Managers of Wealth Middle East -Wealth, private banking and asset management news and opinion

Bank deal creates second-largest lender in Qatar

The deal between Masraf Al Rayan and Al Khalij Commercial Bank is valued at 8.2 billion riyals ($2.2bn), according to Bloomberg data.

Mashreq may move jobs to India, Egypt or Pakistan to save costs

Relocation plan expected to be completed in three phases by October this year

Central Bank of Egypt directs for accelerating financial transfers

Intra bank transfers to be carried out in 2 hours, while interbank transfers in 3 hours

Emirates NBD confirms $750mln senior bond issuance

The bond will mature in January 2026

SAIB Bank offers 20% cashback to credit card holders

The new campaign enables all credit card holders to receive 20% cashback when using the cards in purchases during the month of January

Jordan’s banking sector assets reach $79.5 billion in Q3 2020

The capital adequacy ratio was 17.9 per cent during the first-half of 2020, which is higher than the rates required by the Central Bank of Jordan.

FAB signs testing and trialling agreement with CLS for CLSNet

The addition of FAB demonstrates the appeal of CLSNet to FX market participants trading in emerging market currencies.

NBK Announces the Winners of NBK Mobile

Participants in the campaign expressed their great pleasure with the advanced digital services

Oman Arab Bank launches service for tourism through its digital channels

This will reflect positively on the sustainability of their businesses, especially in light of the current circumstances and the tremendous challenges facing the sector.

Qatar commercial banks witness strong loan extension to private sector

The commercial banks’ credit to the services sector saw an 18.51% yearly expansion to QR328.59bn, which constituted 31% of the total domestic loans this November.

Why Saudi banks are better positioned in 2021 compared to GCC peers

Non performing loans and margin pressures to persist

Emirates NBD named ‘Bank of the Year – UAE 2020’ and ‘Bank of the Year – Middle East 2020’

As a leading bank serving millions of customers across the MENAT region, Emirates NBD has undertaken a comprehensive and proactive plan to protect the financial security and economic well-being of its people, customers and the community.

Saudi Arabia awards first licence to offer consumer micro-loans in less than 5 mins

Saudi Central Bank gives licence to Zain's Tamam to provide micro-financing services

Ooredoo announces online payments now enabled with Al Khalij Bank

With the new payment services being online, it is another step forward on our journey towards complete digitalisation.

Emirates NBD recognised as Best Retail Bank in the UAE

In addition, the division won the Excellence in Mass Affluent Banking award for its market leading Priority Banking proposition that delivered best in class investment and financial planning solutions.

Emirates NBD recognised as Best Retail Bank in UAE by Retail Banker International

These recognitions reinforce our standing as a frontrunner in the region’s banking sector as we continue to strengthen our proposition with many first-to-market innovations.

Turkey: Banking sector net profit at $7.4B in Jan-Nov

Total assets of Turkish banking sector reach $786.9B as of end of last month, according to banking watchdog

Burgan Bank's working hours during New Year's Holiday

Airport Branch will resume normal working hours during the holidays from 8 am till 7 pm

Bahrain central bank asks banks to extend loan repayments for six months more

Bahrain central bank said banks should keep the instalment amount unchanged and not increase profit or interest rates on such loans

Fitch affirms Commercial Bank rating at ‘A’ with stable outlook

Commercial Bank’s strong commercial banking franchise is underpinned by established public and private corporate relationships.

Retail Banking