Bosnia Banking – FK Leotar http://fkleotar.com/ Tue, 14 Sep 2021 15:01:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://fkleotar.com/wp-content/uploads/2021/05/fk-leotar-icon-150x150.png Bosnia Banking – FK Leotar http://fkleotar.com/ 32 32 11th Global Islamic Finance Awards Celebrate Outstanding Leaders in Islamic Finance Market https://fkleotar.com/2021/09/14/11th-global-islamic-finance-awards-celebrate-outstanding-leaders-in-islamic-finance-market/ https://fkleotar.com/2021/09/14/11th-global-islamic-finance-awards-celebrate-outstanding-leaders-in-islamic-finance-market/#respond Tue, 14 Sep 2021 15:01:00 +0000 https://fkleotar.com/2021/09/14/11th-global-islamic-finance-awards-celebrate-outstanding-leaders-in-islamic-finance-market/

The global Islamic financial services industry had assets under management worth approximately US $ 2,941 billion at the end of 2020 (Global Islamic Finance Report 2021). An industry experiencing strong performance in 2019 is expected to grow even more, however, many expected developments in the Islamic finance industry have slowed due to the COVID-19 pandemic. Despite the bleak outlook, it has also presented unprecedented opportunities for Islamic finance to become an alternative financial system, with assets expected to grow to a size of between $ 3.789 trillion and $ 5.15 trillion by now. 2025.

Global Islamic Finance Awards (GIFA) was founded in 2011 by Edbiz International Advisors as part of its advocacy for Islamic banking and finance. Since then, it has been held annually with its first prize – Global Islamic Finance Leadership Award – given to heads of state or government (or equivalent) for their leadership and advocacy roles in promoting banking and Islamic finance in their respective jurisdictions or around the world. The winners of this prestigious award are known as the GIFA Laureates. This year’s Global Islamic Finance Leadership Award went to His Excellency Ma’ruf Amin, Vice President of the Republic of Indonesia. His Excellency Ma’ruf Amin is a true champion of Islamic finance, leading the country to become a global hotspot for the Islamic economy of which Islamic banking and finance is a part.

Other GIFA laureates include HE Tun Abdullah Badawi, former Prime Minister of Malaysia (2011), HRH Sultan Nazrin Shah of Perak, Malaysia (2012), HE Shaukat Aziz, former Prime Minister of Pakistan (2013), HE Nur Sultan Nazarbayev, first Prime Minister of Kazakhstan (2014), His Highness Muhammandu Sanusi II, Emir of Kano, Nigeria (2015), HE Joko Widodo, President of Indonesia (2016), HE Ismail Omar Guelleh, President of Djibouti (2017), HE Bakir Izetbegovic, former President of the Presidency of Bosnia and Herzegovina (2018), HE Cyril Ramaphosa, President of the Republic of South Africa (2019), and His Excellency Dr Arif Alvi, President of the Islamic Republic of Pakistan (2020) .

Professor Humayon Dar, President of the Global Islamic Finance Awards, highlighted in his speech the shared responsibility we have towards the development and advocacy of the Islamic finance industry to be a sustainable solution in the post-COVID world. “This year’s GIFA celebrates a record number of Islamic financial institutions and individuals. We have winners from USA, UK, South Africa, Middle East and Asia. On behalf of the Awards Committee, I congratulate this year’s laureates, hoping that they will continue to contribute to the success of their organizations and the global Islamic financial services industry. It is because of your hard work, dedication and commitment that the industry is now at the historic US $ 3 trillion mark.

The Top Award for an institution, the Global Islamic Finance Leadership Award (Institution) 2021, was won by none other than Komite Nasional Ekonomi Keuangan Syariah (KNEKS). The National Committee for Sharia Economics and Finance (KNEKS) for its efforts in developing the Sharia economic and financial ecosystem and for making Indonesia a global halal center.

Other notable winners include; RAM Ratings Services Berhad, Saturna Sdn Bhd, Bid Bond by Siraj Finance, IMMC by Al Waseelah PLC, ETHOS AFPMT, ZAWAF (Zakat, Sadaqah and Waqf Division) of the Universiti Teknologi MARA (UiTM), meem Digital Banking by Gulf International Bank,

GIFA has awarded the GIFA Excellence Awards to leading organizations in the Islamic finance sector: the 2021 GIFA (Islamic Social Responsibility) Award of Excellence has been awarded to CaizCoin, one of the many cryptocurrencies developed in Germany but with a unique working model.

