Articles on Financial services

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Australia enjoys a privileged relationship with most economies in the Asian region because of the integrated global value chain. Image sourced from www.shutterstock.com

Increasing Australia’s edge through Asian value chains

Australia is facing increasingly stiff competition from developed economies all vying for a share of the growth pie in the East and South Asian region, where Australia has integrated its value chain activities…
A former mortgage broker - who is now facing fraud charges - has blown the whistle on predatory lending practices in Australia’s financial services industry. Image from www.shutterstock.com

There are predators in our own backyard, but where are our financial watchdogs?

The level of sub-prime mortgages in Australia may be far in advance of what was previously assumed and provided for by banks. The story was broken on the ABC, and covered elsewhere. The revelations centred…
To ensure a sound financial system, policymakers should balance the twin objectives of stability and competition.

Is competition crucial to the health of the financial sector? You can bank on it

Reactions to my call this week for another inquiry into Australia’s financial system have been mixed. Most commentators seem to accept that there’s logic in having another inquiry, even if some think that…
Banks behaving badly: ensuring banks’ sustainability reports are accurate and credible will go some way in restoring public confidence. AAP

To be good corporate citizens, banks must improve their sustainability reporting

“Events over the past couple of years have raised profound questions about the ways in which banks and businesses contribute to society. For both to play their full part, they must restore trust and become…
HSBC chief executive officer Irene Dorner testifies before the US Senate about allegations of money laundering within HSBC. AAP

HSBC’s money laundering scandal is more than just risky business practice

Recent news that HSBC executives admitted to allowing Iran, terrorists and drug dealers to launder nearly USD$16 billion over a six-year period would make earth underneath you shake. How is that the bank’s…
Good financial inclusion measures will protect consumers from predatory lenders. Flickr/rinkjustice

Giving credit where it’s due will ensure financial inclusion

The Australian government has begun to focus on the issue of financial inclusion, as reflected by an allocation of $60.6 million in this year’s federal budget. This follows earlier government support for…

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