Close on the heels of launching the ‘SWIFT gpi’ payment system in February this year, leading Islamic bank QIIB has launched the third phase of the project, which facilitates confirmation of incoming payments.

Poland has smashed an international fraudster gang after arresting 48 Taiwanese and two Poles who extorted some €1.8mn ($2.3mn) in a year from Chinese nationals, prosecutors said on Thursday.

Sri Lanka on Thursday announced plans to lift six-decade-old restrictions on foreign exchange flows and allow free transfer of money in and out of the island, to encourage investment in the struggling economy.