Press Releases

Johannesburg, South Africa, 07 November 2018 — The African Development Bank alongside Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), African Trade Insurance Agency (ATI) and GuarantCo, on Wednesday entered into a Memorandum of Understanding for a Co-Guarantee Platform (CGP). This initiative, the first of its kind and being promoted by the Bank, was signed on the …

Manama – 6 November 2018: National Bank of Bahrain (NBB) has received a special award from Citi Bahrain for the Bank’s leadership in the payment space. The Citi 2017 Performance Excellence Award is a prestigious honour presented to leading financial institutions worldwide, for achieving high rates of Straight- Through Processing (STP). NBB achieved a Treasury STP Rate of 99% and …

Marking Cooperation in Trade Development through the Arab-Africa Trade Bridges Program (Rabat, Morocco, 1 November 2018) – The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group (IsDB), has signed a memorandum of understanding (MoU) concerning cooperation in trade development and trade capacity enhancement. The cooperation forms part of ITFC’s Arab-Africa Trade Bridges (AATB) Program …

London, Frankfurt 18th October 2018 For technology to truly be transformative, further global regulatory alignment is needed, with any regulatory approach accepting the “new realities” created by emerging solutions. The emergence of new technology solutions relating to Open APIs, cloud, blockchain and artificial intelligence – and their uptake by the banking industry – has driven increasing volumes of digital data, …

8th October 2018 The long-term agreement will strengthen the breadth and analysis of the ICC Trade Register, the banking industry’s leading data source for risks in global trade and export finance Global Credit Data will oversee the collection of banks’ credit-related data, with the next Trade Register report to be released in early 2019 The International Chamber of Commerce (ICC) …

Sarajevo, Bosnia and Herzegovina, 29 September 2018 The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) won a prestigious award, the Global Islamic Finance Award (GIFA) for the Global Islamic Export Credit and Political Risk Insurance 2018. ICIEC was the finalist among a number of nominated organizations, which are well respected in the export credit and political …

New Deutsche Bank white paper argues that the technology and market infrastructure for creating a real-time treasury are now widely available London, Frankfurt am Main – 30 August 2018 The vision of a real-time treasury – incorporating not just instant payments, but real-time liquidity management, FX management and cash-flow forecasting – is rapidly approaching reality, according to Deutsche Bank’s white …

For the seventh consecutive year, Deutsche Bank has been voted No.1 cash management provider in Western Europe and No.1 in Germany. In total Deutsche Bank won seven No.1, four No. 2 and two No.3 positions and ranked amongst the top 7 in five more categories. “Defending our leading position in Europe and our home market Germany for seven consecutive years …

London, Frankfurt am Main – 10 September 2018 80% of treasurers believe they have the majority of skills required to meet the challenges of treasury’s technological transition, but survey responses suggest they are underestimating the importance of crucial technologies, such as APIs and robotic process automation The Economist Intelligence Unit’s report “The Future is Now: How ready is treasury?” written …

Corporate treasury has undergone incredible transformation over the last decade in the Middle East. The mission of the Association of Corporate Treasurers, to embed world class treasury standards and act as the profession’s leading advocate, has been at the forefront of supporting and empowering corporate treasurers during this period of unprecedented financial, business and technological change. The 10th annual ACT …

Dubai, UAE, July 30, 2018 14 banks sign up on this unique trade finance e-Marketplace Expanding to India, UK, Singapore and GCC soon UAE’s fintech company TRADEASSETS recently made news by announcing expansion into the Bangladesh market. The first trade finance e-marketplace of its kind for banks has received outstanding response from the world’s most active trade finance country. In …

 – The Group’s debt to equity ratio is among the lowest within Investment Banks at 11.5% [Manama, 29 July 2018]: GFH Financial Group (“GFH” or the “Group”) today announced that it has paid the entire amount of its US$200 million Sukuk, which was originally drawn in 2007. The facility, which was payable over several tranches with final maturity in July …

29 July 2018 Dubai, United Arab Emirates: Barclays announced today the findings of its Q3 2018 Compass Report, which outlines the Private Bank’s tactical recommendations on portfolio asset allocations for investors around the world. The report’s key takeaways note that the global economy is likely to continue to reward investment portfolios titled toward stocks. Barclays’ investment experts see stocks more …

-Over 200 industry leaders are expected to converge at the two-day summit in Dubai that will see a keynote address by H.E. Dr. Fahad Alshathri, Deputy Governor – Supervision, Saudi Arabian Monetary Authority. Dubai, UAE – July 19, 2018: Middle East Global Advisors, a leading financial intelligence platform spearheading the development of knowledge-based economies in the MENASEA markets, will convene …

A Partnership with CISL to Shape the Future of Innovation Sustainability London, United Kingdom, 11th July 2018: The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank Group, and the University of Cambridge Institute for Sustainability Leadership (CISL), an academic institution within the University of Cambridge that builds sustainability leadership capacity to tackle critical global challenges, join …

 July, 2018 Moody’s has affirmed ICIEC’s Insurer Financial Strength Rating (IFSR) rating of Aa3 with stable outlook for the 11th consecutive year on July 2nd 2018. The rating reflects ICIEC’s improved profitability and underwriting performance, as the combined ratio improved to 108% from 200% in 2016. Moody’s notes that the combined ratio for 2017 was the lowest ICIEC has achieved …