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

Emirates Development Bank announces $520m contribution to the UAE's GDP

The lender provided direct and indirect financing to 1,350 SMEs in priority sectors

QCB role decisive in Qatar banks' stability, strength and ratings: Al-Shaibei

The figures and indicators speak for themselves noticed in the results disclosed by the banks, the high credit ratings they enjoy from various international rating agencies, he said.

Saudi banks continued to post strong credit growth in February, says SAMA report

On a year-on-year basis, total assets grew 9.7 percent, rising by SR291 billion, Saudi Central Bank data revealed.

Egypt’s banks increase focus on consumer opportunity

Egypt’s supportive regulation, together with the impact of Covid, saw cashless payments in the country grow by more than 230% last year. Now fintechs, banks and state-owned platforms all want a piece of the action.

NBB highlights achievements at investors meeting in Bahrain

The meeting discussed the group’s financial results as well as ESG accomplishments, showcasing the bank’s performance and initiatives undertaken throughout the same time period

Crédit Agricole Egypt inaugurates new branch in Palm Strip Mall

CAE selected the new branch’s location after conducting a geo-market study to identify geographical gaps

Emirates NBD partners with the world’s leading innovation platform Plug and Play

Emirates NBD to get global access to Plug and Play’s global start-up ecosystem

NBO shareholders approve capital raising plan and dividend payout

The bank’s EGM saw the approval of capital raising plans which may take the form of a new issue of additional tier 1 capital for a benchmark size in the region of up to US$300mn.

Al Baraka Banking Group holds its AGM and EGM

The meeting was held in the presence of the Group Chief Executive Officer, Mr. Mazin Manna, as well as the Board of Directors and Executive Management, with the participation of shareholders, representatives of the Shari’a Supervisory Board (SSB), t

Banque du Caire unveils official joining of UNEP FI

This move aims at encouraging sustainable banking practices

EDB named Official Banking Partner of AIM 2022

An initiative of the UAE Ministry of Economy, AIM 2022, which will see the participation of some of the world’s leading investment specialists

Egypt state banks sell $16.6 bln in 18% CDs, absorbing post-devaluation liquidity

The central bank began reducing the size of the open market operations in recent weeks

First Abu Dhabi Bank to buy Egypt’s EFG Hermes

First Abu Dhabi Bank expanded into Egypt last year through the purchase of bank Audi’s local unit, as part of its strategy to expand overseas.

Social Development Bank allocates $2.9bn to support Saudi entrepreneurs

The bank also signed several agreements with strategic partners to provide training to Saudi entrepreneurs.

BankDhofar raises a SOFR linked dual tranche syndicated term facility

The syndication was oversubscribed on the back of very strong participation from regional banks and banks from Asia

QNB Al Ahli launches instant payment service

Qatar National Bank Alahli (QNB Al Ahli) (QNBA) has launched instant payment service in collaboration with Egyptian Banks Company

Mashreq Bank launches Neopay to consolidate and grow

NEOPAY will also provide Issuer Processing and Acquiring Processing services to financial institutions and fintechs.

Lebanon political stalemate, accounting rules distort Bank of Sharjah financials

UAE operations remain profitable, resolution to Lebanon woes likely in medium term

QIB announces promotion winners

To attend the opening match of the FIFA World Cup Qatar 2022™ in partnership with Visa

Visa for Arabia: We are working with the Saudi central bank to develop the electronic payments sector

“We are working with the Saudi central bank and electronic payments to increase the size of the sector,” Belon added.

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