Jeddah June 3rd, 2015 Under the patronage of the President of Mozambique H.E. Filipe Nyusi; the Board of Governors of the Islamic Corporation for the Insurance of Investments and Export Credit (ICIEC) is going to held its 22nd Annual Meeting in Maputo, the capital of Mozambique on June 11, 2015; in conjunction with the 40th Annual Meeting of the Islamic …

SWIFT’s KYC Registry will now address compliance challenges for funds distribution and custody services as a first step in broadening compliance services to its securities community Brussels, 28 May 2015 – SWIFT announces that The KYC Registry is now available to fund distributors and custodians. In response to an identified need within its Community, SWIFT is extending the reach of …

GTDW launches a strategic partnership with China New Silk Road Investment Association to promote Global Trade Development Week, the UAE mega-trade event held under patronage of UAE Ministry of Economy Xian China – 24th May 2015 – The Global Trade Development Week (GTDW) team led by Ms. Ayesha Alkobaisi, Director of International Trade Organisations at the UAE Ministry of Economy …

The Board of Directors of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of the Islamic Development Bank (IDB), cleared the Annual Report and the financial statements for 1435H, at its recent meeting held in Jeddah. The Board recommended that the financial results and the annual report be submitted for approval to the 22nd …

Dear Reader, The future for transaction banking in MENA is looking good, according to a number of Middle Eastern bankers, who recently discussed how banks in the region could grow their share of global revenues by at least 25 per cent. They were among 68 senior executives who gathered at iGTB’s client advisory event in Dubai to explore the challenges …

Innovation and diversification have provided sustained and significant global growth opportunities for Sukuk and the investor base is expected to widen dramatically in the coming years. This was one of the conclusions announced when the National Bank of Abu Dhabi (NBAD) and CNBC, the business and financial news network, hosted an international panel of leading Islamic finance experts to discuss …

Qatar National Bank (QNB) is looking forward to exploring potential opportunities arising from the establishment of the first Middle East “clearing hub” for Chinese currency. The regional clearing hub concept was one of the key provisions of the financial agreements signed between Qatar and the People’s Republic of China following talks between the countries last year. With the clearing centre …

Middle East banks are set to increase their share of global transaction banking revenues by at least 25 per cent, according to a survey conducted by iGTB, the world’s first complete transaction banking platform. The iGTB Middle East Client Advisory Event brought together 68 elite industry thought leaders for a conference on The decade of Transaction Banking: What share of …

PAUL MELLY speaks to a top Saudi finance chief who would like to see banks provide a trio of improvements This is an interesting time for the Saudi Arabian economy. With oil prices sharply down, the Kingdom must rely on the deeper strengths and diversity it has built up over the past three decades. It is a country with huge …

ALEXANDER R. MALAKET, president of OPUS Advisory Services International Inc. and author of Financing Trade and International Supply Chains, looks at transformational competition in the financing of international trade Trade finance has been in existence for a very long time, so long in fact that one might have argued justifiably until about 2005 that the industry suffered from several decades …

Jon Richman, head of Trade and Financial Supply Chain Americas, Global Transaction Banking, Deutsche Bank, discusses the importance of one day’s workflow and the value that financial supply chain solutions can bring As recently as 15 years ago, the market was still beginning to become acquainted with financial supply chain programmes (FSC); then came an era of economic turbulence and …

CHRIS DARK, president, international, C2FO, looks at a finance problem that has now attracted the attention of politicians Economies currently suffer from the paradox of having too much liquidity in certain areas, while having too little in others. Banks, awash with cash, are reluctant to accept deposits; larger corporations are stockpiling cash but running out of options of where to …

Representatives of 18 Middle Eastern banks, from the UAE, Jordan, Saudi Arabia and Qatar, recently discussed the outlook for transaction banking in the region, and how they can grow their share of global revenues by at least 25 per cent   Sixty-eight senior bankers from across the Middle East gathered at iGTB’s client advisory event at the Park Hyatt in …

In contrast to some other MENA economies, Saudi Arabia continues to have a positive balance of trade and growth momentum. CAROLINE MAGINN reports on what has been another record year Trade finance and corporate banking in the KSA had another record year in 2014 with total trade-related contingent liabilities and corporate assets, liabilities, operating income and net income all registering …

MUSHTAK PARKER, reports on an industry very much on the up These are exciting times for the estimated $2.2 trillion global Islamic financial industry. First, it was the Basel Committee for Banking Supervision, which in 2013 okayed for the first time qualifying Sukuk to be included in the High Quality Liquid Assets (HQLA) universe under its Liquidity Coverage Ratio (LCR) …