Dubai and Paris, 16th September 2013 Emirates NBD to join STEP1 payment service Third participant from the Middle East connecting to STEP1 EBA CLEARING announced today the formal application of Emirates NBD for connection to the STEP1 Service. Emirates NBD, one of the largest banking groups in the Middle East in terms of assets, will start sending and receiving STEP1 …

  69 percent cite operational inefficiencies as a barrier to growth in core businesses Cross-border payments processing the top priority for investment globally 84 percent said that increasing payments processing efficiency was a top priority 56 percent said streamlining the trade finance business was key to future growth APAC region has highest potential for corporate banking growth 16 September 2013 …

EastNets to kick off Sibos 2013 with two specialized sessions on FATCA and SEPA compliance     Two of the industry’s hot topics this year are covered by EastNets solutions September 16, 2013 EastNets, a leading global provider of compliance and payments solutions and services, has confirmed that it will be conducting two key sessions during this year’s Sibos, the world’s …

New name reflects solution focus and cross-vertical client set as the company positions itself for the next phase of growth DUBAI – 16 September, 2013 – Accuity was unveiled today as the new brand of legacy organisation BankersAccuity, owned by Reed Business Information and part of Reed Elsevier. Headquartered in Chicago, Accuity is a global organisation that supports financial services …

helping clients reach out to Asia As part of Lloyds Banking Group’s commitment to support UK trade flows we are pleased to announce a partnership with Standard Chartered Bank which will enhance the experience for clients importing from Asia. Utilising Standard Chartered’s on the ground capabilities will enable Lloyds Bank to directly issue import letters of credit locally in 20 …

Standard Chartered Participates at SIBOS 2013 in Dubai The impact of West to East shift in trade growth an overarching theme of client conversations Highlights: Emerging markets trade corridors to constitute 40% of Global trade by 2030 Working Capital efficiency increasing critical to treasury management in volatile markets  The RMB is now a mainstream currency; trade settlement in RMB forecasted …

Temenos announces launch of ground breaking payments hub TPS to provide true product flexibility in real-time around centralised infrastructure GENEVA, Switzerland – 11 September 2013 – Temenos (SIX: TEMN), the market leading provider of mission critical solutions to the financial services industry, today heralds a new dawn in global payments processing with the launch of its new payments hub, Temenos Payment …

EastNets to focus on FATCA and Single Euro Payment Area at Sibos 2013  September 11, 2013 EastNets, a leading global provider of compliance and payments solutions and services, has revealed that it will be conducting two key sessions during this year’s Sibos, the world’s premier financial services event running from September 16 to 19, 2013 at the Dubai World Trade …

Brussels and Dubai, 11 September 2013 – The Dubai Commodities Clearing Corporation (DCCC) has become the first central counterparty (CCP) in the Middle East to join Euroclear’s global Collateral Highway. The DCCC guarantees settlement for all trades executed on the Dubai Gold & Commodities Exchange (DGCX), which is supported by a system of initial and variation margins. Scheduled for full …

Clearstream Services IT and EastNets join forces to offer SEPA in SaaS mode September 10, 2013 Clearstream Services IT, the leading provider for IT Managed Services and on-demand financial solutions, has joined forces with EastNets, the leading global provider of compliance and payment solutions for the financial industry, to offer a Single Euro Payments Area (SEPA) solution in SaaS mode. …

Misys tops five categories in Asia Risk Technology Rankings 2013 Misys shows leading capability in providing trading and risk management solutions to its Asia Pacific clients  10 September 2013 – Misys, the global application software and services company, is pleased to announce that it has won first position in five categories in the Asia Risk Technology Rankings 2013. Misys topped …

9 September 2013 At their meeting in Basel today, the central bank governors of the Global Economy Meeting (GEM)[1]appointed Benoît Cœuré as Chairman of the Committee on Payment and Settlement Systems (CPSS). Mr Cœuré is a member of the Executive Board of the European Central Bank (ECB). The CPSS is a central bank forum that contributes to strengthening financial markets by promoting …

Al Hilal Bank becomes the only Islamic bank in the UAE to be rated A1 by Moody’s & A+ by Fitch Global credit rating agencies extended progressive Islamic bank stable long-term outlook September 09, 2013 Al Hilal Bank has announced that it has been awarded an A1 rating by Moody’s and an A+ by Fitch, the highest ratings awarded to …

Dear Reader, This is a landmark year for MENA in that the world’s premier financial services event is for the first time being staged in the Middle East. The success of Sibos can be seen in a snapshot: a mere 300 people attended its first outing in Brussels but now, 35 years on, some 7000 participants are expected to gather …

Global growth is projected to remain subdued at slightly above three per cent in 2013, the same as in 2012, according to the IMF. This is less than forecast in the April 2013 World Economic Outlook (WEO), driven to a large extent by appreciably weaker domestic demand and slower growth in several key emerging market economies, as well as a …

Economic growth in the Middle East and North Africa will moderate to 3.1 per cent this year before recovering to 3.7 per cent in 2014, the IMF said in its recent economic outlook for the region. The expected slowdown – which follows growth of 4.7 per cent in 2012 – will be driven by scaled-back oil production in countries exporting …