Press Releases

Abu Dhabi (July 26, 2012) – The National Bank of Abu Dhabi (NBAD) has been awarded the Best Asset Management House in Middle East by International Takaful Awards. Takaful, which awarded the accolade based on financial achievement and client survey, recognised NBAD’s Asset Management Group for its superior performance and its commitment to innovate and offer Shari’a-compliant products. “Being named …

Growth in core businesses continue to strengthen the base for Bank’s future National Bank of Fujairah PSC (NBF) is pleased to announce its results for the half year ended 30 June 2012. Highlights: NBF recorded an operating profit of AED 219.0 million compared to AED 187.7 million in the corresponding period of 2011 Results were driven by strong core business …

Highlights: H1- 2012 Top line operating income up 5.5% to AED 4.1 Billion Net profits up Strong and liquid balance sheet Highlights: Q2- 2012 Net profits up 2% to AED 1,046 Million Impairment charges lower by 12% to AED 292 Million after strong recoveries Abu Dhabi- (July 24, 2012)- National Bank of Abu Dhabi (NBAD), the Safest Bank in the …

Over 75 per cent of private investors believe the Eurozone will survive the crisis 45 per cent say European equities are undervalued Technology will be best performing sector of 2012, according to poll Dubai, United Arab Emirates, 23rd July 2012– A J.P. Morgan Private Bank study has revealed the views of High Net Worth investors in Europe on their outlook …

Hamburg, Germany – July 18, 2012 – Surecomp®, a leading provider of global trade solutions for banks and corporations, announced today that DOKA 5®, its configurable tool-kit back-office solution for documentary trade finance, has been awarded the SWIFTReady Trade Finance application label for the 12th consecutive year. The SWIFTReady label program verifies the compliance of business applications against SWIFT standards, …

The 68th ICIEC’s Board of Directors Meeting ICIEC’s support for investment and export insurance in member countries stood at USD 1500 million during the first half of 2012 17 July 2012, Under the Chairmanship of Dr. Ahmed Muhammad Ali, the President of Islamic Development Bank (IDB) Group, the Board of Directors (BOD) of the Islamic Corporation for the Insurance of …

Luxembourg / Dubai, 17 July 2012 Clearstream facilitates market evolution in the Middle East Abu Dhabi Commercial Bank joins triparty repo service of Clearstream National Bank of Abu Dhabi settles loan transactions using Clearstream’s ASL offering Clearstream continues to facilitate the creation of a Middle Eastern financial market infrastructure: Abu Dhabi Commercial Bank has joined Clearstream’s triparty repo service as …

Standard Chartered Launches enhanced online banking FX service Service brings 130 global currencies to corporate clients in UAE, Bahrain, Qatar and Oman UAE, 15, July, 2012 – Standard Chartered announced today the launch of enhanced online banking foreign exchange services through the Bank’s secure online banking platform, Straight2Bank. The service brings a choice of 130 global currencies to the bank’s clients in …

  The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group (IDB), signed a USD1 billion Framework agreement for cooperation with the Government of Arab Republic of Egypt. This agreement aims to finance the Egyptian General Petroleum Corporation (EGPC) and the General Authority of Supply Commodities (GASC) an amount of USD 400 million annually for …

 reveals family office survey findings Preserving wealth top focus in managing investments Regulatory and tax environments an area of key concern across global family offices Dubai, UAE – 4 July 2012 – J.P. Morgan launched the results of its latest Family Office survey. The 2012 survey, undertaken by J.P. Morgan Private Bank, was conducted with more than 120 single family …

Criminal Court of Bahrain reaches a verdict on the criminal case against Majid Al-Refai Former CEO convicted of criminal charges and sentenced to 4 years in prison  Manama, June 26, 2012: The Criminal Court of Bahrain issued a ruling today against Majid Al-Refai, the former Chief Executive Officer of Bank Alkhair (formerly Unicorn Investment Bank), sentencing him to 4 years …

GCC forex industry doubling annually, says Dubai’s Alpari ME DMCC CEO sees most growth from UAE, Qatar and KSA Over 4,000 traders now trade through Alpari in the region Dubai, 26 June 2012:  The online Forex and currency trading industry in the Middle East will continue its meteoric rise and grow at an exponential rate, doubling year on year said …

Bank now provides direct and Regional custody solutions to more than 40 markets across Asia, Africa and Middle East 26 June, 2012 – Standard Chartered Bank has announced today the expansion of its Regional Custody coverage for Investors and Intermediaries from its MENA Regional hub in the Dubai International Financial Centre. The service now covers more than 40 markets across …

en.Service Bureau reduces complexity, cost and risk related to payments and other international financial transactions June 24, 2012 EastNets, a leading global provider of compliance and payments solutions, has announced that its en.Service Bureau solution has been recently selected by Ansbacher in the Bahamas for SWIFT connectivity, helping the bank reduce the complexity, cost and risk related to payments and …

. . .21 June 2012 Barclays Advances Corporate Banking Offering with the Expansion of Cash Management Team in the GCC Region Barclays Bank PLC announced today that it is continuing to expand its corporate banking offering through the expansion of its cash management capabilities in the region. Oliver Baillie has been appointed as Head of Cash Management, UAE and GCC …

SunGard Launches New Bank Readiness Index To Help Banks Address Customer Needs Dubai, 19 June, 2012 – New research undertaken by Celent on behalf of SunGard, has found that banks in some of the world’s fastest-growing emerging markets are struggling to keep up with changing customer expectations, particularly in multi-channel areas such as social media and mobility. The research, which …