Britain encouraging banks to create sharia compliant instruments

Seeing a possible windfall of money from oil and gas rich investors, Britain is urging banks to create instruments to address the USD2.6 trillion market by 2017.

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Certificate of Deposit rate rigging scandal investigation continues with visit to KFIA

The Korean Financial Investment Association was visited by members of the Fair Trade Commission to obtain documents on its probe as to alleged rate fixing for the country's certificate of deposit.

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Chinese authorities pushing banks to comply with Basel III

The Chinese government, amidst calls for a pending crisis due to bad debts, is pushing its banks to shore up its capitalization in compliance with Basel III.

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Former Lehman Brothers employees help wind down bank's business

Tom Bolland, current COO of Lehman is helping wind down the bank's business.

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HSBC declines in value and undertakes house cleaning

HSBC's stock falls as it advises diplomatic missions to close their accounts with their bank.

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Leading helicopter leasing company secures new US $300 mln loan

Milestone Aviation secures a US $300 million loan facility from Lloyds, Barclays and Lombard.

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Bank fraud to be filed against Wall Street bankers in housing mess

US federal prosecutors revive a 30 year old law to prosecute Wall Street banks that sold toxic loans in 2008.

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Opus Bank forms Commercial Real Estate Banking division

Opus Bank gears up for the expansion of its Income Property Banking division with the creation of Commercial Real Estate Banking division.

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Oman-based lenders create interbank market trough wakala

Lenders based in Oman are developing a wakala, an agency agreement that is sharia compliant to help back their interbank financing needs.

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Ex IMF chief joins the board of Rosneft-owned bank

Dominique Strauss-Kahn joins the Russian Regional Development Bank, a Rosneft-owned bank.

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Austria’s second biggest lender announces ‘massive’ cost-cutting plan

Raiffeisen Bank International explores cost-cutting measures to raise Eur 1.8 billion.

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Gazprombank rather wait, postpones negotiations on Swiss Franc Tier 2 Bond Deal

Russia's Gazprombank has withdrawn from the Swiss franc Tier 2 Bond deal, source revealed.

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Investment banks accused of conspiracy

The European Union accused 13 investment banks for conniving against rivals in the credit derivatives industry.

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CORRECTED: Mauritius Commercial Bank to raise US$161 million

Mauritius Commercial Bank is aiming to raise 5 billion rupees.

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China's Sovereign Wealth Fund Invests in Banks

In a bid to uplift consumer confidence, Beijing's Central Huijin Investment Co had invested in banks in the form of share purchases.

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