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Fed denies Custodia Bank application to join the Federal Reserve System By Cointelegraph
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Fed denies Custodia Bank application to join the Federal Reserve System By Cointelegraph

The United State Federal Reserve Board has rejected Custodia Bank’s application to become a member of the Federal Reserve System. In its announcement, the Fed stated that the application was “inconsistent with the required factors under the law.” It also claimed Custodia had an “insufficient” management framework and cited an earlier joint declaration by the...

Saudi Central Bank Says Ongoing CBDC Experiment Focused on Domestic Wholesale Use Cases – Fintech Bitcoin News
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Saudi Central Bank Says Ongoing CBDC Experiment Focused on Domestic Wholesale Use Cases – Fintech Bitcoin News

Saudi Arabia’s central bank digital currency (CBDC) experiment, which is being carried out in conjunction with local banks and fintechs, is presently focused on domestic wholesale uses cases, the central bank has said. Meanwhile, the Saudi Minister of Finance has said CBDCs can be a “fantastic tool” which can be used by developing countries as...

Dollar ticks up ahead of central bank meetings next week By Reuters
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Dollar ticks up ahead of central bank meetings next week By Reuters

2/2 © Reuters. FILE PHOTO: U.S. Dollar banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo 2/2 By Iain Withers LONDON (Reuters) – The dollar edged up on Friday to pull away from multi-month lows against the euro and sterling, as investors began to train their sights on a slew of...

Dubai Investments acquires 9% stake in UK-based Monument Bank
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Dubai Investments acquires 9% stake in UK-based Monument Bank

Thu 26-01-2023 17:24 PM DUBAI, 26th January, 2023 (WAM) – Dubai Investments PJSC (DIC) has acquired a 9% equity stake in Monument Bank Limited, a UK-based digital bank regulated by the Financial Conduct Authority (UK) and the Prudential Regulation Authority (UK). Monument Bank is focused on the ‘mass affluent’ segment in the UK and aims...

Bank of Mexico should discuss decoupling from U.S. Fed, says Mejia By Reuters
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Bank of Mexico should discuss decoupling from U.S. Fed, says Mejia By Reuters

© Reuters. FILE PHOTO: The logo of Mexico’s Central Bank (Banco de Mexico) is seen at its building in downtown Mexico City, Mexico August 9, 2022. REUTERS/Henry Romero MEXICO CITY (Reuters) -Decoupling from the U.S. Federal Reserve’s monetary policy should be one matter for discussion for the Bank of Mexico’s governing board at its upcoming...

China says EXIM bank provided Sri Lanka with debt extension By Reuters
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China says EXIM bank provided Sri Lanka with debt extension By Reuters

© Reuters. FILE PHOTO: A general view of Sri Lanka’s main business city as Sri Lankan President Ranil Wickremesinghe announced 2023 budget amid the country’s economic crisis, in Colombo, Sri Lanka, November 14, 2022. REUTERS/ Dinuka Liyanawatte By Yew Lun Tian BEIJING (Reuters) – China’s foreign ministry said on Thursday the Export-ImportBank of China (EXIM)...

National Bank of Fujairah’s net profit totals AED 340.4 million in 2022
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National Bank of Fujairah’s net profit totals AED 340.4 million in 2022

FUJAIRAH, 25th January, 2023 (WAM) — The National Bank of Fujairah (NBF) recorded year-on-year growth of 195.3 percent to close the year at a net profit of AED 340.4 million compared to AED 115.2 million in 2021, according to its 2022 financial results, which it announced today. The figures showed that the bank logged its...

Sharjah Islamic Bank achieves record net profit of AED651 million
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Sharjah Islamic Bank achieves record net profit of AED651 million

SHARJAH, 25th January, 2023 (WAM) — Sharjah Islamic Bank (SIB) continues to achieve sustainable growth, recorded an increase of 26.6 percent in the net profit reaching AED 650.9 million for the year ending 31st December, 2022, compared to AED 514.1 million in the same period of 2021. The Bank also reported an increase in operating...