Photo credits
The photographs on Boards and Capital come from Wikimedia Commons, each under the licence listed with it below. Where an article shows a photograph in full, its credit is printed under it. Cover cards and logos are our own; the photographs in articles and in our house advertisements are credited here.
The Government Building of Ukraine on Hrushevskoho Street, Kyiv, 2021
- Author
- KyivMax
- Licence
- CC BY-SA 4.0
- Source
- Кабінет Міністрів України 02.jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Ukraine seeks three independent directors for gas transmission operator
The Mponeng gold mine in the West Rand, Gauteng, South Africa, 2017
- Author
- JMK
- Licence
- CC BY-SA 4.0
- Source
- Mponeng-goudmyn, Merafong City-pm, Wesrand-dm, a.jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- DRDGOLD names Charmel Flemming audit chair as Johan Holtzhausen leaves; Harmony Gold and AngloGold Ashanti add independent directors in three weeks
The King Abdullah Financial District skyline at dusk, Riyadh, 2022
- Author
- Ahmed
- Licence
- CC BY-SA 4.0
- Source
- King Abdullah Financial District 184719.jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Saudi shareholders can now remove directors under amended CMA rules; The Week Ahead: Georgia, Türkiye and Kazakhstan set rates as Saudi IPO consultation ends
The Ministry of Public Finance on Apolodor Street, Bucharest, 2017
- Author
- Rakoon
- Licence
- CC0
- Source
- 20171003 105800 Ministerul Finanţelor Publice.jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- S&P keeps Romania at BBB- with a negative outlook in place for 20 months; Romania lifts retail Fidelis coupons to 7.75 per cent as euro sales rise
Electric metro trains in the Khojasan depot of the Baku Metro, Azerbaijan, 2022
- Author
- Press Service of the President of the Republic of Azerbaijan
- Licence
- CC BY 4.0
- Source
- Khojasan depot of Baku Metro - 81-765-B trains.jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- ADB approves $302 million Baku Metro signalling loan with AIIB co-financing
The Nile and the Cairo skyline in evening haze, Egypt, 2007
- Author
- Vyacheslav Argenberg
- Licence
- CC BY 4.0
- Source
- Cairo skyline, Panoramic view, Egypt.jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Egypt licenses EGP 1 billion fund to buy equity in distressed factories; Egypt's central bank holds rates as annual inflation eases to 13.9 per cent; Egypt's FRA approves 12 firms, including two custodians and a SPAC investor
Our Lady of the Purification parish church in Fresnillo, Mexico, 2009
- Author
- Eneas De Troya
- Licence
- CC BY 2.0
- Source
- Parroquia de la Purificacion Fresnillo Zacatecas.jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Fresnillo names Rodrigo Sandoval CFO as Mario Arreguín retires
A palm-lined plaza among office towers in the King Abdullah Financial District, Riyadh, 2022
- Author
- Ahmed
- Licence
- CC BY 4.0
- Source
- King Abdullah Financial District (122).jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Six Saudi IPO approvals expire with no prospectus; Saudi regulator clears SAR 680 million rights issue for Almasane Alkobra
The Central Bank of Azerbaijan building among high-rises along a city avenue, 2026
- Author
- Press Service of the President of the Republic of Azerbaijan
- Licence
- CC BY 4.0
- Source
- Центральный банк Азербайджана Июнь 2026.jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Azerbaijan amends three bank credit-risk regulations, effective 9 November; Azerbaijan's central bank widens rate corridor, holds refinancing rate at 6.5%
The European Bank for Reconstruction and Development headquarters, seen across Exchange Square, London, 2015
- Author
- EBRD/Dermot Doorly
- Licence
- CC BY-SA 4.0
- Source
- European Bank for Reconstruction and Development Headquarters (EBRD), London, United Kingdom 03.jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- EBRD buys 5 per cent of AikGroup for up to €64 million, with a board seat
Tea growing in Rize, north-eastern Türkiye, 2006
- Author
- sly06
- Licence
- CC BY 2.0
- Source
- Tea Rize.jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- IFC lends €100 million to Turkish food group Doğuş Çay over eight years
Headquarters of the US Federal Reserve Board in Washington, DC, 2011
- Author
- Federalreserve
- Licence
- Public domain
- Source
