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Category: Banking

  • MIL-OSI Africa: Building Trust through Effective Service Delivery in Africa

    Source: APO


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    The World Bank’s annual Country Policy and Institutional Assessment (CPIA) report for Sub-Saharan Africa, released today, reveals that despite a stable average CPIA score for the region, there is an urgent need for governments in Africa to improve the delivery of essential services to promote inclusive, sustainable growth.

    The CPIA Africa report evaluates the quality of policy and institutional reforms in IDA-eligible countries in Sub-Saharan Africa for the calendar year 2024. According to the report, the average CPIA score for the region remained similar to 2023 at 3.1 points (out of 6). While some areas saw strong reforms, poor performance in governance offset these gains, and improvements were concentrated in already well-performing countries.

    The CPIA report underscores that meeting the needs of African citizens will require mobilizing the government to provide services amidst limited external financing. The report serves as a vital guide for policymakers and international investors, identifying specific reform actions to support effective public service delivery and foster a more resilient and prosperous future for Sub-Saharan Africa.

    Against this backdrop, the report notes a trend in public discontent in 2024 – a year that was marked by youth protests and a notable decline in political support for incumbents across the continent. This is mirrored in survey results in the region that have shown growing dissatisfaction with the quality of public services, which continue to lag other regions, particularly in infrastructure, human capital, security, and administrative capabilities.

    “Confidence in a government’s ability to efficiently transform public resources into essential services is fundamental to fostering a shared purpose with citizens and improving trust,” said Andrew Dabalen, World Bank Chief Economist for Africa. “Populations across Africa are clearly asking for more from their leaders to enable them to realize their aspirations. Our CPIA Africa report underscores the urgent need for transparent management of public resources and effective delivery of quality services to address growing dissatisfaction and enable citizens to reach their full potential.”

    The report details significant shortfalls across various public service sectors. Infrastructure-related services, including transport, remain underdeveloped, hindering economic activity and quality of life. High poverty levels are exacerbated by a lack of access to public infrastructure, particularly in sanitation. Human capital development is hampered by poor educational quality and inadequate health services, limiting citizens’ well-being and earning prospects as they enter the workforce. Furthermore, the ability of governments to provide basic security has been undermined, with conflict-related casualties nearly tripling between 2014 and 2024. Administrative services, crucial for a thriving business environment, also lag, with Sub-Saharan Africa performing poorly in areas like business location and financial services.

    Despite these challenges, the report notes some positive developments. Many countries have shown improved fiscal discipline, tackling high wage bills and fuel subsidies, and making progress in debt consolidation. Efforts to implement trade facilitation agreements, leverage digital technologies, and strengthen financial sector regulation are also underway. The report also highlights progress in empowering adolescent girls through legal and policy reforms and strengthening of social protection systems.

    “While some countries have made commendable strides in fiscal prudence and digital transformation, issues of weak governance, limited transparency, and insufficient implementation capacity continue to undermine efforts to deliver essential services. Addressing these fundamental challenges is not just about economic growth; it’s about showing people that governments can work for them to help create a better path for the future,” added Nicholas Woolley, the CPIA report’s lead author.

    Distributed by APO Group on behalf of The World Bank Group.

    MIL OSI Africa –

  • MIL-OSI Banking: Caroline Abel: Monetary and financial sector issues in Seychelles and how ATI training can help build human capital in these areas

    Source: Bank for International Settlements

    Madam Chair, Hon. Minister of Economy and Finance of Madagascar, Rindra Hasimbelo Rabarinirinarison,

    Director of AFS/ATI Mr Sukhwinder Singh,

    All Colleagues attending the meeting,

    Good afternoon.

    Thank you for the opportunity to briefly share our experience in terms of monetary and financial sector developments, and capacity building received in these areas.

    Major reforms in these two areas began late 2008, when Seychelles embarked on an IMF-supported macroeconomic reform programme. Aside from addressing the prevailing macroeconomic imbalances then, there was also a need to strengthen the regulatory framework and modernise the financial system. In addition, the Bank had to put in place the required market-based instruments to support the introduction of its new monetary policy framework. So, to better understand the extent of the task that laid ahead, we received technical assistance from the IMF in 2007, to assess the Bank’s capacity building needs in the field of foreign exchange, bank supervision and monetary policy, aside from others.

    With regard to monetary policy, reforms were crucial in view of the change in the foreign exchange regime. Whilst we started off with a reserve money targeting framework, over the years, the Central Bank of Seychelles has gradually moved towards providing more guidance to the domestic market. In 2019, the Bank adopted an interest-rate based framework, whereby the focus is on guiding short-term interest rate through the announcement of a Monetary Policy Rate by the Bank. We received extensive technical assistance throughout – from the design of the policy tools to the finer details of communication – and this was complemented by short-term courses that staff attended.

    In terms of capacity building, the IMF, ATI and AFRITAC South have been very supportive. Our staff have benefitted from various training opportunities, both in-person and through online learning platforms. These have been in key areas, such as various aspects of monetary policy analysis and implementation, the Forecasting and Policy Analysis System (FPAS), nowcasting, liquidity forecasting and management, to name a few. To note that, at the Bank, the knowledge acquired is applied in daily operations and underpins many outputs, including the collection of statistics on the monetary, real, and external sectors, which align with IMF manuals and guidelines. With regard to the financial sector, support was received to align the Bank’s supervisory framework with best international practices. These focused on areas such as financial sector policies, bank supervision, AML/CFT, financial stability, and lately, climate change issues, amongst others. The Bank has been pursuing steps to strengthen its supervisory framework, so that it is more risk-sensitive and forward-looking, through its Risk-Based Supervision (RBS) framework. The Bank is also actively pursuing the climate change agenda, given the implications such a phenomenon could have on our economy. This is an area where we have reached out to various partners in an effort to build internal capacity, as we are conscious of the limited expertise that exists out there as well.

    As we operate in an increasingly interconnected world, we also need to move in tune with innovations in the industry. The digitalisation of the financial sector brings countless opportunities and rewards, yet as we are all aware, very high risks. Another area that the Central Bank has been increasingly focusing on is cybersecurity, as this could have far-reaching repercussions. Just last week, the AFS completed a 5-day workshop for the Central Bank staff on strengthening cybersecurity practices, with particular emphasis on their application to both onsite and offsite banking supervision, as well as oversight of financial market infrastructures. The sessions provided valuable insights into identifying and assessing cyber risks, integrating cybersecurity into supervisory frameworks, and enhancing institutional resilience. Practical case studies and supervisory tools were also shared to support the effective implementation of cyber risk oversight across regulated entities and systemically important infrastructures.

    Being a small economy, Seychelles faces certain challenges in terms of human resources. In general, the financial sector finds it difficult to meet its human resource needs, as often times, qualified labour in specialised fields is scarce, and everyone is chasing the same few candidates available. In this context, the training provided by institutions like ATI and AFRITAC South goes a long way in helping to bridge the gap for our existing staff.

    As both global and domestic economies evolve, building capacity remains essential. Current discussions revolve around critical topics such as financing climate change adaptation and mitigation, tackling climate-related risks, FinTech innovations, the increasing role of artificial intelligence and machine learning, and cybersecurity. The IMF and its partners offer a wealth of resources – including training, seminars, conferences and technical assistance – to help member countries enhance their staff’s technical capabilities, ensuring they are equipped to navigate these challenges and seize emerging opportunities.

    To conclude, I would like to underscore the role and importance of organisations like ATI and AFRITAC South in supporting the development of national institutions, enabling the implementation of best practices across various jurisdictions. Moreover, shared experiences among participants and drawing on the knowledge of the lecturers help in building capacity at different levels. As such, I urge members to continue supporting the capacity development programmes of ATI and AFRITAC South, as collectively, we are all benefitting greatly from them.

    Thank you. 

    MIL OSI Global Banks –

  • MIL-OSI Banking: Eddie Yue: Launch of the Anti-Scam Consumer Protection Charter 3.0

    Source: Bank for International Settlements

    Good afternoon everyone. It is my great pleasure to welcome you all to the launch of the Anti-Scam Consumer Protection Charter 3.0.  

    Digitalisation has proven to be positive and constructive in many ways, such as the convenience brought by digital payments and online shopping. Unfortunately, increased digital activities have also made fraud and scams easier to set up and reach members of the public on an unprecedented scale. According to the Police, more than 44,000 cases of deception were recorded in 2024, representing a fourfold increase over the past five years.

    While the Hong Kong Monetary Authority and the banking sector have been at the forefront in fighting digital fraud and scams, this fight cannot be won by any single party or sector alone. It requires cross-sectoral collaboration, bringing together the public and private sectors, as well as the community at large. That is why we launched the first two Anti-Scam Consumer Protection Charters in 2023 and 2024. More than 300 financial institutions and merchants participated in these two earlier Charters, committing not to send out messages with embedded links requesting key personal information, thereby raising public awareness against phishing scams.

    However, digital fraud and scams have evolved far beyond phishing links. The threats of fraud and scams via online instant messaging or social media platforms, phone calls, and SMSs are becoming increasingly sophisticated.  Many of us, including myself, are receiving numerous suspicious messages and phone calls on a frequent basis. Some of these messages or calls may be advertising fake investment or job opportunities, while some pretend to be law enforcement agencies, family members, or friends. Scammers are even using technology such as deepfake to fabricate voices and images of government officials and reputable businessmen to try to make these fake online contents look more convincing.  

    To combat these evolving threats, it is crucial to collaborate with technology and telecommunications companies to tackle the problem at the platform level. Internationally, there is a growing recognition of the need to take down fraudulent contents and check the authenticity of advertisers more efficiently on these platforms. Here in Hong Kong, the Hong Kong Monetary Authority, together with our fellow regulators and great partners in our previous Charter 2.0, the Securities and Futures Commission, the Insurance Authority and the Mandatory Provident Fund Schemes Authority, have also been proactively reaching out to the technology and telecommunications companies to explore anti-fraud collaborations.

    Today, we are taking a significant step forward by jointly launching the Anti-Scam Consumer Protection Charter 3.0 together with the major technology and telecommunications companies that operate in Hong Kong to combat fraud and scams. We are glad to see many representatives from these companies here today, demonstrating their commitment to this initiative. We are also thankful to the support of the Consumer Council, the Hong Kong Association of Banks, the Hong Kong Police Force and the Office of the Communications Authority to this important initiative. 

    The Anti-Scam Consumer Protection Charter 3.0 consists of six principles specifically designed to proactively prevent and detect fraud and scams on online platforms and telecommunication networks. These principles focus on four main areas:

    • The first area is on reporting.  Under the Charter 3.0, participating firms will provide users with reporting functions and provide financial regulators with a direct and efficient channel for reporting suspected fraud and scams for follow-up in a reasonable manner.
    • The second area is on checking the identity of advertisers and ongoing monitoring of advertisements and contents. Firms participating in the Charter 3.0 will adopt a risk-based approach to facilitate verification of advertisers and put in place internal policies and tools to monitor advertisements and contents that promote financial products or services on their platforms, with a view to creating a safe online environment for users.
    • The third area is on taking down fraudulent advertisements and contents. Participating firms commit to enforcing their own terms of service by detecting and removing financial scam advertisements or contents that violate their platform policies.
    • Finally, educating the public to be aware and capable of recognising suspicious activities is always essential in stopping fraud and scams. We will work closely with participating firms to launch various anti-deception promotional campaigns through a wide range of platforms and channels to raise public awareness. 
    • At the panel discussions later this afternoon, representatives from the technology and telecommunications sectors will elaborate on how they apply the Charter principles in their daily work.

