Bank Audi has launched “Audi Cards On-line”, a new internet banking service that meets “today’s on-thego cardholder’s lifestyle”. It allows cardholders to “log in to their credit card information and check all their transactions and card movement within the comfort of their own homes”. They can also access this service anywhere, anytime, even through their mobiles. Mrs Randa Bdeir, group …

Investors have turned bearish in their outlook for the global economy and corporate earnings, according to the BofA Merrill Lynch Survey of Fund Managers published in July. The survey shows a net 12 per cent of respondents predicting the global economy will deteriorate in the coming year, the first negative forecast since February 2009. This represents a big turnaround from …

Dear Reader, How things change, as many a business has discovered since economies around the world rolled around unsteadily like listing ships and then sank into recession. Before the global financial crisis, companies took it for granted that banks would always be willing and able to provide additional funding as and when it was required, at a price. But it …

Maki Vekinis, Cash Management Matters – CMM Managing Partner, looks at the difference between vendor evaluation and selection of a cash management programme Following up from our previous article on vendor evaluation and selection of a cash management platform, we will now describe the differences between the two activities and why they should be kept apart and separate. In a …

CMM trade partner CAROLINE MAGINN explains why the company is proud to launch the Tajara Monitor (the”Tajara”) for teh Kingdom of Saudi Arabia (KSA) and the publication’s importance in the field of trade finance This is the first publication to the market that looks in depth at the trade finance market-place in the KSA and at its underlying drivers, namely: …

A new era in credit and political risk insurance is now being ushered in thanks to the ICIEC . MUSHTAK PARKER reports One of the unintended benefits of the global financial crisis is the increasing awareness of risk and how to manage it in business, trade and investment. One risk management option is export credit and political risk insurance, and …

Sustained global economic expansion continues to be expected, with a real GDP growth rate of about four per cent in both 2010 and 2011, writes DICK HOEY, chief economist at BNY Mellon The strongest economies in 2010 and 2011 should be those with three characteristics:  public policy that places the highest priority on economic growth relative to other objectives No …

  The Arab world can make a big difference to emerging markets, according to Marvin Zonis, professor emeritus of Busess Administration at Chicago Booth School of Business. In his talk entitled “The Middle East & North Africa: Deepening Ties with Other Emerging Markets”, he said that while global economic growth was returning, emerging markets were expanding more rapidly. He told …

As an up-date to a previous article about factoring, Cash&Trade decided to canvass opinion from the leading factors in MENA during what, arguably, has been the worst period of turmoil that the financial sector has seen for many years. Caroline Maginn, Cash Management Matters -CMM Trade Partner, reports Far from collapsing, the factoring market has been resilient through the downturn …

The increasing potential and importance of South-South trade is reviewed by ALEXANDER R. MALAKET, CITP, president of Opus Advisory Service International Inc. (pictured) In particular, he looks at developments between Asia and the Middle East and relationships evolving through and beyond the global crisis.  The global balance of power is shift – ing, as is its nature over time, and …

Noor Islamic Bank’s highly successful growth rate since its inception in 2007 highlighted the need to address the impact that manual operations had on its overall business. A combination of increasing transaction volumes, more complex financial instruments and reconciliations with smaller processing windows led the bank to conclude that it needed to update its reconciliation and exception management solutions. A …

UAE central bank governor Sultan bin Nasser al-Suweidi said recently that local banks will return to making good profi ts despite uncertain economic conditions. According to Reuters, Al-Suweidi told Arabic daily Al Ittihad that local banks’ positive reception to the Dubai World debt proposal, as well as strong cash reserves and capital, would help the banking sector meet any necessary …

Lebanon’s BLC Bank is being partnered by IFC, a member of the World Bank Group to help increase trade fi nance for businesses in Lebanon, expanding economic activity in the region. Under the agreement, BLC Bank becomes an issuing bank as part of the IFC Global Trade Finance Programme, which supports trade with emerging markets and promotes the fl ow …

One of India’s leading banks this month opened its fi rst overseas branch in Dubai. IDBI, which will provide a full range of corporate banking services, including fi nancial advice and syndication of credit, has received a licence from the Dubai Financial Services Authority to operate from Dubai International Financial Centre (DIFC). “Th e setting up of the offi ces …

A number of trade finance programmes backed by the Japanese government are currently being held in the MENA region. This follows on from an initiative by IFC, a member of the World Bank Group, which earlier this year held its first training seminar for Iraqi bankers, aimed at helping them improve their knowledge of trade finance operations so Iraqi’s banks …

Saudi Arabia’s economic diversifi cation initiatives, one of the priorities listed in its fi ve-year development plan, has yielded positive results, Dr. Waleed Al-Wohaib, chief executive officer of the International Islamic Trade Finance Corporation (ITFC) – a member of the Islamic Development Bank Group – said in a speech before the first Saudi Conference for Trade Finance and Export held …