As part of ongoing eff orts to enhance connectivity, Dubai Gold & Commodities Exchange (DGCX) has approved FFastFill plc, a global provider of soft ware and services to the fi nancial community, as an independent soft ware vendor (ISV) on the exchange. FFastFill, quoted on the London Stock Exchange, develops and supports more than 80 fi nancial institutions worldwide using …

Business confidence rose across almost all Gulf countries in the first quarter of 2010, according to the latest HSBC Gulf Business Confidence Index. Only Bahraini business people saw a slight dip in confidence. Compared to Q1 2009, the overall Business Confidence Index has risen by more than 20 points, indicating that the region’s business people are far more positive about …

China and the Middle East are likely to expand two-way capital flows rapidly in the coming years as investment catches up with recent fast growth in trade, the chief executive of Abu Dhabi financial services firm Invest AD recently told a conference in Shanghai. The next growth area will be two-way investment, with Abu Dhabi emerging as an entry point …

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the export credit insurance arm of the Islamic Development Bank (IDB), this month opened its representative office in the Dubai International Financial Centre (DIFC). The official opening was attended by Ahmad Humaid Al Tayer, governor of the DIFC; Dr Ahmad Mohammad Ali, president of the IDB Group and …

Dear Reader, In this issue. we are proud to include something for you that is very special and exclusive. It is the first publication of the Tajara Monitor for the Kingdom of Saudi Arabia (KSA). The Tajara, which looks in depth at the trade finance market-place in the KSA, is intended as an informative reference tool for existing practitioners and …

Due to the partnership model inherent in Shariah-compliant business models, Islamic banks traditionally enjoy a slightly more secure risk position than the majority of conventional banks regionally and worldwide. However, as investment in physical expansion and growth in the Middle East region continues its upward climb, and Islamic banking attracts more customers, the banks will find themselves susceptible to increased …

Maki Vekinis of Cash Management Matters (CMM) sets out to explain what appears to be a paradox The aim of this article is to address the cash management paradox – ie, why do banks offer a proposition that reduces core revenue? With Middle East-based banks focusing on alternative revenue streams through the offering of transaction banking products – following on the …

The convergence of cash management and trade finance is a banking trend that Islamic bankers are increasingly taking note of. here, SHAHERYAR ALI discusses the concept of a shariah-compliant integrated treasury offering. The past decade has seen two extraordinary banking trends, especially in the Middle East. The first has been the growth of Islamic banking, brought about by a pent-up …

NBAD’s bond issue was an expression of its desire to set a standard for the Gulf region, explains Mahmood Al-Aradi (pictured), the bank’s head of financial markets. The National Bank of Abu Dhabi (NBAD) wanted to set a benchmark for the region and the UAE in returning to the funding markets with a $750m bond issue this spring, according to …

An impressive one-off or a pointer to the return of international confidence in Gulf banking? Paul MellY looks at the recent NBAD bond issue. A herald of financial recovery in the UAE – or a special case that tells us nothing about the wider prospects for other local institutions? That’s the question being asked about the success of the National …

Following a recent roundtable event hosted by BNY Mellon in Istanbul, CIHAT TAKUNYACI, the firm’s treasury services representative for Turkey, discusses transaction banking in the Turkish market. Turkey’s strategic geographic position between europe and the Middle east has sparked (continuing) growth in Turkish-Middle eastern trade flows. however, do Turkey’s local banks have what it takes, in terms of local transaction …

Delving into the mechanics of credit and collections, payables management and inventory levels can pay dividends. Susan A. Hillman and Daniel L. Blumen , of  Treasury Alliance Group LLC, explain how to get access to free cash. A defining trend of the past decade has been the work that multinationals have done to centralise liquidity, risk management and banking for …

A number of funding and grantee schemes have now been established to help regional companies sell internationally. PAUL MELLY report Powered by the resilience of the global oil market, Middle Eastern economies are already raising their sights towards the prospect of recovery, even while the outlook for most world regions remains uncertain. But while the hydrocarbons sector will continue to …

Asia’s insatiable appetite for oil and gas has provided large and lucrative export markets for Middle eastern energy companies,which they have further capitalised on by building refineries and other facilities there. setting up business in asian countries creates numerous banking, cash management and regulatory challenges for treasury departments, but they can be resolved, explains LANCE T. KAWAGUCHI (pictured) of Citi. …

The National Bank of abu dhabi (NBad) has been granted a licence by the emirates securities and Commodities authority (sCa) enabling it to practice the “securities Custody” activities of securities listed on local markets – making the bank the first to achieve this feat. According to the “securities Custody” transaction, an investor may entrust his securities in the custody of …

Teachers believe financial literacy should be compulsory for all school leavers, according to a survey carried out by Visa, a leading payment solutions provider. An overwhelming number of GCC education professionals polled “believe that basic financial literacy skills are essential for young people today and would like to see the fundamentals of money management taught in schools”.  Lama Kabbani, corporate …