2012

Governments across the Middle East are embracing change. The social justice agenda, which has been rolled out across most of the region, has seen them place a stronger focus on spending on employment, healthcare and education reform – as well as investing in infrastructure and the private sector to encourage growth. LIZ SALECKA reports Many governments are now seeking to …

The rising levels of transaction banking sophistication throughout the MENA region coincide with an increasing corporate focus on how to better manage risk and working capital throughout the supply chain. SRIRAM IYER, regional head of global transaction banking at Deutsche Bank, discusses the role financial supply solutions can play in facilitating trade against the backdrop of these developments While the …

PAUL MELLY, looks at growing competition in what has traditionally been one of the Gulf’s quieter financial markets News that HSBC is taking a majority stake in Oman International Bank confirms the growing intensity of competition in what has traditionally been one of the Gulf’s less frenetic financial markets. The government’s decision to allow the development of Islamic finance will …

MUSHTAK PARKER looks at a unique new fund raising and liquidity option that has been taking MENA by storm One of the ongoing consequences of the global financial crisis has been a sustained credit crunch in economies all over the world as liquidity remains scarce and financing is targeted at “safe” customers by an over-cautious global financial sector. This, despite …

There have been many approaches to corporate governance over the last 20 years, with new approaches constantly suggested. In the UK there has been the Cadbury Report (1992), the Greenbury Report (1995), the Turnbull Report (1999) and the Higgs Report (2003), among others. New mechanisms are usually introduced in response to corporate scandals, such as Guinness in the 1980s, Maxwell, …

The scars left behind by the 2008 credit crunch and resulting financial crisis have barely faded and yet 2012 already looks as though it will be another highly challenging year for corporate treasurers. MARCUS HUGHES, business development director, Bottomline Technologies, looks at how they can cope The world economy is once again on the verge of a new crisis as …

Governments across the Middle East are now looking for ways to help SMEs. MUSHTAK PARKER, looks at what’s in store Small-and-medium-sized enterprises (SMEs) form the backbone of many Middle East and North Africa (MENA) economies. In the aftermath of the global financial crisis, governments are seeking to generate employment, especially youth employment, and economic growth to try to mitigate the …

Standard Chartered’s SME Banking Business has been recognised as the “Best SME Internet Banking provider and Best SME Foreign Exchange Service Provider” for 2012 by the Banker Middle East publication. Commenting on the awards, Sadia Saeed, general manager, SME Banking for the Middle East, Standard Chartered, said, “SMEs in UAE have strong international trade needs. Competitive foreign exchange services and …

Qatar has played its part in the debate on development-centered globalisation by hosting the Civil Society Forum in Doha in parallel with the 13th session of the United Nations Conference on Trade and Development (UNCTAD XIII). The Civil Society Forum brought together 400 delegates representing social movements, pro-development groups, women’s groups, trade unions, agricultural organisations, environmental organisations, faith-based organisations and …

Dear Reader, The Jeddah-based Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) has now become one of the most proactive export credit agencies in the world and, in this issue, we talk to its dynamic CEO , Dr Abdel Rahman Eltayeb Taha. In an exclusive interview, he discusses upcoming export credit and investment insurance opportunities to be …

A largely pessimistic outlook for the demand for trade finance products in 2012 has been revealed by new research from the International Chamber of Commerce (ICC) and the International Monetary Fund (IMF). Based on inputs received from 337 financial institutions responding to a joint ICC-IMF survey, the findings also show a two-speed financial system: for emerging Asia the outlook is …

The Royal Bank of Scotland has now officially opened its corporate banking branch in Emaar Square, Dubai. The branch, which was previously located in Bank St, is an integral part of RBS’s corporate banking operations in the UAE and accommodates a corporate branch, transaction services and global networking sales teams.

HSBC Middle East’s payments and cash management business has been awarded Best Overall Bank for Cash Management and Best Bank for Payments and Collections by Global Finance. The awards recognise HSBC’s continued efforts to strengthen its position across the region, “providing innovative solutions to its customers”. Commenting on the wins, Natasha Patel, regional head payments and cash management for Middle …

Dubai Multi Commodities Centre (“DMCC”), the Middle East’s leading commodity centre, has announced the launch of DMCC Tradeflow, a significantly enhanced platform to the previous multi award-winning Global Multi Commodities Receipt (GMR) that was introduced in 2004 as a commodity finance risk mitigation tool. DMCC Tradeflow is an electronic system that brings together all parties involved in inventory-based financing. Through …

The International Chamber of Commerce (ICC), in association with Qatar National Bank (QNB), will host its biannual ICC Banking Commission Meeting in Doha from March 25 to 29. The event will bring together some 400 banking leaders and executives from 50 countries. QNB is the diamond sponsor. This year’s event – entitled Reframing the Future of Trade Finance – is …