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Akbar Komijani, deputy governor of the Central Bank of Iran, tells IFLR what is needed to help the Islamic finance market take off

Automatic and autonomous machines and systems have multiple applications across the financial sector but the regulatory implications cannot be ignored

The FCA’s announcement that it would phase out Libor by 2021 has confirmed that some key historic benchmarks are likely to be obsolete over time. But their replacements still have a role to play in the future

Both jurisdictions continue to invest heavily in initiatives that support the mutual development of their financial markets

The UK’s PRA has intensified bank recovery planning requirements far beyond existing UK and EU rules

A recent wave of public offering activity points to a re-opening of the country's equity markets to foreign investment

The Cyprus Securities and Exchange Commission (CySEC) has issued a summary of the changes to passporting arrangements and conditions governing the provision of investment services and activities by third country firms. These changes will apply as from January 3 2018 under Law 87(I)/2017, which transposes the Markets in Financial Instruments Directive (Mifid) II into Cyprus law. The scope of Mifid II is wider than the existing regulatory regime and the Mifid II passporting arrangements will apply to a broader range of activities, services and financial instruments than before. CySEC advises all the investment firms it regulates to review their passports and authorisations to determine whether they require amendment under the scope of Law 87 (I)/2017 and, if so, to submit the requisite notifications using the forms provided on CySEC's website.

The congress of Guatemala has been discussing Bill 5157, which contains amendments to Decree 19-2002 (Law of Banks and Financial Groups, or Ley de Bancos y Grupos Financieros). These amendments have the backing of the Ministry of Economy, the Monetary Board and the General Secretariat of the Presidency of the Republic.

Bond issuances in the Latam nation are rising, but investor confidence needs a further boost

A shareholder's interest in a limited liability company is expressed as a membership interest in an amount determined by its capital contribution. A capital contribution (cash or in kind) is understood to be a shareholder's investment in the company, and it becomes the property of the company. Except where capital is reduced when certain legal conditions are met, a shareholder is not entitled to seek return of its capital contribution unless the shareholder is terminating its participation in the company.