Bloomberg International Islamic Liquidity Management Corp., which counts nine central banks as its shareholders, plans to sell $1.34 billion of three-month bills in its biggest offer since being set up in 2010 to support Shariah-compliant financial activity. The Kuala Lumpur-based institution, which added two more primary dealers to its existing network of nine last week, will auction the Islamic notes ...

Bloomberg The Azeri central bank said the job of overhauling the financial industry is almost done after shuttering every seventh lender in the country in 15 days and pushing several others to merge. “The process of restructuring the banking sector has mostly been completed,” Namiq Aliyev, head of the central bank’s press service, said Thursday in an e-mailed response to ...

Bloomberg When European regulators created a new type of bank debt, the idea was to transfer risk from taxpayers to investors. Now bondholders are learning what that really means. Yield-starved investors bought $102 billion of the contingent convertible bonds, securities created to help troubled banks hang onto cash in times of stress by skipping coupon payments without defaulting and converting ...