Monday, August 20, 2018

Dubai Bank sinks under debt and violating regulator rules

The Central Bank of Kenya has placed Dubai Bank under receivership after the lender failed to repay money borrowed from other financial institutions to...

How much does China now have over the yuan?

China devalued its currency on Tuesday, a move that left it with its biggest one day fall in more than 20 years. It fell again...

3 Ways to Turbocharge Your Income

Investment income accounts for as much as three-quarters of their total income. The typical member of the seven-figure club earns a nice paycheck, but it’s...

​Iranian bank joins SWIFT breaking blockade

Iran's Day Bank has announced joining the SWIFT transaction system, which facilitates worldwide bank transfers. The private system cut off Iranian financial institutions in...

Dahabshiil helps Somalis re-build their communities

Shortly after the April 2 Garissa University College massacre, the authorities suspended the licences of all remittance firms, including my company, Dahabshiil. Dahabshiil is a...

Bank of China fraud: Italy seeks trial for 300 people

Italian prosecutors want to indict the Bank of China's Milan branch and almost 300 people over a money-laundering scheme.Prosecutors in Florence allege €4.5bn ($5.1bn,...

AfDB votes for president to guide bank through changing climate

Insiders said member states are divided on whether the AfDB should further concentrate its focus on attracting private financing to large-scale infrastructure projects or...

Nigeria’s Akinwumi Adesina Elected as African Development Bank President

Akinwumi Adesina, who served as Nigeria’s agriculture minister in the outgoing government of Jonathan Goodluck, has been elected as the new president of theAfrican...

eDahab adds Somaliland Shilling to its mobile wallet features

True to the management’s word,  Dahabshiil Group’s eDahab mobile money transfer  wing  added and put to the test additional features permitting the subscriber to...

An integrated Africa will require effective cross-border payment solutions

Over the last five years, Africa’s geographic regions have made integration a priority, and most have recorded successes already—East Africa being the most glaring...

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Torpedoing Africa, and then complaining about ‘migration’

European countries are still shaping the lives of millions of Africans, determining both their present and future. Out of the 67 coups in 26 African...

Zakia Hussein: Somalia’s First General and Deputy Police Commander

Somali President Abdullahi ‘Farmajo’ Mohamed, has appointed Zakia Hussein to the position of general and deputy chief of the Somali Police Force. Zakia becomes the first...

Chief Guterres Says UN Budget Is In Deficit, Warns of Consequences

Letter sent to member states by António Guterres reveals $139m deficit in core budget António Guterres, the UN secretary general, has warned that the organisation...