    Charter 3.0 represents an important milestone in the collaboration among the financial, technology, and telecommunications sectors in fighting fraud and scams. It lays the foundation of cooperation from which we will further build upon. We thank the participating firms for your support and commitment to the Charter 3.0 and we will continue to work closely with each other to provide a safe online environment and protect the public from fraud and scams. 

    Thank you very much.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Philip R Lane: The monetary agenda at the European Central Bank

    Source: Bank for International Settlements

    My goal today in these remarks is to outline the current monetary agenda at the ECB. I will start with the monetary policy stance before turning to our updated monetary policy strategy. I will then briefly discuss the euro area bond market before concluding with a monetary perspective on the digital euro project.

    The monetary policy stance

    In a recent speech, I assessed that the challenge of returning inflation to the target after the 2021-2022 inflation surges can be considered to be largely complete. The orientation now for the monetary policy stance is to make sure that the current shocks and prospective new shocks hitting the economy do not lead to medium-term deviations of inflation from our two per cent target.

    In terms of significant data developments in recent months, there has been a marked drop in energy prices and a substantial appreciation of the euro. These forces played an important role in the June 2025 Eurosystem staff macroeconomic projections. In addition, the fiscal outlook has materially changed for the coming years, with the overall fiscal deficit looking set to remain above three per cent over the projection horizon.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Piero Cipollone: Shifting payment landscape – what a digital euro will bring

    Source: Bank for International Settlements

    It is a pleasure to speak to you today.

    The ongoing shift in the way we pay is affecting the fundamental fabric of our economies. Whether we are consumers browsing digital marketplaces, entrepreneurs pursuing digital innovation, or decision-makers facing the digital transition, we are all involved in reshaping payments.

    Payments are more than a means of settling transactions, they are the lifeblood of a modern economy. And in a digital world, our economies will only be as competitive, inclusive, autonomous and resilient as our payments are.

    Slovenia has put the digital transformation at the heart of its economic strategy, aiming to place the country among the top five most digitalised economies in Europe by 2030. An innovative and striving digital payments ecosystem can play a key role in this journey.

    As a central bank, our responsibility is to accompany and enable this transition. We must ensure that the shift to digital payments enhances accessibility and efficiency, without creating fragmentation or new dependencies.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Joachim Nagel: Target achieved, but challenges still remain – monetary policy since the 2021 strategy review

    Source: Bank for International Settlements

    Check against delivery 

    1 Introduction

    Ladies and gentlemen,

    It’s a great pleasure for me to be here in Tübingen and to be giving the 10th Bundesbank IAW Lecture. Many thanks to the Institute for Applied Economic Research and my colleagues from Stuttgart for organising this event.

    Let me start with a quote.

    I acknowledge that our strategy is complex. However, we have to recognise that we live in a rather complex economic world (-). It would therefore be impossible for the Eurosystem to conduct a successful policy by mechanistically following a simple rule (-).

    The person who said this would have celebrated his 90th birthday today. It was Wim Duisenberg, the first President of the European Central Bank (ECB). Unfortunately, the Dutchman passed away back in 2005, not long after the end of his presidency. 

    He played a key role in the successful establishment of the ECB’s reputation as a credible and stability-oriented central bank. This success was due not least to the ECB’s monetary policy strategy. 

    MIL OSI Global Banks –

  • MIL-OSI Economics: RBI to conduct 7-day Variable Rate Reverse Repo (VRRR) auction under LAF on July 11, 2025

    Source: Reserve Bank of India

    On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on Friday, July 11, 2025, as under:

    Sl. No. Notified Amount
    (₹ crore)    		 Tenor (day) Window Timing Date of Reversal
    1 2,50,000 7 10:00 AM to 10:30 AM July 18, 2025
    (Friday)

    2. Further, on a review of evolving liquidity conditions, it has been decided not to conduct the 14-day main operation on Friday, July 11, 2025, for the ensuing fortnight.

    3. The operational guidelines for the auction as given in the Reserve Bank’s Press Release 2019-2020/1947 dated February 13, 2020 will remain the same.

    Ajit Prasad          
    Deputy General Manager
    (Communications)     

    Press Release: 2025-2026/691

    MIL OSI Economics –

  • MIL-OSI Economics: RBI to conduct 7-day Variable Rate Reverse Repo (VRRR) auction under LAF on July 11, 2025

    Source: Reserve Bank of India

    On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on Friday, July 11, 2025, as under:

    Sl. No. Notified Amount
    (₹ crore)    		 Tenor (day) Window Timing Date of Reversal
    1 2,50,000 7 10:00 AM to 10:30 AM July 18, 2025
    (Friday)

    2. Further, on a review of evolving liquidity conditions, it has been decided not to conduct the 14-day main operation on Friday, July 11, 2025, for the ensuing fortnight.

    3. The operational guidelines for the auction as given in the Reserve Bank’s Press Release 2019-2020/1947 dated February 13, 2020 will remain the same.

    Ajit Prasad          
    Deputy General Manager
    (Communications)     

    Press Release: 2025-2026/691

    MIL OSI Economics –

  • MIL-OSI Economics: Identity fraud: BaFin warns consumers about the website allianz-invest.com

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The unknown operators are using the email address info (at) allianz-invest.com to contact consumers, claiming that their offer is from Allianz SE. However, these claims are not correct. This is a case of identity fraud. Allianz SE is not associated with the website allianz-invest.com or the services offered on the website.

    BaFin is issuing this warning on the basis of section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).

    Please be aware:

    BaFin warns consumers about fraudulent term deposit offers.

    You can view BaFin’s current warnings about companies operating without the required authorisation and find out how to protect yourself from fraudsters on the financial market in the “Recognising financial fraud” section of our website.

    MIL OSI Economics –

  • MIL-OSI United Kingdom: Russia’s shameful record-breaking attacks on Ukrainian civilians and use of chemical weapons on the front line in Ukraine are a disgrace: UK statement to the OSCE

    Source: United Kingdom – Government Statements

    Speech

    Russia’s shameful record-breaking attacks on Ukrainian civilians and use of chemical weapons on the front line in Ukraine are a disgrace: UK statement to the OSCE

    Ambassador Holland condemns Russia’s latest aerial bombardment of Ukrainian cities, which have killed civilians and damaged civilian infrastructure, and highlights the UK’s recent sanctions package in response to Russia’s use of chemical weapons in Ukraine.

    Thank you, Mr Chair. Last week in this Council we said that Russia had launched its biggest aerial attacks of the war so far. One day later, it was already out of date.  Last Friday, on 4 July, Russia broke its record again, launching overnight 539 drones and 11 missiles at Ukraine. Apartments, businesses, a school, a medical facility and other civilian infrastructure were damaged. A thick smoke cloud hung over central Kyiv, prompting health warnings. And, overnight on Tuesday, 8 July, Russia exceeded that again, launching 728 drones and 13 missiles at Lutsk and other Ukrainian cities. This was the largest such attack in the war to date. Russia shows no sign of letting up these aerial assaults. The barrage and destruction continue.

    So far in 2025, Russia has launched over 20,000 drones at Ukraine. That’s around 3,500 per month. This is more than 3.5x the average in 2024. Russia has launched the nine largest daily air attacks of the war in the past six weeks.

    Mr Chair, the UN Office of the High Commissioner for Human Rights recently published its periodic report on the human rights situation in Ukraine. It stated: “Our findings strongly suggest a failure to distinguish between civilian and military targets, and to take all feasible precautions to verify the military nature of those targets – or worse, an intentional decision not to.”

    These aerial attacks are not the actions of a government that is serious about peace.  President Putin has demonstrated that amply in recent days by repeating his maximalist objectives for the war. Following his call with the Kremlin on 3 July, President Trump told reporters that he was ‘very disappointed with the conversation’ because Putin was ‘not looking to stop’. 

    Mr Chair, the statement published last week by the Dutch and German intelligence services indicating Russian use of chemical weapons on the front line is deeply concerning. The OPCW has now published three reports confirming the presence of CS gas in samples collected by Ukraine from the battlefield. We will not ignore such disregard of the Chemical Weapons Convention. That is why the UK announced a second package of sanctions this week against two senior Russian military officials and a Russian research institute for their involvement in Russia’s chemical weapons violations.

    Mr Chair, we must also redouble our efforts to support Ukraine to get through this, and to rebuild after the war is over. The Ukraine Recovery Conference being held in Rome this week is a pivotal moment for the international community to demonstrate its commitment. In total, the UK has committed £5.3 billion in non-military support to Ukraine. The World Bank has estimated that Ukraine’s recovery and reconstruction needs will cost USD $524bn over the next decade. Early recovery and reconstruction are vital to get through the war and secure a just and lasting peace. It is essential for all countries to step up their support, ensuring a unified and effective response to Ukraine’s recovery needs. Thank you.

    Updates to this page

    Published 10 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI Economics: Basel Committee shares report on interconnections between banks and non-bank financial intermediaries

    Source: Bank for International Settlements

    • The report reflects the findings of an analysis conducted as part of the Committee’s forward-looking work to identify and analyse risks and vulnerabilities to the banking system.
    • The report identifies the services banks and non-bank financial intermediaries (NBFIs) provide to each other and the trends shaping the relationship between them.
    • The Committee will continue to monitor and investigate the interconnections between banks and NBFIs with a particular focus on synthetic risk transfers.

    The Basel Committee on Banking Supervision has today published a horizon-scanning report on the interconnections between banks and non-bank financial intermediaries (NBFIs). The NBFI sector has grown rapidly in recent years and includes a broad range of entities including investment funds, insurance companies, pension funds and other types of financial intermediaries.

    Banks and NBFIs are linked by a wide range of activities and services and the sectors are mutually dependent. Banks provide leverage, clearing, market-making and underwriting services to NBFIs, trade derivatives with NBFIs and, in some cases, own NBFIs. These activities expose banks to a wide variety of risks. NBFIs are also exposed to banks through short-term cash placements, investment in securities issued by banks and trading activities. The nature of their linkages is shaped by market conditions and by regulatory reforms over the last several years.

    To explore the risks associated with banks’ interconnections with NBFIs, the report builds on several case studies to discuss stylised scenarios that illustrate possible impacts of NBFI failure on banks and financial stability. The report also discusses the importance of granular, timely and high-frequency data in understanding and monitoring linkages between banks and NBFIs.

    The Committee will continue to monitor and investigate the interconnections between banks and NBFIs with a particular focus on synthetic risk transfers (SRTs). The investigation will seek to better assess the benefits and risks posed by SRTs.

