Cash

The Arab Spring countries are said to need billions of dollars to see them through “transition”. MUSHTAK PARKER looks at international efforts to help them No-one really knows how much financing is required to fund recovery and reconstruction in the so-called Arab Spring countries, euphemistically known by governments and multilateral development agencies as “countries in transition”. The countries in question …

A mere 300 participants attended the first Sibos. Thirty-five years on, more than 7,000 are expected for the world’s premier financial services event being held for the first time in the Middle East. PAUL MELLY looks at what’s on the agenda. When some 7000 participants gather in Dubai for the 35th edition of Sibos, this will mark a Middle Eastern …

BARBARA S. ISMAIL, executive vice-president, Cash Management Matters, looks at the argument that says financial stringency as a cure for economic weakness may be the wrong action at the wrong time Common wisdom, as promulgated by the IMF and other supranational organizations, has been that austerity is the best medicine for ailing economies, and countries from Argentina to Thailand have …

ALEXANDER R. MALAKET, president of OPUS Advisory Services International Inc., looks at the evolution of the ‘relationship and trust theme’ from concept to business practice and operation. In other words, from ‘discussion to action’ There has been a great deal of focus, particularly since the eruption of the financial crisis, on the importance of a trust and relationship-based approach to …

Banks need to start developing their mobile-payments strategies now, according to global experts Mohammed Badi, Laurent Desmangles, Alenka Grealish, Sushil Malhotra, and Carl Rutstein Mobile payments and mobile wallets— when they come into full force—will affect a wide variety of stakeholders: mobile network operators, handset makers, operating-system providers, retailers, consumers, and, of course, financial institutions. Yet many banks are in …

MUSTAK PARKER reports on a plea for ‘a dedicated, qualified, modern, single globally accepted Shariah Committee’ Kuala Lumpur and Dushanbe are not exactly known for their revolutionary zeal. It is in these two capitals, however, that the patriarch of Islamic development finance, Dr Ahmad Mohamed Ali, President of the Islamic Development Bank (IDB) Group, perhaps the most unlikeliest revolutionary in …

The traditional model of correspondent banking is changing as the relationship between global and local banks evolves. But how and what is driving this? PETER JAMESON from Bank of America Merrill Lynch analyses the landscape and considers what the future might hold For many years, industry specialists have suggested that correspondent banking is dead and that now is the time …

Banks in the GCC have continued to grow and outperform international banks, according to a new study The banking industry in the Middle East settled at single digit revenue growth in 2012 with a 6.9 per cent increase, although the rise in profits was slightly higher at 8.1 per cent, stemming largely from extraordinary income sources. These were among the …

The greatest demand for MENA exports is going to continue to come from Asia, according to HSBC Commercial Banking’s Trade Forecast. Tim Reid, regional head of commercial banking for HSBC Middle East and North Africa, said, “Looking at the latest data, we see two key themes emerging at a regional level. First, Asia continues to be of increasing importance in …

The 2013 Global Financial Markets Forum (GFMF), the fifth annual event of its kind, continued with its reputation as the region’s unrivalled platform for discussing and debating the globe’s most pressing and critical issues Keynote speakers such as H.E. Sheikh Nahyan Mubarak Al Nahyan, the UAE Minister of Higher Education and Scientific Research; and H.E. Sultan Bin Nasser Al Suwaidi, …

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 …

HSBC has enhanced its mobile banking service in a continued commitment to help businesses streamline their banking needs. The new offering will allow customers to initiate payments to existing beneficiaries across the world and adds to the extended suite of mobile solutions the bank already provides for its customers. Commenting on the HSBCnet offer, Natasha Patel, regional head of global …

A debate about the future of the rising economic influence of emerging markets, as well as the state of the eurozone and the US economy were on the agenda at the 2013 Global Financial Markets Forum (GFMF) as Cash&Trade was going to press. “European fiscal crisis and the US debt continue to be lingering challenges; at the same time, many emerging …

Increased government spending is helping to drive up GDP growth and regional trade. LIZ SALECKA looks at the factors behind the momentum In spite of concerns that a global economic downturn could impact the price of oil, and future levels of spending and investment in the Middle East, these fears have proved unfounded and today the region has a positive …

Faster actions and responses will be part of the future of enhanced cash management in the UAE, and Abu Dhabi Commercial Bank will be in the forefront when it comes to introducing new capabilities, as it makes clear in this exclusive Q&A interview Question Please provide an overall perspective on ADCB’s cash management products and solutions – and future offering? …

The contenders are in place but which one will receive the accolade of being recognised as the ultimate international financial centre? MUSHTAK PARKER looks at the jostling taking place for the crown Mirror, mirror on the wall, who is the fairest of them all?” This is a beauty parade with a difference – it’s taking place in the financial sector. …