MIDDLE EAST AND NORTH AFRICA
* The Bank of Israel is looking at issuing digital currency to create a system to support faster payments and reduce the amount of cash in the economy, an insider told Reuters. Meanwhile, Israel Securities Authority Chairman Shmuel Hauser reportedly said the regulator plans to propose regulation banning companies based on digital currencies from trading on the Tel Aviv Stock Exchange
* The Israeli central bank said Bank Hapoalim BM's handling of a sexual harassment complaint against former CEO Zion Kenan "was not transparent, lacked sufficient challenging of the witnesses, supervision and inspection, and was not carried out in accordance with the provisions of the banking supervision regulations and proper corporate governance," but noted that the bank had generally acted correctly according to laws aimed at preventing sexual assault, Globes reported.
* Saudi Arabia expects oil revenue to increase by about 80% by 2023 because of rising prices and increased production, suggesting that the world's biggest petroleum exporter does not see a need to extend production cuts beyond 2018, insiders told Bloomberg News.
* Over the past few days, the Saudi government has released at least two dozen high-profile suspects, including former Finance Minister Ibrahim al-Assaf, who have been arrested as part of the government's sweeping crackdown on corruption, The Wall Street Journal reported. Insiders also told the paper that Saudi authorities are demanding at least $6 billion from Prince Al-Waleed bin Talal in exchange for his release from detention.
* Alawwal Bank's board of directors recommended a cash dividend of 25 Saudi Arabian halalas per share for 2017, Argaam wrote, noting that the bank's general assembly had previously approved withholding cash dividends for 2016. Separately, Saudi British Bank's board recommended an interim cash dividend of 71 halalas per share for the second half of 2017.
* Riyad Bank appointed Gamal AbdulKareem al-Ramah as vice chairman of the board, effective Dec. 25.
* The Saudi Capital Market Authority intends to ease investment regulations for the Nomu Parallel Market, which was launched in February, to boost investor interest and liquidity, insiders told Argaam.
* Commercial Bank (PSQC) agreed to extend, by 30 days to Jan. 24, 2018, the exclusivity period granted to Tabarak Investment in respect of its potential purchase of the Qatari lender's stake in United Arab Emirates-based United Arab Bank PJSC.
* Ithmaar Holding BSC secured approval from the UAE Securities and Commodities Authority to list on the Dubai Financial Market. The Bahrain-based firm noted that the listing remains subject to the Central Bank of Bahrain's final approval.
* Kuwait and Oman have decided to postponed the implementation of VAT to 2019, the Times of Oman and the Kuwait Times wrote.
* Dhofar Insurance Co. (SAOG) said its major shareholders plan to inject the necessary funds to restructure the company's capital and resolve its solvency margin deficit. The company had received a letter from Oman's Capital Market Authority, instructing it to suspend some activities, effective from January 2018, unless solvency margin deficit is resolved.
* Oman Arab Bank SAOC's board of directors endorsed CEO Amin al-Husseini's recommendation to appoint his deputy, Rashad al-Musafir, as acting CEO, with effect from Feb. 1, 2018, the Times of Oman reported.
* Bank of Palestine Plc will officially join Chile's banking industry association Abif in 2018, Pulso reported.
* EFG-Hermes Holding SAE CEO Karim Awad said the bank expects to start offering factoring services in the first quarter of 2018 as part of efforts to provide nonbanking services, Reuters reported.
* ACT Financial cut its stake in Beltone Financial Holding SAE to 9.56% from 14% through sale of 7.5 million shares at 13.26 Egyptian pounds apiece, Reuters wrote. Meanwhile, Beltone is considering issuing global depository receipts on the London Stock Exchange as part of increasing the company's free float to more than 22%.
* Shareholders of Housing & Development Bank approved increasing the company's issued and paid-up capital to 1.52 billion Egyptian pounds from 1.27 billion pounds through the issuance of 1 bonus share for every 10 shares, according to Reuters.
* BMCE Bank of Africa and Al Baraka Banking Group BSC launched their new Islamic finance institution, Bank al-Tamweel wa al-Inma, or BTI Bank, La Nouvelle Tribune reported. BMCE Bank of Africa will hold a 51% stake in the bank, which has a starting capital of $50 million and is expected to open about 20 branches in Morocco in the next five years.
* Sudanese Finance Minister Mohamed Othman Rukabi said his country plans to devalue its currency to 18 Sudanese pounds per U.S. dollar in January 2018, from the current exchange rate of 6.7 pounds, Reuters wrote.
EAST AND WEST AFRICA
* Liberians headed to the polls yesterday to elect a new president in a run-off between former soccer player George Weah and Vice President Joseph Boakai, after the election was delayed to probe allegations of fraud and irregularities during the first round held Oct. 10, BBC News reported. Results are expected this week.
* The Ghanaian National Insurance Commission said the process to shutter an under-capitalized insurance firm has already begun, Joy Business reported. Its operations are set to shut down by December-end for its inability to meet the existing minimum capital requirement of 15 million Ghanaian cedi.
CENTRAL AND SOUTHERN AFRICA
* Mozambique's central bank cut the key lending rate, or MIMO, by 150 basis points to 19.5%. The standing lending facility and the standing deposit facility were also reduced by 150 basis points to 20.5% and 14.0%, respectively.
* Portugal-based Millennium BCP is no longer a strategic investment priority for Sonangol following the replacement of Isabel dos Santos as the Angolan state oil company's CEO, according to Jornal de Negócios.
* Chadian President Idriss Déby appointed Abdoulaye Sabre Fadoul as finance minister, among other appointments, Reuters wrote. Fadoul has held the post on an interim basis since last month following the dismissal of former Finance Minister Christian Georges Diguimbaye.
IN OTHER PARTS OF THE WORLD
Asia-Pacific: MUFG to buy stake in Bank Danamon; Australia pushes for banks' 'living wills'
Latin America: Regulator takes control of Bancrédito; Banco do Nordeste in lending probe
North America: TPG settles SEC case for $12.8M; Dyal Capital buys minority stake in credit biz
North America Insurance: S&P says tax bill may lower insurers capital adequacy; CMS renews Texas program
Leo Magno, Henni Abdelghani, Sophie Davies and Helen Popper contributed to this report.
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