The New York prosecutor subpoenaed American bank Goldman Sachs to investigate the institution’s role into the credit crisis. The court summons is in relation to the U.S. Senate Permanent Subcommittee on Investigation’s report that accused Goldman Sachs of misleading buyers of mortgage-linked investments as one of the reasons behind the collapse of the financial markets. [...]
Nobel laureate Muhammad Yunus, the founder and former chief of the microfinance bank Grameen Bank, laments that the Bangladesh prime minister was wrong to criticize him. View full post on Banking Stories
The European Central Bank threatened on Thursday to stop lending to banks that would use Greek government bonds as collateral. The ECB would carry out the threat if Greece could successfully change the terms of its debts. The regional central bank is against the restructuring of the Greek debt because of fears it would bring [...]
The Bangladesh government is poised to offer Nobel laureate Professor Muhammad Yunus a respectable position in the bank he founded after a series of global uproars. View full post on Banking Stories
Bangladesh’s apex court on Thursday apparently put an end to Nobel laureate Muhammad Yunus’ legal battle to regain the bank he founded. View full post on Banking Stories
Hong Kong and Shanghai Banking Corporation pulled out of retail banking on Monday from Russia. Instead of engaging in retail banking, HSBC said it will focus on making available global lending services to industrial and corporation clients. View full post on Banking Stories
Britain will soon sign a disclosure agreement with Switzerland that would force thousands of Britons who have secret accounts in Swiss banks to pay taxes on interest income, dividends and untaxed income. The estimated amount of the deposits is $187.50 billion (GBP 125 billion). View full post on Banking Stories
Lack of regulation and a surplus of donor funds in Bangladesh’s microcredit industry have led to NGOs pushing loans to over-indebted borrowers, says BRAC, the world’s largest development organization and heavily involved in the country’s microfinance industry. View full post on Banking Stories
Banking giant JP Morgan posted a profit of $5.6 billion for the first three months of the year, a 67 percent increase from $3.3 billion for the same period last year, the company has announced. View full post on Banking Stories
Banks nationwide lost a total of $35 million to robbers last year, the government said on Tuesday. View full post on Banking Stories
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