Press Releases

Highlights of the forum include: Unique Town-Hall style interactive session with H E Rasheed Mohammed Al Maraj, Governor of the Central Bank of Bahrain   Keynote interview with Khalid Al Rumaihi, CEO of Bahrain Economic Development Board Keynote interview with Mahmood Al Kooheji, CEO, Mumtalakat Keynote address from Gazi Ercel, former Governor of Central Bank of Turkey Manama, Kingdom of …

February 8, 2015  Dubai will act as host city for GTR Mena Trade Finance Week 2016, organised by Global Trade Review (GTR) and taking place at the Jumeirah Emirates Towers, Dubai on February 15-17. Featuring as the premier trade finance gathering for the Middle East and North Africa, the conference returns for its 13th year in 2016, bringing together leading …

Paris, 1st February 2016 MyBank reports an excellent growth for 2015 both in the volume and value of transactions as well as in the number of merchants offering MyBank. More than €650 million worth of payment transactions were authorised via the MyBank solution in 2015, with almost €100 million in December alone, compared with €3 million in December 2014. Transaction …

Jeddah, Kingdom of Saudi Arabia – The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IDB) Group, signed a US$ 60 million Murabaha Agreement with the Government of Burkina Faso and Sonabhy as the Executing Agency for the import of petroleum products. The Agreement was signed by Mr. Gambetta Aboubakar Nacro, Managing Director, SONABHY (Société …

New alliances for a digital future The world of payments is being fundamentally reshaped by new financial technology, or “fintech”, with technology-led developments already radically transforming retail and consumer payments. Innovation on the corporate side is a more complex proposition, but come it must, as pressure mounts from corporate clients who wish to enjoy the same levels of speed, ease …

Hamburg, Germany, January 25, 2016 – Surecomp, the leading global provider of trade finance solutions for banks and corporations, announced today that Isbank AG, the European arm of Turkey’s leading bank Türkiye Is Bankasi A.S., has commenced production with DOKA 5, Surecomp’s configurable back-office solution for documentary trade finance. Headquartered in Frankfurt, Isbank leads its parent company’s international expansion plans, …

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 …

To target SME companies and complement national healthcare development goals UAE, January 10, 2016 – aafaq Islamic Finance, a leading provider of Islamic finance products and services in the UAE, has introduced a new medical equipment financing product specifically tailored for the country’s small & medium enterprise (SME) market. The fully Shari’a-compliant product will be offered to doctors, dentists, diagnostic …

7 January 2016 The International Chamber of Commerce (ICC) Academy names Vijey Ananda as Commercial Director Vijey Ananda has been appointed Commercial Director of the International Chamber of Commerce (ICC) Academy – ICC’s ground-breaking education initiative. His role will focus on the development of the Academy’s commercial functions – identifying new opportunities for growth through strategic planning and developing a …

7 January 2015 Bank of America Merrill Lynch Launches U.S. Dollar Cross-border Cash Pooling in China ZF TRW Automotive Serves as Pilot Client for New Solution SHANGHAI – Bank of America Merrill Lynch Global Transaction Services (GTS) has today announced the launch of automated U.S. dollar cross-border cash pooling services for corporations operating in the Shanghai Free Trade Zone. ZF …

Manama, Bahrain –   04 January 2016:  WestPoint Home LLC (WPH) with the American Chamber of Commerce Bahrain (AmCham) met with the Minister of Industry, Commerce and Tourism, H.E. Zayed R. Alzayani, to discuss further investment in the Kingdom of Bahrain and how WPH will mitigate the impact of the potential expiration of the Tariff Preference Level (TPL) that allows duty …

Jeddah, 3rd January 2016: The International Islamic Trade Finance Cooperation (ITFC), a member of the Islamic Development Bank Group (IsDB), signed a Memorandum of Understanding (MoU) with Agroinvestbank, a private commercial bank established in the Republic of Tajikistan. The Agreement was signed by Mr. Murodali Alimardon, Chairman of Agroinvestbank and Mr. Mohammad Iqbal Azad, Officer-in-Charge, on behalf of the ITFC. …

The globalisation of business throws up as many challenges as opportunities, making it crucial that professionals keep abreast of changes in cash management and trade finance practice and innovation. International Chamber of Commerce (ICC) Secretary General, John Danilovich, explains why standardised, online professional education – that can be accessed by anyone, anywhere, at any time – could be the solution …

ICIEC and EXIAR sign a reinsurance framework agreement Shanghai, 10 November 2015 – The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and the Russian Agency for Export Credit and Investment Insurance (EXIAR) have signed a reciprocal reinsurance agreement aimed at expanding mutual business opportunities. Under the agreement, the signatories will share the expertise and capabilities to …

QnA International organizes summit on trends and challenges on trade finance in Saudi Arabia Dubai 5 November, 2015 – Dubai based QnA International is set to host the annual Saudi Trade Finance Summit in partnership with the Saudi Arabia arm of International Chamber of Commerce (ICC). The event now in its third edition, is an exclusive by-invitation only gathering of …

Monday 26 October  Paul Mitchell and Louis Edwards have both left GE Capital to join Falcon Group – establishing the company’s Australian and New Zealand division Leading specialist financier, Falcon Group, has opened an office in Sydney, Australia – providing the region with sophisticated, bespoke, corporate and trade finance solutions. Heading the new office will be Paul Mitchell, previously the …