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Issue 00 Launch Issue

SWIFT – a communication revolution

SWIFT, the Society for Worldwide Interbank Financial Telecommunications, has revolutionised the way banks and corporations communicate with each other. In this exclusive interview for Cash & Trade, SWIFT’s Regional Head, MENA , Sido Bestani, speaks frankly about how the global financial crisis has affected his organisation and explains what measures it is taking to provide for the needs of customers in the Middle East and North ... Read More »

Corporate treasurers move centre stage: how best to manage cash and leverage it?

Citi, still one of the largest global banks in cash management despite its recent re-organisation

The Internet, new technology, trade moving East globalisation and then, the financial crisis too! Corporate treasurers have seen it all and many are still reeling from the implications. But one consequence is that they are increasingly taking centre stage in their organisations, and their views are being heard at board level after years of relatively benign neglect. Corporations and their ... Read More »

Outsourcing for Corporate Banks

BY PAMELA ANN SMITH If ‘cash is king’, given the global financial turmoil of the past 18 months, then so too is the need to cut costs. Many banks in the GCC which cater to corporates in the region are being squeezed, just at a time when they need to innovate and expand to ensure the loyalty of their clients ... Read More »

Financial talent means the future looks bright

Well-run financial institutions now need to invest for the future in people who can help the MENA region evolve as a financial base for global and regional companies

The Middle East has only recently begun to feel the impact of the global downturn in earnest but, writes Robert Watsham of global headhunters, Odgers Berndtson, the region is well placed to take advantage of the upturn when it arrives. The Middle East’s economies continue to register growth – although there is little sign of the business expansion and “frenzied ... Read More »

Turning the tables on financial turbulence

Highly trained trade finance staff who can be relied on to deliver a quality service can be pivotal in winning new business – and it won’t break the bank

The importance of raising the bar in challenging times by Derek Ennis of Coastline Solutions. According to recent figures from the World Trade Organisation (WTO) global trade is set to decline by around 9% in 2009 compared to last year. We have all read about the causes – from falling demand to the tightening of credit lines and a general loss ... Read More »

Trade banking and finance


Trade finance has been caught in the crossfire of the global economic crisis, both as a symbol of its extensive reach and as a vital piece of the solution. BY Alexander R. Malaket , CITP, President OPUS Advisory Services International Inc .   The business of trade finance has been through one of the most dynamic, innovative periods in its ... Read More »

The pursuit of excellence in difficult times

Headquartered in the Kingdom of Bahrain for the past 125 years, the Bahrain Maritime Mercantile International group (BMMI) is a diversified retail, distribution, logistics and contract services group. By Caroline Maginn – CMM Trade partner   BMMI specialises in the distribution, wholesaling and retailing of food and beverages, and represents a leading portfolio of global household brands. The group is ... Read More »

Attention on asset quality reaps rich rewards

Saudi Hollandi Bank

In an exclusive interview for Cash & Trade Zaki M. Jawad, Saudi Hollandi Bank’s Head of Transaction Banking Group explains why he believes there is tremendous growth potential for trade business in the kingdom. This must be an opportune time to be a banker in Saudi Arabia, which has been protected from the worst effects of the global downturn, and ... Read More »

Open Account Trade – a Standard Chartered solution

By Krishnakumar Duraiswam y, Director -Transaction Banking , Regional Trade Product Management Standard Chartered Bank Many businesses have cash flow that varies considerably. A business might have a relatively large cash flow in one period, and a relatively small one in another. Because of this, firms find it necessary to maintain a cash balance on hand, and to use working ... Read More »

Systems integration is key

A complete integration solution enables financial managers to focus on their core activities

The integration model between banks and their corporate customers is an ever expanding process By Maki Vekinis – Cash Managment Matters (CMM ) Managing Partner The rise of enterprise resource planning systems (ERPs) in the GCC, and in Saudi Arabian markets in particular, are well recorded. ERPs have proved to be one of the key components in effective business management ... Read More »

Corporate banking in focus

Corporate banking in focus

A survey of banks in the region reveals the growing importance of the corporate segment to the fortunes of the banking sector as the search widens for new areas of profit By Caroline Maginn – CMM Trade partner How important to the region’s banks is the corporate banking segment?  In both the absolute and percentage levels of corporate assets, the ... Read More »

Renaissance Capital implements Actimize AML and market abuse platforms

Actimize, a leading provider of transactional risk management software for the financial services industry and a NICE Systems company (NASDA Q:NI CE), today announced that Renaissance Capital, a major emerging markets investment bank, has fully implemented its Anti-Money Laundering (AML) and market abuse solutions to comply with strict FSA and Russian regulations and to automate, streamline and drive down the ... Read More »

EastNets to offer SmartStream’s TLM OnDemand across the Middle East, North Africa and US

SmartStream Technologies, the financial Transaction Lifecycle Management specialist, today announced a new partnership with EastNets, a leading provider of global compliance and payments solutions and services, and one of the world’s largest SWIFT Service Bureau’s. EastNets, which has more than 1,000 customers and over 250 financial institutions on its Service Bureau, will act as a distributor for TLM OnDemand, offering ... Read More »

IMF update

In an update to its April economic Outlook, the international Monetary Fund (iMF) has lowered its Middle east growth forecast for 2009 by half a percentage point, as oil exporters draw on financial reserves to prop up domestic demand. The IMF has said that Middle East economies will expand by 2%, compared with 5.2% in 2008, while the growth forecast ... Read More »

Regional roundup


Keeping you up-to-date with the latest developments in the region and further afield    1.Saudi Arabia MoneyGram expands Middle  East presence with NCB ATM  remittance deal National Commercial Bank (NCB), the  largest bank in the Middle East, is to offer MoneyGram’s international money  transfer service at 1400 aTM locations  in Saudi Arabia. The agreement significantly expands  MoneyGram’s presence in the ... Read More »

Letter from the editorial director

Dear Reader, Responding to huge demand, we are proud to launch the region’s first home-grown publication to focus on cash management and trade. During these turbulent times, we believe an independent analysis of these core business activities and market developments is crucial to both national and multinational corporations as well as the international banking and legal professions. By interrogating developments ... Read More »