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Banks at the heart of Cuba’s existential battle for reform September 22, 2016

              “We don’t have banks in Cuba!” The taxi driver helming a splendid 1957 Pontiac Pathfinder clasico off the taxi rank at Havana’s Hotel Nacional snorts with scorn. Euromoney has asked him to drive us to a rare meeting at the Banco Central de … read more >>

Recent Files

Cuba’s unlikely banking pioneer December 12, 2016

Urbane and well-groomed, career banker Dave Seleski is an unlikely revolutionary. Tiny by US standards, with assets of around $3 billion, Seleski’s Stonegate Bank has found itself in the extraordinary position of being the only US bank to be authorized by both Washington and Havana to do business in Cuba. … read more >>

Ashraf Wathra ushers in a new era for Pakistan December 12, 2016

Ashraf Wathra is a different choice as head of the State Bank of Pakistan. An outsider brought in to the inner sanctum of monetary policy, he is keen to promote market-based reforms, boost the banking sector and break the reliance on the IMF. Can he profit from the new positivity … read more >>

Mulyani rides to Indonesia’s rescue (again) December 12, 2016

Indonesians well remember the moment when their popular finance minister Sri Mulyani Indrawati unexpectedly resigned her post in 2010, defeated by the country’s venal money politics, her reform work unfinished. It was a dark time, as Indonesians fretted that their most trusted public official had been crushed and, with her … read more >>

Shades of Kafka in Castro’s new Cuba October 3, 2016

Franz Kafka, who wrote about European bureaucratic labyrinths, would have found much inspiration in Cuba officialdom’s Soviet-inspired maze.   Euromoney had hoped to see some of the state-owned Cuban banks during our visit to Havana in August, but multiple requests failed to gain any response.   The Banco Central de … read more >>

Ukraine: The perils of PrivatBank May 4, 2016

Assailed by conflict and politics, Alexander Dubilet admits that the task of running Ukraine’s biggest bank is complicated. But he insists that PrivatBank can cope with the loss of large parts of its network and dismisses rumours about secret loans and the need for state support.  “How’s business?” Euromoney asks … read more >>

Ukraine: Yulia’s tale: serving clients amid hostage-taking and betrayal May 4, 2016

July 7, 2014 loomed as a normal business day for Yulia Vyalova, PrivatBank’s branch network boss in Ukraine’s eastern Luhansk region. Normal that is, inasmuch as circumstances allowed Vyalova and her charges to do their job, staffing the 155 PrivatBank branches around Luhansk after war had erupted three months earlier … read more >>

Kenya: central bank governor Njoroge: Calling it as he sees it April 14, 2016

Patrick Njoroge has spent much of his career outside Kenya, mostly in Washington at the IMF as a senior economist. Two decades in that role took him around the world, occasionally as its ambassador, more often in a team of firemen fixing damaged economies. As for central banks, he has … read more >>

Technology: Traditional banking is Finn-ished April 14, 2016

A conversation with Dr Tom Dahlström of Finland’s OP Group, the ubiquitous financial services firm, is like having one’s own TED talk about banking. Firstly there’s his ‘doctor’ thing. Not many banking executives can claim to be one – Dahlström’s doctorate is for economics, which he got in Helsinki after … read more >>

Kenya: Patrick Njoroge, corruption-fighter April 14, 2016

Patrick Njoroge, governor of the Central Bank of Kenya, is reflecting on the topic of weight. But it is not the balancing of fiscal levers or the appropriate spreads for Kenya’s $7.2 billion in foreign reserves that is concerning him. No, for this recent arrival – he took over the … read more >>