All articles by Verdict Staff
Verdict Staff
American Bankers Association urges FinCEN to withdraw customer due diligence proposal
American Bankers Association (ABA) and its BAFT subsidiary have urged the Financial Crimes Enforcement Network (FinCEN) to withdraw its proposed rule making customer due diligence requirements under the Bank Secrecy Act explicit and adding a requirement for banks to identify the beneficial owners of customers incorporated as a legal entity.
Bank of England outlines plans to split retail banking from commercial
Pressing ahead with a string of reforms to strengthen financial system, the Bank of England (BOE) has asked banking groups to separate their retail activities from commercial banking.
NBF launches Shariah-compliant retail banking products in UAE
National Bank of Fujairah (NBF) has launched NBF Islamic, a service proposition that seeks to provide clients with a suite of Shariah-compliant financial solutions.
National Bank of Kuwait sells stake in IBQ for $538m
National Bank of Kuwait (NBK) has agreed to sell its 30% stake in International Bank of Qatar (IBQ) to Qatari investors in a transaction worth $538m.
Skye Bank wins bid to buy Mainstreet Bank
Nigeria’s state-owned rescue bank Asset Management Corporation of Nigeria (AMCON) has named Skye Bank as the successful bidder to buy nationalised lender Mainstreet Bank.
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Gigantic databreach hit 76 million JPMorgan customers
American banking giant JPMorgan Chase has revealed that that a recent cyber attack compromised customer information for about 76 million households and 7 million small businesses.
Nedbank snaps up 20% stake in Ecobank
South Africa’s Nedbank Group has agreed to buy a 20% stake in pan-African lender Ecobank Transnational (ETI) for $493m.
OCBC rebrands Wing Hang Bank in Hong Kong & Macau
Singapore’s Oversea-Chinese Banking Corp (OCBC) has given Wing Hang Bank a new name and logo, which it acquired for $5bn in July this year.
Banco Sol plans to expand to Portugal and Brazil
Banco Sol, an Angola-based lender, is reportedly planning to foray into Portugal and Brazil market as part of its strategy to expand footprint globally.
Britons have longer relationship with their PIN than with their spouse-study
Brits are more likely to change their spouse than their PIN number, according to new study conducted by digital financial services provider Intelligent Environments.