The 2021 GIFA (Islamic Social Responsibility) Award of Excellence was awarded to Yayasan BaitulMaal Muamalat, an Indonesian zakat management institution.

The GIFA Excellence Award (Islamic Asset Management) 2021 was won by Albilad Capital in recognition of initiatives and innovations undertaken to provide financial products and services.

The 2021 GIFA Excellence Award (Takaful) went to Prudential BSN Takaful Berhad, the country’s leading takaful operator.

The 2021 GIFA Excellence Award (Islamic Financial Ratings) was won by Fitch Ratings, a leading provider of credit ratings, commentary and research to global financial markets.

GIFA Excellence Award (Islamic Finance Training & Education) 2021 has been awarded to the Brunei Institute of Leadership & Islamic Finance (BILIF).

GIFA Excellence Award (Roshan Digital Account Experience) 2021 was won by HBL Islamic Banking, which has positioned itself as one of the biggest and leading Islamic banking players in the country.

The 2021 GIFA (Premier Islamic Banking Services) Award of Excellence was won by Shariah Banking, Standard Bank for its commitment to Islamic principles and Sharia-compliant assets.

GIFA Excellence Award (Corporate / Business Credit Cards) 2021 is won by Qatar International Islamic Bank, a leading bank providing innovative and Sharia-compliant banking services in Qatar.

GIFA Championship award winners include; Tazkia Islamic University College for GIFA Championship Award (Education in Islamic Banking and Finance) 2021; Malaysian Financial Planning Council for the 2021 GIFA (Islamic Finance Qualifications) Championship Award; Bank Nizwa for the 2021 GIFA (Islamic Bank) Championship Prize; Takaful Oman for the 2021 GIFA (Takaful) Championship award; Arabesque Asset Management Ltd. for the 2021 GIFA (ESG and sustainability) championship prize; Aion Digital for the 2021 GIFA (Islamic Digital Solutions) Championship Prize; and S&P Global Ratings for the GIFA Championship Award (Islamic Financial Ratings) 2021.

GIFA Market Leadership Award was given to market leaders for their strategic role in the growth of the Islamic finance industry. Notable winners include; Cagamas, BNP Paribas Asset Management Malaysia Sdn. Bhd., Al Ahli REIT Fund 1, Faculty of Islamic Economics and Finance UNISSA, Moody’s Investors Service, SEDCO Capital and Bank Syariah Indonesia.

The Islamic Corporation for Investment and Export Credit Insurance (ICIEC) has again won the 2021 Global Islamic Export Credit Insurance and Political Risk Award. Emirates NBD Capital, RIZQ , MANUlife Shariah Global REIT Fund, IBF Net Group, Siraj Finance, Ajman University, International Islamic Trade Finance Corporation (ITFC), Islamic Development Bank Institute (IsDBI), Riyad Saudi Equity Sharia Fund, Oasis Crescent (UK) Limited, Dar Al Sharia , Indonesia Stock Exchange, Pakistan Stock Exchange Limited, TAIF Digital Institute, Al Farabi National Kazakh University, Eiger Trading Advisors Limited, Malaysian Rating Corporation Berhad (MARC), International Turnkey Systems Group (ITS), PT Capital Life Syariah, Meezan Bank, Trust Bank Limited, HabibMetro Sirat, FNB Islamic Banking, Jaiz Bank PLC, Ambank Islamic Berhad, Faysal Bank Limited, Gatehouse Bank, Agrobank, BankIslami Pakistan Limited, Bank Islam Brunei Darussalam, Central Shari ah Board for Islamic Banks of Bangladesh, Saudi Ce ntral Bank, Alinma Bank and Islami Bank Bangladesh Limited are the proud winners this year.

