banking

  • Cisco to Address Importance of Robust Cybersecurity for Financial Institutions at the ISFS 2016 in Doha

    Cisco today announced its participation in Qatar Central Bank’s third annual Conference for Information Security in Financial Institutions 2016 (ISFS 2016), to be held on November 1, 2016 at Sheraton Doha. The event will address information security in the critical financial services sector and the challenges it faces, and shed light on the required infrastructure improvements and the role played by cooperation and preemptive moves in electronic protection. Cisco will use this platform to share insights on how cybersecurity concerns do not need to be a hindrance to digital innovation and how retail banks can transform cybersecurity from a liability into an asset that supports customer trust, innovation and growth.

  • Commemorative Coins and Currency in honor of the Founding Father

    Central Bank of the UAE (CBUAE) is pleased to announce that it is issuing a commemorative silver coin, a commemorative one Dirham coin and an AED 100 denomination Bank Note with “Year of Zayed” logo coinciding with the 47th National Day of the UAE celebrations.

  • Commodities bask in six-year quarter high

    All commodity sectors, apart from grains, are back in demand following the Brexit vote on June 23. Record low bond yields on the back of raised speculation about renewed central bank action supported metals of all colors. Sugar and coffee found support in Brazil while oil settled down after the initial squeeze and natural gas surged on improved fundamentals. 

  • Commodities fired up by fading dollar

    The Bloomberg Commodity index has rallied by almost 18% since hitting a 17-year low back in January. The strong rally has attracted investors back into an asset class which for the best part of five years had been out of favour. Oversupply of key commodities especially oil has started to be reduced with the 19-month selloff forcing a reduction in output from high cost producers while attracting demand.

  • Commodities focus on looming Brexit vote

    Market activity has increasingly been dictated or distracted by the uncertainty surrounding the UK referendum vote on June 23. Opinion polls indicating rising support for the Leave camp sent investors looking for cover with stocks falling and bonds rising.

  • Commodities hurt by global market rout

    Commodities remained exposed to broad-based selling this past week. For a third consecutive week, the sector struggled to put up a defence against the challenging combination of rising US interest rates, a strong dollar and the global equity rout, which has now spread to the US market.

  • Commodities lower as funds scale out — #SaxoStrats

    Most commodity prices moved lower again this week with the Bloomberg Commodity Index touching a four-month low. The weakness has been triggered by funds scaling back bullish futures bets across all three sectors of energy, metals, and agriculture.

  • Corporates pilot to start testing new multi-bank payments tracking on SWIFT gpi

    SWIFT, along with a number of corporates and banks, today announces plans to start testing an enhanced multi-bank standard to further improve the cross-border payments experience for multi-banked corporates. This enhanced standard, designed and built in conjunction with 10 multinational corporates and 12 leading banks, streamlines the process for corporate treasurers by allowing them to initiate and track gpi payments to and from multiple banks in a single format and integrate gpi flows in ERP and Treasury Management Systems.

  • Crude at four-month high, but bad week for metals

    Head of Commodity Strategy at Saxo Bank Ole Sloth Hansen

    The rally in crude oil and related products continues, and during the week it helped offset losses in industrial and precious metals, leaving the BBG Commodity Index flat on the week. 

  • Crude oil now at risk of deeper correction

    The commodity sector was trading close to unchanged for a second week. Weakness in energy and especially precious metals was offset by gains across the agriculture and industrial metal sectors. 

  • Currency Swaps Through Renminbi Clearing Centre Boost UAE – China Trade

    As part of joint efforts to foster a closer trading relationship and develop increased investment opportunities, the Central Bank of the UAE and the People’s Bank of China signed a bilateral currency swap agreement and an MOU to establish a Renminbi (RMB) Clearing Centre in the UAE in December 2015. Swaps through the Center grew consistently, increasing a further 42% in H1 2018, compared to levels recorded at end of 2017.

