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KFH Wins STP Award 2016 from Citi Bank

citibank

Award Affirms KFH’s Excellence in Utilizing Technology. Kuwait Finance House (KFH) won STP award 2016 from Citi Bank, as the best financial institution in the Middle East to deal with Citi Bank, yet the bank that has achieved the highest rates in the award-winning criteria. STP is an award for “Straight Through Processing” without manual intervention for remittances to Citi. …

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UPDATE 2-IMF agrees $12 billion 3-year funding deal with Egypt

imf

IMF loans to help budget deficit and dollar shortage Deal still to be approved by IMF executive committee Markets cautious, pending implementation By Lin Noueihed and Ahmed Aboulenein CAIRO, Aug 11 (Reuters) – The International Monetary Fund has agreed in principle to grant Egypt a $12 billion three-year loan facility, to support a government reform programme aimed at plugging a …

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Doha bank achieves strong performance ratios

Finance African Brains Wikimedia

His Excellency Sheikh Fahad Bin Mohammad Bin Jabor Al-Thani, Chairman of the Board of Directors of Doha Bank, announced Doha Bank’s financial results for the first half of 2016. Net profit for the first half of 2016 recorded QAR 708 million despite the sharp decline in the oil prices in the Gulf area and the challenges that face the financial …

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Digital Payments to Generate USD 2 Trillion in Revenue by 2020

gitex

Half of EMEA Banks to Hire a Chief Digital Officer in Next Four Years: IDC; FinTech Experts James Barrese and Andres Wolberg-Stok to Highlight Non-Traditional Banking at GITEX Technology Week 2016 Dubai, United Arab Emirates – GITEX Technology Week 2016 will welcome an exceptional line up of finance and technology experts, including James Barrese, formally CTO of PayPal, and Andres …

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FGB and NBAD boards recommend merger to create the largest bank in the Middle East and North Africa region

Finance African Brains Wikimedia

Creates the largest bank in the MENA region by assets1 with total assets of AED642 billion (US$175 billion)2 Leading position in the UAE both in terms of loan and deposit market shares Presence in 19 countries Complementary businesses to leverage on strengths in consumer and wholesale banking Content on the proposed merger: www.bankfortheUAE.com Creates the largest bank in the MENA …

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EAB Appoints New Head of Private Banking

Finance African Brains Wikimedia

Fadi Halout has joined Europe Arab Bank (part of the Arab Bank Group) as Head of Private Banking and a member of the Bank’s Executive Committee. Europe Arab Bank has Private Banking centres in London, where the Bank has its Head Office, plus Paris and Cannes, providing a range of personal banking services to high net worth clients from the …

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Fitch Affirms Islamic Development Bank at ‘AAA’; Outlook Stable

Finance African Brains Wikimedia

Fitch Ratings has affirmed the Islamic Development Bank’s (IsDB) Long-Term Issuer Default Rating (IDR) at ‘AAA’ with a Stable Outlook. The Short-Term IDR has been affirmed at ‘F1+’. The trust certificates issued by IDB Trust Services Ltd with the benefit of a guarantee provided by IsDB have also been affirmed at ‘AAA’. The ratings reflect the intrinsic strengths of IsDB, …

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What will be the Uber of the banking sector?

A woman registers her palm on a PulseWallet, a point-of-purchase device, during the 2014 International Consumer Electronics Show (CES) in Las Vegas, Nevada, January 8, 2014. REUTERS/Steve Marcus
Reuters/Steve Marcus

Disruptive technology is the big buzzword in the business world right now. TripAdvisor has revolutionised the travel sector, Airbnb has opened up the room renting market and Uber has turned the taxi business on its head. None of these companies own major assets or infrastructure, but they have changed how their industries work and rewarded their inventors with sizeable fortunes, …

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AlHuda CIBE introduces complimentary Advisory Services during the month of Ramadan

al huda

Free Information and Services will be provided on Islamic Banking & Finance, Zakat, and Halal Food in the Holy month of Ramadan. Lahore – In the Holy month of Ramadan, AlHuda Centre of Islamic Banking & Economics (CIBE) initiates a special free desk to deliver free Shariah advisory and consultancy services internationally. This desk includes an expert and renowned panel …

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MoF organises workshop for the launch of the ‘HH Sheikh Mohammed bin Rashid Al Maktoum Fund to Finance Innovation’ pilot phase

HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE

As part of its commitment to support the federal government’s directives with regards to innovation, the Ministry of Finance ( MoF ), organised earlier this month, a workshop for the launch of ‘HH Sheikh Mohammed bin Rashid Al Maktoum Fund to Finance Innovation’ pilot phase, at its premises in Dubai. The fund was announced during ‘UAE Innovation Week’ and is …

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