Monday 6 July 2015

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


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


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


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


DIFC assets under management to hit $250bn

Assets under management of fund managers and financial institutions in Dubai International Financial Centre (DIFC), a global financial hub, are estimated to reach $250 billion by 2024, up from $10.4 billion in 2014, said top official. “The Mena region domiciles nine of the


UAE signs up as founding member of AIIB

The UAE has become a founding member of Asian Infrastructure Investment Bank (AIIB) in Beijing, an international financial institution that was first announced during the 2013 Asia-Pacific Economic Cooperation (APEC) session. Dr Sultan Ahmed Al Jaber, UAE Minister of State led di


Kuwait non-oil growth steady at 5pc

Kuwait’s non-oil growth will maintain a steady 5 per cent in 2015 and 2016 as project implementation improves, a report said. Kuwait’s economic growth is set to maintain a healthy pace despite last year’s collapse in oil prices, explained the latest Economic Upd


New Finance selects SRB to oversee operations

New Finance, a Kazakhstan-based Islamic microfinance company, said it has selected Bahrain-based Sharia Review Bureau (SRB) to transform, certify and oversee a number of its sharia-compliant product and operations. As a sharia advisory services provider, SRB will supervise Islami


Council strengthens role in Islamic financial services

A new strategy will see Bahrain-based General Council for Islamic Banks and Financial Institutions (CIBAFI) strengthen its role as an advocate for the Islamic financial services industry with international standard-setting organisations and regulatory and supervisory authorities.


Bahrain’s budget stalemate may end soon

Bahrain’s budget stalemate could be about to end after a new-look version was given the green light by parliament’s financial and economic affairs committee. That is despite the revised version increasing the projected budget deficit by a total of BD28 million ($73.6

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