Dr Adnan Aziz (Professor of Practice and Director of the Islamic Finance Center for Academic and Research Excellence, Ajman University), Mr. Khalid Zubair Parekh (Founder and CEO of Fair), Mr. Muhammad Afaq Khan (Head of Islamic Bank, HBL), Eqhwan Mokhzanee (Managing Director of AmBank Islamic Berhad), Mr. Irfan Siddiqui (Founding Chairman and Chief Executive Officer of Meezan Bank) and Mr. Adam Ismail Ebrahim (Chief Executive Officer and Chief Investment Officer of Oasis Group Holdings) have received individual awards for their tireless advocacy, effort and contributions to innovate, evolve and develop products and services that serve the global public and support the Islamic financial services industry.

-Ends-

You can view the GIFA Awards Ceremony online by logging into; https://www.youtube.com/watch?v=ULpESVL5gug or the official GIFA website; https://gifaawards.com

About Edbiz International Advisors:

Edbiz Corporation is a global Islamic finance think tank headquartered in London. For more information, please visit: www.edbizconsulting.com . Edbiz Corporation provides multiple services that balance the dual purpose of developing thought leadership in this niche sector and building the capacity of Islamic finance for businesses and banks. Its clientele is diverse and includes financial institutions, governments, educational institutions, established businesses and entrepreneurs.

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Turkish Central Bank reserves rise to $ 105.8 billion in July https://fkleotar.com/2021/08/27/turkish-central-bank-reserves-rise-to-105-8-billion-in-july/ https://fkleotar.com/2021/08/27/turkish-central-bank-reserves-rise-to-105-8-billion-in-july/#respond Fri, 27 Aug 2021 08:00:24 +0000 https://fkleotar.com/2021/08/27/turkish-central-bank-reserves-rise-to-105-8-billion-in-july/

Turkey’s central bank’s total reserves stood at $ 105.8 billion as of July 31, the bank said on Friday.

Official reserve assets jumped 8.3 percent from $ 97.7 billion at the end of June, according to the bank’s report on international reserves and foreign currency liquidity.

In July, foreign exchange reserves – in convertible currencies – amounted to $ 62.6 billion, a monthly increase of 12.6%.

Another sub-item of official reserve holdings, gold reserves – including gold deposits and, where applicable, traded gold – rose 2.6% last month from the previous month for reach $ 41.6 billion.

At the end of July 2020, the bank’s total reserves stood at $ 90.3 billion, including $ 45.1 billion in foreign exchange and 43.6 billion in gold reserves.

The bank’s reserves will exceed $ 115 billion by the end of 2021, Turkish President Recep Tayyip Erdogan said at a press conference in Istanbul ahead of his visit to Bosnia and Herzegovina on Friday.

The central government and CBRT’s short-term predetermined net drains – foreign currency loans, securities and foreign currency deposits – fell 10.9% in July from the previous month, to $ 20.2 billion.

Of that amount, $ 14.5 billion is for principal repayments and $ 5.7 billion for interest repayments, he added.

The CBRT report also found that potential short-term net foreign currency drawdowns stood at $ 46.1 billion last month, up 2.3% from June.

According to the bank’s definition, possible net short-term withdrawals on foreign currencies consist of “collateral guarantees on debt at less than one year” and “other contingent liabilities” which are the required reserves of the banking sector in foreign currency and gold blocked accounts, and letters of credit on the CBRT’s balance sheet.

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The influx of more than 670 million BAM of foreign direct investment registered in Bosnia and Herzegovina https://fkleotar.com/2021/08/22/the-influx-of-more-than-670-million-bam-of-foreign-direct-investment-registered-in-bosnia-and-herzegovina/ https://fkleotar.com/2021/08/22/the-influx-of-more-than-670-million-bam-of-foreign-direct-investment-registered-in-bosnia-and-herzegovina/#respond Sun, 22 Aug 2021 09:00:00 +0000 https://fkleotar.com/2021/08/22/the-influx-of-more-than-670-million-bam-of-foreign-direct-investment-registered-in-bosnia-and-herzegovina/

The inflow of foreign direct investment in Bosnia and Herzegovina in 2020 was BAM 678.2 million, according to data from the Central Bank of Bosnia and Herzegovina (CBBH), which released the results of the statistical survey. on foreign direct investment for 2020.

In terms of geographic distribution, the largest influx of investments in 2020 came from Croatia (149.4 million BAM), followed by Serbia (135.3 million BAM).

