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Tag Archives: Banking

High costs and data skills shortage the main barriers to AI in banking: Emirates NBD official

Consultancy firm PwC predicts potential contribution of AI to the economic growth of the UAE to stand at 13.6 percent by year 2030 Artificial Intelligence (AI) is being integrated into many services already provided by banks in the United Arab Emirates, but its high cost and a shortage of specialist data scientists could preclude a more widespread use, according to …

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Qatar’s Barwa Bank, International Bank of Qatar agree to merge

The unlisted banks will work to complete the necessary steps for the merger, including obtaining regulatory approval, before the end of the year Qatari lenders Barwa Bank and the International Bank of Qatar (IQB) have reached a final merger agreement, creating a combined group with total assets of 80 billion riyals ($22 billion), the banks said on Tuesday. The unlisted …

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RAKBANK partners with Etisalat to offer business banking solutions at Hello Business Hub

RAKBANK will provide Business Banking solutions at preferential terms to SMBs who visit Etisalat’s specialized business hub. RAKBANK partners with Etisalat to offer business banking solutions at Hello Business Hub United Arab Emirates – The National Bank of Ras Al Khaimah (RAKBANK) today announced a strategic partnership with Etisalat’s “Hello Business Hub”, a one-stop location that enables small and medium …

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Middle East jobs growth was strongest in the legal and banking and financial services sector

Middle East jobs growth was strongest in the legal and banking and financial services sector. Job vacancies for professionals across the Middle East increased by 5.5 per cent between the second and third quarter of 2017, the latest Robert Walters Middle East Jobs Index has revealed. Jobs growth was strongest in the legal and banking and financial services sector at …

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Egypt strong, Saudi bolstered by $12.5bln sovereign bond issue

Egypt’s stock index climbed on Thursday ahead of a central bank meeting on monetary policy later in the day, while the banking sector helped carry the Saudi index higher after news that the government had priced a $12.5 billion international bond issue. The Egyptian central bank was likely to keep key interest rates unchanged at its meeting, a Reuters poll …

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Bahrain-based GIB gains retail banking licence for digital venture

Gulf International Bank (GIB) said on Wednesday it had been granted a retail banking licence in Bahrain by the kingdom’s central bank for its digital venture called Meem. GIB is licenced by Bahrain’s central bank, headquartered in Bahrain and owned by the governments of the six Gulf Cooperation Council countries, with Saudi Arabia’s Public Investment Fund the principle shareholder with …

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Launch of Banking App for the Apple Watch by Saudi Hollandi Bank

SHB’s Apple Watch App will provide access to account balances, conduct bill pay transactions, and receive real-time notifications of banking activity right on customer’s wrist. Saudi Hollandi Bank, announced the launch of a banking app designed for the Apple Watch, a first in the Kingdom amongst transactional banking apps for a wearable device. The SHB Apple Watch app will enable …

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Middle East Region’s Largest Banking Technology Summit Will Get Underway In September

A month from now, the largest banking technology and innovation summit gets underway in the city. Organized by Expotrade, the sixth edition of the Middle East Banking Innovation Summit will be held on 5th and 6th September 2016 at Palazzo Versace, Dubai. Focusing on the latest banking techniques and innovations impacting the Middle East region’s banking sector, the summit will …

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5th Annual Middle East Banking Innovation Summit begins today

The 5th Annual Middle East Banking Innovation Summit 2015, with Visa as the Title sponsor got underway in the city today. Organized by global conference producers, Expotrade, the two-day summit, in its fifth year now, is widely regarded as the region’s most distinguished banking technology conference. As a one-of-its kind summit in the region, it provides a cross-industry perspective on …

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Abdullah Al Ghurair pledges one third of his assets to launch Abdullah Al Ghurair Education Foundation

Initial budget of AED4.2 billion over the next 10 years. One of the largest privately funded philanthropic education initiatives in the Arab world, devoted to equipping Arab youth with the knowledge and skills they need to fulfill their promise as the future leaders of the region. Initiative to benefit more than 15,000 university gifted students from less privileged backgrounds in …

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