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?

Today

The line provides reassurance about Morocco's economic policies to foreign lenders, investors and rating agencies, allowing it to tap international capital markets at favorable borrowing terms.
04:55 GMT

The International Monetary Fund said on Monday it will provide Morocco a $5 billion credit line to help the North African country pursue a reform agenda to achieve rapid and more inclusive economic growth.

July 29, 2014

Gulf International Bank
10:14 GMT
(press release)

Gulf International Bank B.S.C. (GIB) reported consolidated net income after tax of US$50.2 million for the six months ended 30th June 2014, compared to US $60.6 million in the prior year period. Net income after tax in the second quarter was US$21.1 million.

July 27, 2014

CIMA
09:43 GMT
(press release)

The Chartered Institute of Management Accountants (CIMA) has announced several new opportunities for students and professionals across the GCC to acquire the globally certified qualification at special rates if enrolled before 31 July 2014.

During the event
05:52 GMT
(press release)

Gulf Bank is welcoming its third batch of eager young adults that will be undergoing a 5 week Internship Program via ‘Lothan Youth Achievement Center’ (LOYAC) which specializes in preparing youth in Kuwait to assume leadership roles in their future careers.

July 24, 2014

Emirates NBD profits were helped by revenue growth in Retail Banking & Wealth Management, along with the Islamic banking subsidiary, Emirates Islamic (File/AFP)
13:55 GMT

The UAE's largest bank, Emirates NBD, reported a net profit growth of 30 percent for the first half of the year.

KIPCO is Kuwait's largest privately owned investment company (Image: URC)
12:22 GMT

Kuwait's largest privately owned investment company said it was on track to meet the target of a double-digit rise in revenue this year.

Dr. Adnan Chilwan, Chief Executive Officer at Dubai Islamic Bank
06:46 GMT
(press release)

The Government of Pakistan has appointed the consortium headed by Dubai Islamic Bank (DIB) as the Financial Advisor on the Restructuring of Pakistan International Airlines Corporation.

July 23, 2014

Mr. Majed Essa Al Ajeel, Chairman of Burgan Bank Group
09:55 GMT
(press release)

Burgan Bank Group announced its first half results for the financial year 2014. Burgan Bank Group reported net income of KD33.3 million for the first half of the financial year 2014 reflecting 19.4% growth.

Sharjah Islamic Bank
06:27 GMT
(press release)

Sharjah Islamic Bank announced its 1st Half 2014 results with Net Profits reaching AED 202.1 million, compared to 134.7 million achieved in the same period last year, a 50% growth rate.

The Bank continued to show its support to the national agenda by appointing Abdul-Qader Al Sumali and Sulaiman Al-Lamki into senior executive positions.
04:05 GMT

HSBC Bank Oman continued its branch investment programme with more branches refurbished to help deliver the best in-branch customer experience

July 22, 2014

Sharjah Islamic Bank
06:25 GMT
(press release)

Sharjah Islamic Bank has launched their Splendid Summer Offer – a new highly competitive personal finance product with the lowest rates ever, starting from only 2.99%.

 Major global stock markets fell and bond prices ralliedas worries over conflict in the Gaza Strip and Ukraine raised uncertainty for investors and kept them away from riskier assets.
04:55 GMT

Shocks to the system from Ukraine and Israel’s ground invasion of Gaza come at a time when markets have been worried about economic growth on both sides of the Atlantic and digesting second-quarter earnings reports.

July 21, 2014

Ambar Brahmachary, Head of Marketing & Customer Experience
06:55 GMT
(press release)

Mashreq, UAE’s leading financial institution, received the Superbrands 2014 for the 4th year in a row from the Superbrands Council UAE.

Other powerhouses in Dubai also crashed.
04:55 GMT

Arabtec was suspended from trade on Thursday due to ambiguity on share ownership by Aabar Investments.

FBME was originally established in Cyprus in 1982 as a subsidiary of the Federal Bank of Lebanon SAL.
03:18 GMT

“The Central Bank of Cyprus announces that, under the powers conferred to it by the relevant legislation, [it] has taken over, as of today, the management of the operations of the branch of FBME Bank Ltd. in Cyprus."