Thursday 26 November 2015

SAIB to use Wynyard risk management software

The Saudi Investment Bank (SAIB), a leading commercial bank in the kingdom, will use risk management software from Wynyard Group, a market leader in crime fighting software, to comply with regulatory environment. Hassan Khalaf Al-Faori, head of Compliance said: "With the ban


Bahraini Islamic bankers attend leadership programme

A selected group of 37 Bahraini professionals from the Islamic banking industry travelled to Hong Kong and Toronto to take part in an intensive 17-day leadership programme.    Conceptualised by the Waqf Fund and designed and delivered by the Ivey Business S


CrediMax wins ‘best credit card issuer’ honour

CrediMax has been named the ‘Best Credit Card Issuer and Acquirer’ in Bahrain for 2015 by Global Banking & Finance Review publication. Company chief executive Yousif Ali Mirza received the award during a ceremony in the UK, said a report in the Gulf Daily News (GDN),


BBK achieves IT security system boost

Bank of Bahrain and Kuwait (BBK) has achieved the ISO 27001:2013 certification for its information security management system. The certification process involved a rigorous audit, which was conducted by Bureau Veritas on all of the bank’s information security management, said a report i


GCC expats ‘sent home $80 billion’

Foreigners working in the GCC sent home $80 billion last year alone, according to a labour expert. Cash transferred from the GCC accounted for one-fifth of remittances to developing countries, said International Organisation for Migration (IOM) labour mobility and human development division h


Bahrain PM orders red tape crippling business to be slashed

Bahrain’s Premier has stepped in personally to order red tape that is crippling business to be slashed to ensure investment flows and stalled projects are kick-started. He directed authorities to tackle multi-layered bureaucratic obstacles that are impeding investors and delaying their


Emirates Development Bank in deal with Abu Dhabi TDC

Emirates Development Bank (EDB) has signed an official agreement with the Abu Dhabi Technology Development Committee (TDC) – the UAE government entity focused on the development of human capital in the science and technology sectors.   The document, which


Qatar riyal sinks in forwards market on loan concern

Qatar's riyal fell sharply in the forward foreign exchange market on Wednesday as traders cited concern that Qatar might have trouble agreeing with banks on the pricing of a syndicated loan of up to $10 billion. The drop was part of widespread volatility in money markets acro


Saudi considering subsidy cuts; VAT

Saudi Arabia may reduce energy and water subsidies for wealthy citizens, impose a value added tax (VAT) and taxes on unhealthy goods like cigarettes and sugary drinks, Deputy Crown Prince Mohammed bin Salman was quoted as saying on Wednesday. The world's top oil exporter has


NBK-Egypt 9-month profit up 63pc

National Bank of Kuwait-Egypt (NBK-E), reported net profits of EGP445.6 million ($56.7 million) for the first nine months of 2015 compared with EGP273.5 million for the same period last year, an increase of 62.9 per cent year-on-year (y-o-y). As of end of September 2015, NBK-Egyp

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