Thursday 28 July 2016
 
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DCCC expands collateral basket to include major currencies

The Dubai Commodities Clearing Corporation (DCCC), the central counter-party (CCP) for the Dubai Gold and Commodities Exchange (DGCX), said that clearing members will now be able to deposit cash collateral to the corporation in the form of eur

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Egypt lifts FX transaction caps for individuals

Egypt's central bank removed caps on Tuesday on how much individuals can withdraw or deposit in foreign currencies at banks, a move aimed at boosting liquidity in a market that has been starved of dollars. Egypt, which relies

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Low deposit growth to impact Saudi banks

The slowdown in deposit growth to 1 per cent in 2015 from 12 per cent in 2014 and the sharp decline in oil prices as wells as a 14 per cent reduction in the 2016 Saudi government budget are credit negative for Saudi banks, Moody's has said.

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Saudi faces deposit insurance challenge

Saudi Arabia's government faces a challenge in creating a system to insure bank deposits without shaking the confidence of depositors, an international banking watchdog warned.   The government's Supreme

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Cheap oil to push UAE into first fiscal deficit since 2009

The UAE is set to post its first fiscal deficit since 2009 because of lower oil revenues, but it can avoid any serious economic slowdown, the International Monetary Fund said after annual consultations with UAE authorities. The UA

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Customer deposits surge at Oman Islamic banks

Oman's two full-fledged Islamic banks have yet to post a profit but their customer deposits are surging, increasing pressure on authorities to develop sharia-compliant money market tools and make a long-awaited issue of Islamic bonds (sukuk)

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Egypt central bank imposes cap on dollar deposits

The Egyptian central bank has struck another blow against the country's unofficial currency market, with a cap on the amount of dollars that can be deposited in banks, private bankers and a central bank source said. The cap on

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Egypt to repay $2.5bn Qatari deposit by month-end

Egypt will repay a $2.5 billion deposit to Qatar at the end of November, bringing to $6 billion the deposits it has returned to the Gulf country since last year's ouster of Islamist President Mohamed Mursi, a central bank source said on Thur

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DFSA freezes deposits in local Espirito Santo bank

The Dubai Financial Services Authority (DFSA) said it was freezing deposits and imposing other restrictions on private banker ES Bankers Dubai, part of the Portuguese Espirito Santo family's troubled empire. The move is the la

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Qatar to set up deposit insurance

Qatar regulators will establish a deposit insurance framework that will include a sharia-compliant scheme, one of several reforms aimed at modernising the financial sector of the world's top exporter of liquefied natural gas.

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