    MIL OSI Economics –

  • MIL-OSI Economics: RBI imposes monetary penalty on Dr. Babasaheb Ambedkar Urban Co-operative Bank Limited, Nagpur, Maharashtra

    Source: Reserve Bank of India

    The Reserve Bank of India (RBl) has, by an order dated July 08, 2025, imposed a monetary penalty of ₹1.50 lakh (Rupees One Lakh Fifty Thousand only) on Dr. Babasaheb Ambedkar Urban Co-operative Bank Limited, Nagpur, Maharashtra (the bank) for non-compliance with certain directions issued by RBI on ‘Loans and advances to directors, relatives and firms/ concerns in which they are interested-UCBs’ and specific directions issued by RBI under Supervisory Action Framework (SAF). This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

    The statutory inspection of the bank was conducted by the RBI with reference to its financial position as on March 31, 2024. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions. After considering the bank’s reply to the notice, oral submissions made during the personal hearing and additional submissions made by it, RBI found, inter alia, that the following charges against the bank were sustained, warranting imposition of monetary penalty:

    The bank had:

    1. sanctioned a director related loan; and

    2. not reduced single borrower exposure limit, for fresh loans and advances, by 50% of the applicable regulatory limit in non-adherence to the directions under SAF.

    This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the bank.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/689

    MIL OSI Economics –

  • MIL-OSI Economics: RBI imposes monetary penalty on Mahesh Urban Cooperative Bank Limited, Parli Vaijnath, Maharashtra

    Source: Reserve Bank of India

    The Reserve Bank of India (RBl) has, by an order dated July 07, 2025, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Mahesh Urban Cooperative Bank Limited, Parli Vaijnath, Maharashtra (the bank), for non-compliance with certain directions issued by RBI on ‘Exposure Norms and Statutory / Other Restrictions – UCBs’ and specific directions issued by RBI under Supervisory Action Framework (SAF). This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

    The statutory inspection of the bank was conducted by the RBI with reference to its financial position as on March 31, 2024. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions. After considering the bank’s reply to the notice and oral submissions made during the personal hearing, RBI found, inter alia, that the following charges against the bank were sustained, warranting imposition of monetary penalty:

    The bank had:

    1. not reduced single borrower exposure limit, for fresh loans and advances, by 50% of the applicable regulatory limit in non-adherence to the directions under SAF; and

    2. breached single counterparty exposure limit for Non-SLR investments.

    This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the bank.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/690

    MIL OSI Economics –

  • MIL-OSI: Bad Credit? No Problem: GadCapital Launches No Credit Check $500–$1,000 Same-Day Loans for Rent, Bills, & More

    Source: GlobeNewswire (MIL-OSI)

    Aventura, Florida, July 10, 2025 (GLOBE NEWSWIRE) — Loans for bad with credit no credit check have become essential financial solutions for individuals facing urgent expenses without traditional credit approval barriers. GadCapital addresses this critical need by offering same-day funding between $500 and $1,000, eliminating the stress of credit score requirements that often prevent access to emergency funds. Loans for no credit check provide immediate relief for rent payments, utility bills, and unexpected expenses that cannot wait for lengthy approval processes.

    Key Points: GadCapital’s Loans for Bad Credit No Credit Check Solutions

    • GadCapital offers loans for bad credit no credit check ranging from $500 to $1,000 with same-day funding for urgent financial needs like rent and bills.
    • The company provides installment loans for bad credit no credit check with flexible repayment terms that accommodate borrowers’ financial situations.
    • Applicants can access easy loans no credit check through an online application process that requires minimal documentation.
    • GadCapital’s loans no credit check are approved based on income verification rather than traditional credit score requirements.
    • The platform specializes in loans no credit checks for emergency expenses, offering quick approval and funding within hours of application submission.

    Quick no credit check loans from GadCapital deliver fast financial assistance when traditional lenders reject applications based on credit history. Best no credit check loans focus on current income and ability to repay rather than past financial mistakes, making loans with no credit accessible to borrowers who need immediate cash flow solutions. No credit check loans ensure that financial emergencies receive prompt attention without the delays and rejections associated with conventional lending requirements.

    GadCapital Loans for Bad Credit No Credit Check: Same-Day Financial Solutions

    GadCapital loans for bad credit no credit check represent a breakthrough in accessible lending for Americans facing financial challenges.

    The company’s new same-day financial solutions serve the 38% of U.S. consumers classified as non-prime or credit invisible, including 15% with sub-600 credit scores and 23% who are “credit invisible” according to recent market data.

    Bad credit no credit check approval processes eliminate traditional barriers that prevent millions from accessing emergency funds.

    GadCapital’s platform focuses on income verification rather than credit history, making loans available within hours of application approval.

    Types of Loans with No Credit Checks Available Through GadCapital

    Emergency Loans for No Credit History with Guaranteed Approval

    Emergency loans for no credit history provide instant access to funds when unexpected expenses arise, with guaranteed approval.

    GadCapital’s emergency lending solutions target the most common financial needs identified in borrower surveys:

    • Food expenses (54% of borrowers)
    • Housing and rent payments (49% of borrowers)
    • Utility bills (41% of borrowers)
    • Personal necessities (38% of borrowers)

    No credit history requirements mean applicants receive decisions based solely on current income and basic eligibility factors.

    Personal Loans for No Credit and Guaranteed Approval: Flexible Funding for Various Needs

    Personal loans for no credit offer versatile financing options for borrowers without established credit profiles.

    GadCapital’s personal lending products accommodate diverse financial situations while maintaining smooth guaranteed approval processes.

    Loan amounts range from $500 to $1,000, matching the typical range for no credit personal loans in the current market.

    Borrowers use these funds for medical expenses, childcare costs, and other essential needs beyond emergency situations.

    Loans with No Credit Requirements: Income-Based Guaranteed Approval Process

    Loans with no credit requirements rely on employment verification and income documentation instead of credit scores.

    GadCapital’s income-based approval process evaluates:

    1. Current employment status
    2. Monthly income verification
    3. Bank account information
    4. Residency confirmation

    No credit requirements eliminate the barrier that traditional lenders create for credit-invisible consumers seeking financial assistance.

    Loans for People with No Credit: Accessible Financial Solutions

    Loans for people with no credit address the needs of Americans who lack traditional credit histories.

    GadCapital’s accessible financial solutions serve borrowers who may be new to credit or have avoided traditional banking relationships.

    Short Term Loans No Credit Check: Quick Repayment Options

    Short term loans no credit check feature repayment periods designed for borrowers who need immediate funds with manageable payback schedules.

    GadCapital’s quick repayment options:

    • Weekly payment plans
    • Bi-weekly schedules
    • Monthly repayment terms

    No credit check short-term lending maintains approval rates above 60% for subprime and no-score borrowers, similar to trends in related lending sectors.

    Urgent Loans for Bad Credit No Credit Check: Crisis Funding with Guaranteed Approval

    Urgent loans for bad credit no credit check provide immediate financial relief during crisis situations.

    GadCapital’s crisis management funding delivers same-day guaranteed approval and funding for borrowers facing:

    • Unexpected medical bills
    • Emergency home repairs
    • Vehicle breakdown costs
    • Job loss situations

    Bad credit no credit check policies ensure that past financial difficulties don’t prevent access to emergency funding when needed most.

    No Credit Needed Loans: GadCapital’s Qualification Process

    No credit needed loans eliminate complex qualification requirements that traditional lenders impose. Borrowers complete applications in minutes rather than hours or days.

    GadCapital’s simplified qualification process requires only basic documentation and income verification. Credit needed barriers disappear when lenders focus on current financial capacity rather than historical credit performance.

    Small Loans with No Credit Check: Modest Amounts for Essential Expenses

    Small loans with no credit check provide modest funding amounts perfect for covering essential expenses without creating overwhelming debt burdens.

    GadCapital’s guaranteed no credit check small loan products target the $500-$1,000 range that borrowers most commonly request.

    GadCapital Application Process for No Credit Check Small Loans

    Quick Loans with No Credit Check: Easy Online Application

    Quick loans with no credit check feature GadCapital’s online application that takes less than 10 minutes to complete, and includes a few steps:

    1. Basic personal information entry
    2. Income and employment details
    3. Bank account verification
    4. Digital signature completion

    No credit check applications eliminate waiting periods associated with credit report reviews and scoring analysis, even for 1-hour payday loans no credit check.

    Easy Approval Loans for Bad Credit: Simple Documentation Steps

    Easy approval loans for bad credit require minimal documentation compared to traditional lending products. Bad credit histories don’t disqualify applicants when documentation demonstrates current financial stability and repayment capacity.

    GadCapital’s simple documentation requirements:

    • Recent pay stubs or income statements
    • Valid government-issued identification
    • Active bank account information
    • Proof of residence

    Requirements for Personal Loans for No Credit History

    Income Based Loans No Credit Check: Employment Verification Standards

    Income based loans no credit check rely on employment verification as the primary qualification factor.

    GadCapital’s employment verification standards require:

    • Minimum monthly income of $1,000
    • Employment history of at least 90 days
    • Direct deposit capability
    • Stable income source documentation

    No credit check income verification processes use bank statements and pay stubs rather than credit bureau reports to help get guaranteed approval.

    Small Loans No Credit Check: Basic Eligibility Criteria

    Small loans no credit check maintain straightforward eligibility requirements that most working adults can meet. Basic eligibility criteria include:

    • Age 18 or older
    • U.S. citizenship or permanent residency
    • Active checking account
    • Valid contact information

    No credit check eligibility focuses on current circumstances rather than past financial challenges or credit mistakes.

    Funding Speed for Quick Loans No Credit Check with GadCapital

    Same-Day Processing for No Credit Check Installment Loans with Guaranteed Approval

    Same-day processing for no credit check installment loans delivers funds within hours of approval, guaranteed.

    GadCapital’s same-day service processes applications and transfers funds on the same business day for qualified borrowers.

    No credit check installment loans eliminate the multi-day waiting periods that traditional lenders require for credit verification and underwriting reviews.

    Online Loans for Bad Credit No Credit Check: Digital Efficiency

    Online loans for bad credit no credit check leverage digital technology to maximize processing efficiency.

    GadCapital’s digital efficiency includes:

    • Automated income verification
    • Instant bank account validation
    • Electronic document processing
    • Real-time approval notifications

    Bad credit no credit check online systems operate 24/7, allowing borrowers to apply and receive decisions outside traditional banking hours.

    Payment Flexibility Options for First Time Personal Loans No Credit History

    Repayment Terms for No Credit Score Loans

    Repayment terms for no credit score loans offer flexible scheduling options that accommodate various income patterns.

    GadCapital provides multiple repayment structures for borrowers without established credit scores.

    No credit score loans feature terms ranging from 2 weeks to 6 months, allowing borrowers to select schedules that align with their pay cycles and budget constraints.

    Customizable Payment Schedules

    Customizable payment schedules enable borrowers to adjust repayment timing based on individual financial situations.

    GadCapital’s main scheduling options:

    • Weekly payments for frequent income earners
    • Bi-weekly payments matching standard pay periods
    • Monthly payments for salaried employees
    • Custom dates aligned with other financial obligations

    Payment flexibility reduces the risk of default and helps borrowers maintain positive relationships with lenders.

    Final Thoughts on GadCapital’s No Credit Check Lending Solutions

    GadCapital’s no credit check lending solutions fill a critical gap in the financial services market by providing accessible funding to millions of Americans who face barriers with traditional lending, and the company’s focus on income-based approval processes, same-day funding, and flexible repayment options creates opportunities for financial stability among borrowers who might otherwise resort to more expensive alternatives or remain unable to address urgent financial needs.

