Financial Reform – News Analysis India https://newsanalysisindia.com The news you need to know, explained Fri, 26 Sep 2025 00:00:00 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 Yunus Calls for Return of Stolen Funds from Poor Nations and Global Regulations to Prevent Theft https://newsanalysisindia.com/world/yunus-calls-for-return-of-stolen-funds-from-poor-nations-and-global-regulations-to-prevent-theft/ Fri, 26 Sep 2025 00:00:00 +0000 http://newsanalysisindia.local/yunus-calls-for-return-of-stolen-funds-from-poor-nations-and-global-regulations-to-prevent-theft/ Mohammad Yunus, the head of the interim government of Bangladesh, has urged wealthy nations to establish a system to prevent the theft of funds from impoverished countries and facilitate their return. He emphasized the current financial system’s failure to curb the outflow of money from developing nations. Yunus made these remarks at the 80th session of the United Nations General Assembly (UNGA) in New York.

Yunus stated at the UNGA that numerous developed countries and financial institutions aid in concealing money stolen from poor nations. He appealed to all such countries to return the stolen funds, emphasizing that the money belongs to farmers, laborers, and ordinary citizens. Over the past 15 years, billions of dollars have been siphoned off through corruption.

Yunus highlighted that recovering this money is a top priority for the government, but it is challenging without the cooperation of other nations. He noted that the public movement in August 2024 marked a new beginning for democracy. The commitment to reforms will continue regardless of who wins the upcoming elections. Elections in Bangladesh are scheduled to be held by February of the following year.

He also addressed the Rohingya crisis, stating that his government is strengthening labor rights and enacting laws related to forcibly disappeared persons. He also appealed for the safety of migrant workers. Regarding the Rohingya crisis, Yunus warned that the violence in Myanmar threatens the entire region. He demanded equal rights for the Rohingya and called for international pressure on Myanmar.

Yunus expressed sorrow over the deaths in Gaza, describing the deaths of children and the destruction of hospitals as a living genocide. He demanded a two-state solution that includes an independent Palestine with East Jerusalem as its capital.

]]> Iran to Remove Four Zeros from Rial: A Currency Redenomination Plan https://newsanalysisindia.com/world/iran-to-remove-four-zeros-from-rial-a-currency-redenomination-plan/ Tue, 05 Aug 2025 00:00:00 +0000 http://newsanalysisindia.local/iran-to-remove-four-zeros-from-rial-a-currency-redenomination-plan/ Iran is set to remove four zeros from its currency, the rial, in a move approved by the Economic Commission of Iran’s Parliament. This plan aims to combat persistent inflation and streamline financial transactions. The new currency will retain the name ‘rial,’ with one unit equaling 10,000 of the current rials, further divided into 100 gherans. The primary goal is to simplify everyday financial calculations and reduce the need to express large numbers in millions or billions. For instance, an exchange rate of 920,000 rials per U.S. dollar would become 92 new rials per dollar, making calculations less complex. The redenomination also seeks to lower the costs associated with printing banknotes. This decision comes amid economic challenges and currency devaluation, particularly following U.S. sanctions in 2018 after the collapse of the nuclear agreement.

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