World’s biggest gold ETF launching new low-fee fund- source

By Peter Hobson LONDON, May 5 : The World Gold Council, owner of the world’s largest gold-backed exchange traded fund (ETF), is launching a new fund with a cut-price management fee to fend off rivals with lower charges, a source familiar with the matter told Reuters. The move is a sign that cost competition among […]

After downturn, Islamic finance eyes profits, fintech – survey

By Bernardo Vizcaino Undated, May 2 : Islamic banks and insurers are focusing on profitability and new financial products as the industry shifts away from years of containing the adverse impact of low oil prices, an industry body said on Wednesday. The findings from surveys by the Bahrain-based General Council for Islamic Banks and Financial […]

Global regulators get toolkit to combat banking misconduct

By Huw Jones LONDON, Apr 20 : Making senior employees directly accountable for their actions is one of the options in a new “toolkit” to combat the misconduct that has damaged public trust in financial services, a global regulatory body said on Friday. The Financial Stability Board (FSB), which coordinates financial regulation for the Group […]

Under financial squeeze, fire-ravaged Russian mall cut costs

By Polina Ivanova KEMEROVO, Russia, April 19 : The company behind a Russian shopping mall where a fire recently killed 64 people, most of them children, had sought to slash costs amid financial losses according to interviews with former employees, their relatives, and owners of retail space in the mall. Investigators also say the company […]

Islamic banks face uneven impact from correspondent banking decline -industry group

By Bernardo Vizcaino Undated, Apr 16 : An industry body for Islamic banks has warned of uneven impact from a decline in correspondent banking, reinforcing concerns that small lenders in developing economies will be most affected from “de-risking” by international lenders. The Bahrain-based General Council for Islamic Banks and Financial Institutions (CIBAFI) raised the issue […]