    Disclaimer: GadCapital matches you with lending partners. Approval isn’t automatic – it depends on each lender’s criteria and your state’s rules. Our credit check won’t ding your score. Your loan details depend on which lender picks you and your financial situation. Money usually hits your account fast, but every bank’s different.

    Contact Data

    GadCapital Press Office
    Phone: (800) 961-5909
    Email: info@gadcapital.com
    Website: https://gadcapital.com

    The MIL Network –

  • MIL-OSI: Bad Credit? No Problem: GadCapital Launches No Credit Check $500–$1,000 Same-Day Loans for Rent, Bills, & More

    Source: GlobeNewswire (MIL-OSI)

    Aventura, Florida, July 10, 2025 (GLOBE NEWSWIRE) — Loans for bad with credit no credit check have become essential financial solutions for individuals facing urgent expenses without traditional credit approval barriers. GadCapital addresses this critical need by offering same-day funding between $500 and $1,000, eliminating the stress of credit score requirements that often prevent access to emergency funds. Loans for no credit check provide immediate relief for rent payments, utility bills, and unexpected expenses that cannot wait for lengthy approval processes.

    Key Points: GadCapital’s Loans for Bad Credit No Credit Check Solutions

    • GadCapital offers loans for bad credit no credit check ranging from $500 to $1,000 with same-day funding for urgent financial needs like rent and bills.
    • The company provides installment loans for bad credit no credit check with flexible repayment terms that accommodate borrowers’ financial situations.
    • Applicants can access easy loans no credit check through an online application process that requires minimal documentation.
    • GadCapital’s loans no credit check are approved based on income verification rather than traditional credit score requirements.
    • The platform specializes in loans no credit checks for emergency expenses, offering quick approval and funding within hours of application submission.

    Quick no credit check loans from GadCapital deliver fast financial assistance when traditional lenders reject applications based on credit history. Best no credit check loans focus on current income and ability to repay rather than past financial mistakes, making loans with no credit accessible to borrowers who need immediate cash flow solutions. No credit check loans ensure that financial emergencies receive prompt attention without the delays and rejections associated with conventional lending requirements.

    GadCapital Loans for Bad Credit No Credit Check: Same-Day Financial Solutions

    GadCapital loans for bad credit no credit check represent a breakthrough in accessible lending for Americans facing financial challenges.

    The company’s new same-day financial solutions serve the 38% of U.S. consumers classified as non-prime or credit invisible, including 15% with sub-600 credit scores and 23% who are “credit invisible” according to recent market data.

    Bad credit no credit check approval processes eliminate traditional barriers that prevent millions from accessing emergency funds.

    GadCapital’s platform focuses on income verification rather than credit history, making loans available within hours of application approval.

    Types of Loans with No Credit Checks Available Through GadCapital

    Emergency Loans for No Credit History with Guaranteed Approval

    Emergency loans for no credit history provide instant access to funds when unexpected expenses arise, with guaranteed approval.

    GadCapital’s emergency lending solutions target the most common financial needs identified in borrower surveys:

    • Food expenses (54% of borrowers)
    • Housing and rent payments (49% of borrowers)
    • Utility bills (41% of borrowers)
    • Personal necessities (38% of borrowers)

    No credit history requirements mean applicants receive decisions based solely on current income and basic eligibility factors.

    Personal Loans for No Credit and Guaranteed Approval: Flexible Funding for Various Needs

    Personal loans for no credit offer versatile financing options for borrowers without established credit profiles.

    GadCapital’s personal lending products accommodate diverse financial situations while maintaining smooth guaranteed approval processes.

    Loan amounts range from $500 to $1,000, matching the typical range for no credit personal loans in the current market.

    Borrowers use these funds for medical expenses, childcare costs, and other essential needs beyond emergency situations.

    Loans with No Credit Requirements: Income-Based Guaranteed Approval Process

    Loans with no credit requirements rely on employment verification and income documentation instead of credit scores.

    GadCapital’s income-based approval process evaluates:

    1. Current employment status
    2. Monthly income verification
    3. Bank account information
    4. Residency confirmation

    No credit requirements eliminate the barrier that traditional lenders create for credit-invisible consumers seeking financial assistance.

    Loans for People with No Credit: Accessible Financial Solutions

    Loans for people with no credit address the needs of Americans who lack traditional credit histories.

    GadCapital’s accessible financial solutions serve borrowers who may be new to credit or have avoided traditional banking relationships.

    Short Term Loans No Credit Check: Quick Repayment Options

    Short term loans no credit check feature repayment periods designed for borrowers who need immediate funds with manageable payback schedules.

    GadCapital’s quick repayment options:

    • Weekly payment plans
    • Bi-weekly schedules
    • Monthly repayment terms

    No credit check short-term lending maintains approval rates above 60% for subprime and no-score borrowers, similar to trends in related lending sectors.

    Urgent Loans for Bad Credit No Credit Check: Crisis Funding with Guaranteed Approval

    Urgent loans for bad credit no credit check provide immediate financial relief during crisis situations.

    GadCapital’s crisis management funding delivers same-day guaranteed approval and funding for borrowers facing:

    • Unexpected medical bills
    • Emergency home repairs
    • Vehicle breakdown costs
    • Job loss situations

    Bad credit no credit check policies ensure that past financial difficulties don’t prevent access to emergency funding when needed most.

    No Credit Needed Loans: GadCapital’s Qualification Process

    No credit needed loans eliminate complex qualification requirements that traditional lenders impose. Borrowers complete applications in minutes rather than hours or days.

    GadCapital’s simplified qualification process requires only basic documentation and income verification. Credit needed barriers disappear when lenders focus on current financial capacity rather than historical credit performance.

    Small Loans with No Credit Check: Modest Amounts for Essential Expenses

    Small loans with no credit check provide modest funding amounts perfect for covering essential expenses without creating overwhelming debt burdens.

    GadCapital’s guaranteed no credit check small loan products target the $500-$1,000 range that borrowers most commonly request.

    GadCapital Application Process for No Credit Check Small Loans

    Quick Loans with No Credit Check: Easy Online Application

    Quick loans with no credit check feature GadCapital’s online application that takes less than 10 minutes to complete, and includes a few steps:

    1. Basic personal information entry
    2. Income and employment details
    3. Bank account verification
    4. Digital signature completion

    No credit check applications eliminate waiting periods associated with credit report reviews and scoring analysis, even for 1-hour payday loans no credit check.

    Easy Approval Loans for Bad Credit: Simple Documentation Steps

    Easy approval loans for bad credit require minimal documentation compared to traditional lending products. Bad credit histories don’t disqualify applicants when documentation demonstrates current financial stability and repayment capacity.

    GadCapital’s simple documentation requirements:

    • Recent pay stubs or income statements
    • Valid government-issued identification
    • Active bank account information
    • Proof of residence

    Requirements for Personal Loans for No Credit History

    Income Based Loans No Credit Check: Employment Verification Standards

    Income based loans no credit check rely on employment verification as the primary qualification factor.

    GadCapital’s employment verification standards require:

    • Minimum monthly income of $1,000
    • Employment history of at least 90 days
    • Direct deposit capability
    • Stable income source documentation

    No credit check income verification processes use bank statements and pay stubs rather than credit bureau reports to help get guaranteed approval.

    Small Loans No Credit Check: Basic Eligibility Criteria

    Small loans no credit check maintain straightforward eligibility requirements that most working adults can meet. Basic eligibility criteria include:

    • Age 18 or older
    • U.S. citizenship or permanent residency
    • Active checking account
    • Valid contact information

    No credit check eligibility focuses on current circumstances rather than past financial challenges or credit mistakes.

    Funding Speed for Quick Loans No Credit Check with GadCapital

    Same-Day Processing for No Credit Check Installment Loans with Guaranteed Approval

    Same-day processing for no credit check installment loans delivers funds within hours of approval, guaranteed.

    GadCapital’s same-day service processes applications and transfers funds on the same business day for qualified borrowers.

    No credit check installment loans eliminate the multi-day waiting periods that traditional lenders require for credit verification and underwriting reviews.

    Online Loans for Bad Credit No Credit Check: Digital Efficiency

    Online loans for bad credit no credit check leverage digital technology to maximize processing efficiency.

    GadCapital’s digital efficiency includes:

    • Automated income verification
    • Instant bank account validation
    • Electronic document processing
    • Real-time approval notifications

    Bad credit no credit check online systems operate 24/7, allowing borrowers to apply and receive decisions outside traditional banking hours.

    Payment Flexibility Options for First Time Personal Loans No Credit History

    Repayment Terms for No Credit Score Loans

    Repayment terms for no credit score loans offer flexible scheduling options that accommodate various income patterns.

    GadCapital provides multiple repayment structures for borrowers without established credit scores.

    No credit score loans feature terms ranging from 2 weeks to 6 months, allowing borrowers to select schedules that align with their pay cycles and budget constraints.

    Customizable Payment Schedules

    Customizable payment schedules enable borrowers to adjust repayment timing based on individual financial situations.

    GadCapital’s main scheduling options:

    • Weekly payments for frequent income earners
    • Bi-weekly payments matching standard pay periods
    • Monthly payments for salaried employees
    • Custom dates aligned with other financial obligations

    Payment flexibility reduces the risk of default and helps borrowers maintain positive relationships with lenders.

    Final Thoughts on GadCapital’s No Credit Check Lending Solutions

    GadCapital’s no credit check lending solutions fill a critical gap in the financial services market by providing accessible funding to millions of Americans who face barriers with traditional lending, and the company’s focus on income-based approval processes, same-day funding, and flexible repayment options creates opportunities for financial stability among borrowers who might otherwise resort to more expensive alternatives or remain unable to address urgent financial needs.

    Disclaimer: GadCapital matches you with lending partners. Approval isn’t automatic – it depends on each lender’s criteria and your state’s rules. Our credit check won’t ding your score. Your loan details depend on which lender picks you and your financial situation. Money usually hits your account fast, but every bank’s different.

    Contact Data

    GadCapital Press Office
    Phone: (800) 961-5909
    Email: info@gadcapital.com
    Website: https://gadcapital.com

    The MIL Network –

  • MIL-OSI: Bad Credit? No Problem: GadCapital Launches No Credit Check $500–$1,000 Same-Day Loans for Rent, Bills, & More

    Source: GlobeNewswire (MIL-OSI)

    Aventura, Florida, July 10, 2025 (GLOBE NEWSWIRE) — Loans for bad with credit no credit check have become essential financial solutions for individuals facing urgent expenses without traditional credit approval barriers. GadCapital addresses this critical need by offering same-day funding between $500 and $1,000, eliminating the stress of credit score requirements that often prevent access to emergency funds. Loans for no credit check provide immediate relief for rent payments, utility bills, and unexpected expenses that cannot wait for lengthy approval processes.

