Bulgaria on Monday scrambled to reassure savers its beleaguered banking system was "functioning normally" after Brussels extended a credit line to stop a run on two banks turning into a full-blown crisis.
Asia presents huge developmental potential for Islamic finance and is likely to be the main driver of Islamic banking growth in the near future given the untapped potential in India, Bangladesh and Indonesia, according to a report.
Billionaire George Soros opens up his mind about how to put right the banking sector, which has become a symbol of failure and recession. He told the BBC that being tough on banks at this juncture may not be such a good idea.
Relaxation in the norms relating to infrastructure lending and 70 per cent loan loss coverage ratio are likely to top the agenda when bankers meet RBI on January 14, ahead of the quarterly policy review.
Japan`s incoming government has picked a 72-year-old veteran politician and former policeman to take charge of financial supervision in the world`s second-largest economy, public broadcaster NHK said on Tuesday.