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Bank-fintech collaboration: creating opportunities for trade in the Middle East

Bana Akkad Azhari, Head of Sales & Relationship Management MEA and the CIS, Treasury Services EMEA, BNY Mellon, discusses how fintech can transform the trade landscape in the Middle East. Recent years have heralded a new, dynamic “fintech era”. Global investment has skyrocketed – reaching US$23.2 billion in 2016, up from US$12 billion in 2014[1]. Yet, the vast majority of ... Read More »

On the sidelines of the WTO’s Aid for Trade Global Review 2017

ITFC and IFC Partner for the achievement of Sustainable Development Goals (SDGs) in common member countries Geneva : The International Islamic Trade Finance Corporation (ITFC) and the International Financial Corporation (IFC) signed a Letter of Intent for Partnership with the aim to intensifying and reinforcing their joint work and cooperation to achieve the Sustainable Development Goals (SDGs). The signing took ... Read More »

GIB granted retail banking licence in Bahrain

Meem in Bahrain offers state of the art digital banking for customers in the GCC 28 June 2017: Gulf International Bank (GIB) is pleased to announce that it has been granted a conventional retail banking licence in the Kingdom of Bahrain by the Central Bank of Bahrain. Commenting on the announcement GIB’s Chairman, His Excellency Mr. Jammaz bin Abdullah Al-Suhaimi, ... Read More »

Global Focus Q3 2017: Swans, bulls and bears

Solid pace of growth in world economy expected despite elevated geopolitical risks 27 June 2017, Dubai – The world economy is showing decent signs of growth for H2, although momentum is expected to moderate somewhat. Europe’s growth is above trend, and the lack of significant tightening by the European Central Bank (ECB) should sustain it, with Asia still the main ... Read More »

SWIFT offers 200,000 EUR for FinTech community to leverage gpi platform

SWIFT gpi industry challenge fosters collaborative innovation between banks and FinTech companies from around the world and the region Brussels, 28 June 2017 – SWIFT invites FinTech companies from around the world and the region to develop new overlay services that leverage its SWIFT global payments innovation (gpi) platform. SWIFT will provide funding of up to 200,000 EUR for the ... Read More »

E-Banking and Front Office 2020

Frankfurt, Germany, June 6, 2017 – Surecomp®, a leading provider of global trade solutions for banks and corporates, concluded today a comprehensive event which attracted over twenty attendees from fifteen leading European banks and corporate clients. The program was entitled ‘E-Banking and Front Office 2020’ and took place in the heart of Frankfurt, Germany’s financial center. ‘E-Banking and Front Office ... Read More »

Digital Government Imperatives of the United Arab Emirates: 92% of Emirati Respondents Believe Online Government Services Have Improved Since 2014

UAE ranks second best in its improvement of digital services provided by the government, according to BCG’s 2016 Digital Government Survey Dubai, 12 June, 2017 — The United Arab Emirates (UAE) has the second highest net perception of service improvement over the past two years globally and ranks first in terms of the highest levels of satisfaction for services in ... Read More »

PRETA launches project to build PSD2 directory

Paris, 16th June 2017 Following a stakeholder consultation started in 2016 to determine industry requirements, PRETA commits to providing a compliance-driven directory solution to support market actors in meeting PSD2 access-to-account provisions. Today PRETA, a wholly-owned subsidiary of EBA CLEARING, announced the launch of a directory project to support payment service providers (PSPs) and third party providers (TPPs) in meeting ... Read More »

EBA CLEARING white paper addresses how to ensure smooth take-off for euro instant payments

Paris, 14th June 2017 The paper focusses on pan-European infrastructure considerations for a successful roll-out and ramp-up of real-time payments across Europe EBA CLEARING issued today a white paper on how to ensure a smooth take-off for euro instant payments across Europe. The paper presents key factors for a successful ramp-up of real-time payments, such as payment certainty and reach, ... Read More »

SWIFT unveils industry’s first ever cross-border payments tracker

  Corporate treasurers can now find out where a payment is at any given time Brussels, 11 June 2017 – SWIFT announces today the availability of its new cross-border payments Tracker that enables international payments to be traced in real-time. The Tracker is the cornerstone of SWIFT gpi – the cooperative’s new payments innovation service – which is revolutionizing the ... Read More »

GCC sovereign and corporate bond issuance amounts to around USD 22 billion in first five months of 2017, says Fisch Asset Management

Dubai, United Arab Emirates, 11 June 2017 – GCC corporate bond market records solid performance in 2017 – Sukuk issuance year-to-date indicates healthy investor demand – Investors in Middle Eastern assets undeterred by low oil prices Total gross bond issuance in the GCC has already surpassed 2016’s total value in the first five months of this year, according to Fisch ... Read More »

Empower launches Bills payment facility through Emirates NBDATM/CDMs

The new service will allow Empower’s customers to know the outstanding balance and make the payment of their district cooling consumption bills at all ENBD ATMs and CDMs across the UAE. Dubai, UAE, 7 June 2017: Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, launched payment facility for its customers through Emirates NBD (ENBD) bank’s ... Read More »

Quisk Begins Deployment of Blockchain Technology

With The Addition of a New Blockchain Distributed Ledger, Quisk Builds on Smart Dubai Government’s Strategy and Shares a Bold New Vision for the Future Dubai, UAE; Wednesday, May 31, 2017; Quisk, Inc., headquartered in Silicon Valley and provider of a secure digitized cash payment network for banks and financial institutions around the world, announced today that it will begin incorporating ... Read More »

Mashreq Bank first bank in Middle East to join SWIFT gpi

  SWIFT gpi will bring more transparency and traceability to cross-border payments Dubai, 28 May 2017 – SWIFT announces today that Mashreq Bank has signed up for its global payments innovation (gpi) service, to become the first bank in the Middle East to join this international initiative. The bank will be joining forces with 100 leading banks globally. SWIFT gpi ... Read More »

Standard Chartered named “Best Private Bank” in the UAE

UAE, 23 May, 2017 – Standard Chartered Private Bank has been awarded “Best Private Bank” in the UAE at the 18th Banker Middle East Industry Awards’ Gala Dinner, held at Jumeirah Emirates Towers in Dubai last week. The announcement was made before an audience of some 400 senior bankers and financiers, including more than 30 Chief Executives from around the ... Read More »