Banking
As the population expands, banks and financial institutions in the Middle East continue to enjoy sustained growth, capitalising on the increased demands for loans, mortgages and other financial services. With demand also growing for Shariah-compliant banking, see how the latest financial news and developments impact your business.
Banking daily news »
Bahrain's GIB sets initial price for bond issue
Bahrain's Gulf International Bank (GIB) has said its initial price guidance for its Saudi bond issue will be at 130 to 140 basis points above the Saudi interbank offered rate (Sibor), MEED has reported. The bond will be offered through private placement and will be riyal dominated with a tenor of three years.- » Visa launches money transfer in UAE
- » Gulf Bank posts profit
- » CBQ dollar bond issue would list on LSE
- » Pioneers moots Beltone stake
- » Amlak, Tamweel merger to begin in January
- » Egypt's NSGB net profit drops 20%
- » CBQ launches bond roadshow in US
- » Boubyan Bank posts Q3 loss
- » Al Baraka eyes acquisition in Indonesia
Banking press releases
Top 500 Islamic Financial Institutions ranking shows Islamic finance continues double digit growth despite global crisis
Islamic banking assets continued double-digit growth this year, even as conventional bank growth stagnated, according to The Banker's "Top 500 Islamic Financial Institutions" survey, published in association with HSBC Amanah.- » Al Salam Bank wins award for Milton Gate acquisition
- » British business demonstrates strong interest in UAE
- » New branch for Abu Dhabi Islamic Bank at Al-Mamzar in Dubai
- » RBC CEES expands in Middle East with presence established in Dubai
- » Kuwait International Bank improves financial crime prevention with Complinet
- » Capital Bank sponsors UNCTAD's Empretec Director's Meeting
- » WEF President and AKBANK Chairman join NBK International Advisory Board
- » NBD opens and renovates 28 branches across Egypt
- » UGB announces net profit of $18.2m for 9 months ended 30 September 2009
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Analysis
Sama backs Saudi banks with SR26bn
In an attempt to enhance stability in the Saudi banking sector in light of the global financial turmoil, the Saudi Arabian Monetary Agency (Sama) pumped a sum of SR26bn into local banks, at a time when banking operations through the Saudi Payments Network (SPAN) increased during January over December of 2008 by over 69,500 to more than 28.7 million operations. Banking operation in the same period increased by 2.4 million operations to more than 45.6 million.- » Dubai's banks may eventually seek consolidation
- » BNP Paribas optimistic on Kuwait's banking sector
- » Saudi banking enters an era of growth
- » Unemployed bankers head to Dubai
- » When will the global financial crisis impact on the Middle East?
- » UAE banks skirting global financial crisis
- » Low interest rates boost Mid East bank profits
- » Profits and purchases for Al Khaliji
- » The UAE invests in banks that invest in the UAE
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