It seems that rising value of Australian dollar is hurting the economy beyond expectations. While countries across the world are grappling with inflation, Australia seems to be aloof to it. It has been told by the Outspoken Queensland MP, Bob Katter, that there is need to find ways to lower down the value of currency.

Sheikh Ahmed bin Saeed al-Maktoum, who is also chairman of Dubai's Supreme Fiscal Committee, expressed satisfaction over liquidity conditions of local banks of Dubai who weathered global downturn very effectively. Banking sector is reeling under pressure due to negative cues from the European and US markets given to their debt woes that may push the world in to yet another recession.

Reporting biggest ever monthly fall in August, deposits with the UAE banks declined more than Dh35 billion despite slight increase in lending and loan loss provisions, according to a release by Central Bank. This decline led to fall in the country’s 23 national banks and 28 foreign units by nearly Dh16bn.

The Reserve Bank of India, RBI, in its latest decision has allowed banks and NBFC's to sponsor Infrastructure Debt Funds. The bank put a maximum equity ceiling of 49% stake in these infrastructure debt funds while remaining in the ambient of rules like capital market exposure norms.

Leading Islamic Bank Al Hilal Bank embraced technology by launching thumb verification system. The technology is aimed at streamlining and to speed up daily banking transactions. The innovative procedure has been implementing following a series of rigorous tests and it significantly reduces waiting time of customers.

Banks in the United Arab Emirates are preparing for whole hearted financial support to the small and medium scale industry in a bid to boost profit. The move assumes significance in the wake of economic recovery from the credit crisis.

Strong economic fundamentals of United Arab Emirates (UAE) has rebuilt confidence among banks as they have started increasing lending to small and medium size companies. Lenders adopted protectionist approach some time ago given to tumbling position of real estate sector and falling debt recovery.