Banking on cities to renew the planet

One of the strangest media stories of the pandemic has been the mass predictions of ‘de-urbanisation’ or ‘death’ of our cities. To the urbanist-turned-banker these headlines read as naïve, perhaps skewed by the cardinal sin of extrapolation of short-term measures as if they were long-term trends. Let me explain. The century of cities By 2080 … Read more

SEC’s Gensler urges UK to set firm T+1 settlement deadline

Securities and Exchange Commission chair Gary Gensler today urged the UK to set a firm deadline to implement T+1 around which stakeholders can coalesce, and ensure that robust pre-trade processes are in place ahead of time.  “There are many lessons from our experience,” Gensler said in reference to the US’s introduction of a T+1 settlement … Read more

Supporting African SMEs to thrive in the free trade area

The power of every nation is its sovereignty and independence. Most economic communities created across multiple countries are today trading sovereignty for better economic outcomes. With sovereignty being the right of every population, it is imperative that initiatives that trade away this vital asset demonstrate better economic outcomes for most of the people. While the outcome of … Read more

Raiffeisen ceases all outgoing dollar payments from Russia due to US pressure

Raiffeisen Bank International, one of the largest western banks still operating in Russia, has suspended all outgoing payments in US dollars from the country, following warnings that it could be “shut out” of the US financial system. The bank’s action, announced on its Russian subsidiary’s website on June 10, means the bank cannot handle any … Read more

Why development finance needs a facelift

The Covid-19 pandemic is profoundly affecting people worldwide, taking its toll on human lives and highlighting the global inequalities in healthcare. It continues to disrupt supply chains across many sectors, causing such financial strain to businesses that the ripple effect is extending to financial institutions. The consequences are stark for many economic and financial actors. … Read more

Monzo Bank hits profitability amid tougher funding environment

UK digital bank Monzo has become the latest in a line of challenger banks and fintech companies that have moved into profitability following almost a decade of venture-capital-funded expansion, in a sign that the industry is prioritising profitability over growth. Monzo achieved a pre-tax profit of £15.4mn for the financial year ending March 2024, marking its … Read more

Green and gender bonds to help Iceland ‘live up to its image’, says finance minister

Iceland consistently ranks as the most gender-equal country in the world, according to the World Economic Forum’s Global Gender Gap report. The “land of fire and ice” also has an abundance of renewable energy, with almost 100 per cent of energy consumed by the country coming from renewable sources such as geothermal energy. But even … Read more

Central banks strive for stability within their legal limitations

Since its creation two decades ago, the Central Bank of Bosnia and Herzegovina (CBBH) has operated under the currency board regime, which limits its monetary flexibility but adds to its credibility. While banking supervision does not sit under the CBBH, but rather two other banking agencies, the central bank carefully monitors financial stability and regularly … Read more