of International Bank Settlements
Zurich, March 10 (AFP/APP): Deutsche Bundesbank president Jens Weidmann was re-elected Wednesday as head of the Bank for International Settlements, the so-called central bank of central banks. The chief of Germany’s central bank will serve for a third three-year term as chairman of the board of directors at BIS, the Swiss-based international financial institution that links central banks…
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Deutsche Bank Will Cease its Longstanding Relationship with Trump
New York, Jan 12 (AFP/APP): Deutsche Bank will cease its longstanding relationship with outgoing US President Donald Trump, The New York Times reported on Tuesday. Deutsche Bank was Trump’s primary lender for two decades, and he owes the institution more than $300 million, according to the newspaper, which cited an unnamed source as saying the…
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Finance adviser reviews report of banks & financial institutions.
Finance adviser reviews report of banks, financial institutions.The participants of the session emphasised on the provision of temporary relief and other exemptions to the small industries. During the session, Abdul Hafeez Shaikh exchanged views on matters related to the digital economy, remittance and reservations of the Financial Action Task Force (FATF). The participants also urged…
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Banks to reopen in Lebanon after week-long strike
Beirut, Nov 19 (AFP/APP): Banks in Lebanon will reopen Tuesday after a week of strikes following incidents with clients angered by restrictions on withdrawals, as a protest movement entered its second month. The Federation of Syndicates of Banks Employees in Lebanon announced the end of the strike on Monday, saying new security measures had been…
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Seventies a Decade of Unconventional Rise in Profits
After the seventies the unorthodox financialization by the financial institutions led to unconventional rise in the profits made by the corporate sectors and the banks. Until 2007 it had sky rocketed to 40 percent. READ MORE: Why Do We See What We See? Till seventies the banks contributed mainly to the genuine small consumers and…