Islamic banks’ ability to withstand the global downturn has fuelled an expansion of Islamic finance around the world. But most institutions are taking a measured approach to growth. Writer Joseph DiVanna.

Even with the creation of Continuous Linked Settlement Bank (CLS), foreign exchange settlement risk persists, with a large number of currencies remaining outside the scope of the industry utility. How much risk persists, and how can it be eliminated? Writer Frances Maguire.

With company insolvencies set to hit epidemic proportions in 2009, all eyes are on corporate treasurers to guide their businesses through the turmoil. Writer Charlie Corbett.

Not every banker is staring into the abyss of 2009 with frozen horror; those involved in transaction services realise their skills are needed more than ever. The heads of transaction banking across some of the industry’s major players offer their predictions for 2009. Writer Charlie Corbett.

The AIG and Lehman debacles have convinced regulators globally that a central clearing counterparty is critical for the future of the credit default swaps market. But many market participants feel that the idea is flawed. Writer Michelle Price.

More liquid than most derivative markets, foreign exchange products still suffered in the turbulence of late 2008. But hedging exchange rate risk has never looked more important, creating growth opportunities for banks that can stay in the game. Writer Philip Alexander.

Lovells’ restructuring of Cheyne Capital’s $7bn structured investment vehicle set an example for other troubled SIVs. Writer Edward Russell-Walling.

BNP Paribas’ €1.5bn, five-year covered bond has given the market a welcome fillip, but was only made possible thanks to the bank’s five-year strategy ­of diversifying its funding as broadly as possible.

Mexico’s equity markets have succumbed to global malaise and recovery will depend less on commodity prices, as is the case for most of Latin America, and more on improved debt markets and a US recovery. Writer John Rumsey.

The former UBS banker talks about his solo venture to create BTG, a Brazilian trading house-cum-merchant bank based in São Paulo. Writer John Rumsey.