Press Releases

Dubai, UAE, August 19, 2014 Citi UAE, the leading provider of cash management and trade services in the MENA region and Now Health International, an international health insurance provider with regional services in the UAE, have today announced a partnership, whereby Citi UAE will provide direct debit services to Now Health International as a collection channel for their insurance premiums. …

Abu Dhabi/Washington D.C. (August 19, 2014) – The National Bank of Abu Dhabi (NBAD) has renamed its wholly-owned subsidiary in the Americas to NBAD Americas N.V. NBAD established the subsidiary in Curacao in 1979 as Abu Dhabi International Bank N.V., and launched a federal branch in the U.S. capital, Washington, D.C. in 1981. “NBAD Americas has been a great facilitator …

Dubai Customs partners with Global Trade Development Week to reduce international trade barriers Dubai Customs announces key strategic partnership in Global Trade Development Week 2014, the largest international trade event for business and government leaders Dubai, 02 July 2014 – Under the patronage of HE Sultan bin Saeed Al Mansouri, UAE Ministry of Economy, Global Trade Development Week 2014 will …

1H 2014 Highlights Net Profits were AED 2.8Billion, up 7.9% y-o-y Revenues wereAED 5.1 Billion, up 4.4% y-o-y Total Assets grew to AED 348.5Billion, up 6.7% y-o-y Loans were AED 181.7Billion, up 4.8% y-o-y Customer Deposits increased to AED 237.4 Billion, up 8.2% y-o-y Trade contingencies were AED 95.1 Billion, up 21.8% y-o-y Strong capital position with CAR at 16.2% …

London 22 July 2014 Deutsche Bank partners with Clearstream and Euroclear to bolster client collateral capabilities under T2S and beyond Deutsche Bank today announces a partnership with Clearstream and Euroclear to help clients consolidate, optimise and more efficiently assign their collateral inventory as part of the TARGET2-Securities (T2S) initiative. The partnership will provide clients with a single entry point from …

Arab Bank Group Profit rises by 7% in the first half July 16th, 2014 Arab Bank Group net profit after tax and provisions during the first half of 2014 grew by 7% to USD 414.9 million from USD 387.3 million in the same period last year. Loans and advances also increased by 4% to reach USD 23.7 billion compared to …

Dubai, United Arab Emirates: Barclays continues to grow its Trade and Working Capital team with the appointment of Jeroen Reyes Stolker as Head of Trade & Working Capital for the Middle Eastregion. Reporting to Baihas Baghdadi, Managing Director, Head of Trade & Working Capital International at Barclays, Jeroen will be responsible for leading the trade and working capital business for …

NEW YORK – Bank of America Merrill Lynch, a leader in global payments, has announced that a new payments capability is available on CashPro®Online, the company’s worldwide banking portal. Corporate and government clients of all sizes utilizing CashPro can now transact with low-value cross-currency payments, and realize reduced costs and improved efficiency through the CashPro Payments module. The new capability, launched …

Standard Chartered Saadiq inaugurates its first Islamic Banking Centre in the UAE The Bank aims to bridge the service and distribution gap between Islamic and Conventional Banking Dubai, United Arab Emirates, 06 July 2014 – Coinciding with the beginning of the Holy Month of Ramadan, Standard Chartered Saadiq, the Islamic Banking division of Standard Chartered Bank, inaugurated its first dedicated …

  TheInternational Chamber of Commerce (ICC) has today released theGlobal Survey 2014: Rethinking Trade and Finance, its largest and most comprehensive Global Surveyto date –including data from 298 banks across 127 countries. The Survey concludes that the growth rate of international trade has dropped drastically when compared to the years prior to the global financial crisis Survey highlights include:   …

  H.E. Sultan bin Saeed Al Mansouri, UAEMinistry of Economy, announces Global Trade Development Week 2014, the largest international trade event for business and government leaders Dubai, June 21 2014 – Global Trade Development Week EMEA will be an unprecedented gathering of influential business and government leaders, entrepreneurs and academics from over 70 countries. The event, which is the world’s …

Abu Dhabi (July 2nd , 2014) – The National Bank of Abu Dhabi (NBAD) has launched the Cash Plus Fund, a fund designed to offer liquidity, capital preservation and yield enhancement. The NBAD Cash Plus Fund allows investors to benefit from higher rates than conventional deposits and availing liquidity. The Fund; designed for corporates, institutions and high net worth individuals …

Press Release 19 June 2014 Global trade set to benefit from ICC report Released today, the International Chamber of Commerce (ICC) Trade Register Report 2014 provides empirical evidence that, in all forms, trade and export finance is a low risk bank financing technique – further supporting ICC’s advocacy of trade finance as a strong contribution to economic recovery and growth. …

Standard Chartered Bank Picked by Dubai Economic Council to Facilitate Trade and Investment Flows between Dubai and USA Standard Chartered Bank to assist in execution of Dubai Economic Council and US-EXIM Bank’s $5bn Memorandum of Understanding 19 June 2014, Dubai, United Arab Emirates – Dubai Economic Council (DEC) and Standard Chartered Bank have signed a MOU stipulating that Standard Chartered …

June 18, 2014 20th Years’ Anniversary Celebration of ICIEC ICIEC Organizes a Seminar on: “The Future Role of ICIEC in Supporting Trade and Investments In Member Countries” This year, The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) celebrates its 20 years Anniversary which coincides with the 40th Anniversary of its parent Islamic Development Bank, and at …

Abu Dhabi (June 15, 2014) –The National Bank of Abu Dhabi’s NBAD Sukuk Income Fund will pay to its investors a semi-annual distribution equal to 2.87% of the net asset value (NAV) ofUS$5.2532, being the NAV as at May 29, 2014. Accordingly, each unit in the Fund will receive a dividend pay-out of US$0.1510. The Fund earned interest equivalent to …