Letter from the editorial director

World trade splutters back to life

UAE set to host global business blockbuster

Profits up at Arab Bank

New cross-border payments system

Barclays beefs up its MENA team

New direct debit services partnership

How to reach out to the unbanked

Banking giant backs MENA’s Asian trade

Funding grows for Middle East trade sector

The trade finance lever now being pulled more frequently

Forward thinking pays dividends

MENA’s corridors of power

Wanted: millions of extra customers

Letter from the editorial director

02 September 2014

Dear Reader, Millions of potential customers await those banks prepared to put the effort into developing economies. The realisation that there are huge swathes of what are termed “the unbanked” has woken up banking operations in rapidly developing countries and they are now showing renewed interest in reaching out to those potential new account holders […]

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Posted in Issue 29 September / October 20140 Comments

World trade splutters back to life

02 September 2014

International trade growth has dropped drastically compared to those years before the global financial crisis but is now hesitantly picking up, according to Global Survey 2014, the largest and most comprehensive International Chamber of Commerce (ICC) report to date, which includes data from 298 banks across 127 countries. Survey highlights include: Lack of available trade […]

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Posted in Issue 29 September / October 2014, News Round0 Comments

UAE set to host global business blockbuster

02 September 2014

The UAE is preparing to host Global Trade Development Week EMEA, which will see an unprecedented gathering of influential business and government leaders, entrepreneurs and academics from more than 70 countries. The event, which is the world’s largest trade facilitation, development, investment and customs programme, will be held in Emirates Towers, Dubai, from 27 until […]

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Posted in Issue 29 September / October 2014, News Round0 Comments

Profits up at Arab Bank

02 September 2014

Arab Bank Group’s net profit after tax and provisions during the first half of 2014 grew by seven per cent to $414.9m from $387.3m in the same period last year. Loans and advances also increased, by four per cent, to reach $23.7bn compared to $22.9bn on June 30, 2013. Also, customer deposits grew by $1.7bn […]

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Posted in Issue 29 September / October 2014, News Round0 Comments

New cross-border payments system

02 September 2014

Bank of America Merrill Lynch 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 utilising CashPro can now transact low-value cross-currency payment into 29 countries, at the same time benefiting from reduced costs and improved efficiency. “We’re pleased to add this […]

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Posted in Issue 29 September / October 2014, News Round0 Comments

Barclays beefs up its MENA team

02 September 2014

Barclays continues to grow its MENA team with the appointment of Jeroen Reyes Stolker as head of trade and working capital for the Middle East. Reporting to Baihas Baghdadi, managing director, head of trade and working capital international at Barclays, Stolker will support clients with their business needs by providing end-to-end trade and working capital […]

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Posted in Issue 29 September / October 2014, News Round0 Comments

New direct debit services partnership

02 September 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  announced a partnership whereby Citi UAE will provide direct debit services to Now Health International as a collection channel for their insurance premiums. The […]

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Posted in Issue 29 September / October 2014, News Round0 Comments

How to reach out to the unbanked

02 September 2014

The question of how banks can use digital technology and partnerships to facilitate the delivery of financial services on a sustainable basis to those on the lowest incomes will be the subject of a talk by the Microsoft founder at this year’s Sibos. PAUL MELLY looks at what’s on the agenda When Bill Gates gets […]

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Posted in Issue 29 September / October 20140 Comments

Banking giant backs MENA’s Asian trade

02 September 2014

For the finance teams in major businesses and the banks that serve them, the SIBOS conference is a key moment in the calendar — a launch-pad for new thinking on payment, treasury systems, cash management and technology. What is debated there has a direct impact on top Gulf companies trading internationally. PAUL MELLY reports on […]

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Posted in Issue 29 September / October 20140 Comments

Funding grows for Middle East trade sector

02 September 2014

Export credit agencies are continuing to provide strong support to MENA projects as well as supplying classic trade financing products to the region. MELANIE LOVATT reports While there was no Sadara deal this year – last year export credit agencies (ECAs) provided more than 50 per cent of the giant $20bn Saudi Arabian petrochemical project’s […]

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Posted in Issue 29 September / October 20140 Comments

The trade finance lever now being pulled more frequently

02 September 2014

The annual growth rate for supply chain services averaged between 30 per cent and 40 per cent for global banking institutions in 2011-2013, according to a survey by international consultants Demica. In the atmosphere of tight corporate credit over the past few years, Supply Chain Finance (SCF) has become an increasingly attractive and important working […]

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Posted in Issue 29 September / October 20140 Comments

Forward thinking pays dividends

02 September 2014

Banks cite regulatory compliance as one of their top priorities, and most focus on current regulations such as Basel III. However, trends are showing change as regulators start to shift their focus forward. RICHARD HARTUNG speaks to John Foulley, director of financial services analytics at Oracle, to find out more about how banks can respond […]

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Posted in Issue 29 September / October 20140 Comments

MENA’s corridors of power

02 September 2014

The world’s Great and the Good of the financial world inevitably call in on the Islamic Development Bank Group when visiting Saudi Arabia. Since it started operations in 1975, the organisation has approved financing of development projects and intra-Islamic trade totalling some $100bn. But, as MUSHTAK PARKER explains, it now faces questions on what to […]

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Posted in Issue 29 September / October 20140 Comments

Wanted: millions of extra customers

02 September 2014

Banks in rapidly developing economies are showing renewed interest in payment models for the unbanked as the technological pace of change in those markets accelerates rapidly compared with developed markets Over the coming decade the dynamics of payments markets in rapidly developing economies (RDEs) will shift dramatically toward the financial inclusion of the unbanked, the […]

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Posted in Issue 29 September / October 20140 Comments

Issue 29 September / October 2014

01 September 2014

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Posted in Issue 29 September / October 20140 Comments

Letter from the editorial director

06 July 2014

Dear Reader, If competition is healthy, as most generally agree, then the UAE is at a peak of fitness! Currently, the Emirates are being seen as a “battleground” where international and domestic banks are displaying their respective wares in a bid to win new trading customers, all to the benefit of local corporates. As we […]

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Posted in Issue 28 July / August 20140 Comments

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