2013

There are a number of actions that can be taken in transaction banking to gain the edge in a highly competitive climate. Global experts NICLAS STORZ, GERO FREUDENSTEIN and STEFAN DAB explain what they are The question of the moment is, “How can financial institutions gain a competitive advantage in transaction banking in a hyper-competitive climate?” We believe the answer …

Qatari banks show renewed focus on corporate banking and trade finance, says CAROLINE MAGINN, trade partner at CMM Banks active in corporate banking and trade finance have continued to both contribute to and benefit from Qatar’s growth and prosperity. This is particularly evidenced by their increased provision of trade finance from QAR 114bn at year-end, 2010 to more than QAR …

The US Foreign Account Tax Compliance Act (FATCA), which requires all foreign financial institutions (FFIs) to report to the Internal Revenue Service (IRS) on the activities of investors who are US citizens, has created a huge task for banks and wealth management companies worldwide – and the Middle East is no exception. LIZ SALECKA reports on the implications As in …

Competition and cost will be just two areas in which the Islamic banking industry can expect future challenges. MUSHTAK PARKER looks at what 2013 has in store Judging by the cornucopia of optimistic press releases, conference speeches and utterings, it is easy to get the impression that the global Islamic banking industry is the new “untouchable” – seemingly untouchable that …

The introduction of Islamic banking into Oman is being greeted with caution by the authorities, who wish to manage the ‘orderly development of the industry’. MUSHTAK PARKER looks at the wisdom behind this decision Central Bank of Oman (CBO) officials are advising against any irrational exuberance about the introduction of Islamic banking in the Sultanate following the promulgation of a …

More flexibility is needed in the new rules set to treat trade finance almost as harshly as much riskier activities. Tod Burwell, chief executive and president of BAFT-IFSA, speaks exclusively to PAUL MELLY Banks’ capacity to extend trade finance to exporters and importers across the Middle East – and other world regions – could be sharply constrained by the tough …

WILL SPINNEY, explains what the treasurer needs to know about internal controls and governance. There have been many approaches to corporate governance over the last 20 years, with new approaches constantly suggested. In the UK there has been the Cadbury Report (1992), the Greenbury Report (1995), the Turnbull Report (1999) and the Higgs Report (2003), among others. New mechanisms are …