    Key Points: GadCapital’s Loans for Bad Credit No Credit Check Solutions

    • GadCapital offers loans for bad credit no credit check ranging from $500 to $1,000 with same-day funding for urgent financial needs like rent and bills.
    • The company provides installment loans for bad credit no credit check with flexible repayment terms that accommodate borrowers’ financial situations.
    • Applicants can access easy loans no credit check through an online application process that requires minimal documentation.
    • GadCapital’s loans no credit check are approved based on income verification rather than traditional credit score requirements.
    • The platform specializes in loans no credit checks for emergency expenses, offering quick approval and funding within hours of application submission.

    Quick no credit check loans from GadCapital deliver fast financial assistance when traditional lenders reject applications based on credit history. Best no credit check loans focus on current income and ability to repay rather than past financial mistakes, making loans with no credit accessible to borrowers who need immediate cash flow solutions. No credit check loans ensure that financial emergencies receive prompt attention without the delays and rejections associated with conventional lending requirements.

    GadCapital Loans for Bad Credit No Credit Check: Same-Day Financial Solutions

    GadCapital loans for bad credit no credit check represent a breakthrough in accessible lending for Americans facing financial challenges.

    The company’s new same-day financial solutions serve the 38% of U.S. consumers classified as non-prime or credit invisible, including 15% with sub-600 credit scores and 23% who are “credit invisible” according to recent market data.

    Bad credit no credit check approval processes eliminate traditional barriers that prevent millions from accessing emergency funds.

    GadCapital’s platform focuses on income verification rather than credit history, making loans available within hours of application approval.

    Types of Loans with No Credit Checks Available Through GadCapital

    Emergency Loans for No Credit History with Guaranteed Approval

    Emergency loans for no credit history provide instant access to funds when unexpected expenses arise, with guaranteed approval.

    GadCapital’s emergency lending solutions target the most common financial needs identified in borrower surveys:

    • Food expenses (54% of borrowers)
    • Housing and rent payments (49% of borrowers)
    • Utility bills (41% of borrowers)
    • Personal necessities (38% of borrowers)

    No credit history requirements mean applicants receive decisions based solely on current income and basic eligibility factors.

    Personal Loans for No Credit and Guaranteed Approval: Flexible Funding for Various Needs

    Personal loans for no credit offer versatile financing options for borrowers without established credit profiles.

    GadCapital’s personal lending products accommodate diverse financial situations while maintaining smooth guaranteed approval processes.

    Loan amounts range from $500 to $1,000, matching the typical range for no credit personal loans in the current market.

    Borrowers use these funds for medical expenses, childcare costs, and other essential needs beyond emergency situations.

    Loans with No Credit Requirements: Income-Based Guaranteed Approval Process

    Loans with no credit requirements rely on employment verification and income documentation instead of credit scores.

    GadCapital’s income-based approval process evaluates:

    1. Current employment status
    2. Monthly income verification
    3. Bank account information
    4. Residency confirmation

    No credit requirements eliminate the barrier that traditional lenders create for credit-invisible consumers seeking financial assistance.

    Loans for People with No Credit: Accessible Financial Solutions

    Loans for people with no credit address the needs of Americans who lack traditional credit histories.

    GadCapital’s accessible financial solutions serve borrowers who may be new to credit or have avoided traditional banking relationships.

    Short Term Loans No Credit Check: Quick Repayment Options

    Short term loans no credit check feature repayment periods designed for borrowers who need immediate funds with manageable payback schedules.

    GadCapital’s quick repayment options:

    • Weekly payment plans
    • Bi-weekly schedules
    • Monthly repayment terms

    No credit check short-term lending maintains approval rates above 60% for subprime and no-score borrowers, similar to trends in related lending sectors.

    Urgent Loans for Bad Credit No Credit Check: Crisis Funding with Guaranteed Approval

    Urgent loans for bad credit no credit check provide immediate financial relief during crisis situations.

    GadCapital’s crisis management funding delivers same-day guaranteed approval and funding for borrowers facing:

    • Unexpected medical bills
    • Emergency home repairs
    • Vehicle breakdown costs
    • Job loss situations

    Bad credit no credit check policies ensure that past financial difficulties don’t prevent access to emergency funding when needed most.

    No Credit Needed Loans: GadCapital’s Qualification Process

    No credit needed loans eliminate complex qualification requirements that traditional lenders impose. Borrowers complete applications in minutes rather than hours or days.

    GadCapital’s simplified qualification process requires only basic documentation and income verification. Credit needed barriers disappear when lenders focus on current financial capacity rather than historical credit performance.

    Small Loans with No Credit Check: Modest Amounts for Essential Expenses

    Small loans with no credit check provide modest funding amounts perfect for covering essential expenses without creating overwhelming debt burdens.

    GadCapital’s guaranteed no credit check small loan products target the $500-$1,000 range that borrowers most commonly request.

    GadCapital Application Process for No Credit Check Small Loans

    Quick Loans with No Credit Check: Easy Online Application

    Quick loans with no credit check feature GadCapital’s online application that takes less than 10 minutes to complete, and includes a few steps:

    1. Basic personal information entry
    2. Income and employment details
    3. Bank account verification
    4. Digital signature completion

    No credit check applications eliminate waiting periods associated with credit report reviews and scoring analysis, even for 1-hour payday loans no credit check.

    Easy Approval Loans for Bad Credit: Simple Documentation Steps

    Easy approval loans for bad credit require minimal documentation compared to traditional lending products. Bad credit histories don’t disqualify applicants when documentation demonstrates current financial stability and repayment capacity.

    GadCapital’s simple documentation requirements:

    • Recent pay stubs or income statements
    • Valid government-issued identification
    • Active bank account information
    • Proof of residence

    Requirements for Personal Loans for No Credit History

    Income Based Loans No Credit Check: Employment Verification Standards

    Income based loans no credit check rely on employment verification as the primary qualification factor.

    GadCapital’s employment verification standards require:

    • Minimum monthly income of $1,000
    • Employment history of at least 90 days
    • Direct deposit capability
    • Stable income source documentation

    No credit check income verification processes use bank statements and pay stubs rather than credit bureau reports to help get guaranteed approval.

    Small Loans No Credit Check: Basic Eligibility Criteria

    Small loans no credit check maintain straightforward eligibility requirements that most working adults can meet. Basic eligibility criteria include:

    • Age 18 or older
    • U.S. citizenship or permanent residency
    • Active checking account
    • Valid contact information

    No credit check eligibility focuses on current circumstances rather than past financial challenges or credit mistakes.

    Funding Speed for Quick Loans No Credit Check with GadCapital

    Same-Day Processing for No Credit Check Installment Loans with Guaranteed Approval

    Same-day processing for no credit check installment loans delivers funds within hours of approval, guaranteed.

    GadCapital’s same-day service processes applications and transfers funds on the same business day for qualified borrowers.

    No credit check installment loans eliminate the multi-day waiting periods that traditional lenders require for credit verification and underwriting reviews.

    Online Loans for Bad Credit No Credit Check: Digital Efficiency

    Online loans for bad credit no credit check leverage digital technology to maximize processing efficiency.

    GadCapital’s digital efficiency includes:

    • Automated income verification
    • Instant bank account validation
    • Electronic document processing
    • Real-time approval notifications

    Bad credit no credit check online systems operate 24/7, allowing borrowers to apply and receive decisions outside traditional banking hours.

    Payment Flexibility Options for First Time Personal Loans No Credit History

    Repayment Terms for No Credit Score Loans

    Repayment terms for no credit score loans offer flexible scheduling options that accommodate various income patterns.

    GadCapital provides multiple repayment structures for borrowers without established credit scores.

    No credit score loans feature terms ranging from 2 weeks to 6 months, allowing borrowers to select schedules that align with their pay cycles and budget constraints.

    Customizable Payment Schedules

    Customizable payment schedules enable borrowers to adjust repayment timing based on individual financial situations.

    GadCapital’s main scheduling options:

    • Weekly payments for frequent income earners
    • Bi-weekly payments matching standard pay periods
    • Monthly payments for salaried employees
    • Custom dates aligned with other financial obligations

    Payment flexibility reduces the risk of default and helps borrowers maintain positive relationships with lenders.

    Final Thoughts on GadCapital’s No Credit Check Lending Solutions

    GadCapital’s no credit check lending solutions fill a critical gap in the financial services market by providing accessible funding to millions of Americans who face barriers with traditional lending, and the company’s focus on income-based approval processes, same-day funding, and flexible repayment options creates opportunities for financial stability among borrowers who might otherwise resort to more expensive alternatives or remain unable to address urgent financial needs.

    Disclaimer: GadCapital matches you with lending partners. Approval isn’t automatic – it depends on each lender’s criteria and your state’s rules. Our credit check won’t ding your score. Your loan details depend on which lender picks you and your financial situation. Money usually hits your account fast, but every bank’s different.

    Contact Data

    GadCapital Press Office
    Phone: (800) 961-5909
    Email: info@gadcapital.com
    Website: https://gadcapital.com

    The MIL Network –

  • MIL-OSI: ConnectOne Bancorp, Inc. to Host 2025 Second Quarter Results Conference Call on July 29, 2025

    Source: GlobeNewswire (MIL-OSI)

    ENGLEWOOD CLIFFS, N.J., July 10, 2025 (GLOBE NEWSWIRE) — ConnectOne Bancorp, Inc. (Nasdaq: CNOB) (the “Company” or “ConnectOne”), parent company of ConnectOne Bank (the “Bank”), today announced that it plans to release results for the second quarter ended June 30, 2025, before the market opens on Tuesday, July 29, 2025. Management will also host a conference call and audio webcast at 10:00 a.m. ET on July 29, 2025, to review the Company’s financial performance and operating results.

    Chairman and Chief Executive Officer Frank Sorrentino III and Senior Executive Vice President and Chief Financial Officer William S. Burns will host the call. The conference call dial-in number is 1 (646) 307-1963, access code 7519286. Please dial in at least five minutes before the start of the call to register. An audio webcast of the conference call will be available to the public, on a listen-only basis, via the “Investor Relations” link on the Company’s website https://www.ConnectOneBank.com or at http://ir.connectonebank.com.

    A replay of the conference call will be available beginning at approximately 1:00 p.m. ET on Tuesday, July 29, 2025, and ending on Tuesday, August 5, 2025, by dialing 1 (609) 800-9909, access code 7519286. An online archive of the webcast will be available following the completion of the conference call at https://www.ConnectOneBank.com or at http://ir.connectonebank.com.

    About ConnectOne Bancorp, Inc.
    ConnectOne Bancorp, Inc., is a modern financial services company that operates, through its subsidiary, ConnectOne Bank, and the Bank’s fintech subsidiary, BoeFly, Inc. ConnectOne Bank is a high-performing commercial bank offering a full suite of banking & lending products and services that focus on small to middle-market businesses. BoeFly, Inc. is a fintech marketplace that connects borrowers in the franchise space with funding solutions through a network of partner banks. ConnectOne Bancorp, Inc. is traded on the Nasdaq Global Market under the trading symbol “CNOB,” and information about ConnectOne may be found at https://www.connectonebank.com.

    Investor Contact:
    William S. Burns
    Senior Executive VP & CFO
    201.816.4474: bburns@cnob.com

    Media Contact:
    Shannan Weeks, MWW
    MikeWorldWide
    732.299.7890: sweeks@mww.com

    The MIL Network –

  • MIL-OSI: Capital City Bank Announces Appointment of William G. Smith III to Board of Directors

    Source: GlobeNewswire (MIL-OSI)

    TALLAHASSEE, Fla., July 10, 2025 (GLOBE NEWSWIRE) — Capital City Bank is pleased to announce William G. Smith III has joined its board of directors, continuing a family legacy spanning four generations. Smith, who is now in his 18th year of service with Capital City Bank, is chief lending officer responsible for driving the lending strategies of the Bank.

