The Bank of England keeps interest rates at 5.25%. Hear what Governor Andrew Bailey says about falling inflation and the future outlook.
Correspondent banking has played a central role in the global payments system for ages. Yet, the traditional correspondent model has been ailing for the past 20+ years.
Correspondent banking relationships (CBRs) are the linchpin of international trade and finance, enabling cross-border transactions and providing a gateway to foreign financial markets.
HSBC has unveiled a digital platform that enables both business and corporate clients to establish accounts for multiple commercial entities across various markets, all from a single location. Through a… read more →
For ages, correspondent banking has played a vital role in the global payments system. Through correspondent banking relationships, banks gain access to a diverse range of financial products across various jurisdictions enabling them to offer cross-border payment solutions and services to their customers.
India has permitted banks in 22 partner nations, including Russia and the UK, to establish “vostro” accounts within its borders, the government informed the parliament on Tuesday, aiming to bolster… read more →
Any business participating in international commerce normally needs to make payments in foreign currencies to suppliers/sellers overseas for goods and/or services sourced from other countries.
Last month, I found myself staying with a nomad family in a traditional yurt (‘ger’), 300km West of Ulaanbaatar, Mongolia, staring at the overwhelmingly star-filled night sky.
Correspondent banking is a cornerstone of international finance, offering a critical conduit for transnational transactions and financial services. But as with any large, intricate and partially opaque financial system that relies on mutual trust, it is also a prime target for illicit exploitation, particularly money laundering.
In this article, EBRD’s Ralph De Haas and Rudolf Putz talks about ways to improve regulatory compliance for trade finance and correspondent banking.