SYDNEY/ Reuters The Islamic Financial Services Board (IFSB) plans to develop more detailed guidance on financial safety nets to help harmonise Islamic principles with existing legal systems, as the industry body strengthens ties with financial regulators. The Malaysia-based IFSB, one of the main standard-setting bodies in Islamic finance, is seeking to shed light on issues relating to sharia-compliant transactions in …

Bloomberg As Nordea Bank AB’s Bitcoin ban for staff has unions questioning the legality of the move, Sweden’s minister in charge of financial legislation says it’s understandable that the industry is resorting to such measures. “If banks have rules on what investments they or their employees are trading in, it is up to them,” Financial Markets Minister Per Bolund told …

Bloomberg UBS Group AG plans to keep the maximum amount of jobs and business in the UK as the country works towards a solution with European authorities on its exit from the trading block. The bank considers a centralised model more efficient and favors a European financial center that can “balance” New York, investment banking head Andrea Orcel said in …