Press Releases

June 4, 2013 NEW YORK – Bank of America Merrill Lynch’s strong performance in global trade and supply chain finance has been recognized throughout the industry, highlighted recently by a number of key awards. Reflecting the opinions of prestigious financial trade publications and their readers, these industry awards underscore Bank of America Merrill Lynch’s market-leading offering in supporting its clients …

MAY 2013 Supply Chain Finance reveals high-growth trajectory according to latest Demica research Supply Chain Finance (SCF) has continued to exhibit strong growth in the last two years, according to latest research from Demica, which reveals average annual SCF growth rates between 30% and 40% at major international banks. The SCF market is expected to continue to expand strongly to …

In collaboration with The Association des Credits d’Assurance au Liban (LCI), the Secretariat General of AMAN UNION organized the 3rd technical training program for the staff of Arab and Islamic Countries’ ECAs. It took place at LCI premises in Beirut this year. The theme of the training program was, “Claims Recovery & Management, Political Risk Insurance and Early Warning System”. …

Amsterdam 31 May 2013 – Deutsche Bank today announced that it has successfully completed the refinancing of a €122.5 million Structured Commodity Trade Finance facility for Travi e Profilati di Pallanzeno (TPP) to finance the working capital needs of the Italian steel company. Despite challenging market conditions, the syndication attracted significant attention from the international lending market and was over-subscribed. The …

Noor Islamic Bank Launches Noor Trade Initiative to Service SME Sector First dedicated Noor Trade branch starts operations in DMCC; second dedicated branch to open in Deira Dubai-UAE, May 28, 2013: Noor Islamic Bank (Noor) is targeting AED 5bn of lending to small and medium enterprises (SMEs) over the next five years with the launch of Noor Trade, an innovative, …

Press Release 22 May 2013 Dushanbe, Republic of Tajikistan, The 20th ICIEC’s Board of Governors Annual Meeting ICIEC supports investments and exports in its member countries by more than USD 3 Billion in 2012 Under the auspices of the President of the Republic of Tajikistan, the Board of Governors of the Islamic Corporation for the Insurance of Investment and Export …

Invesco Asset Management Limited today released its fourth annual Invesco Middle East Asset Management Study. The survey looks at the attitudes and behaviours of institutional and retail investors across the GCC region. Invesco opened its Dubai office in 2005, and has been working with GCC clients for decades, offering financial institutions and investment professionals access to global investment expertise. According to …

20th May, 2013 2013 Invesco Middle East Asset Management Study 20% of Sovereign Wealth Fund new assets allocated to private equity Property and infrastructure are not the big SWF ‘alternative investment’ story Major sovereign governments and sovereign wealth funds (SWFs) in the Middle East are increasingly considering new private equity models for investment, according to the fourth annual Invesco Middle …

20th May, 2013 2013 Invesco Middle East Asset Management Study ‘South-South’ trade in action – local investment opportunities drive Indian, Russian and Chinese capital into UAE The United Arab Emirates (UAE) is the key beneficiary of private capital flow into the Gulf Cooperation Council (GCC) region, according to the fourth annual Invesco Middle East Asset Management Study1, with capital from …

Senior executive leaders from the Islamic banking and finance industry representing high-growth markets across Asia, the Middle East and beyond to gather in Singapore at the 4th Annual World Islamic Banking Conference: Asia Summit (WIBC Asia 2013) to address the challenges and opportunities in the increasingly global footprint of Islamic finance Singapore: 20th May 2013: More than 480 leading industry …

Islamic Funds and Investments Industry Witnesses Rapid Global Expansion Global Sukuk Market Expected to Grow More than 140% to Reach $292 billion in Issuances by 2016 More than 400 international Islamic funds and investment leaders to gather at the 9th Annual World Islamic Funds and Financial Markets Conference to Discuss New Strategies on Boosting the International Growth of Islamic Capital …

Offered as a standalone installation or as an add-on-feature to the normal en.SafeWatch Profiling solution by EastNets, the en.SafeWatch FATCA is also being developed to meet other countries’ taxation laws in the future aside from supporting tax evasion regulations in the US. Hazem Mulhim, CEO EastNets, said, “The en.SafeWatch FATCA has been developed to provide a practical and easy-to-use solution …

VisaVue Data shows total number of transactions went up by 20 per cent year on year Saudi Arabia visitors spend $420 million on Visa cards in UAE in 2012 Dubai, May 6, 2013 – Visa cardholders spent $4.7 billion on their cards while visiting the UAE in 2012, a 17.1 per cent increase compared to the previous year, according to …

(May 1st, 2013, New York, USA) – CICC Investment Management (USA), Inc. and PineBridge Investments LLC (“PineBridge”) announced the launch of the first global fund of hedge funds (“Fund”) on April 1 targeting qualified Chinese investors. The launch of the global fund of hedge funds demonstrates the strategic decision of CICC Investment Management (USA)’s parent company, China International Capital Corporation …

London, April 30, 2013 Christian Behaghel is appointed head of Global Transaction Banking and deputy head of Global Transaction & Payment Services starting from May 2, 2013. He will report to Pascal Augé, head of Global Transaction & Payment Services. In his new role Mr Behaghel’s main objective will be to drive Societe Generale GTB’s development strategy by supporting its …

United States ranks as top destination for global travellers Saudis top the global spenders’ list Dubai, April 28, 2013 – Visa’s latest Global Travel Intentions Study 2013 has revealed that global cross-border tourism is thriving and travellers intend to increase budgets for their next trip by an average of five per cent – with some holidaymakers even suggesting that they …