Australia’s march toward a cashless society is rapidly accelerating, with Bankwest, a subsidiary of the Commonwealth Bank of Australia (CBA), leading the charge by shuttering 45 physical branches and transitioning the remaining 15 CBA branches to digital-only operations by October 2024. The move underscores a broader trend within the Australian banking landscape, where traditional institutions... 

Lord Jacob Rothschild, the renowned financier and member of the esteemed Rothschild banking family, has passed away at the age of 87, as confirmed by his family. Lord Rothschild, a prominent figure in both finance and the arts, began his career in the family bank, NM Rothschild & Sons, in 1963. Notably, he co-founded the J Rothschild Assurance Group, now known as St James’s Place, in 1980... 

The online banking space keeps broadening year after year. Today, a myriad of countries have access to one-of-a-kind and speedy digital payment services that bring out a perfect level of convenience to their users. Australia is among these countries where people can take advantage of domestically popular PayID service. This is a unique, simple-to-recall identifier linked to your bank account that,... 

Restricting Russia’s access to the SWIFT international banking payment system would virtually mean a declaration of war, Prime Minister Dmitry Medvedev has warned. Speaking to reporters on Thursday, Medvedev recalled the West once seriously considered the option, and Moscow is aware of it. “This would in fact be a declaration of war, but nevertheless it was discussed,” the Russian prime minister... 

All over Europe Islamic banks are establishing branches, Western banks are offering Sharia-compliant financial services, and European governments are trying to outcompete each other in welcoming them. Proponents of banking along the lines of Sharia (Islamic law) claim that the Islamic banking system is “more ethical” than the West’s capitalist system. This is not true. Unfortunately, however,...