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 »
Deutshe Bank to become GFH shareholder
Gulf Finance House said Deutsche Bank has decided to convert part of an Islamic financing extended to the Bahrain-based investment bank into shares, Bloomberg has reported. Deutsche Bank will receive 78.95 million Gulf Finance House shares worth $30m. This sum is part of a $100m convertible Murabahah facility received from Deutsche Bank.- » KFH-Turkey gets Islamic bank license in Dubai
- » UAE banks get four-day holiday for Eid
- » Kuwaiti banks post $1.3bn profit
- » Tamweel returns to profit in Q3
- » Emirates NBD 'may raise $2bn in bonds'
- » Islamic International Arab to open in Syria
- » Foreign banks withdraw Dhs47bn in H1 2009
- » Standard and Poor's downgrades GIC to 'BBB/A-3'
- » International Investment Bank posts Q3 results
Banking press releases
Moody's assigns ratings to Emirates NBD, ratings on review
Moody's Investors Service has today assigned the following ratings to Emirate NBD PJSC (Emirates NBD), which has been created following the legal merger of Emirates Bank International PJSC (EBI) and National Bank of Dubai PJSC (NBD).- » Moody's assigns A3/Baa1 ratings to GIB's $4bn EMTN programme
- » Ahli Bank implements Fast Track - retail lending tracking system
- » Visa Money Transfer now available via UAE exchange in UAE
- » Gulf Bank's Chief Financial Officer speaks at American University of Kuwait
- » Dubai Bank named 'Best Islamic Bank' by Ethos Consultancy
- » Fitch rates Gulf International Bank's $4bn EMTN programme 'A'
- » Bahrain-based Gulf International Bank B.S.C.'s $4bn Euro medium-term note program rated 'BBB+/A-2'
- » Citadel Capital to go public
- » Fitch rates Emirates NBD 'A+'/outlook stable; withdraws EBI's ratings on merger completion
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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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