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 »
UAE's bank debt to rise in 2010
Non-performing loans are expected to swell almost 50% to nearly Dh65bn ($17.69bn) in the UAE this year, the National has reported. The rise is likely to force lenders to set aside more reserves to protect themselves. 'Non-performing loans are already at a reasonable level,' Sultan Nasser al Suwaidi, the Central Bank Governor, was quoted as saying yesterday. 'If you take into account write-offs, non-performing loans would be higher.'- » Emirates NBD launches Jersey Offshore Deposits
- » Tamweel posts Dhs11m profit in Q4
- » Kuwait cuts discount rate by 50 bps
- » Saudi bank to open 90 new branches
- » Dubai Islamic Bank inks deal with UAE ministry
- » Saudi Fransi booked highest loan loss impairment in Q4
- » RAK Bank '09 profit rises 14%
- » EFG Hermes moots RBS Pakistan offer
- » Emirates NBD to fine late salary payments
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Banking press releases
Dubai Bank ties up with Dubai Land Department to offer custom-made payroll packages
In another demonstration of its high-value offering to both retail and corporate customers, Dubai Bank today announced its tie-up with the Dubai Land Department (DLD) to offer custom-made payroll packages for employees of the department.- » Akbank brings together Turkish companies with Abu Dhabi's Invest AD
- » American Express Middle East and North Africa signs British Airways, Air France and KLM to its...
- » Capital Bank launches its new program 'Capital Home Loans' with unprecedented features
- » QNB Al Islami partners with Awqaf Ministry to launch Thimaar
- » Standard Chartered UAE leads on first Financial Markets Forum
- » BMI Bank outlook revised to negative on weakening asset quality and financial performance; 'BBB-/A-3'...
- » Qatar Islamic Bank announces QR1.3bn net profit for 2009
- » DED and Dubai Islamic Bank sign agreement to ease electronic payment procedures
- » VRL predicts 60% of purchases will be prepaid by 2015
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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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