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Irish Bank Guarantee Now The Law
The Irish government announced it would be passing a law to guarantee all deposits in the country’s banks upsetting the UK banking industry who are complaining of unfair competition. The law is still being debated by the Seanad, Ireland’s upper house, and ministers are considering to extend the scheme to foreign banks that have a large [...]
Continue reading...500 Jobs Cut From HSBC
26. September 2008
The global credit crisis keeps spreading like a financial plague as it forces HSBC to cut 1,100 jobs or around 4 per cent of its workforce with 500 positions in the UK alone. Most of the positions that will be lost are within their global banking and markets operation. Bradford & Bingley also reported job cuts [...]
Continue reading...Islamic Finance Becoming More Mainstream
16. September 2008
According to the Times Online the global Islamic finance market is growing at a rate of 15% per year and is expected to be valued at $1,000 billion by 2010. The UK alone has seen this finance sector grow to £500 million as a report reveals 400,000 Muslims hold Sharia-compliant products. Islamic financial products are designed to [...]
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3. October 2008
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