Kenya Central Bank Worried as Imperial Bank Share Holders Delay Proposal which might Revive the LenderSubmitted by Isha Sondhi on Sat, 11/14/2015 - 08:44
On Friday, the central bank of Kenya said it was worried that the Imperial Bank's shareholders were not taking quick actions to suggest proposals that will revitalize the medium sized lender. Last month, the privately owned bank was ordered by the Central Bank of Kenya
Money transaction systems are becoming easier day by day and according to sources familiar with the matter, Apple Inc. is discussing to develop a payment service with the U.S banks. The system will permit users to transfer money to each other's account through phones rather than depending on either cash or checks.
The U. S federal government is promoting myRA, a new savings plan which the U. S. Treasury Department has designed to assist citizens save money risk-free way for those who do not have a retirement plan.
The plan has been tested and is known as "myRA" or My Retirement Account.
On Friday, the World Bank said that Africa should move ahead with its plans of developing its transport and energy networks although a slowdown plagued its GDP growth. Better infrastructure is the main ingredient that attracts long term developments according to the head of the World Bank.
Akinwumi Adesina, the new president of African Development Bank said that Africa should make an effort to achieve widespread access to electricity in the coming ten years and also accelerate its process of transformation itself to a continent which exports finished goods and not just the raw materials.
New Jersey based, Hudson City Savings Bank which is a subsidiary of Hudson City Bancorp, will have to pay almost $33 million as settlement for supposed racial discrimination which they adopted in their mortgage lending practices.
The state owned Kiwibank announced $127 million profit after tax for the fiscal year till 30 June. The bank's profit increased twenty seven percent compared to $100million last year.
Kiwi Group Holdings profit's was boosted by added contributions from its Kiwi Wealth Kiwisaver business and the fledgling Kiwi Insurance business to $132million.
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