Bloomberg When the biggest Nordic bank turned its subsidiaries into branches, regulators in Finland, Denmark and Norway complained they were left with too-big-to fail operations but no power to rein them in. Oversight was instead left to Sweden. But the full consequences of Nordea Bank AB’s decision to consolidate its Nordic operations are only gradually becoming clear. In a …

  RABAT / Reuters Morocco’s central bank approved the use of five types of Islamic banking transaction, giving a final regulatory nod for the country to launch an Islamic finance industry. Islamic banks and insurers are setting up in Morocco after new legislation allowed them into the market, and the central bank has set up a central sharia board, a …

  Bloomberg Russia’s central bank, on the prowl for mismanaged lenders as part of an unprecedented three-year cleanup, is picking up right where it left off. The regulator revoked the licenses of two lenders, including the nation’s 42nd-biggest, Tatfondbank PJSC, after efforts to save them collapsed amid evidence of fraud. The affiliated banks are based in Tatarstan, an oil-rich and …