Thursday 2 July 2015
 
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National Bank of Oman not to buy United Finance

National Bank of Oman has walked away from talks to buy United Finance after due diligence, it said on Tuesday. "After careful consideration, NBO now wishes to confirm that it will not be pursuing this transaction further and would like to express their regret

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Ithmaar wins e-payment excellence award

Ithmaar Bank, a Bahrain-based Islamic retail bank, announced that it achieved exceptional operational efficiency in 2014 to earn an excellence award from Standard Chartered Bank. The bank was awarded the ‘Straight Through Processing (STP) Excellence Award’ for achievi

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Bank Muscat, AXA in deal to offer life insurance in Oman

Bank Muscat, a leading financial services provider in Oman, has signed a 10-year partnership agreement with leading international insurer in the region AXA Gulf, to offer bancassurance products covering life protection, investment and savings to its customers. The formal agreemen

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Noor Bank marks listing of sukuk on Nasdaq Dubai

Hussain Al Qemzi, CEO of Dubai-based Noor Bank, a leading Islamic bank, today (June 30) rang the market-opening bell to celebrate the listing of a $500 sukuk on Nasdaq Dubai. The event was attended by Essa Kazim, Governor of Dubai International Financial Centre (DIFC), secretary

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Abu Dhabi finance zone gears up for opening

Abu Dhabi's new financial free zone, which aims to become a top banking centre for the region, took a step towards opening for business by issuing draft laws covering fund management, market operations, information disclosure and enforcement of its rules. The drafts will be a

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Investment programmes see big demand in Mena

Russia and CIS countries have the highest demand for citizenship-by-investment programmes in the world, closely followed by the Mena region, a report said. The Malta Individual Investor Programme (IIP), widely considered the world’s most advanced and most exclusive citizens

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EFG International names new board member

EFG International, a global private banking group, has nominated Dr Susanne Brandenberger, a highly experienced risk management practitioner, to be a member of its Board of Directors. This is subject to regulatory approval as well as the approval of shareholders at an Extraordina

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ADIB launches 'women in leadership' programme

Abu Dhabi Islamic Bank (ADIB), a top tier financial services institution, has launched the Tamkeen Women in Leadership Programme, a leadership training programme dedicated to female bankers. The programme aims at encouraging more women to progress to senior leadership roles withi

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DBS Bank gets approval to issue LCs for trading on DME

The Dubai Mercantile Exchange (DME) said the DBS Bank’s Singapore office has approved to issue letters of credit (LCs) for trading crude oil on the exchange. DBS is the first Singapore bank to receive such approval and will be able to issue LCs directly from Singapore on be

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Bank of America Merrill Lynch wins top M&A award

Bank of America Merrill Lynch has been recognised as the ‘Best M&A House in the UAE’ at the 2015 Euromoney Middle East Awards for Excellence recently. The bank has worked on some of the UAE and wider GCC region’s highest profile mergers and acquisitions, sai

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