Press Releases

Jeddah, Saudi Arabia – The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IDB) Group, signed a US$ 9 Million 2-Step-Murabaha-Financing Agreement with Coris Bank International (CBI), a leading bank in West Africa, with headquarters in Burkina Faso.The Agreement was signed by  Mr. Idrissa Nassa, CEO, Coris Bank International (CBI),Burkina Faso and Mr. Nazeem Noordali, …

HireRight, a leading global provider of candidate due diligence services will hold a roundtable event on 23rd March in Dubai, to discuss the ever-increasing role employment screening plays in the financial services sector. Headquartered in the USA with offices around the world, HireRight provides pre-employment background screening, encompassing; criminal record, credit history and identification checks, employment history, academic, and professional …

London, 22 March 2016:  Contis Group, the fast growing alternative banking and payments company today announces the appointment of Thomas Gregory as Group CEO. Thomas Gregory joins Contis Group from Skrill, the London-based global payment processor and eWallet group recently acquired by Optimal Payments for $1.2bn and rebranded as Paysafe Group.  He previously worked in a number of senior roles …

Dubai to play host to the Annual Prepaid Summit: Middle East and Africa in April 2016 Summit To Explore and Reward Region’s Prepaid Digital Success Experts Set To Debate Trends, Recognise Industry Leaders At Annual Conference and Awards Dedicated To Region’s Prepaid Card Sector Prepaid Summit: Middle East and Africa 2016 in association with Visa April 27 2016  Shangri-La Hotel, …

Manama, Bahrain – March 10, 2016 – Visa Inc. today released the results of a new 2016 study conducted by Moody’s Analytics that analyzed the impact of electronic payments on economic growth across 70 countries between 2011 and 2015. The Visa-commissioned study found that increased use of electronic payment products, including credit, debit and prepaid cards, added US$296B to GDP, …

Cairo, Egypt – The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank (IDB) Group, signed a partnership agreement with the Industrial Training Council (ITC) (a subsidiary of the Ministry of Trade, Industry and SMEs of Egypt) and Foreign Trade Training Center (FTTC), for the implementation of the “Youth Training and Employment for Trade Project” in the …

As China’s mobile payment market is getting continuous boost from the country’s economic restructuring towards a consumption-and-Internet-driven growth, the premier event will be convening 200+ top professionals from across the value chain including MNOs, payment platforms, banks & non-bank payment card issuers, retailers, e-Commerce players, chip solution & smart card vendors, payment terminal vendors, security components and services providers, smartphone …

New solution significantly strengthens and simplifies “Know Your Customer” processes London(UK), Chennai(India), New York(US) and Toronto(Canada), March 8, 2016: Intellect Design Arena Limited’s iGTB division, the world’s first comprehensive global transaction banking solution, announced today its partnership with OutsideIQ, the cognitive computing technology company, to deliver DDIQ:  the most advanced due diligence screening tool for compliance. “OutsideIQ’s DDIQ system has …

Funds raised by the multilateral development bank will support investment in the Arab energy sector Listing reinforces Dubai’s position as the global leader for listed Sukuk at USD 37.81 billion Dubai, March 8, 2016 – Dr. Aabed Al Saadoun, Chairman of the Arab Petroleum Investments Corporation (APICORP), today rang the market-opening bell to celebrate the listing of a USD 500 …

A step ahead in the common understanding of terminology and techniques in supply chain finance A new set of definitions launched today will help address the global need for a common understanding of terminology, nomenclature and techniques related to supply chain finance. Unveiled during a dedicated panel discussion at an ICC Academy hosted Supply Chain Finance Summit in Singapore, the …

March 01, 2016 EastNets, a leading global provider of compliance, payments and cloud solutions for the financial services industry, will continue to leverage its competitive portfolio of solutions across various verticals to sustain its strong market foothold and competitiveness in the international arena. Over the past three decades, the company has been effectively helping financial institutions better manage their regulatory …

Casablanca, 25th February 2016: The International Islamic Trade Finance Cooperation (ITFC), a member of the Islamic Development Bank Group (IsDB), signed a Memorandum of Understanding (MoU) with Attijariwafa Bank, a Moroccan Bank and one of the largest in Africa. The MoU will focus on opportunities for joint trade financing in Morocco and Africa in accordance with the Principles of Islamic …

Jeddah, Saudi Arabia – The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IDB) Group, signed a US$75 million Syndicated Murabaha Financing agreement on Sunday, Feb 21st 2016 with the Government of Senegal, with Suneor (the major player in the Senegalese groundnut sector) as Executing Agency. . The signing ceremony took place at the headquarters …

At present, resource and energy companies have a major opportunity to enhance their process efficiency and transparency, as well as boosting their financial liquidity. The decline in crude oil prices of some 70% has had a major effect on their liquidity positions. As a result, while liquidity management was once almost a peripheral consideration for the sector, it is now …

Tuesday 19 January Fitch Ratings has upgraded Falcon Group’s Long-term Issuer Default Rating (IDR) to ‘BB-’ with a stable outlook Leading specialist financier, Falcon Group’s Long-term Issuer Default Rating (IDR) has been upgraded to ‘BB-’ from ‘B+’ by Fitch Ratings. The upgrade reflects continued improvements in Falcon’s management quality and corporate culture, as well as the introduction of more effective …