- Eccles Building (26088200676).jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Four central banks set rates this week as ADIB's rights cut-off nears; Fed minutes point to another US rate rise by year-end; Kuwait holds discount rate at 3.5% as the Fed lifts US rates to 3.75% to 4%
A boardroom table commissioned by Frank Pick, shown at the Acton Depot open day, London, 2012
- Author
- James Petts from London, England
- Licence
- CC BY-SA 2.0
- Source
- Boardroom table commissioned by Frank Pick - Flickr - James E. Petts.jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Vale accuses former vice-chairman of board leak and threatens legal action
New buildings along the Ishim River embankment in Astana, Kazakhstan, 2007
- Author
- Vmenkov
- Licence
- CC BY-SA 3.0
- Source
- Astana-Ishim-River-embankment-7797.jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- AIFC rules set seven binding board principles and a comply-or-explain code
The quarry of Ferrexpo Poltava Mining, Ukraine, 2021
- Author
- В.С.Білецький
- Licence
- Public domain
- Source
- Quarry of Ferrexpo Poltava Mining.jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Ferrexpo shareholders back delayed 2025 accounts by 99.68 per cent
The Hungarian National Bank building in Budapest, seen across a park lawn, 2009
- Author
- Egrian
- Licence
- Public domain
- Source
- Magyar Nemzeti Bank épületének nyugati homlokzata. - 2009, Budapest.jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Hungary keeps bank capital buffers at 1 per cent as cyclical risk edges up; Hungary's central bank lowers inflation target to 2.5% from 2028 and holds rate at 5.5%
The Mondi Business Paper SCP mill, 2007
- Author
- Branislav Turčina
- Licence
- CC BY 3.0
- Source
- Mondi SCP.jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Mondi links 21.6 per cent pre-emption dissent to South African holders
Tables and chairs in a boardroom at 86 Chambers Street, New York, 2016
- Author
- Breather
- Licence
- CC0
- Source
- Tables in a boardroom (Unsplash).jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Tenure limits for independent directors vary by market; How we report: every appointment carries its notice, status and effective date; Who writes and edits Boards and Capital
The Istanbul Stock Exchange building, 2007
- Author
- Thomas Steiner
- Licence
- CC BY-SA 2.5
- Source
- Istanbul-stock.jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Türkiye's regulator vets independent directors before shareholders vote
King Abdullah Financial District towers beyond a highway interchange, Riyadh, 2023
- Author
- Ahmed
- Licence
- CC BY-SA 4.0
- Source
- King Abdullah Financial District 20230411 114859.jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Saudi regulator tightens audit rules, giving audit committees its findings; Saudi regulator proposes tighter IPO book-building, underwriting and forecast rules
A long boardroom table and chairs beside floor-to-ceiling windows, 2016
- Author
- Benjamin Child
- Licence
- CC0
- Source
- Elegant boardroom (Unsplash).jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- HDFC Bank names ICICI Life chief Anup Bagchi as CEO after RBI approval; CEECAT Capital's third fund closes first round at €135 million with EIF and EBRD anchors; Appointments Register: 33 CEO, CFO and chair changes at listed companies, 1 to 17 October
The Hungarian Ministry of Finance building, 2024
- Author
- Elekes Andor
- Licence
- CC BY 4.0
- Source
- Ministry of Finance (Hungary).jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Hungary's debt agency lifts 2026 net financing need to HUF 7,110 billion
Office towers of the Almaty Financial District, Kazakhstan, in 2015
- Author
- Alexandru Panoiu from Bucharest, Romania
- Licence
- CC BY 2.0
- Source
- Almaty Financial District (AP4M2342 1PS) (29689498316).jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- J.P. Morgan puts Kazakhstan's local-currency bonds on GBI-EM watch list; Kazakhstan cuts base rate to 16.25% as inflation moves into single digits
Karatau uranium mine complex on the steppe of Kazakhstan at sunset, 2019
- Author
- NAC Kazatomprom JSC
- Licence
- CC BY-SA 4.0
- Source
- Kazatomprom Karatau Mine.jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Kazatomprom shareholders fail to approve Uranium One deal on abstentions
Buildings along the West Bay skyline, Doha, Qatar, 2026
- Author
- P. Hughes
- Licence
- CC BY 4.0
