Trump victory gifts Russian oligarchs $29bn as energy share prices soar

Russian oligarchs: Rising share prices and a resurgence in the value of the rouble brought on…

Nabiullina named best European central banker as purge continues

Three years into her purge of the country’s banking sector which to date has seen 276…

Islamic banking proposal could see ‘trillions of dollars’ flood into India

Islamic banking: Moves by the  Reserve Bank of India (RBI)  to offer  its banks an “Islamic window”…

Thousands apply for Iranian credit cards as consumer boom heats up

Iranian credit cards: More than 12.000 Iranians rushed to  apply  for credit cards  yesterday as its…

US treasury accused of ‘terrorism’ as Russia looks to win race to secure foothold in Iranian banking sector

Iranian banking sector: Russian banks  are ready to steal a march on their Western counterparts by…

Shariya Review Bureau to help Zaman roll Islamic banking across CIS

Islamic banking in CIS: Kazakhstan’s  Zaman Bank has appointed the Shariyah Review Bureau (SRB) to help roll out…

Moscow rules out VTB sale in 2015

VTB sale:  Russia’s state-owned VTB will not be privatised this year, Deputy Prime Minister Igor Shuvalov…

Tehran Stock Exchange accepted for WFE membership

The World Federation of Exchanges (WFE)  has written to he chairman of of the Tehran Stock…

AIIB membership set to rise by over 50%, President predicts

AIIB membership: The number of AIIB member states is likely to rise from 57 to almost 90…

$100m CAREC motorway becomes first ADB-AIIB co-financed project

 CAREC motorway: The Asian Development Bank (ADB) yesterday agreed to lend Pakistan  $100m to complete the remaining 64km…

EBRD signs MoU with Silk Road Fund in boost to One Belt One Road initiative

The  European Bank for Reconstruction and Development (EBRD) yesterday signed an MoU with Beijing’s Silk Road Fund in…

Financial centre planned for Iran’s Qeshm Island as window to mainland

Iran wants  to set up a financial centre on Qeshm Island in the Strait of Hormuz to act…

China to open yuan trading branches in London and New York as currency

The China Foreign Exchange Trade System (CFETS), China’s  state-owned currency marketplace is preparing to open  yuan trading…

Bejing opens up $8trn Chinese credit card clearing market up to competition

Beijing this week officially ended UnionPay’s  longstanding monopoly and opened up the  CNY 55 trn ($8.4bn)  Chinese credit card clearing…

AIIB membership set to hit 100 by year end, predicts president

AIIB membership: The 57-strong Asian Infrastructure Investment Bank (AIIB) will have almost 100 member  countries and regions…

Norisk Nickel CEO Potanin tops Bloomberg list of Russian billionaires

US publisher Bloomberg  has named Nickel CEO  Vladimir Potanin Russia’s richest man with assets valued at $14.7bn in its…

Paypal to quit Turkey after licence application is rejected

Turkey’s determination to localise its fintech infrastructure has  prompted  Paypal to announce that it is halting operations in the…

Banking restrictions on Iranian euro conversions lifted – but not on dollars

Banking restrictions on Iranian euro conversions have now been lifted, the Director  General of its  foreign ministry’s…

South Korean investors announce plans to buy into Uzbek banking sector

Uzbek banking sector: Investors from South Korea are planning to buy 15% stakes in two Uzbek banks…

AliExpress becomes first foreign company to accept Mir credit card

Chinese online retail giant AliExpress will be the first foreign company to accept Russia’s national Mir credit…

ICBC and Visa hook up to launch credit card for expats in US

ICBC and Visa: The Industrial and Commercial Bank of China (ICBC) yesterday launched its first credit card…

Moody’s downgrades Kazakhstan credit rating on effect of oil price drop

Kazakhstan credit rating: Moody’s Investors Service has downgraded the issuer and senior unsecured ratings of the Government of…

Moody’s holds Russian bond rating at Ba1 as economy shows resilience

The international credit rating agency Moody’s Investors Service has confirmed Russia’s government bond and issuer ratings at…

ADB lending hits record high

ADB lending hits record high: ADB lending surged to a record $27.17bn last year as efforts…