Offered as a standalone installation or as an add-on-feature to the normal en.SafeWatch Profiling solution by EastNets, the en.SafeWatch FATCA is also being developed to meet other countries’ taxation laws in the future aside from supporting tax evasion regulations in the US. Hazem Mulhim, CEO EastNets, said, “The en.SafeWatch FATCA has been developed to provide a practical and easy-to-use solution …

Current issues facing treasury and other finance professionals in the MENA region were discussed at EuroFinance’s 11th annual conference on Trade, Treasury and Cash Management in the Middle East, held in Dubai. Among key findings reported were the following: Treasury and finance professionals in the Middle East are very confident about the prospects for their business over the coming year. …

Growth in the use of electronic payment products, such as credit and debit cards, added approximately $18bn to economies in the Middle East and Africa [MEA] region, according to a study conducted for Visa by Moody’s Analytics, a leading independent provider of economic forecasting. A study of 56 countries, including the MEA region, that represent 93 per cent of global …

The National Bank of Abu Dhabi (NBAD) has appointed Alex Thursby as group chief executive with effect from 1 July in succession to Michael Tomalin, who is retiring. Thursby is currently CEO of the international and institutional banking division of ANZ. Over the past five years he has been responsible for devising and executing the strategy for ANZ’s significant growth …

The MECA Regional CFO Conference held in Dubai this year was organised around the theme “Enterprise Performance Management in the Middle East – Challenges and Opportunities” and attracted a number of prominent speakers. This by-invite only event is expected to draw 200+ CFOs and Senior Finance Executives from diverse industries in UAE, KSA and other Gulf countries. The Middle East …

Large corporates are showing increasing demand for distributor finance (DF) programmes to enable downstream business in international supply chains, especially in emerging markets. In parallel, global banks are confirming their growing interest in offering DF solutions to their clients. These are the findings of Demica’s latest qualitative research on the distributor finance market, conducted amongst a sample of international enterprises …

As economies in the Middle East continue to grow and diversify, supply chain finance can provide a crucial source of funding while delivering benefits for both buyers and sellers, explains FARAZ HAIDER, managing director, trade head, Middle East and Pakistan, for Citi The Middle East’s economic prospects are impressive – especially compared to the weak growth being experienced in much …

Committed trade financiers in the GCC were rewarded by their customers in 2012. But what will they be doing for their clients in 2013 to return that loyalty? CAROLINE MAGINN looks at the answer to that question Many banks, around the region, reflected growth in their trade finance business in 2012. For example, Arab National Bank and Bank Bilad in …

The 2013 Global Financial Markets Forum (GFMF), the fifth annual event of its kind, continued with its reputation as the region’s unrivalled platform for discussing and debating the globe’s most pressing and critical issues Keynote speakers such as H.E. Sheikh Nahyan Mubarak Al Nahyan, the UAE Minister of Higher Education and Scientific Research; and H.E. Sultan Bin Nasser Al Suwaidi, …

MUSHTAK PARKER looks at a bid to help financial institutions manage short-term liquidity and ‘to park their capital reserves requirements on a Shariah-compliant basis’ The imminent issuance of a multi-million lira sovereign domestic Sukuk issuance by Turkey’s Under-Secretariat of the Treasury and the actual issuance of a QR1bn domestic Sukuk in March by the Central Bank of Qatar (CBQ) mark …

Gulf banks are well placed to step into the trade financing gap left by the retreat of some major international names. PAUL MELLY explains Trade finance – historically low risk and often secured against goods of proven market value, a useful source of fees in sluggish times and a chance to gain from growth as soon as activity does pick …

Having emerged relatively unscathed from 2008’s global financial crisis, Turkey is now fast becoming a new international finance centre for the Middle East. Here, CIHAT TAKUNYACI discusses the ramifications of the country’s re-emergence as a global player because of its domestic banking sector All eyes are now on Turkey. The country has been growing at above eight per cent for …

VisaVue Data shows total number of transactions went up by 20 per cent year on year Saudi Arabia visitors spend $420 million on Visa cards in UAE in 2012 Dubai, May 6, 2013 – Visa cardholders spent $4.7 billion on their cards while visiting the UAE in 2012, a 17.1 per cent increase compared to the previous year, according to …

(May 1st, 2013, New York, USA) – CICC Investment Management (USA), Inc. and PineBridge Investments LLC (“PineBridge”) announced the launch of the first global fund of hedge funds (“Fund”) on April 1 targeting qualified Chinese investors. The launch of the global fund of hedge funds demonstrates the strategic decision of CICC Investment Management (USA)’s parent company, China International Capital Corporation …

London, April 30, 2013 Christian Behaghel is appointed head of Global Transaction Banking and deputy head of Global Transaction & Payment Services starting from May 2, 2013. He will report to Pascal Augé, head of Global Transaction & Payment Services. In his new role Mr Behaghel’s main objective will be to drive Societe Generale GTB’s development strategy by supporting its …