Author: Reputation Poll

Britain on Tuesday scrapped a decade-old cap on banker bonuses inherited from the European Union, signalling a clear divergence in post-Brexit financial rules from the 27-country bloc it left in 2020. Britain was outvoted in the EU when the cap was introduced in 2014 to try to prevent the kind of behaviour that led to the global financial crisis of 2008 and its accompanying taxpayer bailouts of lenders. The move to ditch the cap drew criticism from trade unions and campaigners on Tuesday, who dubbed it inappropriate at a time when many households were struggling in a cost of living…

World fintech and banking industry stakeholders will converge in London, United Kingdom (UK) for this year’s edition of the Global Reputation Forum (GRF)/Reputable Banks and Fintech Awards & Conferences (RBFA), bringing together experts from both the financial and technology sectors 8-9 December, 2023. The quintessentially British London Marriott County Hall will be venue to the annual event which provides a platform for fintech startups and established banking institutions to showcase their latest innovations. Participating institutions and personalities get to witness firsthand how technology is transforming traditional banking services, from digital payments and lending to robo-advisors and blockchain-based solutions. Besides its…

Big banks in Britain are preparing for any future escalation of Western sanctions on China and have shared their “scenario planning” with the British and U.S. governments, a senior banking official has told Reuters. The project involves sharing lessons learned from other sanctions frameworks, including those on Russia, and discussions about the effect any measures imposed on China might have, Neil Whiley, director of sanctions at lobby group UK Finance, said. After many companies were wrongfooted by the speed and breadth of prohibitions on Russia, banks are drawing up contingency plans in case geopolitical tensions between the West and China…

U.S. Defense Secretary Lloyd Austin announced Sunday that he has ordered American military ships, including an aircraft carrier and additional aircraft, to move closer to the eastern Mediterranean in response to Hamas’ unprecedented, multi-fronted attack on Israel. At least four U.S. citizens were among the more than 700 people killed in Israel amid Hamas assault, according to a Sunday night statement from Senate Majority Leader Chuck Schumer. “Today, in response to this Hamas attack on Israel, and following detailed discussions with President Biden, I have directed several steps to strengthen Department of Defense posture in the region to bolster regional…

Despite having around 28 per cent of the world’s Muslim population, Africa’s Shariah compliant banking assets make up only around two per cent of global Islamic banking assets, Moody’s Investors Service has said. A report issued Thursday by the rating agency, stated that African Islamic banks face obstacles to growth, including high level of competition from conventional banks in some countries and a lack of product awareness in some other jurisdictions. While the industry’s na- scent legal and regulatory landscape has been among the constraints, there is noticeable progress now being made in jurisdictions such as Morocco, Nigeria and across…

The Jamaica Bankers Association (JBA) today announced the resignation of Septimus ‘Bob’ Blake as president of the association, with effect on Friday, September 29. “Mr Blake has been a dedicated and visionary leader during his tenure and his departure marks the end of a chapter filled with formidable contributions to the development of the Jamaican banking sector,” the association said in a press release today. “Under Mr Blake’s leadership, the JBA made significant strides in its advocacy for the interests of its member organisations and other stakeholders within the industry. His fostering of the ideals of transparency, collaboration, and innovation…

Mid-sized British lender Metro Bank (MTRO.L) saw its shares plunge more than 25% on Thursday following reports it is trying to raise as much as 600 million pounds ($729 million) to strengthen its capital levels. It is another setback for the upstart lender, launched in 2010, which at one time looked like the best bet to shake up a banking market dominated by behemoths like Barclays (BARC.L), Lloyds Banking Group (LLOY.L) and NatWest (NWG.L). WHY DOES METRO BANK NEED TO RAISE FUNDS? Metro Bank has faced persistent struggles in recent years to convince regulators that it can use its own models when working out how much capital it…