Press Releases

Manama, Bahrain – 2 September 2015: Bahrain based International Investment Bank announces the appointment of Mr. Subhi F. Benkhadra as the new Chief Executive Officer. Mr. Benkhadra, previously the Chief Executive Officer of Abu Dhabi based Baniyas Investment & Development Company, replaces Mr. Fareed Bader, the acting Chief Executive Officer who continues in the role of Executive Committee Member at …

Hoboken, New Jersey – September 9, 2015 – Surecomp®, the leading global provider of trade finance solutions for banks and corporations, announced today that INTRUST Bank, the largest independent bank headquartered in Kansas, has licensed two Surecomp products as part of an end-to-end trade finance solution. INTRUST is implementing allNETT® the Surecomp front-end solution for banks and their corporate clients. …

The 22nd annual gathering of Islamic finance pioneers returns this December as a fresh and innovative platform Manama, Kingdom of Bahrain, 25 August 2015: The annual World Islamic Banking Conference (WIBC) – the compass of the Islamic financial services industry for 22 years – will yet again galvanise the global Islamic banking and finance industry. WIBC 2015 will be the …

The magic of online marketplaces BECO Capital expects online marketplaces to lead digital growth in MENA Digital retail sales to reach US$100 billion in 2025 (Dubai- 24 August 2015) – BECO Capital, a regional venture capital firm focused on technology investments in the Gulf Cooperation Council (GCC) countries, today said that large homegrown online marketplaces will lead the digital growth …

Dubai, United Arab Emirates. August 23, 2015( ME NewsWire) – Business confidence in the Middle East continued to fall in the second quarter of 2015, but not as quickly as it had in the first three months of the year, according to the to the Global Economic Conditions Survey (GECS) organised by ACCA (the Association of Chartered Certified Accountants and …

24 August 2015, Kuwait – Standard Chartered Bank has successfully completed the first Bank Payment Obligation (BPO) transaction in the automotive industry for Mohammed Naser Al-Sayer and Sons Est. Co., W.L.L. (“Al-Sayer”), one of the largest automotive dealers in the Middle East. The transaction facilitated a shipment of vehicles to Kuwait. Al-Sayer had previously relied on traditional Letters of Credit …

26th July 2015 Gulf International Bank B.S.C. (GIB) reported consolidated net income after tax of $47.3 million for the six months ended 30th June 2015, compared to $50.2 million in the prior year period. Prior year income included an exceptional, one off recovery of a previously written off loan. Excluding this exceptional income item, net income was marginally up on …

London / Frankfurt am Main Deutsche Bank’s Global Transaction Banking (GTB) division has launched an integrated solution for the processing of hybrid funds. The new offering combines Deutsche Bank’s loan administration and fund administration platforms to provide a seamless service for these increasingly popular fund structure characterized by a varied portfolio of stocks and bonds. The solution is scalable allowing …

Frankfurt am Main June 29, 2015 Deutsche Bank’ Global Transaction Banking (GTB) division has embedded SWIFT’s Know Your Customer (KYC) Registry, a centralised repository that maintains a standardised set of information about correspondent banks required for KYC compliance, into its KYC procedures. GTB’s financial institution clients who make their data available via this shared platform will now benefit from a smoother …

SWIFT’s RMB Tracker shows that 35% of the banks making payments with China and Hong Kong are using the RMB, representing a 6% increase over the last two years.  Brussels, 25 June 2015 – Recent SWIFT data shows that the growth in RMB payments is supported by an increasing number of banks. In May 2015, 1,081 financial institutions used the …

The International Chamber of Commerce Regional Banking Commission Middle East and North Africa (ICC RBC MENA) announces participation in Global Trade Development Week, the world’s largest trade facilitation forum Dubai – 24 June 2015 – The ICC Banking Commission, the rule-making body for the world’s banking industry has, through its regional representatives, announced a partnership with Global Trade Development Week …

Jeddah June 3rd, 2015 Under the patronage of the President of Mozambique H.E. Filipe Nyusi; the Board of Governors of the Islamic Corporation for the Insurance of Investments and Export Credit (ICIEC) is going to held its 22nd Annual Meeting in Maputo, the capital of Mozambique on June 11, 2015; in conjunction with the 40th Annual Meeting of the Islamic …

SWIFT’s KYC Registry will now address compliance challenges for funds distribution and custody services as a first step in broadening compliance services to its securities community Brussels, 28 May 2015 – SWIFT announces that The KYC Registry is now available to fund distributors and custodians. In response to an identified need within its Community, SWIFT is extending the reach of …

GTDW launches a strategic partnership with China New Silk Road Investment Association to promote Global Trade Development Week, the UAE mega-trade event held under patronage of UAE Ministry of Economy Xian China – 24th May 2015 – The Global Trade Development Week (GTDW) team led by Ms. Ayesha Alkobaisi, Director of International Trade Organisations at the UAE Ministry of Economy …

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), cleared the Annual Report and the financial statements for 1435H, at its recent meeting held in Jeddah. The Board recommended that the financial results and the annual report be submitted for approval to the 22nd …

  – Challenges facing women in reaching positions of authority in the spotlight – (Manama- April 30, 2015)- The Central Bank of Bahrain (CBB) in cooperation with the Supreme Council for Women (SCW) today hosted a roundtable discussion on the “Challenges Facing Women in Reaching Positions of Authority in the Financial Sector.”  Taking place on the 29th of April 2015 …