Ben T. Smith IV, a longtime Silicon Valley executive and currently head of the Communications, Media and Technology practice at Kearney, speaks to Global Finance about the post-SVB venture capital industry and the pace of innovation.
Many of the world's richest countries are also the world's smallest: the pandemic and the global economic slowdown barely made a dent in their huge wealth.
Global Finance editor Andrea Fiano interviews Ásgeir Jónsson, Central Bank Governor of Iceland during Global Finance's World's Best Bank Awards at the National Press Club in Washington, DC on October 15th.
Saudi Arabia’s Ministry of Finance raised 17 billion riyals ($4.5 billion) in its first domestic sukuk issuance in late July. Analysts at Moody’s Investors Service Middle East in Dubai say the issuance is credit positive for Saudi banks because their profitability will benefit from the transfer of their large, low-yielding reserves of cash and placements from the Saudi Arabian Monetary Authority and other banks to higher-yielding government Islamic bonds.
In addition, Moody’s says, the issuance will help address a shortage of shariah-compliant liquidity-management instruments for Islamic banks and support the development of a domestic sukuk market by establishing a yield curve. The finance ministry said 13 domestic banks had qualified to participate in the program for local currency Islamic bonds.
Alinma Bank assisted with structuring the sukuk. The kingdom issued its first international sukuk of $9 billion in April.
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