Banking/Finance

UAE based compareit4me secures $2.4 million investment in latest round of funding

UAE based compareit4me secures $2.4 million investment in latest round of funding

Region’s leading financial comparison website receives further backing from existing investors, while also attracting investment from influential collection of new investors. compareit4me.com allows users to compare finance and banking products from around the Middle East. compareit4me.com, the leading financial comparison website in the Middle East, has announced that it has […]

 
 

Emirati females more likely to work in Banking & Finance than male counterparts: report

Emirati females more likely to work in Banking & Finance than male counterparts: report

Banking & finance could serve as a key sector for maximising employment for women in the UAE Emirati women are more likely than their male counterparts to consider a position in banking and finance (29% vs 11%) found a major survey on Emiratisation conducted by Oxford Strategic Consulting. The survey also […]

 
 

Honey, I dumped Gold on China!

Honey, I dumped Gold on China!

Who is trying to weigh the yellow metal down? Do you know the answer? Do we have a new hero in the making, say the Yellowman? Just like Batman, works in the dark, at the most unassuming hours and does a whole lot of stuff to which the world wakes […]

 
 

Can Today’s Banks Survive The Next Big Disruption?

Can Today’s Banks Survive The Next Big Disruption?

What is it that the banks fear today the most? There are a variety of risks in the global scenario.  If banks faced a perfect storm in 2008, then they are now set to face the next thing up – call it a potential banking apocalypse claims the authors of […]

 
 

DIFC to domicile 1,000 financial firms

DIFC to domicile 1,000 financial firms

Dubai International Financial Centre (DIFC) to grow three-fold over the next 10 years Aims to position the Centre among the top 10 financial centres globally Plans to domicile 1,000 financial firms in the next 10 years, in comparison to 362 in 2014 Targets increasing combined workforce of Centre from 17,860 […]

 
 

Top 2015 UAE Retail Banking Trends

Top 2015 UAE Retail Banking Trends

With ambitious plans to leverage the Emirates ID, a ubiquitous mobile wallet, and its state of the art 4G infrastructure, the UAE is well poised to achieving its objective of making Expo 2020 an event that showcases life in the 21st century. · In 2015 the digital banking trend is not […]

 
 

MENA M&A Market Expanding Quantitatively and Qualitatively

The MENA M&A market depicted strong activity during 4Q 2014, prolonging its steady performance of the last 2 years. The sustainable economic growth profile, driven by the large fiscal safety net, by the ongoing diversification away from hydrocarbons and by the progressive resurgence of key Arab Spring countries, is increasingly […]

 
 

MENA financial institutions in war against cyber crimes

MENA financial institutions in war against cyber crimes

The outgoing Year 2014 presented a major threat of cyber crimes including hacktivism and spread of western cyber issues to the financial institutions operating in the Middle East and North Africa (MENA) region and future challenges keep haunting the bigwigs of the U.A.E. financial sector. The questions in the minds […]

 
 

Five Financial Fundamentals for 2015

Five Financial Fundamentals for 2015

Dubai based financial consultant Jessica Cook offers five financial fundamentals to get you off to a kick- start the New Year and get your finances in order 2015 is almost upon us and the New Year is the perfect time to try and get your finances in order. Here are […]

 
 

Visa tops demand among MENA shoppers on Ramadan, Eid

Visa tops demand among MENA shoppers on Ramadan, Eid

MENA shoppers prefer VISA cards A visible surge has been recorded in the demand for Visa debit, credit, and prepaid cards off-late as shoppers across the Middle East and North Africa (MENA) region opted for electronic payment method on the occasions of Ramadan and Eid-ul-Fitr this year. According to a […]

 
 

UAE Banking “Stable” : Moody’s

UAE Banking “Stable” : Moody’s

The international rating agency Moody’s Investor Service on Wednesday maintained its stable outlook on the banking system in the United Arab Emirates. The Moody’s statement covered banking system’s creditworthiness over the next 12-18 months and kept its stable outlook unchanged from the 2013 stance. Nitish Bhojnagarwala, Moody’s Assistant Vice President, […]

 
 

Middle East SWFs viewing West with caution, shift investment strategies

Middle East SWFs viewing West with caution, shift investment strategies

2015 will prove to be an active year for SWFs (Sovereign Wealth Funds) in the Middle East, says KPMG Report – UAE is home to one of the largest SWFs in the world – Low interest rates, evolving investment strategies and a growing appetite for alternative asset classes causing shift […]

 
 

G20 must help Financial Services promote economic growth: KPMG

G20 must help Financial Services promote economic growth: KPMG

G20 must help Financial Services promote jobs and economic growth: KPMG report KPMG urges regulatory bodies in the UAE to continue their efforts to ensure the regulatory environment encourages bank lending to SMEs, infrastructure and trade finance New report presented to G20 proposes four recommendations for the financial services sector […]

 
 

New rules for “Too Big to Fail” Banks

New rules for “Too Big to Fail” Banks

During the 2008 and 2009 global financial crisis, banks were bailed out using taxpayers money. It has now been noted that that was “unfair”. Mark Carney, the chairman of the Financial Stability Board (FSB), a global regulator and the governor of the Bank of England unveiled new rules today for […]

 
 

Massive growth potential for Sukuk market in Gulf region: report

Massive growth potential for Sukuk market in Gulf region: report

Massive growth potential for Sukuk market in Gulf region, states Dubai Chamber report The global Sukuk industry is expected to be one of the fastest growing segments of the Islamic finance industry with huge growth potential in the Gulf Cooperation Council (GCC) region; particularly in Dubai where Sukuks are expected […]

 
 

Does Islamic Finance & Halal have a Value Proposition?

