Sri Lanka is moving decisively towards modernising its insurance sector, with the government spearheading the development of a national insurance information system, according to Dr Ajith Ravindra de Mel, Chairman of the Insurance Regulatory Commission of Sri Lanka. Speaking at a media briefing in Colombo, Dr de Mel provided an update on initiatives launched over […]

Ahsan H. Mansur, the former governor of Bangladesh Bank, is widely regarded as the most controversial and criticised figure in the institution’s history. According to bank officials and employees, his tenure was marked by arbitrary decision-making and autocratic tendencies, leaving a lasting impression of discord. Within just two weeks of his departure, a sense of […]

European banking giants HSBC and Standard Chartered face the highest financial risk from recent Middle East conflicts, potentially putting significant pressure on their profitability, J.P. Morgan has warned. The broader European banking sector has already felt the impact. The STOXX 600 Banks Index reached a three-month low at the start of this week, down approximately […]

The State Bank of Pakistan (SBP) has announced a temporary allowance for the import of crude oil and petroleum products on a Cost, Insurance and Freight (CIF) basis. This measure, effective for a period of 60 days, is aimed at ensuring the timely supply of energy amid ongoing global oil market volatility. According to a […]

A recent report has highlighted significant challenges confronting former US President Donald Trump’s proposed government-backed initiative to provide insurance for vessels navigating the strategic Strait of Hormuz. The programme, designed to safeguard oil shipments from conflict-related disruptions, aimed to stabilise global energy supply and protect international markets from potential volatility. According to sources, the plan […]