2012

The world’s first Islamic finance benchmark rate, designed to provide an objective and dedicated indicator for the average expected return on Shariah-compliant short-term interbank funding, has been launched by Thomson Reuters. The Islamic Interbank Benchmark Rate (IIBR), announced at the 18th annual World Islamic Banking Conference in Bahrain, uses the contributed rates of 16 Islamic banks and the Islamic sections …

The Qtel Mobile Money service, a “safe, fast and easy-to-use ‘mobile wallet’ (mWallet) solution”, has been launched by the Qtel Group.

The possibility of global recession and falling demand are two of the big issues for treasurers to wrestle with in the coming year. LIZ SALECKA gets their views on what the New Year has in store As the New Year begins, corporate treasurers across the Middle East are preparing for a busy time ahead by ensuring that their companies have …

Transaction banking was the subject of discussion when representatives from most banks in the Kingdom of Saudi Arabia took part in the first ever roundtable discussion organised by Cash & Trade  The participants were: AlRajhi Bank: Badri Ali Kadhim, AGM, head of global transaction banking/financial institutions Khaled M. Al-Busayes, head of cash management and e–corporate banking  Alinma Bank: Ahmed Said …

The ability to use ‘soft market’ time to prepare for the next big business cycle is what makes leaders in the banking industry stand out from the rest. SUKIRAT KOCHAR and MANINDER BHANDARI explain Sukirat Kochar All industries go through ups and downs and the banking industry is no exception. However, what differentiates the leaders in this business from the …

Caroline Maginn, Trade Partner at Cash Management Matters (CMM) comments on a very positive ICC Banking Commission initiative that galvanised a group of leading trade finance banks to work together to give qualified input to Basel III. This should support the industry as a whole to engage in the on-going provision of trade finance liquidity in support of the real …

The Middle East has a population of more than 190 million people and a combined GDP of $1.6 trillion. Its aggregate economy is larger than Russia or Brazil and has impressive growth prospects. The most prominent economic powers are the members of the Gulf Cooperation Council (GCC): Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. These six …

The doom and gloom precipitated in 2008 by the global financial crisis and more recently by the eurozone sovereign debt crisis will continue unabated through 2012, and the impact on the global markets will equally not be spared. MUSTAK PARKER reports