2010

The importance of managing staff expenses efficiently means corporates must consider the use of payment cards. by KAMRAN SIDDIQI, GENERAL MANAGER oF VISA IN THE MIDDLE EAST. Increasing processing efficiency and reducing payroll costs are two priorities common among most companies, particularly in an economic climate where businesses are looking to streamline costs and operate at their most efficient. In …

Alexander R. Malaket, CITP, President Opus Advisory Services International Inc. Transparency is a notion that has received a great deal of attention over the past year in particular, as relating to financial dealings in the GCC, the Middle East and the MENA region more broadly.  Is this simply the latest buzzword to circulate in business and financial circles? Is it …

Bahrain-based Cash Management Matters (CMM), a leading provider of cash management solutions in the Middle east, has launched the nostro Cash Management system (nCMs), a comprehensive ‘one-stop-shop’ secure platform that offers financial institutions complete management and control of nostro accounts worldwide. The launch was announced following a successful certification period of nCMs at the national Commercial bank, one of saudi …

 Despite growing confidence across the global economy, it appears the well-publicised problems in dubai have contributed to a lack of business confidence in the Gulf region. The latest HSBC Gulf business Confidence Index fell from 81.4 to 80.2 between the third and fourth quarters of 2009, illustrating how the burden of debt within some Gulf states has stymied confidence.  “We …

 Citi has announced that its Global Transaction Services business for EMEA has extended its global platform for Citi Prepaid services by launching its payroll services in the uae for Voltas, part of the Tata group. Voltas is an engineering project specialist, and has already successfully undertaken and executed multimillion dollar electro-mechanical projects in the Middle east – along with the …

 The International Bank of Qatar (IBQ) has signalled its commitment to further growth and development by signing a deal with first data to host the bank’s credit card portfolio.  IBQ announced the deal in january, and said that first data will host the bank’s entire credit card operation via its first Vision processing platform. Philip King, head of retail at …

 The International Islamic Trade finance Corporation (ITFC), an autonomous entity within the IDB Group, has lent its weight behind regional and international efforts to launch a determined aid–for-Trade (afT) road Map in cooperation with the united nations economic social Commission West asia (ESCWA) and other regional and international bodies. This was announced in january by ITFC CEO, Dr Waleed Al …

 The merger between the two main trade associations for those engaged in cash management and trade finance was confirmed on 19 january. In a joint statement, the bankers’ association for finance and Trade (BAFT) and the International financial services association (IFSA) said the new organisation would be called bafTIfsa and will take its place as the most significant pressure group …

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 …

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 …

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 …

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 …

Dear reader, I would like to welcome you to the second edition of Cash & Trade magazine. following the launch issue, the magazine has enjoyed very positive and encouraging market feedback. We are pleased to see that the mix of comment and technical content has struck a chord with our readers. It is our aim at Cash & Trade to …

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 …

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 …

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 …