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Issue 31 January / February 2015

Letter from the editorial director

Dear Reader, This issue has a most appropriate theme for the New Year – the future. It was summed up by a senior figure at one of the world’s leading banks when, in an exclusive interview with Cash&Trade, she said, “I think banking in general has now come to a crossroads of understanding around the world that ‘banking will never ... Read More »

FGB strategy pays off as it wins top award

First Gulf Bank (FGB) has won the Best Bank Award for Trade Finance and Corporate Banking in a survey conducted by Cash Management Matters (CMM) and published in Cash & Trade Magazine. Winning this award did not happen by chance.  FGB has been implementing a strategy to become the “First Choice” Global Transaction Bank in the markets they operate in. This ... Read More »

ITFC signs $300m deal with Tunisia

The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group, has signed a $300m Murabaha Agreement with the Tunisian Refining Industries Company (STIR). This was the result of a Framework Agreement signed between ITFC and the Government of Tunisia with the aim of financing Tunisia’s strategic sectors through an agreed list of public entities acting ... Read More »

Sukuk trend continues upwards 

The International Islamic Financial Market (IIFM) has released its much- awaited Sukuk Report (4th edition). It consists of a comprehensive study of the global Sukuk market and sheds light on the growth, trends and development of international and domestic Sukuk issuances for the period January 2001 – July 2014. Khalid Hamad Abdul Rahman Hamad, chairman of IIFM, said, “The report ... Read More »

UAE economy hits the highest note

The UAE is one of the most dynamic and open economies in the world, its economy minister H.E. Sultan bin Saeed Al Mansoori told delegates at the Global Trade Development Week gathering in Dubai. He said, “This event comes at a momentous time, a time when the UAE has proved itself to be the leading regional and international trade hub ... Read More »

Here come the challenges but the future looks positive

  Despite a series of trials for both bankers and corporates, including new competitors and technology and increasingly complex regulation, there’s a rewarding outcome on the horizon, says a senior figure at one of the world’s leading banks The challenges and opportunities facing both banks and corporates have been outlined by one of RBS’s most senior bankers in an exclusive ... Read More »

Financing global commerce reaches a ‘tipping point’

The notion of innovation in trade financing is explored by ALEXANDER R. MALAKET, president of OPUS Advisory Services International Inc. and author of Financing Trade and International Supply Chains While the business of trade finance has a long history and functions on the basis of well-established principles and practices, it is apparent to industry observers that this esoteric discipline has ... Read More »

Corporate Banking buoyancy spurred by trade finance yet again

Significantly more is now being done to deliver operational efficiency and trade finance product innovation across both Islamic and conventional banking. CAROLINE MAGINN looks at the momentum within the sector KSA corporate banking and trade finance continue to garner momentum because the sector has been prudently capitalised. It delivers crucial liquidity to provide meaningful supply finance to the emerging corporate ... Read More »

Sights set on new targets

As the global Islamic finance industry enters its 40th year in 2015, and continues to assume an accepted niche in the world’s mainstream financial system, its prospects, too, continue to evolve especially regarding its role in contributing to the financial reform agenda, financial stability, GDP growth, intra-Islamic trade and investment, infrastructure development, financial inclusion and wealth management. MUSHTAK PARKER tells ... Read More »

Banks need fresh ‘execution skills’ as competition fires up

Financial institutions in the transaction banking and payments field need to differentiate themselves and raise their game to stay ahead, says a new report on international banking Payments and transaction-banking businesses continue to represent vital elements of the industry itself and the global financial-services landscape. The importance of these businesses both as critical sources of stable revenues and as the ... Read More »

‘South Atlantic’ trade looks to finance solutions from banks

Inter-regional trade between the Middle East and Latin America has experienced dramatic growth over the past decade. Whilst volumes are still relatively small in comparison to trade flows with their respective main trading partners, the trajectory is clear and brings a multitude of business opportunities. BANA AKKAD AZHARI and DINO SANI, BNY Mellon treasury services’ heads of relationship management for ... Read More »

Islamic finance markets need ‘greater bonding’

The World Islamic Banking Conference once again confirmed its position as the premier, largest and most influential annual gathering of international Islamic finance leaders as the 21st annual edition of WIBC 2014 took place at the Gulf Convention Centre in Bahrain. The event was attended by over 1,300 industry leaders in excess of 50 countries representing more than 300 international ... Read More »