Abu Dhabi (April 3rd, 2013) – The National Bank of Abu Dhabi P.J.S.C (NBAD)  today announced the appointment of Alex Thursby as Group Chief Executive with effect from 1st July 2013 in succession to Michael H. Tomalin who has previously announced his retirement. Michael Tomalin will have served as NBAD’s Group Chief Executive for 14 years and will stay on …

Abu Dhabi (March 26th, 2013) – The National Bank of Abu Dhabi (NBAD), has received the approvals from the regulatory authorities to repay the remaining amount of AED3 billion to the UAE Ministry of Finance. NBAD had received an amount of AED5.6 billion as part of the UAE Government’s support to the banking sector during the global financial crisis. In …

Al Ansari Exchange unveils rewards scheme for money transfers to Bangladesh  Remittances to Bangladesh give customers chance to win gold bars, airline tickets from Air Arabia to Bangladesh, and National Bonds cash vouchers March 24, 2013 Al Ansari Exchange, a UAE-based foreign exchange and worldwide money transfer company, has announced the launch of a new rewards program for customers transmitting …

The Power of Electronic Payments Stimulates Economic Growth in Middle East & Africa Debit & credit card usage added approximately US$18 billion to the economies in Middle East & Africa between 2008 & 2012: study Card usage adds US$4.2 billion to UAE’s GDP and US$ 4.7 billion to GDP of KSA in the four-year period Dubai, March 24, 2013 – …

 Research based “Distinguished Provider” category launched Pennington, NJ, March 2013 – FImetrix, LLC, a leading market research firm for Financial Institutions, today announced the launch of a new “Distinguished Provider” category to recognize leading performers and enable clients to better position themselves in the complex Global Transaction Services landscape. The new recognition category was created from interviews with Senior Level …

NBAD Confirms Position among World’s 50 Safest Banks Retains Middle East Safest Bank title Abu Dhabi (March 19, 2013) – The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, retains its title as the safest bank in Middle East and confirmed its standing in the Global Finance’s ranking of the World’s 50 Safest Banks for …

EastNets launches en.SafeWatch FATCA to enable foreign financial institutions to comply with new US tax evasion laws  en.SafeWatch FATCA powered by proven technology used in EastNets’ suite of anti-money laundering solution March 19, 2013 EastNets, a leading global provider of compliance and payments solutions, has announced the recent launch of EastNets en.SafeWatch FATCA, a new specialised solution that enables foreign …

The Quarterly ICIEC’s Newsletter – (issue No.22) covering the period of the 1st Quarter of 1434H / 2013.  

EGM approves convertible bond and increase size of 3 existing programmes NBAD approves distribution of  35% cash dividends and 10% bonus shares Abu Dhabi (March 12th, 2013) – The National Bank of Abu Dhabi’s (NBAD) annual general meeting (AGM), held today in Abu Dhabi, approved the distribution of cash dividend of 35% and stock dividend of 10% for the financial …

First time a Visa sub-regional risk executive council has taken place with key Middle East North Africa (MENA) banking risk executives and law enforcement officials  Group to meet with Visa to share latest information and trends in payment system risks, fraud and security Ellen Richey, Visa’s Chief Enterprise Risk Officer, to provide keynote speech on Visa’s global payment system risk …

Standard Chartered reports 2012 income, profit and dividend growth Strong momentum driven by client-focused strategy and business diversity 2012 Highlights: Income grows 8% to US$19.07 billion Wholesale Banking income up 9% to US$11.78bn Consumer Banking income up 6% to US$7.20bn 26 markets delivered over $100m of income; 25 markets with income growth of at least 10 per cent Highly liquid …

For 2nd Year in a row NBAD Named Best Asset Management  House in Middle East Abu Dhabi/Cairo (March 7, 2012) – The National Bank of Abu Dhabi (NBAD), The Number One Bank in the UAE, has been named the Best Asset Management House in the Middle East by International Takaful Awards for the second year running. “Winning this award for …

Mashreq goes live with Polaris’ integrated Intellect® Global Transaction Banking Platform  World’s first Implementation of an Integrated Transaction Banking Platform across both front and back office Dubai (UAE), March 07, 2013: Polaris Financial Technology Ltd (POLS.BO), a leader in products, solutions and services that enable unprecedented operational productivity for the global Financial Services industry, today announced that Mashreq, one of …

Dear Reader, Once not so long ago there was a general fear of technology. Now the fear revolves around getting the right technology, especially where financial systems are concerned. The field has expanded to the point where banks are increasingly concerned about buying what is fit for purpose. In this issue we look at the pressures behind choosing the right …

A regional banking commission for MENA has been launched by the ICC. The initiative aims to more effectively coordinate and communicate Banking Commission activities in the MENA region and meet increasing demands for premium trade finance information and up-to-date policy and market intelligence. “Facilitating trade, promoting economic development and enhancing the business environment are shared goals of ICC and the …

SWIFT, the financial messaging provider for more than 10,000 banks, securities institutions and corporate customers in 212 countries and territories, has announced that its business in the Middle East has outperformed the total growth of the business globally by 45 per cent, underpinning the growing importance of the region as a hub for international banking and finance. This marks a …