Observed by activity, most investments were made in the field of financial services (banking sector) for an amount of 157 million BAM, then in the field of wholesale trade, or 93.9 million BAM, and in the field of electricity production, 88.6 million BAM.

Investment inflows can be described as relatively good given the deep global recession that has affected the capacity of foreign investors, even some increase from 2019 when investments were BAM 81 million lower. However, it should be noted that the majority of the investments were reinvested profits of existing companies with foreign investments, and they amounted to BAM 586.3 million, while the investments in the form of property shares were much weaker.

At the end of 2020, the balance of foreign direct investments stood at BAM 15.08 billion. This amount is the result of investments from previous years, as well as operations of companies with foreign capital. The largest amount of direct investment still concerns Austria (2.78 billion BAM), Croatia (2.42 billion BAM) and Serbia (close to BAM 2.19 billion).

Taking into account activities, the highest foreign direct investment balance is in financial services (BAM 3.67 billion), followed by telecommunications (BAM 1.74 billion) and wholesale trade (BAM 1.41 billion). BAM).

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FDI in Bosnia amounts to 678 million marka (347 million euros) in 2020 – c-bank https://fkleotar.com/2021/08/18/fdi-in-bosnia-amounts-to-678-million-marka-347-million-euros-in-2020-c-bank/ https://fkleotar.com/2021/08/18/fdi-in-bosnia-amounts-to-678-million-marka-347-million-euros-in-2020-c-bank/#respond Wed, 18 Aug 2021 11:46:00 +0000 https://fkleotar.com/2021/08/18/fdi-in-bosnia-amounts-to-678-million-marka-347-million-euros-in-2020-c-bank/

SARAJEVO (Bosnia and Herzegovina), Aug. 18 (SeeNews) – Foreign direct investment (FDI) in Bosnia totaled 678.2 million marka (406 million dollars / 347 million euros) last year, an increase 81 million mark compared to revised data for 2019, the country’s central bank said.

The influx of FDI can be described as relatively good given the deep global recession that has hit foreign investors, the central bank said in a statement on Tuesday.

The largest portion of FDI in 2020, Mk 586.3 million, represented the reinvested profits of existing foreign-invested enterprises, while investment in equities was significantly lower, he added.

Croatia and Serbia provided the largest inflows of FDI to Bosnia last year, respectively 149.4 million marks and 135.3 million marks.

In terms of sectors, the Bosnian banking sector absorbed most of the FDI inflows, 157 million marka, followed by wholesale trade with 93.9 million marka and power generation with 88.6 million marka. by marka.

According to cumulative figures, overall FDI inflows into Bosnia at the end of 2020 amounted to 15.08 billion marks. Austria was the biggest foreign investor with 2.78 billion marks, followed by Croatia with 2.42 billion marks and Serbia with almost 2.19 billion marks. On the sectoral level, the majority of FDI went to financial services, 3.67 billion marka, telecommunications (1.74 billion marka) and wholesale trade (1.41 billion marka).

(1 euro = 1.956 marka)

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Central Bank of Bosnia and Herzegovina celebrates 24th anniversary https://fkleotar.com/2021/08/16/central-bank-of-bosnia-and-herzegovina-celebrates-24th-anniversary/ https://fkleotar.com/2021/08/16/central-bank-of-bosnia-and-herzegovina-celebrates-24th-anniversary/#respond Mon, 16 Aug 2021 06:45:00 +0000 https://fkleotar.com/2021/08/16/central-bank-of-bosnia-and-herzegovina-celebrates-24th-anniversary/

Today, 24 years ago, the Central Bank of Bosnia and Herzegovina (CBBH) began operations. According to the Constitution of Bosnia and Herzegovina, this institution is solely responsible for the issuance of currency and monetary policy in the whole of BiH. According to the CBBH Law, the objective of the Central Bank is to achieve and maintain the stability of the local currency, the convertible mark, by issuing the local currency under the arrangement known as the currency board., is stated in the press release.

Since its establishment to date, the CBBH has successfully overcome many challenges, from the introduction of the single currency BH, the reform of the payment system, the reform of the banking sector, the replacement of the DEM by the EUR and its relationship with the KM through a fixed exchange rate, the financial crisis in 2008/2009, implementation of projects with the European Central Bank (ECB) and the central banks of the Eurosystem, until the introduction of European standards central bank in the operations of this institution. A particular challenge was met during the COVID-19 pandemic.

