Issues

Barclays Bank plans to increase its activity in the Mena region. Recently, Matt Tuck, head of financial institutions at Barclays Corporate, visited the Middle East for the second time since his appointment in november 2010. his focus was on continuing to build existing and new relationships with banks across the region, “leveraging Barclays’ footprint and off ering tailored solutions for …

Habib Bank has licensed Misys BankFusion Equation to “reinforce its leadership in the Pakistani banking industry” by helping improve its online banking services and serve its trade finance and treasury customers more effectively. It’s said that the new BankFusion Equation core banking solution will enable the bank to enhance operational efficiency and increase its ability to respond quickly to customers’ …

  Mubasher Financial Services (MFS), one of the Middle East’s top online trading platforms, has announced that HS BC’s payments and cash management team will be implementing its SWIFTNet payment integration services “to enhance the speed and security of stock payments processed by MFS”. The solution – the first of its kind for HS BC in the region – is …

Moody’s Investors Service, one of the leading rating agencies in the world, has re-affirmed the Aa3 insurance financial strength rating assigned to the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) for the first time in April 2008 and confirmed in October 2009. The agency noted that ICIEC’s rating reflected both its stand-alone fundamentals as well as …

Sibos, the world’s most influential financial services event, is for the first time ever to be held in the Middle East. The host will be Dubai, which will be putting its World Trade Centre at the organisation’s disposal in September 2013. For more than three decades the Society for Worldwide Interbank Financial Telecommunication (SWIFT) has organised Sibos, which is recognised …

Kuwaiti bankers are among the most astute in the region. That is why they are gearing up in terms of technical capabilities and service standards. PAUL MELLY reports Kuwait Finance is at the heart of Kuwaiti life. The country has been a pioneer in business, developing banks, investment houses and a stock market long before most regional neighbours.

Global trade f lows rebounded across many regions in 2010, according to the International Chamber of Commerce (ICC) Trade and Finance Global Survey 2011, but high-pricing meant that traders in many low-income countries still faced difficulties accessing affordable trade finance.

The pressures of the post-crisis environment are signalling a return to a more traditional localised banking model. DOMINIC BROOM managing director and head of market development for BNY Mellon Treasury Services EMEA, discusses how a new approach to localglobal bank partnership can help banks in emerging markets overcome the hurdles presented by this shift .

The Turkish economy has now re-aligned itself more closely to the regional markets in the GCC and MENA countries. MUSHTAK PARKER reports in detail on the new outlook Whichever party wins the Turkish general election in June this year, one thing remains certain. Turkey’s participation banking sector will continue its steady progress and, in the process, further consolidate the sector …

The current political and economic climate in the Middle East has strengthened the need for letters of credit. LIZ SALECKA reports that they now look set to continue playing a crucial role in domestic, regional and international transactions – despite the global movement towards open account trading. Although about 80 per cent of global trade is now open account-based, approximately …

ALEXANDER R. MALAKET, CITP, reviews developments in the MENA region regarding the risk dimension of international trade finance.   Just as trade finance has emerged from the stillreal economic crisis with greater profile, the importance of risk assessment and mitigation have been effectively highlighted by the realities of the crisis. at the same time, political events in MENA and elsewhere …

Burgan Bank has announced that it is launching a range of corporate cash management products and services for its corporate banking clients. These include traditional and new commercial banking services. Raed Al Haqhaq, chief banking officer-senior general manager, said, “We are delighted to introduce a wide variety of specialised products and services offering cost-effective end-to-end banking solutions that optimise cash …

HSBC plans to lay off up to three per cent of its 12,000-strong workforce in the Middle East and north africa as it seeks to cut costs to improve its competitiveness. “As part of a standard operational review of the business to ensure our competitiveness, we have identified an opportunity to improve efficiency through a small reduction of headcount,” it …

an “even higher level” of co-operation between saudi arabia and Korea has been called for by Khalid A. Al-Falih, president and CEO of the Saudi Arabian Oil Company). In addressing the Korean Chamber of Commerce in Seoul, he said he would like to see “strategic Korean Investments in various areas of the Saudi Arabian economy, including energyrelated fields”. In a …

Deutsche Bank is launching trade finance and corporate cash management services out of its branch in the Saudi capital Riyadh. They are focused on servicing the bank’s corporate and institutional clients, and include traditional and new commercial banking services such as international trade finance solutions and cash management, supporting customers at every stage of their business cycles. The bank is …

The future of trade and corporate finance was discussed when the Falcon Group held its second annual Trade & Corporate Finance Forum for the region’s CEOs and CFOs at Dubai’s Atlantis Palm in April. Lord Norman Lamont, former UK Chancellor of the exchequer, was the keynote speaker. Other speakers included Fabio Scacciavillani, Oman Investment Fund’s chief economist, and Daniel Schmand, …