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Morning Briefing

Morning Briefing

In what will be one of the largest international takeovers by a Persian Gulf lender, Qatar National Bank (QNB) has said it will buy National Bank of Greece's Turkish subsidiary, Finansbank, for $2.94 billion.

QNB said it will purchase 99.81 percent of Finansbank and will finance the acquisition with its own funds. The transaction is expected to close in the first half of 2016.

American Express has acted on a favourable court ruling it received last week by reinstating a policy that prohibits merchants from steering customers towards cheaper forms of payment. Amex is enforcing the anti-steering provisions in its merchant contracts after a federal appeals court overturned a ban on them. The ban was imposed when a lower court ruled that the provisions were anti-competitive.

P2P lending is now the third most popular investment option in China for sums of less than 500,000 yuan ($77,150), according to a survey by P2P lender iqianjin.com and AdMaster, a marketing data technology company.

The survey found that 38 percent of 5,000 people polled had invested in products on P2P lending platforms, putting P2P ahead of bank deposits (37 percent) and stocks (35 percent).

Nigeria's central bank has told the country's commercial banks not to let their customers use their debit and credit cards abroad, according to the BBC. The measure, aimed at stemming the flow of foreign exchange out of Nigeria, is to take effect on 1 January.

It will also affect the ability of Nigerians to conduct e-commerce transactions with foreign online retailers.

'RBI keeping close watch on systemically important NBFCs'
Regulator delays launch of EU bank bonus limits
Indonesia banking: State banks test pooled ATMs
Jailed ex-Anglo official walks free after appeal

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