    “We are pleased to welcome William to our board of directors,” said Tom Barron, Capital City Bank Group president and chairman of the Capital City Bank Board of Directors. “I have had the privilege of working alongside William throughout his entire career at Capital City Bank, and I have witnessed firsthand his growth, dedication and leadership. His experience, strategic vision and deep knowledge of our business will be invaluable as the Bank continues to grow and evolve.”

    With this appointment, Smith continues a proud family legacy, becoming the fourth generation of Smiths to serve on the Capital City Bank Board of Directors. The tradition began in 1919 with the appointment of William Henry Smith. In 1937, his widow, Fanny Smith, was elected to the board alongside her son, Godfrey Smith, who dedicated 62 years to Capital City Bank. The current Capital City Bank Group Chairman and CEO, William G. Smith Jr., began his career with Capital City Bank in 1978 and was elected to the board in 1995.

    Smith joined Capital City Bank in 2007 and has since developed expertise in a range of specialties, including small business, commercial banking, special assets and private banking. He has held several key leadership roles over his tenure, gradually expanding his sphere of responsibility. As a market president from 2020 until 2023, Smith led the revenue and lending functions for Leon County. In 2023, he was promoted to North Florida Region executive, overseeing an operational area that included Leon, Gadsden, Jefferson, Madison, Taylor and Wakulla counties in Florida and Grady County in Georgia. In January of 2025, he was appointed to chief lending officer, where he now leads the Bank’s lending strategies and operations.

    About Capital City Bank Group, Inc.
    Capital City Bank Group, Inc. (NASDAQ: CCBG) is one of the largest publicly traded financial holding companies headquartered in Florida and has approximately $4.5 billion in assets. We provide a full range of banking services, including traditional deposit and credit services, mortgage banking, asset management, trust, merchant services, bankcards, securities brokerage services and financial advisory services, including the sale of life insurance, risk management and asset protection services. Our bank subsidiary, Capital City Bank, was founded in 1895 and now has 62 banking offices and 105 ATMs/ITMs in Florida, Georgia and Alabama. For more information about Capital City Bank Group, Inc., www.ccbg.com.

    For Information Contact:
    Brooke Hallock
    Hallock.Brooke@ccbg.com
    850.402.8525

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/43393291-5cbd-44e6-980e-af7a36f76ab9

    The MIL Network –

  • MIL-OSI: First Federal Savings Bank and ICBA: 10 Tips for Safe Travel This Summer

    Source: GlobeNewswire (MIL-OSI)

    EVANSVILLE, Ind., July 10, 2025 (GLOBE NEWSWIRE) — As Americans make their travel plans this summer, First Federal Savings Bank and the Independent Community Bankers of America (ICBA) are sharing planning tips for consumers to minimize unwanted surprises during travel to maximize their enjoyment as they venture away from home.

    “Planning for the unexpected is the key to lessen the financial impact and increase your peace of mind when traveling domestic or abroad. Important factors are trip delays, lost or damaged merchandise, and last-minute expenses,” said Courtney Schmitt, VP, Marketing Manager at First Federal Savings Bank. “Call on First Federal Savings Bank and our expert staff who can offer support if you encounter an unforeseen expense during your travels.”

    ICBA and First Federal Savings Bank urge consumers to consider these 10 tips before departing for their next trip:

    1. Inform your community bank of your travel plans to avoid account holds or transaction rejections when unusual transactions are presented for processing. Set up a travel notice within the My Cards section of our banking app.*
    2. Ensure you have a chip-enabled card or contactless card, particularly if your travel plans take you overseas where chip technology may be a prerequisite for card acceptance.
    3. Carry multiple cards as a backup. Families or couples may get even greater backup coverage if each person takes a different card.
    4. Create transaction alerts for credit and debit cards. If you suspect your information has been compromised, contact your bank and credit card provider immediately. For information about what to do in the event of a lost or stolen card, visit the Visa and Mastercard websites.
    5. Inquire about special card features like travel accident insurance and traveler’s assistance.
    6. Choose an ATM or bank for currency purchases for fewer fees and an exact conversion rate.
    7. Check card readers for signs of tampering. When in doubt, choose another terminal.
    8. Lock away valuables such as passports, backup credit cards, financial information, and cash.
    9. Use social media with care. Posting your pictures or whereabouts during travel could leave you susceptible to home invaders.
    10. Monitor charge activity. Review purchases and ATM withdrawals with your bank and credit card companies when you return home and save your receipts. Be sure to set up alerts within the My Cards section of our banking app* to receive alerts in real time.

    *Data rates may apply

    About First Federal Savings Bank Member FDIC

    First Federal Savings Bank was established on Evansville, Indiana’s Westside in 1904. A community bank offering eight locations in Posey, Vanderburgh, Warrick, and Henderson County. First Federal Savings Bank is also proud to offer Home Building Savings Bank locations in Daviess and Pike County.

    About ICBA

    The Independent Community Bankers of America® has one mission: to create and promote an environment where community banks flourish. We power the potential of the nation’s community banks through effective advocacy, education, and innovation.

    As local and trusted sources of credit, America’s community banks leverage their relationship-based business model and innovative offerings to channel deposits into the neighborhoods they serve, creating jobs, fostering economic prosperity, and fueling their customers’ financial goals and dreams. For more information, visit ICBA’s website at icba.org.

    The MIL Network –

  • MIL-OSI: First Federal Savings Bank and ICBA: 10 Tips for Safe Travel This Summer

    Source: GlobeNewswire (MIL-OSI)

    EVANSVILLE, Ind., July 10, 2025 (GLOBE NEWSWIRE) — As Americans make their travel plans this summer, First Federal Savings Bank and the Independent Community Bankers of America (ICBA) are sharing planning tips for consumers to minimize unwanted surprises during travel to maximize their enjoyment as they venture away from home.

    “Planning for the unexpected is the key to lessen the financial impact and increase your peace of mind when traveling domestic or abroad. Important factors are trip delays, lost or damaged merchandise, and last-minute expenses,” said Courtney Schmitt, VP, Marketing Manager at First Federal Savings Bank. “Call on First Federal Savings Bank and our expert staff who can offer support if you encounter an unforeseen expense during your travels.”

    ICBA and First Federal Savings Bank urge consumers to consider these 10 tips before departing for their next trip:

    1. Inform your community bank of your travel plans to avoid account holds or transaction rejections when unusual transactions are presented for processing. Set up a travel notice within the My Cards section of our banking app.*
    2. Ensure you have a chip-enabled card or contactless card, particularly if your travel plans take you overseas where chip technology may be a prerequisite for card acceptance.
    3. Carry multiple cards as a backup. Families or couples may get even greater backup coverage if each person takes a different card.
    4. Create transaction alerts for credit and debit cards. If you suspect your information has been compromised, contact your bank and credit card provider immediately. For information about what to do in the event of a lost or stolen card, visit the Visa and Mastercard websites.
    5. Inquire about special card features like travel accident insurance and traveler’s assistance.
    6. Choose an ATM or bank for currency purchases for fewer fees and an exact conversion rate.
    7. Check card readers for signs of tampering. When in doubt, choose another terminal.
    8. Lock away valuables such as passports, backup credit cards, financial information, and cash.
    9. Use social media with care. Posting your pictures or whereabouts during travel could leave you susceptible to home invaders.
    10. Monitor charge activity. Review purchases and ATM withdrawals with your bank and credit card companies when you return home and save your receipts. Be sure to set up alerts within the My Cards section of our banking app* to receive alerts in real time.

    *Data rates may apply

    About First Federal Savings Bank Member FDIC

    First Federal Savings Bank was established on Evansville, Indiana’s Westside in 1904. A community bank offering eight locations in Posey, Vanderburgh, Warrick, and Henderson County. First Federal Savings Bank is also proud to offer Home Building Savings Bank locations in Daviess and Pike County.

    About ICBA

    The Independent Community Bankers of America® has one mission: to create and promote an environment where community banks flourish. We power the potential of the nation’s community banks through effective advocacy, education, and innovation.

    As local and trusted sources of credit, America’s community banks leverage their relationship-based business model and innovative offerings to channel deposits into the neighborhoods they serve, creating jobs, fostering economic prosperity, and fueling their customers’ financial goals and dreams. For more information, visit ICBA’s website at icba.org.

    The MIL Network –

  • MIL-OSI United Kingdom: UK Export Finance announces backing of major Taiwan offshore wind project

    Source: United Kingdom – Government Statements

    Press release

    UK Export Finance announces backing of major Taiwan offshore wind project

    UK Export Finance provides support for British exporters supplying a new multi-million pound renewable energy development.

    Greater Changhua 2 is a 632 MW offshore wind farm comprised of both Greater Changhua 2a, which is operational, and Greater Changhua 2b, which is under construction

    • Export Credit Agency provides guarantee to develop one of Asia’s largest offshore wind sites

    • Backing of wind farm will unlock opportunities for British exporters, strengthening Britain’s position as a clean energy superpower

    UK Export Finance (UKEF) is guaranteeing financing for a major offshore wind farm project in Taiwan, creating export opportunities for British businesses.

    In support of the government’s Plan for Change and its mission to kickstart economic growth, UKEF – the UK government’s export credit agency – is providing a €146 million Buyer Credit Guarantee to assist the development of 632MW of renewable energy capacity off coast in the Taiwan Strait.

    The deal enables British exporters Cadeler, CRP Subsea, Ordtek, and Cathie to secure contracts to provide specialised services and critical components.

    It also supports jobs across the UK’s renewable energy supply chain, reinforcing Britain’s position as a global leader in the low-carbon transition – a key ambition set out in the government’s modern Industrial Strategy.

    Ørsted, the lead sponsor for this project, is a great example of a business transforming from one reliant on fossil fuels to one based on renewable energy.

    The new wind farm will result in reductions of carbon emissions estimated at 1,118,000 tonnes of carbon dioxide equivalent per year.

    The project is being financed in collaboration with export credit agencies from Denmark, Norway, South Korea, and Taiwan.

    Minister for Exports, Gareth Thomas, said:

    This shows how Government is boosting exports in our key growth sectors and supporting jobs across the country as part of our Plan for Change.

    This investment will enable British innovation in renewable technology to scale up Taiwan’s clean energy transition and follows our modern Industrial Strategy, which provides up to £13 billion of direct lending for UKEF to help businesses to export.

    Trond Westlie, Group CFO of Ørsted, said:

    We’ve received very strong support from both international and local banks and export credit agencies for the project financing of Greater Changhua 2. This shows that there is a healthy appetite for premium assets with robust contractual structures, and it’s a clear sign that we’re working diligently to deliver on our divestment and partnerships programme.

