Press Releases

DSOA Achieves AED245.4 Million Revenue in H1 2015 AED1.8 Billion of Foreign Investments within overall Total of AED3.2 Billion 1,187 Companies now Operating in Technology Free Zone, Marking a 12% Increase from Previous Year 71% of Companies Specialize in IT Free Zone Technology Park Continues Attracting Hi-Tech Companies, Investors and Entrepreneurs Dubai-UAE: 04 November, 2015 – His Highness Sheikh Ahmed bin …

The first WHO’S WHO guide of the Islamic Economy presented during the WIEF ISFIN is launching a unique and outstanding reference work: the ISLAMICA 500, the first Who’s Who Guide in the Islamic Economy including The 500 most influential people who make the Islamic Economy. Published annually, the ISLAMICA 500 is a premier guide released in its first edition in …

Mr. Nazeer Hussain, the Director of Finance and Budget of the UAE-based international business conglomerate Thumbay Group was named the ‘Revolutionary CFO of the Year’ at the 9th Annual MENA CFO Awards recognizing the top business leaders in the Middle East. Mr. Nazeer Hussain was presented with the prestigious award at a ceremony held at Sofitel The Palm Dubai, on 26thOctober 2015. …

New five year plan aims to cut messaging prices by an additional 30-45 % by end of 2020 Singapore, 21 October 2015 – SWIFT announces today that it expects to deliver a 57% price reduction on its messaging services by the end of 2015, exceeding the original target of a 50% price reduction set out by the company in 2010 …

 ‘eExchange’ offers 24/7 remittance service at attractive exchange rates; complements Dubai’s drive to become ‘smart’ city UAE, October 20, 2015 – Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has announced the launch of online money transfer portal – ‘eExchange.’ The web-based solution uses a highly secured gateway to enable customers to transfer money online at …

October 19, 2015 Bank of America Merrill Lynch Introduces Digital Processing for Wholesale Lockbox First of Its Kind Business Model Offers Improved Accuracy and Speed NEW YORK – Thousands of companies across the world, and particularly in the United States, continue to receive large volumes of check payments, even as electronic payment options grow in popularity. Today, Bank of America …

Various investment avenues to be discussed among investors and Arab businessmen Abu Dhabi, UAE, 18 October 2015: The Higher Organising Committee of the 17th Arab Investors and Businessmen Conference (ABIC), which will be held under the patronage of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, has lined up a host of discussions on investment opportunities …

Coface Country Risk Conference at GTDW presents leading international specialists from banking, insurance, finance Dubai, UAE, October 18, 2015: A powerful line-up of key decision-makers and economists will gather at the 2015 Coface Country Risk Conference to discuss the global and regional economic outlook and the much needed assessment of business risks in today’s economic climate. The Coface Country Risk …

Paris and Singapore, 14th October 2015 Publication of updated version follows extensive consultation exercise in the third quarter of 2015 The blueprint is available upon request at www.ebaclearing.eu/N=Blueprint-Instant-Payment-Solution.aspx EBA CLEARING has issued an updated version of its Blueprint for an Instant Payment Infrastructure Solution, which was first made available to the payments industry and interested stakeholders in July 2015. As …

Singapore, 13 October The International Chamber of Commerce’s (ICC) educational platform, the ICC Academy has gone live today – providing millions of business professionals and students around the globe with access to a new standard in business education. Commonwealth Bank of Australia, DBS, OCBC Bank, Banco Santander, and Standard Bank have been announced as “early adopters” of ICC Academy training …

Jeddah October, 2015 The Board of Directors of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Member of the Islamic Development Bank (IDB) has appointed Mr. Oussama Abdel Rahman Kaissi as Chief Executive Officer of ICIEC. Mr. Oussama Kaissi has over twenty eight years of diverse experience in the insurance and Takaful industry. Out of …

Conveners of WIBC and Central Bank of Bahrain reaffirm role of 22-year-old platform as undisputed compass for Islamic financial services industry  Manama, Kingdom of Bahrain: 30 September 2015: The conveners of the much-coveted World Islamic Banking Conference (WIBC) announced today the various features that promise to make WIBC 2015 the best edition in its 22-year history. Middle East Global Advisors, …

29 September 2015 The International Chamber of Commerce (ICC) has released the results from its 2015 Global Survey on trade finance – highlighting the impact of the trade finance gap on SMEs, the impact of regulation on correspondent banking, as well as positive trade finance trends, particularly with regards to export finance Small- and medium-sized enterprises (SMEs) are among the …

Appointment reinforces HSBC’s commitment to PCM and the Resources and Energy sector globally 14 September 2015 – HSBC today announced the appointment of Lance Kawaguchi as Managing Director and Global Head of Payments and Cash Management’s (PCM) Resources and Energy ‎Group. Based in London, Lance will have global responsibility for aligning Global Payments and Cash Management strategies with HSBC’s Resources …

Leading specialist financier, Falcon Group, has entered into a “Joint Venture Co-Operation” agreement with the Government of Vietnam, through the Embassy of Vietnam in the UAE The objective of the agreement is to promote both import and exports between Vietnam and the UAE. With an Embassy presence since 2008 strong ties between the two countries have been established. “In recent …

AMMAN, JORDAN – The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IDB) Group, signed on Sunday ,Sep 6th 2015, a $3 billion framework agreement for the cooperation with the Government of Hashemite Kingdom of Jordan, represented by the Planning and International Cooperation Ministry, where ITFC seeks to be the first partner that provides comprehensive …