Trade

More than 38 per cent of those in the Middle East who responded to an economic crime survey said they expected their organisations to be victims within the next two years. PAUL WRIGHT, of AccessData Professional Services and Investigations, looks at how companies can cope in the ‘digital world’ The Middle East is fast becoming a prime target of cyber …

The Islamic Corporation for the Development of the Private Sector is at the forefront of a massive drive to support SMEs. MUSHTAK PARKER reveals who will benefit Due to celebrate its 15th anniversary in 2015, the Islamic Corporation for the Development of the Private Sector (ICD), the private sector funding arm of the Islamic Development Bank (IDB) Group, is a …

BNY Mellon, a global leader in investment management and services, has announced the beginning  of a new era in its treasury business with the launch of a new global payments infrastructure. It is designed “to deliver significantly enhanced levels of processing efficiency, reliability, transparency and cash management oversight”. Focused initially on euro clearing capabilities for BNY Mellon’s global clients, it’s …

Arab Bank was recently honoured with the Best Trade Finance Provider in the Middle East  award from Global Finance magazine at the Bankers’ Association for Finance and Trade (BAFT) and the International Financial Services Association (IFSA) global annual meeting in London. Nemeh Sabbagh, Arab Bank’s CEO, commented, “Arab Bank plays an integral role in facilitating trade across the Middle East …

Against the backdrop of a slowly improving economy, corporates are once again focusing on growth. And the benefits of emerging markets are hard to ignore. Citi’s AMIT AGARWAL, treasury and trade solutions, liquidity management services head, EMEA; SYBIL CRASTO, treasury and trade solutions, MENA and Pakistan; and DIMITRIOS RAPTIS, treasury and trade solutions, liquidity management services market management head, EMEA, …

Transaction banking – what’s next? MENA banks face major challenge Banks across MENA face a major technical and management challenge if they are to remain a force in the fast-evolving environment of today’s transaction banking – particularly if they want to hang on to their biggest clients. PAUL MELLY investigates what’s changing  Research by the financial software group Misys reveals …

Trade finance: eliminating the mystery International trade: ‘the time’s come for simplicity’ International trade and investment requires a way forward that is grounded in a nuanced and finessed understanding of international affairs, including business, trade and investment. ALEXANDER R. MALAKET, president of OPUS Advisory Services International Inc., looks at why the ‘veil of complexity’ should be lifted The financing of international …

UAE banks aid smaller firms Bid to bolster growth for SMEs Many of the Gulf’s banks are renewing their focus on small-and-medium-sized enterprises and believe that this often-neglected sector could provide a good vehicle for growth. MELANIE LOVATT looks at its prospects Studies show that SMEs in MENA have continued to lack access to financing but that is changing. A …

Dubai Islamic finance aspiration Emirate aims to become Islamic economy’s global capital MUSHTAK PARKER looks at how Dubai is ramping up its bid to be the hub of Islamic finance The ink had hardly dried on Law No 13 of 2013 – the enabling legislation which was issued last December by Sheikh Mohammad bin Rashid al Maktoum, Vice President and …

New global trade flows Profiting from the rise of Asia The balance of global production and trade has swung back in Asia’s favour, ‘traversing another historic tipping point’. MICHAEL GUO and OLIVER DANY, of the Boston Consulting Group, look at how corporate treasurers and banks can capitalise on this fact Until about 1800, Asia contributed approximately 50 per cent of …

When it comes to international business, MENA is punching below its weight. MELANIE LOVATT looks at why that is and what could be done to correct the position MENA countries have furthered their integration into the global trade system over the past decade, but they still have considerable work to do to improve their position. Of course, crude oil is …

The Indian steel and manufacturing company Jindal Saw received an order worth $168m from Iraq, with another potential order of $150m provided the quality of goods supplied under the first contract was of an acceptable standard. However, Jindal Saw’s senior management was not keen to supply material to Iraq without assurance on the payment, due to limited control after supplying …

This year, as it celebrates two decades of outstanding success, ICIEC has designed a new strategy focusing more on investment insurance and project finance. But, at the same time, it will naturally continue to underwrite its export credit insurance business, which it sees as an essential part of its mandate to support the exports of its member countries The Islamic …

The Basel Committee believes that a simple, non-risk based ‘backstop’ measure will restrict the build-up of excessive leverage in the banking sector to avoid destabilising An underlying cause of the global financial crisis was the build-up of excessive on-and-off- balance-sheet leverage in the banking system, according to the Basel Committee. It said that “in many cases banks built up excessive …

In a question-and-answer response to Cash&Trade, the World Bank urged MENA to consider the benefits of trade reform C&T: What reforms do you think need to be made across MENA to better facilitate trade? WB: The region’s share in total world exports of non-oil goods has remained flat at around two to three per cent for more than 30 years. …

Banking nowadays is more about how innovative the funding structure can be, rather than the proverbial ‘offering the best service’. This is the view of a leading Gulf investment house, which explains its rationale to PAUL MELLY As global economic recovery takes hold, the Gulf’s major companies are gearing up to seize fresh opportunities – but it is vital to …