  • DAE announces successful closing of US$ 800 Million Revolving Loan Facility

    Dubai Aerospace Enterprise (DAE) Ltd. announced that it had successfully closed its US$800 million revolving loan facility, which was launched in May of this year. The credit facility, initially launched for an amount of US$480 million, attracted the appetite from a broad group of banks and achieved substantial oversubscriptions.

  • Deutsche Bank appoints Fred Hilal Head of Wealth Management in the Gulf Region

    Deutsche Bank today announced the appointment of Fred Hilal as Head of Wealth Management in the Gulf region (excluding Kingdom of Saudi Arabia). In this role, Hilal will lead Deutsche Bank’s client coverage across the Gulf. Based in Dubai, he reports to Steve Wainwright, Head of Wealth Management Middle East and Africa.

  • Deutsche Bank appoints Jamal Al Kishi as Chief Executive Officer, Middle East and Africa and Salah Jaidah, Chairman Middle East and North Africa

    Deutsche Bank today announced the appointment of Jamal Al Kishi as Chief Executive Officer, Middle East and Africa with immediate effect, replacing Ashok Aram who as previously announced is relocating to Frankfurt as Chief Executive Officer Europe, Middle East and Africa (excluding Germany and the UK). Al Kishi, subject to regulatory approvals, will remain Chief Executive Officer Deutsche Securities Saudi Arabia. Al Kishi will chair the Middle East and Africa (MEA) Executive Committee. 

  • Deutsche Bank Moves Reconciliation Services to SmartStream to Further Improve Processing and Reduce Costs

    As part of its transformation strategy, Deutsche Bank has selected SmartStream Technologies’ Centre of Excellence (CoE) to provide an off-site operations platform - including three services which will allow the bank to streamline, simplify and reduce the costs of its reconciliations environment.

  • DFSA signs MoU with Bank Al Maghrib

    The Dubai Financial Services Authority ("DFSA") has signed a Memorandum of Understanding ("MoU") with Morocco’s Bank Al Maghrib to cooperate in the authorisation and supervision of banks operating in the Dubai International Financial Centre (DIFC) and the Kingdom of Morocco.

  • Diebold Nixdorf And RAKBANK Enable Samsung Pay On ATMs In United Arab Emirates

    RAKBANK, one of the leading banks in the United Arab Emirates (UAE), in partnership with Diebold Nixdorf, the leader in driving connected commerce, has launched Samsung Pay on their ATMs. With more than 250 Diebold Nixdorf (NYSE: DBD) ATMs, RAKBANK is maximizing consumer convenience by enabling cardless ATM transactions via the Samsung Pay mobile wallet on their smartphones.

  • DIFC Wills & Probate Registry Partners with Emirates NBD to offer peace of mind in monthly instalments

    DIFC Wills & Probate Registry (WPR) has announced a major new partnership with Emirates NBD, one of the leading banks in the region to ensure that for the first time ever, individuals that want to secure their assets in Dubai can now do so for a manageable monthly cost. The landmark new relationship will see Emirates NBD, one of the biggest national banks in the region, offering zero per cent payment options to their customers over the period of up to 12 months upon registering a will with WPR. It has been specifically designed to offer peace of mind to people who are looking to spread the costs of registering a will, whether they are living, investing or conducting business in Dubai.

  • Digital Banking: What to Expect in 2017

    The banking sector in the Middle East & North Africa is entering into a period of mass digital transformation. This new era will positively impact financial institutions that adopt a top-down, concerted approach to the new digital era and, at the same time, hamper those institutions that do not effectively adapt to change. . Five key trends expected in 2017 include:

  • Distribution of New Banknotes During Eid Seasons

    On the blessed occasion of Eid Al Adha, CBUAE wishes the UAE leadership, the public and all the Arab and Islamic countries many happy returns. Moreover, CBUAE confirms that it has provided all banks operating in UAE with new banknotes to meet their customers’ needs, in line with UAE’s social traditions during Eid Seasons.