Banking & Finance

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A bank assistant counts through money in Lebanon (File/AFP)
July 24, 2014 - 13:29 GMT
U.S. legislation to increase financial sanctions on any organization funding or channeling money to Hezbollah won't have any impact on Lebanon's banking sector, according to a report. A sigh of relief?

May 27, 2014

David Haigh, who until March was deputy chief executive of Dubai-based GFH Capital, a unit of Bahrain’s Gulf Finance House, has been referred to Dubai’s public prosecutor for trial.
22:26 GMT

A former managing director of English Championship club Leeds United has been arrested in Dubai on charges of embezzling Dhs23.7 million ($6.45 million)

Emirates Islamic's CEO with first batch of UAE national school graduates who completed training under Al Mustaqbal programme
10:24 GMT
(press release)

Emirates Islamic announced that 13 Emirati youth had successfully completed the first phase of training under its in-house Al Mustaqbal initiative.

Raghu Malhotra, Mohamed Qadadeh and Aurangzaib Khan from MasterCard with Naeemudin Khan and Mustafa Hamdani from Bank of Punjab
10:14 GMT
(press release)

MasterCard and the Bank of Punjab today announced the launch of the Social Security Program to automate and streamline government disbursement, subsidy and assistance programs.

Mashreq Max 2.0
09:19 GMT
(press release)

Mashreq Bank today launched the Mashreq Max 2.0, one of the most technologically-advanced banking innovations.

The prime minister has repeatedly called for an emergency rate cut, while the central bank has vowed to maintain its policy as long as inflation is high
03:55 GMT

Erdoğan has expressed extreme distaste for the central bank on multiple occasions in recent months, on this occasion adding that the small decrease was “a shame and a sin” and that he definitely did not like the central bank's interest policies.

May 26, 2014

Saeed said the highest level the stock market has witnessed occurred in 2008, when it registered 12,000 points, followed by a slump for five years.
20:17 GMT

The Egyptian Stock Market witnessed a significant rise in its main index EGX-30 index on Monday, recording 8,736.28 points, its highest level since 2008.

Burgan Bank new Co-branded Credit Card with Qatar Airways
05:54 GMT
(press release)

Burgan Bank, one of Kuwait’s leading banks, Qatar Airways, flag carrier airline of Qatar and MasterCard today announced the launch of the new Burgan Bank Qatar Airways co-branded MasterCard Credit Card.

Khosravi's fraud case is the largest corruption case reported in the country since the 1979 Islamic Revolution (AFP)
03:55 GMT

Khosravi’s business empire included more than 35 companies from mineral water production to a football club and meat imports from Brazil. According to Iranian media reports, the bank fraud began in 2007.

May 25, 2014

22:28 GMT

France set a new record in 2013 in terms of the number of GCC investment initiatives taken, especially in manufacturing activities and research and development operations.

Sharjah is the third-largest member of the UAE in terms of population, GDP, and geographic area.
03:55 GMT

The affirmation primarily reflects the solid growth in Sharjah’s GDP per capita.

May 22, 2014

Dr. Lamees Abdul Majeed AlQaisi, the Group Head of Business Continuity Management at NBAD (second left), receives the BCM Team Award
11:07 GMT

The Business Continuity Institute (BCI) Middle East Awards named the National Bank of Abu Dhabi (NBAD) as the BCM Team of the Year 2014.

Tooran Asif, Head of Personal Banking, Mashreq
09:00 GMT
(press release)

Mashreq has today announced the launch of a special savings account, ‘DreamSaver’ that encourages customers to save regularly in order to achieve a pre defined financial goal.

During the event
05:25 GMT
(press release)

Emirates Islamic, one of the leading Islamic financial institutions in the UAE, today honoured the three lucky winners of the Kunooz quarterly prize draw for the January - March 2014 period.

May 21, 2014

During the event
11:17 GMT
(press release)

In support of its efforts to enhance financial awareness, Abu Dhabi Securities Exchange (ADX) recently organised a lecture on stock prices changes for its investors at ADX headquarters.

Abu Dhabi Commercial Bank
10:10 GMT
(press release)

Abu Dhabi Commercial Bank announces the implementation of a new Cash Management mandate with Abu Dhabi Finance, a leading home finance provider in the UAE, that will boost ADF’s internal efficiency.