Arthur D Little says it is inevitable that non-performing loans will rise ‘quite substantially’ in the next year or two
Commercial banking
Blom Bank
Lebanon’s banks impose commission fee on international transactions
The move affects Lebanese in and out of the country, including those in the Gulf, making goods and services purchased abroad more expensive
Dubai largest bank
Dubai’s Emirates NBD is said to raise Gulf’s first sustainable loan
Sustainability-linked loans tie deal spreads to borrowers’ performance in environmental, social and governance goals that can be measured by key performance indicators or external ESG ratings
digital banking
Fintech, digital banking makes gains against traditional banking systems
Digital banking is not a fixed concept but a spectrum, and individual banks need to decide where on that spectrum they wish to place themselves, says Paul Kayrouz
Targeted Economic Support Scheme
UAE says Covid support fund has helped 320,000 customers so far
Central bank governor hails the impact of the Targeted Economic Support Scheme since its launch in March 2020
Alawwal Bank
SABB and Alawwal Bank complete historic merger
The move creates the third largest bank in Saudi Arabia
bank merger
Why UAE banks are in no rush towards consolidation
Latest UAE Banking Pulse report from Alvarez & Marsal reveals aggregate net profit of the top 10 banks in the country declined by 38.3% year-on-year
Britain Muslims
Meet the British millennial who is bringing Islamic finance to the masses
The UK landscape is ripe for the growth of modern Islamic banking, according to Islamic FinTech CEO, Areeb Siddiqui
Financial Services
HSBC Singapore chief executive tapped to run Saudi British Bank
Tony Cripps will replace CEO David Dew at SABB, who is retiring in May
Emirates NBD
Dubai’s biggest bank makes major move into insurance with MetLife deal
Emirates NBD partners with New York insurance giant to offer range of insurance products
Banking sector
HSBC focuses in on green finance amid Middle East expansion plan
Banking giant says MENAT region is likely to be one of the fastest growing in the world over the next decade
First Abu Dhabi Bank joins Middle East lenders in raising provisions
Banks in the Gulf region are raising provisions to offset an expected increase in sour loans due to the twin shock of plunging oil prices and the coronavirus fallout
Commercial Bank of Dubai to open up shares to foreign investors
Bank has set a foreign ownership limit of 40 percent
Bank Muscat completes $150m loan facility from China
Loan from China Development Bank will be used for the bank’s financing operations
Dubai’s Emirates NBD says 100m shares were bought by 254 unique investors
The largest purchase by one single investor was 10,116,892 shares
HSBC launches new ‘perfect’ bank account for UAE millionaires
Jade is a bespoke bank account offering a combination of personalised relationship management, advanced wealth solutions and luxury lifestyle services