LISBON, 26 October 2016 – The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and the Korea Trade Insurance Corporation (K-sure) have signed a reinsurance agreement aimed at expanding mutual business opportunities. Under the agreement, ICIEC will reinsure commercial and political risks related to medium/long term export credit transactions, which involve Korean exporters and contractors selling capital …
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Global Trade Development Week 7.0 kicks off in Dubai
Event held under auspices of Ministry of Economy in cooperation with Federal Customs Authority Abu Dhabi, October 31, 2016 The 7th Global Trade Development Week kicked off today (Monday, October 31, 2016) and will run for three days until November 2 at the Jumeirah Emirates Towers Hotel in Dubai under the patronage of the Ministry of Economy in partnership with …
Read More »More than 100 countries are now using the RMB for payments with China and Hong Kong
SWIFT’s latest RMB Tracker shows that 57 countries have crossed the 10% RMB threshold Brussels, 27 October 2016 – The latest RMB Tracker shows that during the last two years (October 2014 – September 2016), seven new countries are now using the RMB for more than 10% of their direct payments by value with China and Hong Kong, bringing the …
Read More »CMA Credential Achieves Record Global Growth
DUBAI, United Arab Emirates, Oct. 25, 2016 – (ME NewsWire): IMA® (Institute of Management Accountants), the association of accountants and financial professionals in business announced a record-breaking growth of its flagship certification, the CMA® (Certified Management Accountant) credential in fiscal year (FY) 2016, ending June 30. The premier global management accounting certification reached a milestone of 50,000 holders since the …
Read More »Turkey and Mexico: Strengthening ties, leveraging opportunities
By Cihat Takunyaci, Managing Director, Country Manager for Turkey, BNY Mellon and Margaret Guevara, BNY Mellon Treasury Services’ Head of Sales and Relationship Management for Mexico and Central America Efforts to increase trade between Turkey and Mexico are gathering momentum – a trend fuelled by the global financial crisis. Indeed, the particularly detrimental effect of the crisis on their more …
Read More »Industry titans to keynote global Islamic finance event
Key regulators from leading markets all set to discuss important breakthroughs in the Islamic finance industry at WIBC 2016 Manama, Bahrain, 17 October 2016: The 23rd edition of the World Islamic Banking Conference (WIBC) will see a global participation with leaders from different regions across the world. The conference held in strategic partnership with the Central Bank of Bahrain will …
Read More »Standard Chartered Bank partners with Uber
Unique partnership offers Bank credit cardholders cashback for Uber rides in the UAE and across the world 12 October 2016, [UAE] – Standard Chartered Bank and Uber announced today a partnership that offers all Standard Chartered credit cardholders in the United Arab Emirates up to 20 per cent cashback for all Uber rides globally. Collaborating with Uber is part of …
Read More »Advanced discussions with the Central Bank of the UAE for the establishment of Emirates Trade Bank, specializing in international trade and commodity financing
Establishment of Emirates Trade Bank, a significant step towards transformation of Dubai as the Capital of Islamic Economy Dubai, 12 October 2016: The Dubai Islamic Economy Development Centre (DIEDC) is supportive of the initiative from the Department of Economic Development (DED) in Dubai to launch Emirates Trade Bank. His Highness, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown …
Read More »ITFC, Tunisian government sign US$310 Million framework agreement to support the energy sector
TUNIS — The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group, enters into a strategic framework agreement with the Government of Tunisia on Tuesday (Oct. 4) on the sidelines of the two-day MENA-OECD Ministerial Conference that opened Monday at Hotel Le Palace Gammarth in Tunis, Tunisia. The agreement was signed by Eng. Hani Salem …
Read More »ITFC, Tunisian government sign us$310 million framework agreement to support the energy sector
Tuesday, October 4, 2016 TUNIS — The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group, enters into a strategic framework agreement with the Government of Tunisia on Tuesday (Oct. 4) on the sidelines of the two-day MENA-OECD Ministerial Conference that opened Monday at Hotel Le Palace Gammarth in Tunis, Tunisia. The agreement was signed …
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Bank of America Merrill Lynch Wins Top Honours for Foreign Exchange and Treasury Services in EMEA Finance Treasury Services Awards 2016
29 September, 2016 LONDON – Bank of America Merrill Lynch has received three accolades across Foreign Exchange (FX) and Global Transaction Services (GTS) in EMEA Finance magazine’s Treasury Services Awards 2016. The awards, which were presented during a ceremony at Sibos in Geneva, are: Best Bank for Foreign Exchange Services in EMEA (fifth consecutive year). Best Bank for Foreign Exchange …
Read More »ITFC AND WTO DISCUSS THE FUTURE OF TRADE
Thursday, September 29, 2016 Eng. Hani Salem Sonbol, CEO discusses areas of cooperation with WTO and the future of trade with Roberto Azevêdo, Director General, WTO Geneva, Switzerland – On the sidelines of the WTO Public Forum, a meeting was held between Eng. Hani Salem Sonbol, CEO ITFC and the World Trade Organization (WTO), represented by Roberto Azevêdo, Director General, …
Read More »Standard Chartered Launched Direct Trading for RMB/ AED and RMB/SAR
29 September, 2016, Dubai – Standard Chartered Bank (China) Co. Ltd (“SCB China”) announced the successful launch of direct trading business for RMB/AED and RMB/SAR and the bank becomes the first batch of direct trading market-makers for RMB against AED and SAR in China’s inter-bank FX market. Sami Mahfouz, Head of Financial Markets UAE, said, “Standard Chartered has a broad …
Read More »Global Islamic Export Credit and Political Insurance Award 2016 Conferred on ICIEC
Press Release: October 02, 2016 JAKARTA — The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of the Islamic Development Bank Group (IDBG), is endowed with the acclaimed “Global Islamic Export Credit and Political Insurance Award 2016” in the annual Global Islamic Finance Awards (GIFA) ceremony held here (Jakarta) on September 29, 2016 under the …
Read More »SWIFT successfully completes first phase of global payments innovation initiative pilot
Global banks prepare for gpi go-live in early 2017 Sibos – Geneva, 28 September 2016 – SWIFT announces today it has successfully completed the first phase of the global payments innovation (gpi) initiative pilot, clearing the way for the go-live of the service in early 2017. During the pilot, 15 global banks representing more than 30 percent of cross-border payments …
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