Issue 08 March / April 2011

The global downturn has provided bankers with a useful reminder of the solid income to be generated from providing core products. But there is a cost. PAUL MELLY reports. Competition and diversity make for a lively banking market in the United Arab Emirates which, despite the financial crisis of 15 months ago, remains a critical hub of business and financial …

MARC DOMAN, managing director of Invesco Cash Management, explains that risk management is now firmly on the agenda of corporate treasurers and shows how money market funds can fully address this issue As the epicentre of the global financial crisis slowly disappears into the mists of time, the recriminations, accusations and intimidations still echo around the world as to who …

The Bretton Woods system of monetary management established the rules for commercial and financial relations among the world’s major industrial states in the mid 20th century. It was the first example of a fully negotiated monetary order intended to govern monetary relations among independent nation-states, according to Wikipedia. The online encyclopedia says that in preparing to rebuild the international economic …

China will overtake the US to become the world’s largest economy by 2020, helped by faster expansion and an appreciation of its currency, according to Standard Chartered. “We believe that the world is in a ‘super-cycle’ of sustained high growth,” the bank’s economists said in a report published recently. “The scale of change over the next 20 years will be …

  The ongoing market turmoil means that many local and regional banks are struggling to meet the increasinglysophisticated needs of their corporate clients, thus putting even the most established bank-corporate relationships at risk.  DOMINIC BROOM discusses how a more collaborative approach to local and global bank partnerships could turn this situation around. Working capital pressures combined with economic, market and …

  The effective mitigation of business risk needs treasurers to take an active role in Analysing Financial management andstrategy, as PETER MATZA heard when he attended the inaugural meeting of the Association of Corporate Treasurers Middle East (ACTME) in Oman and a breakfast meeting in Abu Dhabi The fi rst meeting of the ACTME in Oman was the latest in …

This year a comprehensive Shariah Governance Framework came into effect that could prove to be the blueprint for the global industry. MUSHTAK PARKER looks at that and the subject overall Shariah governance is an essential component of Islamic finance. Without it, there can be no closing of an Islamic financial transaction whether a vanilla commodity trade fi nance (Murabaha) or …

A rise in treasury management sophistication in the Middle East has led to desire for “top-end” solutions, including integrated cash and trade interfaces. LIZ SALECKA delves into the latest thinking This has lead to an increased awareness of the benefits of integrated cash and trade solutions, which enable corporates to view and manage their cash and trade positions seamlessly via …

BankMuscat, a leading fi nancial services provider in the sultanate, recently hosted the fi rst meeting of the risk Officers Committee (ROC) comprising risk officers from banks across Oman. The committee was formed with a view to facilitate exchange of knowledge and keep abreast with the latest developments in the ever-evolving field of risk management. Participating in the inaugural session, …

Small businesses seem to be reluctant to approach the banks when it comes to seeking finance, according to the Business Banking study carried out by Charterhouse research. Over the past 12 months, only a third of such businesses have sought some form of finance from banks. Mark Dennis, director at Charterhouse research, said, “In a market where businesses seem to …

Demand for trade financing is expected to rise as the Gulf economies develop their non-oil exports. In the UAE, for example, a November 2010 survey of HSBC customers found that around half of small businesses said they expected their need for trade finance to increase as they relied more heavily on banks to finance their export and import activity and …

The national Bank of abu dhabi (nBad) has announced the opening of a new office in the Us capital, Washington, as part of its expansion strategy for north america. The lender currently operates in 13 countries, including those spanning the Uae, Oman, Qatar, Bahrain, Kuwait, Jordan, egypt, sudan, Libya, France, switzerland, the UK, the Usa and hong Kong.

The Islamic finance industry is now worth close to $1trn and spans the globe. From Kuwait to Kuala Lumpur, the industry has attracted significant investor interest due to Islamic banks’ tendency to avoid excessive leverage and risk-taking Islamic finance, which requires financial products from mortgages to savings accounts to be structured to comply with sharia law under the Koran, is …

Lance T. Kawaguchi has been appointed as standard Chartered Bank’s Middle East and North Africa, strategic Client Coverage Group (SCCG) industry head for the oil and gas sector (within transaction banking). he will be responsible for working closely with each country team to drive transaction banking pipeline and revenue origination within the oil and gas sector. also, he will be …

Korea Trade Insurance Corporation (K-sure) and the national Bank of abu dhabi have signed a Memorandum of Understanding to arrange trade and project financing loans to south Korean companies that have secured export insurance coverage from K-sure. K-sure was founded by the Korean government in 1992 to operate export and import insurance programmes for the purpose of facilitating global trade. …

Standard Chartered has launched a mobile application designed for its corporate clients – cash and trade authorisation for android smartphone users. This announcement follows the October 2010 launch of its iPhone application that offers authorisation capability for cash and trade to its corporate clients. The bank says the application covers authorisation for both cash and trade functions. Mobile authorisation via …