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Issue 14 March / April 2012

Letter from the editorial director

Dear Reader, The Jeddah-based Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) has now become one of the most proactive export credit agencies in the world and, in this issue, we talk to its dynamic CEO , Dr Abdel Rahman Eltayeb Taha. In an exclusive interview, he discusses upcoming export credit and investment insurance opportunities to be ... Read More »

Gloomy outlook on trade finance

A largely pessimistic outlook for the demand for trade finance products in 2012 has been revealed by new research from the International Chamber of Commerce (ICC) and the International Monetary Fund (IMF). Based on inputs received from 337 financial institutions responding to a joint ICC-IMF survey, the findings also show a two-speed financial system: for emerging Asia the outlook is ... Read More »

RBS re-affirms commitment to MENA

The Royal Bank of Scotland has now officially opened its corporate banking branch in Emaar Square, Dubai. The branch, which was previously located in Bank St, is an integral part of RBS’s corporate banking operations in the UAE and accommodates a corporate branch, transaction services and global networking sales teams. Read More »

HSBC scoops global finance awards

HSBC Middle East’s payments and cash management business has been awarded Best Overall Bank for Cash Management and Best Bank for Payments and Collections by Global Finance. The awards recognise HSBC’s continued efforts to strengthen its position across the region, “providing innovative solutions to its customers”. Commenting on the wins, Natasha Patel, regional head payments and cash management for Middle ... Read More »

Boost for trade finance from new DMCC system

Dubai Multi Commodities Centre (“DMCC”), the Middle East’s leading commodity centre, has announced the launch of DMCC Tradeflow, a significantly enhanced platform to the previous multi award-winning Global Multi Commodities Receipt (GMR) that was introduced in 2004 as a commodity finance risk mitigation tool. DMCC Tradeflow is an electronic system that brings together all parties involved in inventory-based financing. Through ... Read More »

Top bankers set to meet in Qatar

The International Chamber of Commerce (ICC), in association with Qatar National Bank (QNB), will host its biannual ICC Banking Commission Meeting in Doha from March 25 to 29. The event will bring together some 400 banking leaders and executives from 50 countries. QNB is the diamond sponsor. This year’s event – entitled Reframing the Future of Trade Finance – is ... Read More »

Investors perk up

Investors are showing renewed confidence in global equities amid radically improved market conditions and growing hopes of economic growth, according to the BofA Merrill Lynch Survey of Fund Managers for February. Allocations towards equities have made the largest one-month leap since the beginning of 2011. A majority of the panel now sees the world economy improving. “Improved liquidity has aided ... Read More »

TMS solutions speed up treasury automation

While many large Middle Eastern corporates’ treasury operations have traditionally been managed at local subsidiary level, and relied heavily on spreadsheets and manual processes, there is growing movement towards the centralisation and automation of these functions. LIZ SALECKA reviews the current situation. Read More »

How to optimise company cash

Businesses that earn much of their income in foreign exchange now tend to look at a wider range of cash management options. PAUL MELLY speaks to Tim Jackson, an expert who knows what they are How do you make the most of your company’s cash? This is a challenge – but also an opportunity – that now confronts corporate treasurers ... Read More »

UAE banks invest in future growth

As part of Cash & Trade’s regional coverage and following our first roundtable in the KSA, we organised a UAE Roundtable discussion under the sponsorship of Emirates NBD transaction banking services. Last year was an excellent one for cash and trade business in the UAE, with the international banks confirming it was a good 12 months across the whole region, ... Read More »

Doha Bank triumphs in trade finance

Banks have played a demonstrably positive role in the real economy and broader society in Qatar during recent years. This is particularly evidenced by their increased provision of trade finance. Caroline Maginn, Trade Partner at Cash Management Matters (CMM), explains In a final look at the specifics of trade finance in the main GCC countries ahead of the conclusion of ... Read More »

The evolution in MENA banking relationships

Senior leaders in the region are taking solid steps to set up ‘next generation’ business models in correspondent banking. ALEXANDER R. MALAKET, CITP, looks at how what is happening today will shape ‘tomorrow’ The global financial crisis, which has had – and continues to have – implications of varying degrees of seriousness across the globe, has indisputably resulted in a ... Read More »

Threshold of opportunity

ICIEC is poised for even greater advances. In an exclusive interview with its CEO, Dr Abdel Rahman Eltayeb Taha, our correspondent MUSHTAK PARKER explains what is in store. Where there is turmoil and transformation, there are opportunities. Export credit and investment insurance opportunities to be precise. In the Middle East and North Africa (MENA) region, one institution stands out to ... Read More »