Governments responses to the coronavirus COVID-19 pandemic are challenging the underlying economic infrastructure on which individuals and businesses rely. In this new guide we have set out the vital steps businesses should be taking to manage the current situation and their financial position going forwards. Click here to read the full document.
Category: Middle East
The Wolfsberg Group, which is an association of 13 global banks, has published materials to supplement the implementation of the Correspondent Banking Due Diligence Questionnaire (CBDDQ). The CBDDQ was published on 22 February 2018 in order to update the original Wolfsberg 2004 Anti Money Laundering Questionnaire. The CBDDQ aims to set an enhanced and reasonable […]
On 18 June 2019, Facebook formally announced its plans to launch a global digital currency, called ‘Libra’. The Libra White Paper outlines Facebook’s ambitious vision to shape the future of money by establishing a new decentralised blockchain, a low-volatility cryptocurrency and a smart contract platform. On the same day, Facebook also open-sourced the code for the […]
Earlier this week Facebook launched a new currency “Libra” through its white paper, setting out a vision to become a global provider of low cost payment services based on a new decentralised blockchain “Libra Blockchain”. The new global digital currency will be backed by a basket of bank deposits and Government securities to provide price […]
Regulators have made it clear that markets need to move away from financial contracts that reference interbank offered rates (IBORs) as soon as possible and well in advance of the end of mandatory LIBOR submissions at the end of 2021. Regulated firms are already expected to have a plan for this transition, including in relation […]