The latest episode of AB Majlis dives into the shifts in digital payments, from the dominance of contactless transactions to the rise of AI-powered security and the potential of crypto, painting a picture of a cashless future
financial industry
Latest in financial industry
Bahrain
Arabian Business reveals Power of Finance 2024: The 30 top finance industry professionals in the GCC
One of the primary catalysts for the rise of the finance industry in the Middle East has been the region’s concerted efforts towards economic diversification
financial industry
ICAEW launches mentorship initiative to develop future female finance leaders in Middle East
The first ‘Future Leaders’ programme will run from 24 April to 24 July
banking industry
Finance Middle East to honour industry experts in inaugural awards cermony
The inaugural Finance Middle East Awards will celebrate outstanding achievements in the Middle East’s finance industry
financial centre
Saudi Arabia set to establish its first financial centre
Saudi Arabia’s Ministry of Finance reveals that it is set to open the kingdom’s first financial centre based on unified standards
Bahrain
‘Bahrain is very liberal, female workforce is one of our largest assets’, says CBB boss
Bahrain has one of the most prominent and pioneering financial services sectors established in the region
BNP Paribas Securities
US announces $549mn fines for 11 brokers, investment firms over accounting failure
Wells Fargo and BNP Paribas among those fined for using apps like WhatsApp and iMessage and not keeping proper records
Emirates Institute of Finance
Ethraa Career Fair offers over 400 financial job opportunities for UAE graduates
The fair is part of the Ethraa Initiative, which aims to Emiratise the financial sector and provide 5,000 job opportunities by 2026
financial industry
Saudi financial sector’s combined financing reaches SAR75.45bn in 2022
Financing granted to the individual sector accounted for the largest part at 76%
environment
Inside the mind of Hares Youssef: A philanthropist’s vision to build a new future
Hares Youssef’s journey of self-discovery led to finding a universal value for humanity
DIFC
Innovative thinking and putting the planet first are key for 2023
Sustainability will remain at the centre stage throughout the new year
bilateral cooperation
Saudi-Swiss Financial Dialogue opens in Riyadh
The two sides signed a good will declaration document citing the enhancement of cooperation in a number of areas related to the financial sector, including banking services, financial technology, sustainable finance and insurance
DIFC
DIFC to hold mega global fintech summit in Dubai mid next year
The event, expected to bring together more than 5,000 experts, thought leaders, policymakers from around the world, is to discuss ways to shape a new wave of innovation, enterprise and growth for the international financial industry
banking industry
GCC financial sector to see fierce rivalry with pure-play fintech players like YAP set to enter lending segment
So far, fintech ventures have been majorly confined to challenging traditional players in the financial and banking sector in their digital segments with smarter and faster financial tools
female leadership
Sheila Alrowaily first female to join the board of Saudi’s central bank
Alrowaily is among a growing number of women taking leadership roles in finance across the region
bank customers
Customers trust your bank but who does your bank trust?
Banks need to better evaluate their choice of payment processors to avoid outage incidents that could harm their reputation and inconvenience customers left standing at supermarket counters with trolleys full of shopping unable to pay for groceries
Abu Dhabi
Abu Dhabi’s ADCB records 32 percent increase in net profit to $403.74 million despite global uncertainty
ADCB has consistently been proactive in supporting the rescue and turnaround of the NMC Group, which led to the bank receiving 37.5 percent of a new $2.25 billion facility issued by NMC HoldCo SPV Ltd