Banking

Related Content

SME Banking

EIB blocks ATM cards in Russia, Italy
Emirates Islamic Bank has issued the following statement clarifying the usage of its ATM cards in Russia and Italy: 'Following the precautionary reminder SMS circulated by Emirates Islamic Bank to its credit card customers on January 8th 2009 informing them that the bank has blocked card usage in Russia and Italy for transaction security, and following the numerous telephone calls received inquiring about its content, EIB management wishes to clarify this SMS is only a reminder as transactions in the said countries (Russia and Italy) have been already blocked a few months ago ie: it is not a new development but business as usual.
United Arab Emirates: 2 hours, 41 minutes ago

Bank Al Jazira plans $40m dividend
Saudi Arabia's Bank Al Jazira said yesterday it plans a SAR150 million ($40m), or SAR0.5 a share, cash dividend payout for 2008. The bank's board will present the dividend payout proposal to the shareholders meeting that will take place in the first quarter of the year.
Saudi Arabia: 4 hours, 18 minutes ago

UAE banks up withdrawals from Central Bank
UAE banks continued to withdraw their funds from the Central Bank in the second half of 2008 to offset a steep drop in deposits. After regaining nearly Dhs69bn in the second quarter, the country's 24 national banks and 28 foreign units withdrew a further Dhs63bn between June and October, showed the figures by the Central Bank. The withdrawal was reflected in a sharp decline in the Central Bank's certificates of deposits balance from a peak of Dhs185.6bn at the end of March to Dhs116.7bn at the end of June and around Dhs53.6bn at the end of October, according to the figures.
United Arab Emirates: 5 hours, 12 minutes ago

Shuaa delists from Kuwait bourse
Shuaa Capital yesterday confirmed that it has delisted from the Kuwait Stock Exchange, citing conflicting regulatory requirements as the reason for the move. The Dubai-based investment bank is now solely listed on the Dubai Financial Market, having delisted from the KSE on Jan 1.
United Arab Emirates: 9 hours, 36 minutes ago

Al Rajhi Bank installs chip-card ATMs
Al Rajhi Bank, the largest Islamic Bank in the world in terms of market capitalization, has announced that it is installing advanced Automatic Teller Machines (ATMs) across Saudi Arabia that accept chip-cards based on international standards. Visa operates the world's largest retail electronic payments network and has provided technical and consultancy support for the installation, which will enable all Visa chip card transactions to take place using the chip on the card rather than the less secure magnetic stripe at any of Al Rajhi Bank ATMs. The new ATMs will be situated at malls, streets, petrol stations, hospitals, airports and hotels and are already in operation. The ATMs will still be able to accept cards without a chip.
Saudi Arabia: Wednesday, January 07 - 2009 at 15:57

BLME completes refinancing deal with Premio
Bank of London and The Middle East, the standalone, London-based shariah-compliant bank, has today announced the successful completion of a £31.5m finance transaction for Premio Group Holdings. BLME arranged and funded the three year transaction to refinance Premio's property portfolio in Mayfair, London. Under the terms of the agreement the owner can draw and repay the facility to manage its property portfolio over the term of the funding using fixed term tranches. This is the first Islamic finance transaction completed by Premio Group Holdings.
Middle East: Wednesday, January 07 - 2009 at 15:21

Noor curbs overseas expansion plans
Dubai's Noor Islamic Bank has put its overseas expansion plans on hold because of difficult global economic conditions and a tight credit market, chief executive officer Hussain Al Qamzi said yesterday. However, he maintaned that the bank, launched with more than $1bn in capital and ambitions to become a major global Islamic banking player, would continue to expand in the home market, reported Gulf News.
United Arab Emirates: Wednesday, January 07 - 2009 at 07:45

Abu Dhabi bank chief resigns
The chairman of National Bank of Abu Dhabi, Khalifa al-Kendi, has resigned, the bank said today in a statement. No reason was given for his departure. Nasser Ahmad al-Suweidi replaced Kendi, who submitted his resignation on Monday.
United Arab Emirates: Tuesday, January 06 - 2009 at 13:59

Index : Banking