Yet the commitment to work and development, the pursuit of excellence in work always brings good results and praise is received every day. The most recent arrived from Brussels through the European Commission (EC) and the European Central Bank (ECB).

“The achievement of full convertibility of the local currency has proceeded without any turbulence, which is particularly important in a complex institutional environment in BiH, it is therefore recommended to continue this practice and to ensure the full independence of the CBBH. », He was stressed. by the ECB in its annual assessment of monetary policy and financial stability.

In addition, the ECB stresses that the adoption of the BiH deposit insurance law is important to strengthen the regulatory banking system.

The European Commission also welcomed the activities of the CBBH in the field of statistics and the progress made in government finance statistics, as since October 2020 an important step has been taken by providing data to Eurostat. Improvements were also made in the timeliness and consistency of quarterly data submitted in the area of ​​balance of payments and international investment position statistics.

The successful work is confirmed by international recognitions, including that awarded to the CBBH by the magazine Capital Finance International for the best central bank governance in Central and Eastern Europe in 2017. This magazine recognized the modalities by which the CBBH contributed to the continued stability of the country during the years of its operations.

The stability of the KM is a fundamental task of the CBBH without which other economic values ​​could be called into question. The CBBH also manages official foreign exchange reserves obtained through the issuance of local currency, assists and maintains appropriate payment and settlement systems, coordinates the activities of bank branches of BH entities which are responsible for issuing licenses to ‘operating and supervising banks.

While some results relate to the contribution to EU integrations and specific reports to the European Commission (EC) and the Directorate for European Integration, others signify completed upgrading and upgrading processes. in service of the single register of accounts of commercial entities in BiH, the upgrading and commissioning of the clearing of modernized postal checks, the upgrading of the central register of credits of commercial entities and natural persons in BiH, and harmonization of statistics with EU requirements. A new methodology and tools for stress testing have been developed within the FINRA project and the IT infrastructure has been improved. External debt service was regular, CBBH foreign exchange reserves were successfully invested with improvements to this process at the operational level.

The existence of CBBH payment systems for 20 years confirms that our country’s systems can operate to the highest standards in the world and that there is no excuse for deviating from excellence. The story of the convertible brand is a credible argument that there is something good that connects us. We all love the convertible brand as well because we can trust it. The Central Bank of Bosnia and Herzegovina and the convertible mark have never failed us.

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Bosnian stock indices end the week mixed amid rising revenue https://fkleotar.com/2021/08/13/bosnian-stock-indices-end-the-week-mixed-amid-rising-revenue/ https://fkleotar.com/2021/08/13/bosnian-stock-indices-end-the-week-mixed-amid-rising-revenue/#respond Fri, 13 Aug 2021 07:00:00 +0000 https://fkleotar.com/2021/08/13/bosnian-stock-indices-end-the-week-mixed-amid-rising-revenue/

SARAJEVO (Bosnia and Herzegovina), Aug. 13 (SeeNews) – The stock indexes of the Sarajevo Bosnian Stock Exchange (SASE) closed largely lower on Friday, relative to their values ​​a week earlier, as the index of benchmark of the other stock exchange of the country, in Banja Luka, pink, showed the data of the stock exchange.

SASE’s 10-stock SASX-10 benchmark closed Friday’s session at 895.15 points, down 0.54% from its August 6 close.

The larger SASX-30 index, which is made up of the 30 most liquid SASE stocks, closed down 0.57% at 1,511.17 points.

The SASE index tracking investment fund, BIFX, remained stable at 953.30 points, from its closing value on August 6.

The SASX-BBI Islamic stock index, launched by SASE and Bosna Bank International (BBI), fell 0.59% to 9,831.62 points. The index tracks 25 companies.

SASE’s revenue totaled 361,628 marka ($ 217,700 / 184,900 euros) this week, down from 1.1 million marka last week. A total of 70,970 shares changed hands in 47 trades.

SASE is based in the Federation, one of the two autonomous entities that make up Bosnia and Herzegovina. The Banja Luka Stock Exchange (ESBL) is based in the other entity, the Serbian Republic.

