2015

The 2015 Annual ICC Banking Commission Meeting – taking place at Singapore’s Raffles Convention Centre on 20-23 April – will host trade experts, banking professionals, business leaders, lawyers and government officials from around the world under one roof to discuss the future of trade finance. Hosted in collaboration with The Association of Banks in Singapore (ABS), the event will feature …

Bank of America Merrill Lynch (BofAML), a leader in card services for middle-market, large corporate and public sector clients, has launched BofAML Travel Pro, an award-winning, market-leading business travel payment solution that enhances travel expense management. The firm is the first commercial card issuer in EMEA to launch this product to clients. It is currently available across 27 countries in …

The National Bank of Abu Dhabi (NBAD) has appointed Omar Mehanna as managing director and global head of merchant banking. In his position, he will be responsible for the corporate finance, equity capital markets, project finance and debt advisory platforms. He will also lead the continued development and implementation of strategy relating to merchant banking, ensuring that NBAD provides a …

Managing both cash management and trade finance as a seamlessly integrated transaction banking proposition is one of the secrets of ADIB’s success, Maki Vekinis, the bank’s head of global transaction services, tells Cash&Trade in an exclusive interview Would you elaborate on ADIB’s overall GTS strategy and explain the importance of ADIB’s cash and trade business, both locally and internationally. At …

The dominance of transactions involving Tawarruq and Murabaha syndication and its variants in cash management and trade finance will continue unabated in 2015 in the absence of other products. Commodity Murabaha trading is done through exchanges such as the London Metals Exchange (LME), Bursa Suq Al Sila with its palm oil contracts based platform and the NASDAQ Dubai Murabaha Platform, …

JENS MIKOLAJCZAK – co-head of corporate cash management, EMEA, Deutsche Bank – discusses why SEPA matters for non-European corporates, and why 2015 is the year to consider its wider benefits On August 1 2014, the deadline for implementing obligatory Single Euro Payments Area changes passed for the 32 countries in the SEPA-zone. The culmination of a concept that began with …

CAROLINE MAGINN wonders whether there are other relationships in the Gulf Co-operation Council states that merchant financiers should be cementing There is, arguably, much global debate, mind-set and misnomer centred on the premise that natural resource abundance, particularly minerals, can have adverse consequences for social well-being, political stability, the environment and sustainable economic growth and creates a parallel disadvantage between …

MUSHTAK PARKER looks at new trends in Islamic Commodity Murabaha and trade receivables supply chains Islamic trade finance has flourished over the last four decades with the Murabaha (cost-plus financing) dominating the direction of financing of Islamic banks and financial institutions to the tune of up to 80 per cent. So much so has this been that the Murabaha became …

In an unpredictable economic climate it is vital that treasury teams are prepared for every eventuality. PAUL MELLY reveals how that is certainly the case with Saudi Telecom Even seven years after the 2007/8 financial crisis, the effects can still be felt, says Saudi Telecom’s Noman Ansari. The markets are unsettled and it seems that every day brings new developments; …

Although treasury teams view themselves as broadening their strategic contribution, their core focus still remains on tasks such as cash management, cash forecasting and compliance. That was one of the principal findings in a survey that looked at the roles carried out by these key professionals Treasury teams are playing a broader role, and are contributing to a wide range …

Dear Reader, This issue has a most appropriate theme for the New Year – the future. It was summed up by a senior figure at one of the world’s leading banks when, in an exclusive interview with Cash&Trade, she said, “I think banking in general has now come to a crossroads of understanding around the world that ‘banking will never …

First Gulf Bank (FGB) has won the Best Bank Award for Trade Finance and Corporate Banking in a survey conducted by Cash Management Matters (CMM) and published in Cash & Trade Magazine. Winning this award did not happen by chance.  FGB has been implementing a strategy to become the “First Choice” Global Transaction Bank in the markets they operate in. This …

The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group, has signed a $300m Murabaha Agreement with the Tunisian Refining Industries Company (STIR). This was the result of a Framework Agreement signed between ITFC and the Government of Tunisia with the aim of financing Tunisia’s strategic sectors through an agreed list of public entities acting …

The International Islamic Financial Market (IIFM) has released its much- awaited Sukuk Report (4th edition). It consists of a comprehensive study of the global Sukuk market and sheds light on the growth, trends and development of international and domestic Sukuk issuances for the period January 2001 – July 2014. Khalid Hamad Abdul Rahman Hamad, chairman of IIFM, said, “The report …

The UAE is one of the most dynamic and open economies in the world, its economy minister H.E. Sultan bin Saeed Al Mansoori told delegates at the Global Trade Development Week gathering in Dubai. He said, “This event comes at a momentous time, a time when the UAE has proved itself to be the leading regional and international trade hub …