    Danielle Baron, Global Head of Energy & Real Assets, Credit Agricole CIB, said:

    As the ECA Coordinator and Documentation Bank for the multi-billion financing of the Greater Changhua 2 project, Crédit Agricole CIB reaffirms its strong commitment to the renewable energy sector. This landmark transaction highlights our dedication to supporting our clients and partners in delivering society’s clean energy needs. It underscores the strength of our collaboration with UKEF and the other European Export Credit Agencies, whose contribution have been key to the development of the offshore wind sector in the APAC region.

    This announcement helps to deliver UKEF’s goal to provide at least £10 billion of financing for sustainable and renewable projects by 2030, enabling the UK to build export opportunities in clean growth sectors while supporting global decarbonisation efforts.

    Contact

    Media enquiries:

    Updates to this page

    Published 10 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Financial news: Insurance license revoked from SK KHATKHOR LLC (10.07.2025)

    Translation. Region: Russian Federal

    Source: Central Bank of Russia –

    An important disclaimer is at the bottom of this article.

    By order No. OD-1469 dated 10.07.2025, the Bank of Russia revoked the license dated 28.12.2023 OS No. 4404-03 for the implementation of compulsory motor third party liability insurance (MTPL) of the limited liability company INSURANCE COMPANY HATHOR (registration number according to the unified state register of insurance entities 4404, hereinafter referred to as SK HATHOR LLC).

    The Bank of Russia made this decision on the basis of subparagraph 3 of paragraph 2 of Article 32.8 of Law No. 4015-1 of the Law of the Russian Federation of 27.11.1992 “On the Organization of Insurance Business in the Russian Federation” (hereinafter referred to as Law No. 4015-1), guided by the fact that SK KHATKHOR LLC:

    violated the minimum permissible value of the standard ratio of own funds (capital) and accepted liabilities established by the Bank of Russia in accordance with paragraph 4.1 of Article 25 of Law No. 4015-1, which creates a threat to the rights and legitimate interests of policyholders, insured persons, and beneficiaries. In order to comply with the requirements of the financial stability of the insurer, the minimum permissible value of the standard ratio is 1. The value of the standard ratio of SK KHATKHOR LLC has been steadily decreasing in 2025 from 0.75 on 31.01.2025 to 0.31 on 31.05.2025; previously violated the requirements of insurance legislation, in connection with which the Bank of Russia applied to it for one year the measures provided for in the third paragraph of subparagraph 2 of paragraph 2 of Article 32.5-1 of Law No. 4015-1.

    The decision came into force on the day of its adoption.

    By order of the Bank of Russia dated 10.07.2025 No. OD-1470, a temporary administration of SK KHATKHOR LLC was appointed from 10.07.2025 for a period of six months.

    The functions of the temporary administration are assigned to the State Corporation “Deposit Insurance Agency”, which exercises the powers of the executive bodies of LLC “SK “KHATKHOR”, identifies creditors of LLC “SK “KHATKHOR” and maintains a list of submitted claims.

    After the revocation of the license of SK KHATKHOR LLC, the MTPL contracts continue to be valid until their expiration.

    Compensation payments for damage caused to the life, health or property of the victim under the OSAGO contracts of LLC “SK “KHATKHOR” will be carried out by the Russian Union of Auto Insurers (RSA). Information on the implementation of compensation payments can be found on the official website of the RSABBV. Autoins.ru, section “Compensation payments”.

    In connection with the revocation of the license of LLC “SK “KHATKHOR”, policyholders have the right to terminate the MTPL agreement early. In this case, the policyholder must be returned a portion of the insurance premium minus the costs of implementing MTPL and deductions to the reserve for compensation payments, in the amount of the share attributable to the unexpired term of the agreement or the unexpired period of use of the vehicle.

    For early termination of the MTPL agreement, as well as other issues related to the activities of LLC “SK “KHATKHOR”, please contact the following address: 283001, Donetsk People’s Republic, Donetsk city district, Donetsk city, Ilyicha ave., 3.

    When using the material, a link to the Press Service of the Bank of Russia is required.

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Russia: Mongolia’s annual inflation rate reached 8.2 percent in June 2025

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    ULAN BATOR, July 10 (Xinhua) — Mongolia’s annual inflation rate reached 8.2 percent in June 2025, the country’s National Statistical Committee said on Thursday.

    This indicator was directly affected by the increase in prices for imported goods and socially significant food products, the official statement says.

    Currently, the Central Bank of Mongolia is working to maintain the inflation rate within 5 percent (plus or minus 2 percentage points) in order to ensure macroeconomic and financial stability in the medium term.

    According to the Central Bank, in May 2025, annual inflation in Mongolia was 8.3 percent. At the same time, in the capital Ulaanbaatar, where more than half of the country’s population lives, this figure rose to 9.4 percent. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Africa: Afreximbank President Launches New Edition of Structured Trade Finance Book at 32nd Annual Meetings

    Source: APO

    African Export-Import Bank (Afreximbank) (www.Afreximbank.com) launched the second edition of Foundations and Evolution of Structured Trade Finance, a landmark publication on a specialised field of trade finance shaped by decades of real-world application.

    Authored by Professor Benedict O. Oramah, President and Chairman of the Board of Directors of Afreximbank and a pivotal figure in the development of Structured Trade Finance (STF), the book provides a practical, step-by-step guide to structuring trade finance transactions. It delves into real-world case studies, explores risks and the theoretical foundations of STF, and broadens its scope beyond commodities to address a wide range of trade scenarios.

    The updated edition introduces dedicated chapters on reserve-based lending, supply chain finance, and the use of emerging technologies in structured trade finance. These additions make the book particularly relevant in today’s complex and increasingly risk-sensitive global regulatory environment.

    Speaking at the book launch and signing event held during the 32nd Afreximbank Annual Meetings in Abuja, Nigeria, Professor Oramah reflected on the significant progress made in trade finance since the early 1990s.

    “When I joined Afreximbank in 1994 the world was still grappling with a severe sovereign debt crisis, and structured trade finance was just beginning to emerge as a tool for financing trade in challenging markets.

    “As Afreximbank began operations in 1994, we embraced structured trade finance for its ability to mitigate risk. At its core, structured trade finance enables practitioners to be innovative, as its fundamental principle allows for the transfer of risks from parties who are less able to bear them to those who are more capable of absorbing shocks,” said Professor Oramah.

    The first edition of the book highlighted trade finance structures that largely supported North-South trade—an approach that contributed to trade diversion, with businesses often favouring extra-African over intra-African trade due to more accessible financing.

    Today, global trade dynamics have shifted dramatically. South-South trade now dominates, with Africa’s trade with other developing countries rising from approximately 23% of its total trade in 1995 to an estimated 68% in 2024. Over the same period, Africa’s trade with advanced economies has declined to less than 50%.

    Structured Trade Finance has played a transformative role in reversing Africa’s trend of de-industrialisation. By extending beyond commodity-based structures, STF has supported the emergence of African manufacturing hubs, fostered regional and domestic value chains, and enabled the growth of small and medium-sized enterprises. Afreximbank continues to build the continent’s economic future on this foundation of innovation and resilience.

    The second edition of Foundations and Evolution of Structured Trade Finance is now available via Globe Law and Business (www.GlobeLawAndBusiness.com), Amazon, and major retailers including Blackwell’s, Waterstones, Wildy’s, Baker & Taylor, and Gardners.

    Distributed by APO Group on behalf of Afreximbank.

    Media Contact:
    Vincent Musumba
    Communications and Events Manager (Media Relations)
    Email: press@afreximbank.com

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    About Afreximbank:
    African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2024, Afreximbank’s total assets and contingencies stood at over US$40.1 billion, and its shareholder funds amounted to US$7.2 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB-). Afreximbank has evolved into a group entity comprising the Bank, its equity impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is headquartered in Cairo, Egypt.

    For more information, visit: www.Afreximbank.com

    Media files

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    MIL OSI Africa –

  • MIL-OSI Economics: Financial Action Task Force (FATF) High risk and other monitored jurisdictions – June 12-13, 2025

    Source: Reserve Bank of India

    The Financial Action Task Force (FATF) vide public document ‘High-Risk Jurisdictions subject to a Call for Action’ – 13 June 2025, has called on its members and other jurisdictions to refer to the statement on Democratic People’s Republic of Korea (DPRK) and Iran adopted in February 2020 which remains in effect. Further, Myanmar was added to the list of High-Risk Jurisdictions subject to a Call for Action in the October 2022 FATF plenary and FATF has called on its members and other jurisdictions to apply enhanced due diligence measures proportionate to the risk arising from Myanmar. When applying enhanced due diligence measures, countries have been advised to ensure that flows of funds for humanitarian assistance, legitimate NPO activity and remittances are not disrupted. The status of Myanmar in the list of countries subject to a call for action, remains unchanged.

    FATF had earlier identified the following jurisdictions as having strategic deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing and had placed the jurisdictions under Increased Monitoring, which had developed action plan with the FATF to deal with them. These jurisdictions were: Algeria, Angola, Bulgaria, Burkina Faso, Cameroon, Côte d’Ivoire, Croatia, Democratic Republic of the Congo, Haiti, Kenya, Lao People’s Democratic Republic (Lao PDR), Lebanon, Mali, Monaco, Mozambique, Namibia, Nepal, Nigeria, South Africa, South Sudan, Syria, Tanzania, Venezuela, Vietnam and Yemen. As per the June 13, 2025 FATF public statement, Bolivia and the Virgin Islands (UK) have been added to the list of Jurisdictions under Increased Monitoring while Croatia, Mali and Tanzania have been removed from this list based on review by the FATF.

    FATF plenary releases documents titled “High-Risk jurisdictions subject to a Call for Action” and “Jurisdictions under Increased Monitoring” with respect to jurisdictions that have strategic AML/CFT deficiencies as part of the ongoing efforts to identify and work with jurisdictions with strategic Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) deficiencies. This advice does not preclude the regulated entities from legitimate trade and business transactions with these countries and jurisdictions mentioned there.

    The detailed information is available in the updated public statements and document released by FATF on June 13, 2025. The statements and document can be accessed at the following URL:

    1. https://www.fatf-gafi.org/en/publications/Fatfgeneral/outcomes-FATF-MONEYVAL-plenary-june-2025.html

    2. https://www.fatf-gafi.org/en/publications/High-risk-and-other-monitored-jurisdictions/increased-monitoring-june-2025.html

    3. https://www.fatf-gafi.org/en/publications/High-risk-and-other-monitored-jurisdictions/Call-for-action-june-2025.html

    About FATF

    The Financial Action Task Force (FATF) is an inter-governmental body established in 1989 by the Ministers of its Member jurisdictions. The objectives of the FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system. The FATF monitors the progress of its members in implementing necessary measures, reviews money laundering and terrorist financing techniques and counter-measures, and promotes the adoption and implementation of appropriate measures globally. The FATF’s decision making body, the FATF Plenary, meets three times a year and updates these statements, which may be noted.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/686

    MIL OSI Economics –

  • MIL-OSI Economics: Financial Action Task Force (FATF) High risk and other monitored jurisdictions – June 12-13, 2025

    Source: Reserve Bank of India

    The Financial Action Task Force (FATF) vide public document ‘High-Risk Jurisdictions subject to a Call for Action’ – 13 June 2025, has called on its members and other jurisdictions to refer to the statement on Democratic People’s Republic of Korea (DPRK) and Iran adopted in February 2020 which remains in effect. Further, Myanmar was added to the list of High-Risk Jurisdictions subject to a Call for Action in the October 2022 FATF plenary and FATF has called on its members and other jurisdictions to apply enhanced due diligence measures proportionate to the risk arising from Myanmar. When applying enhanced due diligence measures, countries have been advised to ensure that flows of funds for humanitarian assistance, legitimate NPO activity and remittances are not disrupted. The status of Myanmar in the list of countries subject to a call for action, remains unchanged.