- Source
- Doha - West Bay Skyline 04.jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- QIB nine-month profit rises 2 per cent, financing assets grow 21.9 per cent; QNB's nine-month net profit rises 4% to QAR 13.3bn, or 8% before hyperinflation; Dandy's Qatar IPO of a 40% stake at QAR 5.01 a share closes on 20 October
Atrium of the Astana International Exchange at the AIFC, Astana, 2021
- Author
- Lauraqqqqq
- Licence
- CC BY-SA 4.0
- Source
- Astana International Exchange.jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- AIX posts record $562 million monthly turnover, 75 per cent in four lines; What the AIFC rules require of a board, part 1: the duties every director owes
An Airbus A321neo for Air Astana being towed at Hamburg-Finkenwerder airfield, Germany, 2026
- Author
- MarcelX42
- Licence
- CC BY-SA 4.0
- Source
- Hamburg-Finkenwerder Airport Air Astana Airbus A321-271NX EI-KDK (DSC04148).jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Air Astana publishes amended governance code after shareholder vote
The İşbank headquarters towers, 2006
- Author
- Dosseman
- Licence
- CC BY-SA 4.0
- Source
- Ish Bank Buildings 0717.jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Foreign holdings of Turkish securities fall to $143.2 billion in four weeks; İşbank names Cahit Çınar chief executive as Hakan Aran moves to Şişecam
The Nasdaq MarketSite in Times Square, New York, 2021
- Author
- ajay_suresh
- Licence
- CC BY 2.0
- Source
- Nasdaq MarketSite (51494550508).jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Freedom Holding re-elects two directors after CFO change, Kelimbetov exit
Night view of the Esil district of Astana with the Bayterek tower, 2024
- Author
- Matti Blume
- Licence
- CC BY-SA 4.0
- Source
- Night at Esil District, Astana (P1190721).jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Samruk-Kazyna and Oman Investment Authority plan $150 million joint fund; Kazakh issuers list 13.8 billion yuan of bonds, led by sovereign Panda deal; AIFC regulator AFSA appoints ex-ING executive Saida Djarbolova to its board
The Warsaw Stock Exchange building at 4 Książęca Street, Warsaw, 2020
- Author
- Adrian Grycuk
- Licence
- CC BY-SA 3.0 pl
- Source
- Giełda Papierów Wartościowych w Warszawie ul. Książęca 2020.jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Warsaw exchange moves all trading to in-house WATS from NYSE-built UTP; Warsaw exchange adds KredoBank chief Jakub Karnowski to supervisory board; Warsaw lists HANetf's 2x bitcoin notes, taking its exchange-traded products to 48
A pole-mounted distribution transformer, 2016
- Author
- ZngZng
- Licence
- CC BY-SA 4.0
- Source
- Pole transformer 2.jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- ADB signs $200 million results-based loan for Uzbek power distribution; EBRD lends up to €229 million across three Kazakh loans in September
The Capital Markets Board (SPK) building in Ankara, 2013
- Author
- Vikiçizer
- Licence
- CC BY-SA 3.0
- Source
- Sermayepiyasasıkurulu.jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Türkiye's fund investigation rests on a specific article for each step
PKP Cargo's head office at Grójecka Street 17, Warsaw, 2019
- Author
- Adrian Grycuk
- Licence
- CC BY-SA 3.0 pl
- Source
- PKP Cargo ul. Grójecka 17.jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Courts and a regulator took control of Destek and PKP Cargo from boards
Wind turbines at the BARES wind farm, 2020
- Author
- Enerjisa Uretim
- Licence
- CC BY-SA 4.0
- Source
- BARES.jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- EBRD lends Enerjisa Üretim up to $150 million to refinance short-term debt
The bank building at Na Příkopě 33 in Prague's Old Town, 2012
- Author
- Michal Kmínek
- Licence
- CC BY-SA 3.0
- Source
- Banka (Staré Město), Praha 1, Na Příkopě, Celetná 33, Staré Město.JPG, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Etienne Loulergue leaves Komerční banka board as CEO Jan Juchelka steps in
Rear facade of the Central Bank of the Republic of Türkiye building in Ankara, 2014
- Author
- Vikiçizer
- Licence
- CC BY-SA 3.0
- Source
- TC Merkez Bankası arka cephe.JPG, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Türkiye's central bank cuts collateral haircuts and eases reserve rules; Türkiye's central bank holds policy rate at 37% for a fifth straight meeting
The West Bay skyline in Doha, Qatar, 2013