ESBL’s benchmark BIRS closed at 563.79 points on Friday, up 0.50% from its closing value recorded a week earlier.

The exchange’s total turnover edged down to 5.8 million mark this week from 6.1 million mark last week, when 100 transactions were completed.

(1 euro = 1.95583 marka)

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HR Schmidt underlines the importance of the Central Bank of Bosnia and Herzegovina for stability and development https://fkleotar.com/2021/08/09/hr-schmidt-underlines-the-importance-of-the-central-bank-of-bosnia-and-herzegovina-for-stability-and-development/ https://fkleotar.com/2021/08/09/hr-schmidt-underlines-the-importance-of-the-central-bank-of-bosnia-and-herzegovina-for-stability-and-development/#respond Mon, 09 Aug 2021 14:15:00 +0000 https://fkleotar.com/2021/08/09/hr-schmidt-underlines-the-importance-of-the-central-bank-of-bosnia-and-herzegovina-for-stability-and-development/

High Representative Christian Schmidt met today in Sarajevo with the Governor of the Central Bank of Bosnia and Herzegovina (CBBH), Senad Softić.

High Representative Schmidt expressed the need for a strong and independent CBBH, a Dayton institution that has safeguarded the stability of the monetary and financial sector of Bosnia and Herzegovina since its establishment in 1997, thereby directly contributing to stability and development overall country.

The interlocutors shared the point of view on the need to preserve and further develop these achievements, and on the importance of uninterrupted work of the governance structures of the CBBH to ensure the unhindered capacity of the CBBH to fulfill of its constitutional and legal obligations.

The High Representative also expressed his respect for the work of the CBBH which has earned the trust of the public across the country.

The High Representative Christian Schmidt and the Governor of the CBBH, Senad Softić, also welcome the offer of the Deutsche Bundesbank – the central bank of the Federal Republic of Germany – to strengthen its dialogue with the CBBH in order to further improve the ability of the CBBH to align with EU standards and best practice the central banking system in Bosnia and Herzegovina.

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A cordial agreement with France is announced – once Macron leaves https://fkleotar.com/2021/08/04/a-cordial-agreement-with-france-is-announced-once-macron-leaves/ https://fkleotar.com/2021/08/04/a-cordial-agreement-with-france-is-announced-once-macron-leaves/#respond Wed, 04 Aug 2021 17:24:00 +0000 https://fkleotar.com/2021/08/04/a-cordial-agreement-with-france-is-announced-once-macron-leaves/

British Chinook helicopters transport French troops in jihadist wars in the Sahel. The two countries defend their respective interests in the Pacific. They are jointly working on nuclear warheads.

The Franco-British Rapid Reaction Force (CJEF) reached full capacity late last year, capable of deploying 10,000 men on land, sea and air, anywhere in combat operations. France does not have such a close agreement with any other country. The Franco-German brigade is above all a creation of paper.

This military deal was started at Lancaster House in 2010 by David Cameron and Nicholas Sarkozy, which in turn dates back to how the two armies worked together in Bosnia. “It was not the Americans who ended the siege of Sarajevo: it was the British and the French on the ground,” said Charles Grant of the Center for European Reform.

Mr Macron’s pietist speeches on a “European army”, and an EU defense union on par with monetary union, are strangely detached from reality. Such a capacity does not exist. The Germans are known to be “believers but not participants”. Most eurozone countries cut defense budgets to the bone in the mid-2010s in order to comply with the austerity rules imposed by the EU.

Mr. Macron should not be confused with France either. He made his way to power by ideologically camouflaging himself – President Burglar (burglar president) is the title of Corinne Lhaïk’s biography. His euro-imperialist plan – his finance minister openly proposes a “European empire” to counter the United States – is not shared by the French nation.

The Eurosceptic-flavored parties won half of the votes in the first round of the 2017 presidential election. sovereignist feelings are as deep in France as in Great Britain.

Germanophobia is still escalating and has spread in an extraordinary article by Marine Le Pen, presidential candidate and leader of the National Rally (National Front), proposing a strategic break with Germany and an alliance with Great Britain and America. It is a breathtaking fall from a political figure who has long lambasted NATO and clung to Vladimir Putin’s worldview.

