Press Releases

Citi launches four currencies in one Citibank Debit Mastercard with Citibank Global Wallet Citi introduced today Global Wallet to its newly revamped Citi Mobile® App. In a first by a bank in Bahrain, Global Wallet is a new feature that allows customers to make purchases overseas without incurring additional currency conversion charges. “The next generation Citi Mobile® App will change …

The Bank will be able to use TRADEASSETS to automate primary and secondary market trade finance pricing and communication on a global scale.  29th May 2019: Abu Dhabi Islamic Bank PJSC (ADIB) signed up as a member of TRADEASSETS, a unique global Fintech platform, headquartered in the UAE. Under the agreement, ADIB will be able to use TRADEASSETS to automate …

Western Union Digital Now Live in Seven Countries Across the Middle East Watch video here: https://vimeo.com/333255060 Western Union chose to unveil its upgraded digital services in the UAE as a part of the famed light show on the Burj Khalifa, a first for a financial services firm. This international famous building is rooted in history, built with partnerships, and reaching …

The International Islamic Trade Finance Corporation (ITFC) and Dubai Exports host B2B Forum to Promote Agri-Food Trade between Arab and African Countries under the Arab Africa Trade Bridges Program Two-day forum attracts 40 African companies and witnesses over 200 B2B meetings Dubai, 30 April 2019: The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank (IsDB) Group …

The two leading companies can now support banks required to comply with Open Banking standards set by the Central Bank of Bahrain Manama, Bahrain – March 24, 2019: With the introduction of new regulations by the Central Bank of Bahrain, mandating banks to comply with Open Banking standards, Gulf Business Machines (GBM), has partnered with Banfico from the United Kingdom …

Paris, 2nd April 2019 – PRETA launched today the onboarding process for the Open Banking Europe (OBE) directory, a pan-European, centralised and machine-readable repository for active regulated entities that can perform access-to-account (XS2A) services across Europe. The directory is open to Account Servicing Payment Service Providers (AS-PSPs) and their service providers. It provides these providers with a key element for …

Tata Consultancy Services’ State-of-the-art solution to help NBB Drive Innovation, Unlock New Revenue Streams, Expand Market Presence and Improve customer experience Manama, April 3, 2019: National Bank of Bahrain (NBB) announced that it has selected Tata Consultancy Services (TCS), a leading global IT services, consulting and business solutions organisation, to provide its TCS BaNCS solution for Core Banking in line with …

The Bank’s flagship event was attended by key industry leaders, including Dr. Janet Yellen who was this year’sGuest of Honour and Keynote Speaker Dubai, 18 March 2019: Standard Chartered hosted yet another successful edition of its annual Middle East Summit. In its 3rd year, the flagship event was held exclusively for Standard Chartered clients and, this year, witnessed the attendance …

Inadequate cyber security has long been a threat to the banking industry, costing the banks revenue losses and tarnished brand image. In the face of this growing concern, banks across KSA have been increasingly investing in technological advancements in order to adopt a proactive approach to cyber security.  Supporting this, the Saudi government’s expansionary vision and digital transformation plan of …

March 4, 2019  United Arab Emirates, Dubai. TradeAssets, the first e-marketplace for banks of its kind, announced the successful completion of the first, cross border, bank to bank trade finance transaction through its custom built platform. Two leading banks based in Bangladesh and India took part in the transaction. The transaction was completed in less than a day, as expected …

MEFTECH 2019, 24 – 25 February 2019, Four Seasons, Riyadh 11 February 2019, Riyadh, The Kingdom of Saudi Arabia – MEFTECH, the longest running Banking & Financial Technology event in the MENA region, has announced its lineup of industry expert speakers on Fintech from across the world ahead of the two-day conference at the Four Seasons, Riyadh from 24th – …

THE ISLAMIC CORPORATION FOR THE INSURANCE OF INVESTMENT AND EXPORT CREDIT (ICIEC) WINS TWO PROJECT FINANCE INTERNATIONAL (PFI) AWARDS [February 6, 2019, London, United Kingdom] The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) won two prestigious awards at the Project Finance International (PFI) Awards, hosted in London on February 6th, 2019. The PFI awards are one …

London, Frankfurt 03 December 2018 TRAFIN 2018-1 will refinance Deutsche Bank’s third synthetic collateralised loan obligation, TRAFIN 2015-1, which was launched in 2015 at US$3.5bn Three years on from the announcement of the US$3.5bn collateralised loan obligation (CLO), TRAFIN 2015-1 – the largest ever securitisation of trade finance assets at the time – Deutsche Bank has issued a further iteration …

Top performing Islamic Financial Institutions from Bahrain, Egypt, Indonesia, Jordan, Kuwait, Malaysia, Oman, Pakistan, Turkey, UAE and Saudi Arabia are vying for the WIBC Awards recognizing the Best Performing Banks at the Global and Regional level Manama, Kingdom of Bahrain, 22 October 2018: A testament to its vision of advancing the global Islamic banking industry, the 25th World Islamic Banking …

Manama – 14 November 2018: Gulf International Bank B.S.C. (GIB) announced today that it has successfully closed a US$500 million three-year financing facility with a group of lenders comprising First Abu Dhabi Bank, HSBC Bank Middle East Limited Natixis DIFC Branch, Riyad Bank, Mizuho Bank Ltd, Samba Financial Group, State Bank of India Bahrain, Citibank N.A. Bahrain Branch and Wooribank Bahrain Branch. …

Facilitating trade finance for new businesses is paramount to nurturing continued growth in the Middle East. Small and Medium Sized enterprises (SMEs) are proliferating in the region and creating an increased demand for bespoke and flexible financing, which is not being met by the region’s banks. Chris Ash, Managing Director of ExWorks Capital UK, describes the challenges and opportunities in …