- Author
- Gregory Hawken Kramer
- Licence
- CC BY-SA 4.0
- Source
- West Bay Skyline, Doha, State of Qatar.jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Dukhan Bank's nine-month profit holds at QAR 1.19bn as impairments rise 33%; AlRayan Bank names ex-NBB chief Usman Ahmed group CEO as Fahad Al Khalifa steps down
The National Bank of Ukraine building in Kyiv, built as the Kyiv office of the State Bank
- Author
- Musia-97
- Licence
- CC BY-SA 3.0
- Source
- Будинок Київської контори Державного банку.JPG, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Ukraine's central bank lifts key rate to 16% as inflation accelerates to 10%
Kashkadarya regional branch of the Central Bank of Uzbekistan, 2025
- Author
- MirfayzbekAbdullayev
- Licence
- CC0
- Source
- Kashkadarya Regional branch of Central Bank Uzbekistan (CBU).jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Uzbekistan's central bank holds policy rate at 14% and reworks FX rate-setting; Real policy rates in six emerging markets range from 1.0 to 7.6 percentage points
A photovoltaic power station in the United States, 2017
- Author
- Chris Allan, U.S. Department of Energy from United States
- Licence
- Public domain
- Source
- A photovoltaic power station in the United States (36130544874).jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Actis and Mubadala-backed Rezolv signs €561 million, 14-lender loan for Dama Solar
A Halyk Bank branch office, 2015
- Author
- Uralsk Review
- Licence
- CC BY 3.0
- Source
- Отделение Halyk Bank - panoramio.jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Halyk Bank shareholders back Islamic banking licence bid and sharia council
The television tower in Almaty, Kazakhstan, seen from downtown, 2012
- Author
- Michael Grau
- Licence
- CC BY-SA 3.0
- Source
- TV-Turm Almaty - 3.jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- KASE equity value falls 4.4% in tenge in September but rises 1.1% in dollars; Kazakhstan rate preview: committee median implies 25 more basis points by year-end
The Nurbank office in Karaganda, Kazakhstan, 2009
- Author
- Ds02006
- Licence
- Public domain
- Source
- KGFNurbank.JPG, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Nurbank reappoints Alexey Mazhuga as acting management board chairman from 20 October
The Grand National Assembly of Türkiye building, 2023
- Author
- Modern primat
- Licence
- CC BY-SA 4.0
- Source
- TBMM meclis binası, asfalt yol.jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Turkish committee backs interim payments for investors in 131 liquidated funds
Old Tbilisi and Mount Mtatsminda with its television tower, Georgia, 2011
- Author
- G.N.
- Licence
- CC BY-SA 3.0
- Source
- Dzveli Tbilisi, Tbilisi, Georgia - panoramio (10).jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Georgia's central bank holds rate at 8.25% with inflation at 5.6%
The Istanbul Financial Centre, 2024
- Author
- Ail Subway
- Licence
- CC BY-SA 4.0
- Source
- Finans Merkezi.jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Issuance Calendar: ADIB rights, Turkish Treasury auctions and a pipeline of bank capital
The Almaty office of Kazakhstan Temir Zholy (KTZ), the national railway company, 2024
- Author
- Matti Blume
- Licence
- CC BY-SA 4.0
- Source
- QTZ Office, Almaty (P1180231).jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Kazakhstan Temir Zholy's $1bn Eurobonds to start trading on KASE on 19 October
Alaeddin Mosque and the modern skyline seen from Ankara Castle, Türkiye, 2026
- Author
- Tolga Bakı
- Licence
- CC BY 4.0
- Source
- Ankara Castle Panorama Alaeddin Mosque City View 2026.jpg, Wikimedia Commons
- Changes
- Cropped, resized and toned
- Shown in
- Turkish regulator adds a third Tera trading ban as the group's directors resign
An empty conference room with a long table and grey chairs
- Author
- Pexels (Pixabay)
- Licence
- CC0
- Source
- Chairs-2181923.jpg, Wikimedia Commons
- Changes
- Cropped and resized
- Shown in
- Our house advertisements across the site, and the Advertise page
.jpg){kind=link}
,_London,_United_Kingdom_03.jpg){kind=link}
.jpg){kind=link}
.jpg){kind=link}
.jpg){kind=link}
.jpg){kind=link}
_(29689498316).jpg){kind=link}
.jpg){kind=link}
.jpg){kind=link}
.jpg){kind=link}
,_Praha_1,_Na_P%C5%99%C3%ADkop%C4%9B,_Celetn%C3%A1_33,_Star%C3%A9_M%C4%9Bsto.JPG){kind=link}
.jpg){kind=link}
.jpg){kind=link}
.jpg){kind=link}
.jpg){kind=link}
