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CBE trains African central banks on big data and AI applications
Business News
CBE trains African central banks on big data and AI applications
The Central Bank of Egypt (CBE) is hosting a training course on the application of big data analysis and artificial intelligence (AI) to central banking, in collaboration with the COMESA Monetary Institute (CMI). The course, which runs from August 27 to August 31, 2023, is part of the presidential directives to support Egyptian-African cooperation and integration. Course objectives and participants The course aims to enhance the skills and knowledge of…
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Fed tightens supervision of regional banks after failures
Business News
Fed tightens supervision of regional banks after failures
The Federal Reserve is stepping up its oversight of regional banks in the wake of three bank collapses earlier this year, according to a report by Fox Business. The central bank has issued a number of private warnings to lenders with assets of $100 billion to $250 billion, urging them to improve their liquidity planning, capital adequacy, technology and compliance. Regional banks face liquidity and interest rate risks The Fed’s…
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Turkish Banks Report 41% Increase in Net Profit in First Seven Months of 2023
Business News
Turkish Banks Report 41% Increase in Net Profit in First Seven Months of 2023
Strong Performance Despite Economic Challenges The Turkish banking sector has shown a remarkable resilience in the face of the economic difficulties caused by the COVID-19 pandemic and the currency depreciation. According to the data from the Banking Regulation and Supervision Agency (BDDK), the combined net profit of Turkish banks increased by 41 percent in the January-July period from a year ago to 293.4 billion Turkish liras ($11.1 billion) . This…
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FM directs rural banks to weed out duplicate Jan Dhan accounts
Business News
FM directs rural banks to weed out duplicate Jan Dhan accounts
Finance Minister Nirmala Sitharaman has instructed the regional rural banks (RRBs) to take steps to remove the duplication of Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts and ensure that the benefits of the scheme reach the intended beneficiaries. She also asked the RRBs to facilitate storage facility for apple growers in Jammu and Kashmir and Himachal Pradesh, where the fruit production is high. PMJDY scheme aims to provide financial inclusion…
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Siasat.com: A Leading News Portal from Hyderabad, India
News
Siasat.com: A Leading News Portal from Hyderabad, India
Siasat.com is a news portal that covers the latest and breaking news from Hyderabad, Telangana, India and the world. The portal offers a wide range of news categories, such as politics, business, entertainment, sports, education, health, lifestyle, religion, culture and more. Siasat.com also features exclusive interviews, opinions, analysis and multimedia content on various topics of interest. Siasat.com: A Brief History Siasat.com is the online version of The Siasat Daily, a…
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Singapore banks caught in $740 million money laundering case
Business News
Singapore banks caught in $740 million money laundering case
Some of the biggest local and international banks in Singapore are facing scrutiny for their alleged involvement in one of the city-state’s largest money laundering cases involving more than S$1 billion ($740 million) of assets. The case has raised questions about the safeguards against illicit money flowing into one of the world’s most important financial hubs. How the money laundering scheme worked According to the charge sheets seen by Bloomberg…
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banks to improve their risk management and compliance
Business News
Fed warns regional banks to improve their risk management and compliance
The Federal Reserve has issued a series of private warnings to several regional banks with assets of $100 billion to $250 billion, urging them to take corrective actions on various issues related to their risk management, capital, liquidity, technology and compliance, according to a Bloomberg News report. Fed steps up supervision of mid-sized lenders The Fed has intensified its scrutiny of mid-sized lenders in the wake of the collapse of…
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Open Banking and AI: A New Frontier for Lending
Finance News
Open Banking and AI: A New Frontier for Lending
Open banking is a concept that allows customers to share their financial data and access a range of services from different providers through APIs. It aims to foster innovation, competition, and customer choice in the financial sector. AI, on the other hand, is a technology that enables machines to perform tasks that normally require human intelligence, such as data analysis, decision making, and risk assessment. Together, open banking and AI…
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O Dell Group LLC Acquires New Stake in United Community Banks
Business News
O Dell Group LLC Acquires New Stake in United Community Banks, Inc.
A new investor has entered the banking sector by purchasing a significant number of shares in United Community Banks, Inc. (UCBI), a regional bank holding company based in Georgia. O Dell Group LLC Buys 115,078 Shares of UCBI According to a recent filing with the Securities and Exchange Commission (SEC), O Dell Group LLC, a private investment firm, bought 115,078 shares of UCBI in the first quarter of 2023. The…
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News Technology
Louisville nonprofit aims to create generational wealth with new tech center
A vision for the future A local nonprofit organization, Louisville Central Community Center (LCCC), has announced its plans to build a new technology center in the west Louisville area. The center, which will be called the Grand Lyric Tech Center, will offer various programs and services to help residents develop skills and opportunities in the fields of science, technology, engineering, arts and mathematics (STEAM). The president of LCCC, Kevin Fields,…
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