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Chinese regulator targets auto chip distributors with predatory pricing investigation https://fkleotar.com/2021/08/03/chinese-regulator-targets-auto-chip-distributors-with-predatory-pricing-investigation/ https://fkleotar.com/2021/08/03/chinese-regulator-targets-auto-chip-distributors-with-predatory-pricing-investigation/#respond Tue, 03 Aug 2021 04:15:19 +0000 https://fkleotar.com/2021/08/03/chinese-regulator-targets-auto-chip-distributors-with-predatory-pricing-investigation/

SHANGHAI (Reuters) – China’s regulatory agency is launching an investigation into auto industry chip distributors, it said on Tuesday, citing suspicions of price hikes.

The State Administration for Market Regulation (SAMR) action is the latest in a regulatory crackdown over the past year that has targeted a range of businesses and industries as the Chinese government crack down on the industry.

“In response to significant issues such as speculation and high prices in the automotive chip market, the State Market Surveillance Administration recently filed an investigation into automotive chip distributors,” the agency said. .

The companies were suspected of driving up prices, based on price monitoring and reporting of clues, she added in her statement, and pledged to investigate and punish the acts illegal acts such as hoarding, price hikes and collusion.

China’s CSI All Shares Semiconductor & Semiconductor Equipment index fell about 6% after the news.

A global chip shortage that began last December has disrupted supply chains and the hardware industry around the world. Although initially concentrated in the automotive sector, it has since spread to a wide range of gadgets.

Concerns about the uncertainty of supply have sometimes led chip buyers and distributors to purchase more chips than they need, creating a vicious cycle that drives prices even higher.

The shortage has particularly affected the Chinese auto industry. Car sales in June fell 12.6% from the previous month, the China Association of Automobile Manufacturers said, with officials pointing to supply constraints as the root cause.

In June, the CEO of U.S. chipmaker Intel said he expected the shortage to bottom out by the end of the year, with the market only returning to normal by 2023.

(Reporting by Josh Horwitz; Editing by Tom Hogue and Clarence Fernandez)

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The Central Bank of BiH acted as a banking and fiscal agent https://fkleotar.com/2021/08/02/the-central-bank-of-bih-acted-as-a-banking-and-fiscal-agent/ https://fkleotar.com/2021/08/02/the-central-bank-of-bih-acted-as-a-banking-and-fiscal-agent/#respond Mon, 02 Aug 2021 07:30:00 +0000 https://fkleotar.com/2021/08/02/the-central-bank-of-bih-acted-as-a-banking-and-fiscal-agent/

For 20 years, the Central Bank of Bosnia and Herzegovina (CBBH) has been successfully performing banking and fiscal agent activities and servicing our country’s external debt. The successful execution of agent functions involves a high level of responsibility in the execution of the orders of the Ministry of Finance and Treasury of Bosnia and Herzegovina, as well as the continuous development and improvement of the systems of cooperation and communication with the ministries concerned.

The Law on the Central Bank of Bosnia and Herzegovina defines that the CBBH operates as a banker and fiscal agent of Bosnia and Herzegovina. On the basis of the legal mandate, the CBBH carries out transactions ordered by the Ministry of Finance and Treasury of Bosnia and Herzegovina related to the service of the external debt of Bosnia and Herzegovina and acts as fiscal agent for the accession of Bosnia and Herzegovina to international financial institutions.

All operations, tasks, competences and mutual relations of the CBBH and the Ministry of Finance and Treasury of Bosnia and Herzegovina, in accordance with legal provisions, are defined by the external debt service contract and the agent agreement. state banking and tax. of Bosnia and Herzegovina, which were first concluded on 6 July 2001, while the last version was concluded in 2013.

In accordance with the provisions of the existing agreements, the Central Bank of Bosnia and Herzegovina, during twenty years of work as a banker and fiscal agent, successfully fulfilled all legal obligations and timely provided the necessary amounts in foreign currency to pay debts due, and timely and accurately make payments on the basis of orders and instructions from the Ministry of Finance and Treasury of BiH, duly reporting to the relevant ministry on all activities carried out.

Representative, exact, precise and opportune are the postulates on which our activity on behalf of the State is based. Constant efforts to achieve excellence are the only appropriate response to the trust placed in us, is specified in the press release.

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