Banking

  • What the West Can Learn From Islamic Banking

    What the West Can Learn From Islamic Banking

    Across the Middle East and South-East Asia, Islamic financial institutions hold aggregated assets estimated to be worth $50 billion. To some, this cash-rich sector represents a huge opportunity for growth and investment. But perhaps, what Islamic banks can really offer is a set of guiding principles that can enhance financial stability, four years after the crisis.

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  • Are Vickers Proposals Moving Banks In The Right Direction?

    Vickers' Banking Reforms: Yay or Nay?

     23 September 2011.

    Sir John Vickers recently unveiled the Independent Banking Commission’s proposed reforms for the United Kingdom’s bloated and dysfunctional banking sector. In the 358-page article, neither the words “ethics” nor “ethical” are mentioned once. Is it any wonder that many have lambasted the report as a “total waste of time”?

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  • Takeover Turmoil: Problems Pile Up For The Bank of America

    Takeover Turmoil: Problems Pile Up For The Bank of America

    16 September 2011.

    In 2008, the Bank of America (BoA) purchased Countrywide Financial for US$4 billion. However, in the aftermath of the housing bubble bust, the purchase of Countrywide has already brought losses in excess of US$30 billion to BoA – forcing BoA’s CEO, Brian Moynihan to sell an equivalent amount of assets in an attempt to right the ship. But, this was not an isolated incident. The wreckage of such deals has littered banking history in recent years.

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