Press Releases

Proud to be awarded the Best Bank in Cash & Liquidity Management in the MENA Region Dubai, February 9, 2015 – Citi, the leading provider of cash management and trade services in the MENA region, announced that it has won the award for the Best Bank in Cash and Liquidity Management for the Middle East and North Africa Region  at the 2014 Treasury …

New facility will help fund the Firm’s rapid growth across the Gulf region (Abu Dhabi, 4 February 2015) – Gulf Capital, one of the most active and diversified alternative asset managers in the Gulf region, announced today that it has successfully closed an AED 850 million syndicated revolving credit facility lead arranged by two of the leading banks in the …

New Functionality Available to Clients in EMEA Bank of America Merrill Lynch (BofAML), a leader in card services for middle-market, large corporate and public sector clients, today launched BofAML Travel Pro, an award-winning, market-leading business travel payment solution which enhances travel expense management. The firm is the first commercial card issuer in EMEA to launch this product to clients. It …

Jeddah, KSA – The Aa3 rated Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the insurance arm of the Islamic Development Bank Group, recently announced that it has provided US$ 80 million reinsurance support to the Overseas Private Investment Corporation (“OPIC”) for the latter’s political risk insurance policy to Apache Corporation (“Apache”). The policy was issued to …

January 28, 2015 From the Americas to Asia-Pacific, Recognition Includes Award for the Best Card Solution  NEW YORK – Bank of America Merrill Lynch was recently named winner of eight awards by financial trade publication, “Treasury Management International (TMI),” in its annual Awards for Innovation & Excellence in Treasury. Topping the recognition list for the firm’s Global Transaction Services (GTS) …

Abu Dhabi (26th January, 2015): The National Bank of Abu Dhabi (NBAD), the safest bank in the Middle East and the Emerging Markets, has today published its ‘Global Investment Outlook – 2015’, written by Gary Dugan, Global Wealth Chief Investment Officer and Head of Investment Strategy, assisted by a team of experts at NBAD. The Report says, “The financial system …

Hosted service provides simple, cost-effective compliance with sanctions regulations Brussels, 13 January 2015 – SWIFT announces the extension of its Sanctions Screening service to support all messages used in financial transactions, regardless of format or financial network. Users can now screen all transaction formats, including SEPA (Single European Payments Area) and Fedwire payments, and transactions sent over networks other than …

Abu Dhabi ( January 11th, 2015): The National Bank of Abu Dhabi (NBAD) has appointed Omar Mehanna as Managing Director and Global Head of Merchant Banking. In his position, Mr. Mehanna will be responsible for the corporate finance, equity capital markets, project finance and debt advisory platforms. He will lead the continued development and implementation of strategy for NBAD relating …

Leading specialist financier hires new CFO, Nick Gowlland Falcon Group is pleased to announce the appointment of CFO, Nick Gowlland, whose responsibilities will include oversight of the Group’s finance function, reporting and treasury operations. Having previously held positions at ABN AMRO, N M Rothschild & Sons and Standard Chartered Bank – where he was a Managing Director of the Strategic …

A partner of Dubai’s leading retail event since it began in 1996, Visa strengthens commitment to enhance the electronic payments ecosystem in the region 1.9 million Visa cards used for 9.8 million transactions during DSF 2014; International visitors spent US$578 million in UAE with Visa cards[i] Top 3 spend categories at DSF 2014 were Clothing, Retail and Lodging Dubai, U.A.E.: …

Low oil prices, a short-term concern; demand to grow in the medium to long term Good opportunity to de-subsidise energy and economic reforms Panel comprised Tan Sri Rastam Mohd Isa of the Institute of Strategic & International Studies, Sarawak Energy’s Datuk Torstein Dale Sjotveit, Anthony J Jude from The Asian Development Bank and Marc Mollema of NBAD Abu Dhabi, UAE, …

New project win to build an innovative solution for domestic payments in Australia is the first major milestone for the cooperative Dubai, 3 December 2014 – SWIFT announces plans to develop real-time retail domestic payment solutions. SWIFT is creating an offering that allows domestic retail payments to be made instantly between financial institutions and their customers’ accounts. SWIFT’s first delivery …

H.E. Rasheed Mohammed Al Maraj, Governor of the Central Bank of Bahrain, inaugurates the 21st annual  edition of the World Islamic Banking Conference (WIBC 2014). Baroness Sayeeda Warsi of the House of Lords delivers a special keynote address on the UK story of Islamic finance. Industry pioneer, Professor Datuk Rifaat Ahmed Abdel Karim engages in an onstage interview on the …

Manama, Kingdom of Bahrain, Monday 1st  December 2014 – The International Islamic Financial Market (IIFM) released its much awaited IIFM Sukuk Report (4th Edition) at IIFM Seminar held today on the pre-conference day of the 21st World Islamic Banking Conference. The research report consists of a comprehensive study of the global Sukuk market and sheds light on the growth, trends …

The 21st Annual World Islamic Banking Conference (WIBC 2014) to open on the 1st of December with a pre-conference seminar hosted by the International Islamic Financial Market (IIFM) WIBC 2014 confirms a powerful line-up of speakers including H.E. Rasheed Mohammed Al Maraj, Governor, Central Bank of Bahrain; Baroness Sayeeda Warsi of the UK House of Lords;  Nurlan Kussainov, Deputy Governor, …

The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group, signed a Guarantee Agreement with the Ministry of Economy and Finance, represented by H.E the State Secretary for Development and International Cooperation and a US$300 million Murabaha Agreement with the Tunisian Refining Industries Company(STIR). This agreement is the result of a Framework Agreement signed between …