    FATF had earlier identified the following jurisdictions as having strategic deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing and had placed the jurisdictions under Increased Monitoring, which had developed action plan with the FATF to deal with them. These jurisdictions were: Algeria, Angola, Bulgaria, Burkina Faso, Cameroon, Côte d’Ivoire, Croatia, Democratic Republic of the Congo, Haiti, Kenya, Lao People’s Democratic Republic (Lao PDR), Lebanon, Mali, Monaco, Mozambique, Namibia, Nepal, Nigeria, South Africa, South Sudan, Syria, Tanzania, Venezuela, Vietnam and Yemen. As per the June 13, 2025 FATF public statement, Bolivia and the Virgin Islands (UK) have been added to the list of Jurisdictions under Increased Monitoring while Croatia, Mali and Tanzania have been removed from this list based on review by the FATF.

    FATF plenary releases documents titled “High-Risk jurisdictions subject to a Call for Action” and “Jurisdictions under Increased Monitoring” with respect to jurisdictions that have strategic AML/CFT deficiencies as part of the ongoing efforts to identify and work with jurisdictions with strategic Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) deficiencies. This advice does not preclude the regulated entities from legitimate trade and business transactions with these countries and jurisdictions mentioned there.

    The detailed information is available in the updated public statements and document released by FATF on June 13, 2025. The statements and document can be accessed at the following URL:

    1. https://www.fatf-gafi.org/en/publications/Fatfgeneral/outcomes-FATF-MONEYVAL-plenary-june-2025.html

    2. https://www.fatf-gafi.org/en/publications/High-risk-and-other-monitored-jurisdictions/increased-monitoring-june-2025.html

    3. https://www.fatf-gafi.org/en/publications/High-risk-and-other-monitored-jurisdictions/Call-for-action-june-2025.html

    About FATF

    The Financial Action Task Force (FATF) is an inter-governmental body established in 1989 by the Ministers of its Member jurisdictions. The objectives of the FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system. The FATF monitors the progress of its members in implementing necessary measures, reviews money laundering and terrorist financing techniques and counter-measures, and promotes the adoption and implementation of appropriate measures globally. The FATF’s decision making body, the FATF Plenary, meets three times a year and updates these statements, which may be noted.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/686

    MIL OSI Economics –

  • MIL-OSI Europe: EIB Group appoints new Head of its Permanent Representation in Brussels and Deputy Secretary General

    Source: European Investment Bank

    EIB

    • Christian Pilgaard Zinglersen appointed as Head of EIB`s Permanent Representation in Brussels and Deputy Secretary General.
    • Zinglersen has been the Director of ACER, the Agency for the Cooperation of Energy Regulators.

    The European Investment Bank Group (EIB) has recruited ACER Director Christian Pilgaard Zinglersen as Deputy Secretary General and to head its Permanent Representation in Brussels. As Deputy Secretary General, the position also holds responsibility for the EIB Economics and Group Strategy departments.

    The Permanent Representation in Brussels is the EIB Group`s liaison office towards the European Commission, the Council and the Parliament, as well as all other European institutions, agencies and stakeholders. Zinglersen will succeed Kim Jørgensen, who was at the helm of the Permanent Representation since 2022.

    Christian Pilgaard Zinglersen joins from the Agency for the Cooperation of Energy Regulators (ACER), which he has led as its director since January 2020.Before he joined ACER, which he has led as its director since January 2020, he was the Head of the Global Clean Energy Ministerial Secretariat at the International Energy Agency (IEA) in Paris. Prior to that, he served as Deputy Permanent Secretary at the Danish Ministry of Energy, Utilities and Climate, responsible for energy policy alongside other portfolios. He started his career at the Danish Ministry of Foreign Affairs focusing on EU policy and law, and was posted in Brussels for three years at the Danish Permanent Representation to the EU.

    Christian Zinglersen holds a master’s degree in law from the University of Copenhagen and is a graduate of the IESE Business School’s Advanced Management Program, as well as of the Harvard Kennedy School’s Senior Managers in Government program.

    EIB President Nadia Calviño welcomed the appointment, saying: “I am delighted to welcome Christian Zinglersen to our top management team. He brings his strong management and negotiation skills and his successful experience at the helm of a key EU agency.”

    “I am proud to join the European Investment Bank Group at this crucial time for Europe. The Bank harbours unique market and investment insights into ‘real-world’ challenges and opportunities, key to driving strategic imperatives for the EU’s competitiveness and security. I can’t wait to get started and I thank President Calviño and the EIB management team for their trust in me”, Christian Pilgaard Zinglersen said.

    Background Information

    The European Investment Bank is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, contribute to peace and security, and support a just and swift transition to climate neutrality. The Group’s AAA rating allows it to borrow at favourable conditions on the global markets, benefiting its clients within the European Union and beyond. The Group has the highest ESG standards and a tier one capital ratio of 32%.

    MIL OSI Europe News –

  • MIL-OSI Banking: Guidance Note on Managing the Financial Risks of Climate Change and Nature Loss

    Source: Isle of Man

    The Isle of Man Financial Services Authority has published guidance to raise awareness within the regulated sector of climate and nature loss risks and provide further clarity around the expectations of the Authority in respect of these risks.

    This represents a significant first step in the Authority’s work  to support the ambitions highlighted in the Isle of Man Sustainable Finance Roadmap. This initiative aims to facilitate the Isle of Man creating an environment where sustainable finance can thrive, benefitting our community and economy alike.

    The Authority’s workstreams are focussed on creating a platform that enables firms to develop products and services, with a view to fostering the growth of sustainable finance as part of a well-regulated international business centre.

    This guidance note is applicable to entities regulated under the Financial Services Act 2008, the Insurance Act 2008 and the Collective Investment Scheme Act 2008. It aims to give a high-level understanding of how climate and nature loss risks can create financial and other risks, as well as the expectations that the Authority has of firms that identify a material risk. The document focusses on how these risk management expectations sit within the existing regulatory frameworks, with no new requirements for firms. Another key focus area within the document is that of proportionality and materiality. The majority of the guidance is applicable only for business that have identified a material climate or nature risk as part of their risk assessment processes.

    Outreach by Finance Isle of Man has yielded positive feedback around the opportunities set out in the Isle of Man Sustainable Finance Initiative to enable growth for businesses, educate staff, attract talent and businesses to the Island and help the Isle of Man achieve  its wider goals for growth and sustainability. The Authority remains committed to driving forward an important project for our Island’s future.

    Media Enquiries:

    Adam Creamore, Sustainable Finance & ESG Adviser, email: Adam.Creamore@iomfsa.im

     

    For further information:

    PO BOX 58      DOUGLAS        ISLE OF MAN              IM99 1DT        BRITISH ISLES

     Twitter              LinkedIn             Facebook                       YouTube

    T: +44 (0) 1624 646000           E: info@iomfsa.im

    MIL OSI Global Banks –

  • MIL-OSI Africa: Burkina Faso Economic Update: Energy for Economic Growth

    Source: APO


    .

    According to the World Bank’s April 2025 Burkina Faso Economic Update, the country’s economy grew by 4.9% in 2024 compared to 3.0% in 2023. Real per capita GDP growth also increased from 0.7% to 2.5% over the same period.

    This acceleration is attributed mainly to the performance of services and agriculture, supported by an improved security situation, favorable weather conditions, and increased government support to the agriculture sector.

    However, inflation increased in 2024 to 4.2% from 0.7% in 2023, driven by the spike in food prices, caused by market speculation linked to a late start to the rainy season. Despite this, the strong growth in the agriculture and services sectors in 2024 reduced the extreme poverty rate by 3 points to 23.2%, with a sharper decline in rural areas. Despite this, the absolute number of people living in poverty remains high, exceeding 5.5 million.

    The report also notes a decline in the twin deficits (fiscal and current account) in 2024. The fiscal deficit improved in 2024 from 6.5% to 5.6% of GDP, thanks to better control of public spending and increased revenue mobilization. At the same time, the current account deficit also improved from 8.0% of GDP in 2023 to 6.4% in 2024, due to the rise in gold prices which boosted the value of exports. However, the financing of this deficit largely relied on regional markets, in an environment of high interest rates.

    The report highlights that the short- and medium-term outlook remains positive but is subject to multiple risks such as insecurity, climate shocks, debt refinancing, and challenges in the financial sector. Assuming these risks abate, growth is expected to strengthen to 5% over the medium term, driven by buoyant services, an expected recovery of industry, notably through improved energy access, and favorable average weather conditions for agriculture.

    Inflation, meanwhile, is expected to gradually stabilize within the WAEMU target range. This outlook, combined with continued fiscal consolidation, is expected to enable a continued but moderate reduction in poverty estimated at about 1 percentage point per year.

    Regarding the economy, Daniel Pajank and Ibrahim Nana, co-authors of the report, call for “Strengthening the mobilization and efficiency of public resources, including through the continuous modernization of the tax administration, the broadening of the tax base and the optimization of public spending, while improving debt management and mobilizing more concessional financing.”

    The Special Chapter on Energy for Economic Growth provides an assessment of the electricity sector in Burkina Faso and concrete recommendations to achieve the objectives set in the National Electrification Strategy. It highlights the key role of energy in the country’s economic transformation. According to Hamoud Abdel Wedoud Kamil, World Bank Country Manager for Burkina Faso, “Affordable, reliable, and sustainable electricity is essential to improve productivity in agriculture, support the growth of services, and revive the industrial sector.”

    Despite the efforts made, access to electricity remains limited in Burkina Faso, with a rate well below the regional average. This situation constitutes a major obstacle to inclusive growth and reduces economic opportunities for a large part of the population, particularly in rural areas.

    The co-authors of the chapter dedicated to the energy sector, Regina Nesiama Miller and Adwoa Asantewaa, emphasize that “An ambitious reform of the sector, including pricing based on the cost of electricity production and the expansion of off-grid access, would be essential to reduce vulnerabilities and ensure inclusive growth.“

    Finally, the report recommends tackling the structural constraints to the country’s economic transformation, particularly in the electricity sector, which remains characterized by some of the region’s highest generation costs and heavy reliance on imported fuels. 

    Distributed by APO Group on behalf of The World Bank Group.

    MIL OSI Africa –

  • MIL-OSI Banking: Annual Report 2024

    Source: Bank of Botswana

    The Bank of Botswana has released the 2024 Annual Report. The report includes the statutory report on the Bank’s operations during 2024 and audited financial statements. It also includes an economic review section providing an extensive range of economic and financial data. The economic review covers both recent developments in the Botswana economy and a theme section that looks in detail at the topic ‘Next Generation Payment Systems, Innovation And Financial Technologies – Opportunities For Botswana’.

    Annual Report 2024.pdf

    MIL OSI Global Banks –