Tagged: imf

Governor of Saudi Arabian Monetary Authority Says Central Bank Digital Currencies Seem Promising and are Worth Exploring

Dr. Ahmed Abdulkarim Alkholifey, the Governor of Saudi Arabian Monetary Authority (SAMA), the nation’s reserve bank, says that central bank digital currencies or CBDCs seem to be promising and are worth further exploration. Dr. Ahmed’s comments came during a recent webinar held by the International… Read More

Qatar’s GDP Expected to Contract by 4.3% in 2020, but IMF Expects Recovery Next Year, Supported by Growing Fintech and Digital Economy

Qatar’s economy appears to be performing a lot better than other MENA region countries because it has launched many projects that have helped establish different types of businesses that generate significant revenue. Qatar has also managed to overcome the political tensions and has found new… Read More

Bruce Davis, Co-founder of UK-based Online Investment Platform Abundance, Supports IMF’s Recommendation to back Green Investment Projects

Bruce Davis, the co-founder and joint MD at Abundance (previously Abundance Generation), a UK-based online investment platform which aims to offer “ethical” and “socially beneficial” investments that contribute to a green economy, is reportedly supporting the IMF’s argument that the UK government must focus on a… Read More

Digital Payments Services are “Evolving” into Marketplace Lending Platforms: Report

The global COVID-19 outbreak has created many challenges as individuals and businesses have to get used to observing safe distancing measures and make changes to their lifestyle – which may include working from home. According to a recent blog post published by the International Monetary… Read More

China’s Fintech Sector Could be “Instrumental” in Helping SMEs with Acquiring Reliable Credit, IMF Official Says

An International Monetary Fund (IMF) official recently noted that China’s Fintech sector could be “instrumental” in assisting SMEs with acquiring reliable credit. The representative added that reliable loans and funding will play a key part in helping businesses get through the COVID-19 outbreak and resulting… Read More

UK Government Adds COVID-19 Program to Support Early Stage Ventures. Is it Enough?

In a widely anticipated move, HM Treasury announced a new package of bailout programs for early-stage ventures that did not qualify for programs initially set into place to support the COVID-19 battered economy. There have been profound concerns that younger, entrepreneurial firms that require ongoing… Read More

CBDC: Central Bank Digital Currencies Could Offer a Public Means of Payment Without Needing a Bank Account, IMF Official Says

Tao Zhang, deputy managing director at the International Monetary Fund (IMF), has argued that issuing central bank digital currencies (CBDCs) may lower costs and enhance the overall efficiency of the financial system. Zhang, whose comments came during a keynote presentation, held at the London School… Read More

Fintech Is “Rapidly” Becoming a Key Part of Malaysia’s Financial Sector, with “Considerable Promise” for Expansion: IMF

The International Monetary Fund (IMF), an international organization based in Washington, D.C., consisting of 189 different countries that aim to improve monetary cooperation worldwide, maintain financial stability, and facilitate global trade, acknowledged that Fintech has become a part of everyday life in Malaysia. The IMF… Read More

On the Record: IMF Chief Economist Says CBDCs Won’t Supplant the US Dollar & Synthetic Hegemonic Currencies are “Improbable”

There has been a good amount of discussion regarding Central Bank Digital Currencies (CBDCs) – digital iterations of the Euro, Dollar etc. Many central banks are experimenting with the concept. Another thought-provoking idea is the creation of a “synthetic hegemonic currency” as proposed by the… Read More

Tommaso Mancini-Griffoli from IMF Pitches Synthetic Central Bank Digital Currency

In a presentation entitled “The Future of Money: The Impact of Digitization, including “social coins” on Currency, Payments and Markets, Tommaso Mancini-Griffoli, Deputy Division Chief in the Monetary and Capital Markets Department from the IMF pitched the concept of a “synthetic CBDC” (Central Bank Digital… Read More

Bank of America Is Reportedly Piloting Ripple’s Distributed Ledger Technology

Charlotte, North Carolina-based Bank of America (BoA), the second-largest US bank with over $2.3 trillion in total assets, is reportedly testing out Ripple’s distributed ledger technology (DLT)-based financial products. The bank might be planning to do more with the San Francisco-based Fintech firm’s technology. Ripple’s… Read More

International Monetary Fund Calls Financial Oversight in Singapore Among the Best Globally

The International Monetary Fund (IMF) has completed its Financial Sector Assessment Program for Singapore and has reportedly “reaffirmed” Singapore’s financial sector oversight to be “among the best globally,” according to a release. The IMF said the economic fundamentals of Singapore were strong and its economic… Read More

IMF Report: Countries are Broadly Embracing the Opportunities of Fintech to Boost Economic Growth and Inclusion

In a paper entitled “Fintech: the Experience So Far,” the International Monetary Fund (IMF) stated that, while there are regional differences, “countries were broadly embracing the opportunities of Fintech to boost economic growth and inclusion.” The pursuit of Fintech innovation is being balanced with the… Read More

At IMF Spring Meetings, JP Morgan Rep Says JPM Coin Could Streamline KYC/AML

The IMF’s Christine Lagarde hosted a panel discussion on “Payments in the Digital Age” at the IMF’s Spring Meetings held this week in Washington, DC. A video of the panel is provided by CNBC international TV and can be viewed here. Panelists included the ECB’s… Read More

Fintech in 2019? Predictions for Crowdfunding, Open Banking, SMEs, Regulations & More….

‘Tis the season for decking halls, lighting candles, spending time with family and friends, reflecting on 2018 and thinking ahead to 2019 and new trends in the global Fintech market. Crowdfund Insider reached out to the Fintech community members to look into their crystal balls… Read More

Marshall Islands Opposition Members Seeking to Oust Pro-Crypto President

Members of the opposition in the Marshall Islands have called for a non-confidence vote to oust the nation’s first-and-only female president, Radio New Zealand reports. The vote to oust Hilda Heine, who has previously backed a contentious plan to create a sovereign national cryptocurrency for… Read More

IMF Mentions Crypto in World Economic Outlook, Fintech as Well

The International Monetary Fund (IMF) is meeting this week in beautiful Bali. The discussion includes routine topics such as economic forecasts for growth, challenges and opportunities. There is, of course, a trade skirmish that may turn into a trade war which may create bigger problems… Read More

UK Chancellor of the Exchequer at IMF: Britain is the Natural Home for Global Fintech, Including Crypto & DLT

The Chancellor of the Exchequer, Philip Hammond, is currently at the IMF Annual Meeting taking place in Bali. While at the meeting, the Chancellor is polishing the UK chops when it comes to innovations in Fintech. According to a note from HM Treasury, Hammond will position Britain… Read More

IMF Urges Marshall Islands Not to Issue National Cryptocurrency [u]

The Marshall Islands could end up putting its one remaining relationship with a US bank at risk if it moves forward with plans to issues a national cryptocurrency, the International Monetary Fund warns. The advice comes after the Executive Board of the International Monetary Fund (IMF)… Read More

IMF Expands Fintech Group to Foster Greater Collaboration Between National Authorities & International Organizations

The International Monetary Fund (IMF) has announced an expansion of its “High Level Advisory Group on Finance and Technology” to boost its Fintech efforts and expand its engagement with a broad range of public and private sector stakeholders. Under IMF MD Christine Lagarde, there is a recognition… Read More

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