Press Releases

(Dakar, Senegal) (January 23, 2017) – Today the International Islamic Trade Finance Corporation (ITFC) and Trade Facilitation Office (TFO) Canada affirms their commitment to strengthen the capacity of developing countries’ exporters to access the international market through the signing of an agreement with and the Senegalese Export Promotion Agency (ASEPEX). This tripartite agreement seals the deal for the “International Trade …

Trio of global thought leaders announced as headline speakers for the region’s most prestigious financial technology exhibition. MEFTECH 2017 will see over one thousand executive level decision makers from the region’s banks and financial services institutions descend on Abu Dhabi. Dozens of the world’s most advanced and exciting financial technology solutions will be on display at the Abu Dhabi government …

The changing technology landscape for commercial banks has been ever so intriguing with the rapid evolution of block chain applications; Rahul Jayakar tries to demystify some of the trends in the times to come. Drive for Efficiency Banks have been opportunistic in terms of creating various profit centers at every stage of the payment transaction. Over a period this has …

-Largest gathering of regional insurance experts to honour excellence and innovation – MANAMA – January 22, 2017 – The 13th Annual Middle East Insurance Forum (MEIF 2017), the region’s largest and longest running industry event, today announced a call for nominations for the MEIF 2017 Awards. Held under the patronage of the Central Bank of Bahrain, for more than a …

18 January 2017 Coordinated with release of the Supreme People’s Court of the People’s Republic of China’s (PRC) long-awaited “Provisions on Several Issues Concerning the Trial of Disputes Over Independent Guarantees” which entered into force on 1 December 2016, the Institute of International Banking Law & Practice (IIBLP) has published an annotated English translation of the Chinese Provisions for Independent …

17 January 2017  Etihad Airways and Natixis have completed a Sale and Leaseback for two 2016 vintage Airbus A380 aircraft. Both aircraft are owned by special purpose companies based in Abu Dhabi Global Market (ADGM), the world’s newest international financial centre (IFC), and are leased to Etihad for a period of 12 years. This marks the first aviation finance transaction …

USD350 million loan to National Shipping Company of Saudi Arabia USD572 million term loan to Reliance Group of India 5 million loan to BW Gas JuJu LNG Limited 17 January 2017, Dubai, UAE – Standard Chartered is pleased to announce the completion of three shipping finance deals for clients in Asia and the Middle East. These transactions highlight Standard Chartered’s …

QNB Group, the largest financial institution in the Middle East and Africa (MEA) region, announced its results for the year ended 31 December 2016. For the twelve months ended 31 December 2016, Net Profit reached QAR12.4 billion (USD 3.4 billion), up by 10% from last year. Total assets reached QAR720 billion (USD198 billion), up by 34% from December 2015, the …

Proof of Concept launched to determine if distributed ledger technology could help banks reconcile their nostro databases in real time Brussels, 12 January 2017 – SWIFT announces the launch of a Proof of Concept (PoC) to explore whether distributed ledger technology (DLT) can be used by banks to improve the reconciliation of their nostro databases in real time, optimising their …

London / Frankfurt am Main 12 January 2017 Deutsche Bank ranks No 1 in Germany, North America, Asia Pacific and China For the third time running, Euromoney has selected Deutsche Bank “Best Global Trade Finance Provider” in the Euromoney Trade Finance Survey 2017. The Bank received a total of 17 number one wins, including No.1 trade finance provider in Germany, …

  300 exhibitor and 10000 experts gather in one platform to display the latest trends in the furniture industry DIFAC, a gold opportunity for the regional brands to promote internationally their businesses Dubai, UAE, 9 January 2017: Dubai International Furniture Accessories & Components & Semi-Finished Products Show (DIFAC) is announced to host more than 10,000 quality trade professionals from the …

-Largest regional gathering of Insurance and Takaful leaders – MANAMA – January 8th, 2017 – The 13th Annual Middle East Insurance Forum (MEIF 2017), the region’s largest and longest running industry event, today announced that its flagship forum will take place on the 20th and 21st February 2017 at the Gulf Hotel, Kingdom of Bahrain. Held under the patronage of …

03 January 2017 US equity market up to record highs, led by banking, industrial and technology stocks Asia remains the preferred location within Emerging Markets, with a strategic focus on Korea, Taiwan and China (offshore) Dubai, UAE: Barclays announced today the findings of the Q1 2017 “Compass” report, which includes the Bank’s tactical recommendations on portfolio asset allocations. Published by …

Wednesday 14th December 2016 Trade finance continues to have a favourable risk profile when judged against comparable asset classes, such as corporate and small to medium-sized enterprise (SME) lending. Low-risk nature of trade finance remains despite ongoing industry changes, including the slowdown in global trade, fall in commodity prices, and gradual shift of corporates towards open account. Data provides a …

Supporting Suriname’s economic development through financing strategic imports. The signing took place during the visit of H.E. Gillmore Hoefdraad, Minister of Finance of Suriname & IDB Governor at the ITFC Headquarters in Jeddah where he had signed the term sheet with Eng. Hani Salem Sonbol, CEO ITFC. The US$30 million operation, in favor of Suriname is for financing the agricultural, …

Regional and international powerhouses gathered at Islamic finance’s longest-running platform Manama, Bahrain, 6 December 2016: Under the patronage of HRH Prince Khalifa Bin Salman Al Khalifa, The Prime Minister of the Kingdom of Bahrain and with the official support of the Central Bank of Bahrain, WIBC hosted over 1,300 leaders who congregated at the ART Rotana Hotel, Amwaj Islands in …