#Banks

Standard Chartered opens first branch in Saudi Arabia

The move widens the services Standard Chartered can offer in the country

Why now is the time for banks to strategically review their IT spend

To deliver the future of banking, managing IT spend needs a new approach

Liquid assets in UAE banks increase to Dhs486.58bn in Q1 2021

Liquid assets accounted for 15.9 per cent of the total assets by the end of the reference quarter

Can GCC banks withstand further shocks due to the pandemic?

GDP growth in the GCC countries will slowly recover from last year’s sharp recession

Why regional banks must digitise their trade finance platforms right now

Automating the trade financing platform will enable banks to benefit in numerous ways, according to global IT firm Comarch

How banks can leverage technology to explore the digital economy

JMR Infotech’s innovation adds value to the digital transformation journey of banks and financial institutions in the Middle East and Africa region

Emirates NBD

Dubai’s top bank is said to raise Gulf’s first sustainable loan

Emirates NBD has about $5.7bn of debt maturing this year, according to data compiled by Bloomberg

Saudi wealth fund raises year’s third-biggest loan for new deals

The $400bn sovereign investor is key to the kingdom’s efforts to revive economic growth

Cash dividends worth Dhs29bn proposed by 38 UAE listed companies for 2020

Banks are the largest distributors of profits

Saudi wealth fund may close its biggest-ever loan deal this week

The Public Investment Fund is raising about $15bn from a group of international banks to finance new investments

The SME loan journey: How can it be made easier?

Banks and financial institutions must opt for online credit process with automated elements – offered by companies such as Comarch – to ensure they meet the current market needs

UAE Central Bank imposes fines worth Dhs45.75m on 11 banks

The financial sanctions were imposed on January 24, 2021

Abraham Accords: Impact on talent synergies between the UAE and Israel

The relations between Israel and the UAE will have omnipresent long-term benefits through their similarities

Digital transformation: What are the key challenges that regional banks continue to face?

Digitisation is underway and accelerating in the Middle East – but what are the key technologies being deployed?

How fintech innovations are helping the unbanked across the GCC

As societies adopt more digital payment tools, it is important to bring along the 25 million locally who are still living in cash mode

Oman banks get more flexibility in financing stock investments

Oman’s central bank also said banking sector in the sultanate was “comfortably placed”

UAE SMEs receive Dhs420m trade credit support during Jan-Nov 2020

Etihad Credit Insurance insured the exports of the SMEs as well as their operations in the domestic market allowing them to stay competitive

Abu Dhabi lenders invest Dhs19bn in debt securities for Jan-Sep 2020

The balance of the investments in debt securities by Abu Dhabi lenders totalled Dhs182.5bn at the end of 2019

Outlook 2021: Challenging outlook offers varied picture for GCC banks

The GCC governments’ measures to help corporates and individuals navigate the challenging environment have taken various forms

Year’s biggest bank merger sealed as Saudi rivals agree on deal

The new bank will have total assets of more than $220bn, creating the Gulf region’s third-largest lender

Why GCC banks and fintech startups must realign their interests for greater good

Traditional lenders and fintech players can grow simultaneously, offering customers a myriad of services

Different Arab money

Why SMEs should consider trade financing over legacy banks in this region

Many SMEs do not have access to bank borrowings, purely because banks are generally reluctant to provide funding to companies that have smaller balance sheets

Israel’s two biggest banks sending delegations to UAE

The normalisation process announced last month is the first between Israel and a Gulf Arab state

UAE’s Central Bank launches new deposit facility for banks

The facility is a first step towards implementing the new Dirham Monetary Framework announced earlier this year

Abu Dhabi Islamic Bank CEO Manna resigns after a year on job

The bank’s chief operating officer, Sandeep Chouhan, has been appointed acting CEO

Saudi banks act in unison to reassure investors on oil and virus

Lenders warned that it’s still too early “to determine the size and extent of the financial impact at this stage”

Former chairman of UAE’s NMC urges administrator to act swiftly, supports investigation

Faisal Belhoul said it remains crucial that the investigation into any and all prior wrongdoings at the company is “fully supported”

Emirates NBD approves 40% dividend

UAE’s Emirates NBD launches contactless export trade collections service

Clients can access the new digital feature from the safety of their homes or offices to submit an export collections request

Mobile online banking

Video: Why banks and SMEs in the region should adopt mobile banking solutions

New mobile banking app from Comarch makes it easier for entrepreneurs to manage their day-to-day finance and business tasks

NMC Healthcare

NMC heads to administration after bowing to creditor demands

With a market value of $2.4bn and total debt of $6.6bn, NMC faces an investigation by the UK’s Financial Conduct Authority