Does Islamic Finance & Halal have a Value Proposition?

Islamic finance & Halal are powerhouses that are driving the Islamic economy forward. Whilst using the product-centric approach has worked till date, it’s critical to take on board the sociological changes that have come about. Authenticity & value are the order of the day. Both of these emanate from people. […]

 
 

MENA Banks, Financial Institutions facing US FATCA challenges

MENA Banks, Financial Institutions facing US FATCA challenges

The US FATCA regulation will make it impossible for any financial institute to operate without registering with the Internal Revenue Service (IRS). MENA region, with 48.5% of the world’s proven energy resources, is set to record an economic growth of 4.6% in 2015 from 2.6% in 2013, according to the […]

 
 

High Frequency Trading = Highly Flawed Technology

High Frequency Trading = Highly Flawed Technology

High frequency trading or HFT is one of the tools used nowadays by trading houses in order to carry out huge amounts of trades. These are based on algorithms and computer generated softwares which track the market in terms of nanoseconds and execute trade in real time. This allows traders […]

 
 

Saudi banks urged to shun conservatism

Saudi banks urged to shun conservatism

Saudi banks urged to shun conservatism to optimize and benefit the long term health of the Saudi economy and its banking sector.  Alkhabeer Capital, a leading asset management and investment firm based in Saudi Arabia, and authorized by the Capital Market Authority, has released its latest Saudi Banking Sector Outlook […]

 
 

Middle East Nations Capitalise on Liquidity and Stock Sizes to Attract More Foreign Investors

Middle East Nations Capitalise on Liquidity and Stock Sizes to Attract More Foreign Investors

The economic boost in the Middle East has also extended to the stock market and stock market indices in the region. Most significant in this context are the stock markets in the UAE and Qatar which have gone up substantially since the provisional list of stocks was released by MSCI […]

 
 

Dubai amongst Global Metropolises with Stronger Economic Trends

Dubai amongst Global Metropolises with Stronger Economic Trends

JLL Survey Highlights Dubai amongst Global Metropolises with Stronger Economic Trends In order to determine and map out the futuristic developmental trends of leading metropolises, leading global property consultants, Jones Lang LaSalle (JLL) carried out the first City Momentum Index (CMI) analysis across 111-major cities across the world. The CMI […]

 
 

MENA Banking and Securities companies increase Software spending

MENA Banking and Securities companies increase Software spending

Middle East and North Africa banking and securities companies’ software spending to hit $12.8 billion in 2014 Software spending for the Middle Eastern & North African banking and securities Firms is forecast to grow at 10 percent in 2014, thanks to the expansion strategies of banks and modernizing projects. IT research and […]

 
 

Middle East and Africa witness increased M&A deals

Middle East and Africa witness increased M&A deals

Africa and Middle East Witness Increased M&A Activity: While Limited Confidence and Currency Fluctuations Influence Global M&A Deal Volumes Deals involving high growth markets (HGMs) fall to levels reminiscent of the lowest point of the global downturn Middle East and Africa witnessed increased M&A activity, overtaking the traditional global high growth […]

 
 

S&P Reaffirms Kuwait’s ‘AA’ Rating: Oil Reserves ‘Stabilise’ Outlook

S&P Reaffirms Kuwait’s ‘AA’ Rating: Oil Reserves ‘Stabilise’ Outlook

S&P reaffirms Kuwait’s AA rating and has given the country a ‘stable’ lookout thanks to its existing resources of crude oil. Amidst the growing turmoil that some countries are facing with regard to their credit rating in the international market, Standard and Poor (S&P) one of the world’s biggest credit […]

 
 

Middle East to gain from increased Chinese outbound M&A

Middle East to gain from increased Chinese outbound M&A

Deloitte Survey Reveals Changing Preferential Moods: From China to the Middle-east  Despite the gloom and doom that overrode most of the global economy in 2013, the Asian economic giant China notched some significant successes as far as its economic activities were concerned. Deloitte recently carried out a survey as a […]

 
 

Global Economy on the Uptick – Chief Economist

Global Economy on the Uptick – Chief Economist

Overall Global Economy to See 3.3% Growth in 2014. IHS Top10 Predictions foresees an end to “wallowing in an economic soft patch.” After wallowing in an economic “soft patch” for the past two years, the global economy is likely to emerge in 2014 with modest growth of 3.3 percent compared […]

 
 

New Year, New List – Time to get your Finances in Order!

New Year, New List – Time to get your Finances in Order!

