Banking & Finance

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"Annual credit growth is likely to be closer to 14-17% y-o-y"

Qatar expansion driving down credit growth - Barclays

May 21, 2013 - 10:11 GMT

Qatar’s banks’ credit is likely to grow by 14% to 17% year-on-year (y-o-y) in 2013, much lower than the average 27% expansion seen in the previous two years, according to a Barclays study.

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May 14, 2013

NBAD sponsors Abu Dhabi Investment Forum in Paris

10:21 GMT

The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, will sponsor the Abu Dhabi Investment Forum (ADIF) to take place May 22nd, 2013 in Paris, France.

Sheikh Mohammed Bin Rashid Al Maktoum Patrons of the Arts Award honours Alpen Capital and Bank Sarasin-Alpen for their contribution to the arts for the fourth consecutive year

09:41 GMT

(press release)

Sheikh Majid bin Mohammed bin Rashid Al Maktoum award to Alpen Capital and Bank Sarasin-Alpen on 13th May 2013 at an awards ceremony held at the JW Marriott Marquis Hotel.

Bankers urge Islamic banks to develop their own financial reporting standard

03:55 GMT

Central banks of the Islamic countries have been urged to adopt a separate set of regulation to reduce confusion among Muslim scholars

Dubai Financial Market gains 0.5%, reaches four-year high

03:17 GMT

The UAE markets rose in tandem on Monday, with Dubai Financial Market gaining 0.50 per cent and Abu Dhabi Securities Exchange 0.43 per cent.

May 13, 2013

Egypt Central Bank sells $3bn worth of Egyptian bonds to Qatar

13:19 GMT

The Central Bank of Egypt (CBE) received a $3bn Qatari deposit for the purchase of Egyptian bonds on Thursday, confirmed Nidal Assar, the sub-governor of the CBE.

Emirates NBD launches new business privileges programme for UAE-based SMEs

10:37 GMT

(press release)

Emirates NBD, a leading bank in the region, announced today the launch of ‘Rewards & Beyond,’ a brand new business privileges programme for its Business Banking customers.

Egypt seeking urgent IMF loan

10:30 GMT

Prime Minister Hesham Qandil stated that negotiations currently being held with the IMF to secure the country’s pending $4.8bn loan were ongoing

Agreement to better military supply in Bahrain signed

10:22 GMT

Khaleeji Commercial Bank (KHCB) has signed a three-way memorandum of understanding (MoU) with Bahrain Defence Force's Military Consumer Association (MCA) and its main supplier Glabrous International (GI).

UAE Exchange and Bahrain-based Dadabhai Travel, join hands for cash collection services

09:34 GMT

UAE Exchange, the leading global remittance and foreign exchange brand and Bahrain-based leading travel company, Dadabhai Travel today announced their joining hands for cash collection services in the UAE.

NBAD appoints Regional Manager in Kuwait

09:03 GMT

The National Bank of Abu Dhabi (NBAD) has appointed May Al Mudhaf as NBAD’s Regional Manager in Kuwait.

Gulf Bank concludes its platinum sponsorship of the GUST Spring Job Fair

08:55 GMT

(press release)

Gulf Bank hailed the success of its platinum sponsorship of the Gulf University of Science and Technology (GUST) Spring Job Fair.

May 12, 2013

Q1 -2013 Underlying performance remains solid: KD20.4 million Net Income Excluding Provisions reflecting 16% Year-on-year growth

11:19 GMT

(press release)

Burgan Bank Group reported today KD 15.6 million net profits for the first quarter of 2013 after taking KD 5 million in precautionary provisions.

Al Hilal Bank is unrelated to Al Hilal Exchange

06:58 GMT

(press release)

Al Hilal Bank is clarifying that it has no connections at all with Al Hilal Exchange, a money transfer and currency exchange service provider which recently had its licensed revoked by the UAE Central bank.