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Mian Muhammad Nazir The Emirates Bankers Association has set up an Islamic Banking Committee (IBC) to review various shariah governance models at the regulator's level and to propose a suitable model for the Central Bank of UAE to implement. The IBC is assessing the merits and demerits of different models practised in other countries. The IBC is mandated to suggest a shariah governance structure at the Central Bank which will provide the regulatory support to Islamic financial institutions (including Islamic windows) through setting up an Islamic banking department at the Central Bank of UAE. Most likely the shariah governance structure at the Central Bank will essentially follow an improved form of any of the existing models. This involves, among other things, establishing a shariah supervisory board at the Central Bank to oversee the overall regulation of the Islamic financial institutions. In proposing a suitable governance structure, particularly recommending a shariah supervisory board at the Central Bank, the Emirates Bankers Association would certainly be endeavouring to reconcile the mandatory provisions of Federal Law No 6 of 1985 and the precedents of having a shariah supervisory board at the central banks.

Continuing its efforts to promote transparency, Vietnam's Ministry of Finance issued Circular No 52/2012/TT-BTC on April 5 2012, guiding the disclosure of information on the securities market (Circular 52). This came into effect from June 1 2012, replacing Circular No 09/2010/TT-BTC (Circular 09). In addition to Circular 52, the State Securities Commission (SSC) promulgated Decision No 515/QD-UBCK dated June 25 2012 enabling the disclosure of information on the SSC website (Decision 515).

Gustavo Vega Arrazola Savings and Credit Entities (SCEs) are regulated financial institutions of private capital authorised to develop credit and lending activities. In El Salvador, the operation of SCEs is governed by the Law of Cooperative Banks and Savings and Credit Entities, which came into force on July 1 2001, and was amended in January 1 2009 to its current regime. SCEs are monitored by the Superintendency of the Financial System. As regulated financial institutions, SCEs are subject to many Banking Law provisions. SCEs can be authorised to accept deposits from the public; nevertheless they can operate as SCEs without the authorisation to accept deposits, just developing lending and credit activities.

Among the various measures taken by the Brazilian government to stimulate investments in infrastructure and research and development projects, one of them refers to issuance of debt securities to raise funds for such investments, which may be issued as debentures or any other type of securities admitted in Brazilian legislation (Capex Debentures).

Eduardo Guevara In 2007, Peru's first gas supply agreement for the development of a fertilizer plant was granted through a private bid. This was the first step in the development of the country's petrochemical industry. Simultaneously the Peruvian government granted certain benefits, including tax stability, based on the long-term investment required for the development of this kind of project. In the following years, new projects appeared for the development of ammonium nitrate plants, as well as an ethane project. Important amounts of investments were announced, and various authorities announced future plants in their regions.

The Ryanair/Aer Lingus deal reveals a shortfall in EU merger control regarding minority shareholdings. But is reform appropriate?

What do you get if you ask three economists to devise the future shape of the banking industry? It sounds like the beginning of a good joke doesn't it? Except, I can't quite think of the punch line.

Other countries are tipped to follow the UK Financial Services Authority's (FSA) lead and soften bank capital requirements ahead of Basel III implementation.

Zambia has become the latest Sub-Saharan sovereign to tap the international capital markets, issuing its inaugural sovereign bond.

PTT Global Chemical's (PTTGC) listing of $1 billion senior unsecured notes on the Singapore Exchange is the largest single-tranche US dollar bond offering by a Thai corporate.