Biggest Banks In Oman

Increased consumer lending and new banks will put the country on a solid footing this year.

Biggest Banks In Bahrain

Bahrain faces sluggish growth and a rise in non-performing loans due to the fallout from political unrest.

Top GCC Banks By Profits

Higher GCC banking profitability was driven by improvement in margins, faster asset expansion and expanding fee income in 2011.

GCC’s Biggest Banks By Assets

The top 50 banks’ consolidated assets grew by a higher 9.1 per cent in 2011 to $1.2 trillion, compared to 6.8 per cent in 2010 and four per cent in 2009.

Egypt Requests $4.8bn IMF Loan

The country made a formal loan request to the International Monetary Fund during a visit to Cairo by IMF chief Christine Lagarde.

Qatar Buys 22% Stake In China’s CITIC Capital

CITIC, partly owned by China’s sovereign wealth fund, did not give financial details of the investment.

UAE Banks Cash In On Euro Disaster

Fears of a Euro lending shortage appear overblown as local banks grow their loan books.

False Records Issue Is Key To Standard Chartered Case

The false records cases could be easier to prove than money-laundering.

Bullish Outlook For MENA Banks

Banks in the region are benefiting from high profit margins and government support, says new report.

Arab Bank chairman quits over CEO dispute

Abdel Shoman, chairman of Jordan-based Arab Bank, reportedly resigned after a disagreement with key shareholders.

UAE Banks Told To Extend Loan Maturities For Citizens

The UAE Central Bank has told lenders to reschedule citizens’ loans by more than 48 months.

Qatar Inflation Rises To Record 2.2 % In July

Qatar inflation rose to its highest level so far this year in July, driven by furniture, textiles and home appliances.

EFG-Hermes Q2 net profit down 66%

The Egyptian investment bank posted a net profit of $4.4 million as revenues from its brokerage operations declined.

Islamic Finance Body Plans Scholar Accreditation

A Malaysia-based association of Islamic scholars is planning to develop a global code of ethics to improve standards in the industry.

Basel III Arrives Early For UAE

Central Bank orders regional banks to meet liquidity requirements from January 2013, in preparation for Basel.

Standard Chartered Reputation ‘Damaged’ After Fine

Standard Chartered may have settled its Iran regulatory dispute for $340 million but investors remain wary.

Kuwait’s NIG To Repay $475m Sukuk On Time

National Industries Group Holding said that it has raised enough finance to repay the Sukuk when it matures on August 16.

Dubai Trade Licences Up 17 %

Dubai trade licences saw a significant jump as UAE confidence steadily rebounds.

Kingdom Holding’s Prince Al Waleed Survives Car Crash

Prince Al Waleed Bin Talal, CEO of Kingdom Holding, escaped harm as his car was written off in Saudi Arabia this weekend.

Local Equities Pick Up Pace

Amid growing investor concern about the Eurozone, Riad Meliti, CEO, Arqaam Capital, remains firmly bullish.

Saudi Is Spending More Than It Should – IMF

The Kingdom boosted spending to a record SAR804 billion in 2011, 23 per cent higher than in 2010.

Standard Chartered Questions New York Action

New York’s top bank regulator has threatened to revoke the bank’s state licence over alleged Iran ties.

Qatar Holding Plans To Raise Stake In Qatar Insurance

The Qatari sovereign wealth fund currently owns around 12 per cent of Qatar Insurance.

Saudi Grants Licence To Chinese Bank ICBC

The Kingdom’s cabinet has given a licence to the Industrial and Commercial Bank of China (ICBC) to open one branch in Saudi.

New Investment Funds Regulation In The UAE

DIFC may no longer provide a gateway to the UAE financial market.

Standard Chartered May Lose NY Licence Over Iran Ties

New York’s top bank regulator has accused the UK-based bank of hiding $250 billion in transactions tied to Iran.

Oman’s Bank Muscat $251m Rights Issue 128% Covered

The capital raised will be used to fund credit growth and the lender’s upcoming venture into Islamic finance.

UAE Bank Deposits Drop 1.6% In June

Total bank deposits in the country fell from Dhs1.125 trillion in May to Dhs1.107 trillion at the end of June.

Kuwait Posts Record $47bn Budget Surplus Last Fiscal Year

The Gulf state’s surplus for 2011/2012 was boosted by increased oil income and lower spending.

Dubai Financial Market Q2 Profit Drops 31%

DFM’s net profit fell to Dhs10.2 million during the second quarter of the year, as revenues reduced.