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Issue 13 January / February 2012

Letter from the editorial director

Dear Reader, We are proud to have held Cash&Trade’s first roundtable discussion in the MENA region. More are to come based on the success of our first in the Kingdom of Saudi Arabia, at which transaction banking was the subject of discussion. At this time, the importance of cash and trade solutions has never been so vital, competitive and demanding ... Read More »

The ‘finance future’: MENA should find Asian partners

Philippe Ghanem, managing director of Abu Dhabi-based ADS Securities The financial sectors of the Middle East and South East Asia could work together to tap new opportunities arising from growth in emerging markets, new technology and the issues facing traditional investment markets, according to Philippe Ghanem, managing director of Abu Dhabi-based ADS Securities. Read More »

Electronic banking to the fore

A client conference was recently held in the UAE by Standard Chartered to discuss the latest innovations in the field of electronic financial solutions and Enterprise Resource Planning (ERP). Its aim was to raise awareness about the benefits of electronic integration to ensure smooth business operation, reduction of costs and access to round-the-clock financial solutions. Read More »

New Trade Services Unit for SHB in the Eastern Region

Zaki Jawad, Head of Transaction Banking Group Saudi Hollandi Bank has established a new Trade Services Window in its Al-Hafouf Branch to cater to the trade requirements of corporate and small establishments located in and around the Al-Ahsa city, Eastern Region. The Trade Services Window is providing consultancy, advice and services that include Letters of Credit, Bank Guarantees and Documentary ... Read More »

HSBC does it again!

Natasha Patel, regional head of global payment and cash management, Middle East and North Africa HSBC has been voted as Euromoney’s Best Cash Management Bank in the Middle East for 2011, making it the bank’s eighth win since 2003. HSBC was also awarded Euromoney’s Best Regional Cash Management Bank for Financial Institutions in the Middle East for the first time, ... Read More »

New chief for DGCX

Stephen Gaterell, the new chief executive offi cer The Dubai Gold and Commodities Exchange has appointed Stephen Gaterell as its new chief executive officer (CEO). Read More »

Launch of world’s first Islamic interbank rate

The world’s first Islamic finance benchmark rate, designed to provide an objective and dedicated indicator for the average expected return on Shariah-compliant short-term interbank funding, has been launched by Thomson Reuters. The Islamic Interbank Benchmark Rate (IIBR), announced at the 18th annual World Islamic Banking Conference in Bahrain, uses the contributed rates of 16 Islamic banks and the Islamic sections ... Read More »

Look out: here comes the future

The possibility of global recession and falling demand are two of the big issues for treasurers to wrestle with in the coming year. LIZ SALECKA gets their views on what the New Year has in store As the New Year begins, corporate treasurers across the Middle East are preparing for a busy time ahead by ensuring that their companies have ... Read More »

Transaction Services: the big KSA banking investment

Transaction banking was the subject of discussion when representatives from most banks in the Kingdom of Saudi Arabia took part in the first ever roundtable discussion organised by Cash & Trade  The participants were: AlRajhi Bank: Badri Ali Kadhim, AGM, head of global transaction banking/financial institutions Khaled M. Al-Busayes, head of cash management and e–corporate banking  Alinma Bank: Ahmed Said ... Read More »

Preparing for the challenges

The ability to use ‘soft market’ time to prepare for the next big business cycle is what makes leaders in the banking industry stand out from the rest. SUKIRAT KOCHAR and MANINDER BHANDARI explain Sukirat Kochar All industries go through ups and downs and the banking industry is no exception. However, what differentiates the leaders in this business from the ... Read More »

Basel III: What more is to come for trade finance?

Caroline Maginn, Trade Partner at Cash Management Matters (CMM) comments on a very positive ICC Banking Commission initiative that galvanised a group of leading trade finance banks to work together to give qualified input to Basel III. This should support the industry as a whole to engage in the on-going provision of trade finance liquidity in support of the real ... Read More »

A new dawn in Middle East payments

The Middle East has a population of more than 190 million people and a combined GDP of $1.6 trillion. Its aggregate economy is larger than Russia or Brazil and has impressive growth prospects. The most prominent economic powers are the members of the Gulf Cooperation Council (GCC): Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. These six ... Read More »