For all of us the New Year represents a lovely, large, blank canvas, which is all yours to paint in whichever colors you choose. So what do you want to achieve in 2014? A good New Year list will of course include financial goals for the year ahead. This might […]

 
 

Global Islamic banking assets to hit $1.72 trillion in 2013

Global Islamic banking assets to hit $1.72 trillion in 2013

Qatar, Indonesia, Saudi Arabia, Malaysia, UAE and Turkey represent 78% of global Islamic banking assets: EY –          Global Islamic banking assets with commercial banks are expected to reach US$1.72 trillion in 2013 –          Islamic banking assets with commercial banks globally reached US$1.54 trillion 2012 Global Islamic banking assets with commercial […]

 
 

Iran and the West set to resume trade

Iran and the West set to resume trade

EU, US firms set to regain lost Iranian trade on the back of temporary trade relief. The West may have singled out Iran’s automotive and aviation sectors for temporary sanction relief, but a much wider group of European and U.S. companies are set to regain lost Iranian trade as soon […]

 
 

World Market Updates – November 14

World Market Updates – November 14

World Market Updates: Brought to you in association with Dubai Gold and Commodities Exchange (DGCX) Academy MARKET PULSE Fed. chairman nominee Janet Yellen said the economy is performing “far short of it’s potential.” Forecast: Fed will pare QE to $70 billion at its March 18-19 meeting from $85 billion. Janet […]

 
 

Moody’s upgrades UAE’s banking system to stable

Moody’s upgrades UAE’s banking system to stable

The outlook for the UAE’s banking system has been changed to stable from negative, says Moody’s Investors Service in a new report published today. The outlook change reflects the continued improvements in the operating environment, as well as the ongoing recovery of the local real-estate market, which Moody’s believes will […]

 
 

Emirates Islamic Bank floats US $1bn sukuk on NASDAQ Dubai

Emirates Islamic Bank floats US $1bn sukuk on NASDAQ Dubai

Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Emirates NBD, rang the opening bell at Dubai Financial Market (DFM) today to celebrate the listing of two Sukuk by Emirates Islamic Bank (EIB) on NASDAQ Dubai. EIB’s choice of the region’s international financial exchange for both of its Sukuk, each with […]

 
 

The Biggest Pension Mistakes to Avoid

The Biggest Pension Mistakes to Avoid

What are the biggest mistakes to avoid when it comes to your pension? All too often I’m immersed in the reality that so very many individuals I work with are putting planning for their financial future on the back burner. Tantamount to financial planning is making sufficient provision for retirement […]

 
 

10 Key Points to Consider When Meeting a Financial Adviser

10 Key Points to Consider When Meeting a Financial Adviser

The first thing any individual needs to do when they undertake any sort of financial planning is to seek out a reputable and regulated advisor and firm. There are many firms to choose from, particularly in the Middle East. Not only is it important to undertake due diligence, it is […]

 
 

The power of Draghi’s words

The power of Draghi’s words

Today’s ECB meeting and subsequent speech by Draghi will shape the future outlook in the markets and will define future policy directions. Words used by influential policymakers often work effectively to shape the future of the financial markets. ECB Chairman, Mario Draghi’s famous promise that Europe would not be left […]

 
 

UAE, Saudi, moving fast towards Cashless society

UAE, Saudi, moving fast towards Cashless society

Two of the biggest economies of the Gulf Cooperation Council (GCC), UAE and Saudi Arabia are moving quickly towards cashless transactions. China (55%) and the UAE (26%) topped the list of countries adopting cashless transactions. Mastercard Advisors new global report The Cashless Journey has revealed that in Middle East, the […]

 
 

Mashreq CEO highlights growing role of Dubai as global hub for trade and finance

Mashreq CEO highlights growing role of Dubai as global hub for trade and finance

Mashreq CEO highlights growing role of Dubai as global hub for trade and finance The Middle East & Africa day at Sibos began with a speech by Alain Raes, Chief Executive, EMEA & APAC at SWIFT, who then introduced to the stage His Excellency Abdul Aziz Al Ghurair, CEO of […]

 
 

The Yellen effect on the World Markets

The Yellen effect on the World Markets

The nomination of the new Fed Chairman has raised key questions about the effects on world markets and new policy going forward. As Larry Summers drops out of contention to become the next Federal Reserve Chairman, it seems the new favorite is going to be Janet Yellen. The announcement comes […]

 
 

Banks prioritise automation and efficiency to drive revenue growth

Banks prioritise automation and efficiency to drive revenue growth

Banks prioritise automation and efficiency in payments and trade finance to grow their transaction banking business 69 per cent cite operational inefficiencies as a barrier to growth in core businesses Cross-border payments processing the top priority for investment globally 84 percent said that increasing payments processing efficiency was a top […]

 
 

Is the worst over for the Indian Rupee?

Is the worst over for the Indian Rupee?

It seems the Indian rupee is still susceptible to volatile price swings — first seen in the 1990’s — and that vulnerability was recently exposed when the rupee fell to an all-time low of nearly 70 rupees per dollar. The exposure of the rupee to international markets seems to have […]