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

UAE banking system can withstand adverse scenarios: Central Bank

The CBUAE projects real GDP growth to further increase to 5.4% in 2022, supported by higher economic activity and higher oil prices

Ahli United Bank Egypt offers 8% cashback on 3-years Premium CD

The purchase of AUBE’s CDs and account opening services are available at its branch network of 40 branches nationwide

Building a strategic procurement function in retail banking

Retail banks can potentially face an array of challenges to their procurement function that may be hindering their ability to cut costs and increase their reach in the market.

Gulf International Bank achieves 121% in net profit for the first half of 2022

The second quarter provisions witnessed a release of $0.9 million, compared to a provision charge of $12.1 million in the second quarter of 2021

Oman’s Sohar bank eyes merger with HSBC

The board will keep the market updated as the matter progresses, it added.

SABB “Best bank for sustainable finance in the Kingdom” for 2022

SABB was chosen for this award based on a set of international standards in a variety of categories, including sustainable financing, community support, emerging market growth, and infrastructure

First Abu Dhabi Bank selects IBM Consulting as digital partner

Already partnering with IBM for years on multiple technology fronts, First Abu Dhabi Bank has now appointed ‘Big Blue’s (one of IBM’s nicknames) consulting division as a consultancy partner for its digital transformation journey.

EDB approves $653m in finance during H1; up 418%

The Board meeting was held for the first time in the Bank’s new headquarters in Abu Dhabi located in Mubadala Tower

Sohar International empowers wholesale banking clients

By introducing unified transaction banking digital services

Turkey’s banks are adopting Russian payments system: Erdogan

While Turkey voiced its opposition to Russia’s invasion of Ukraine, it has refrained from joining US and European sanctions on Russia.

QIB Group CEO wins Asian Banker ‘CEO Leadership Achievement for Qatar Award’ for 2nd consecutive time

The bank introduced a series of new digital products and services for all its customers’ segment with many of them introduced for the first time in Qatar.

'KHCB' reports BD 6.81mln net profit attributable to the bank’s shareholders in the first half of 2022

With an increase of 13.37% compared to the same period last year

NBB launches new ‘Double Points’ campaign

Cardholders will also have the chance to enter a raffle draw to win a Jeep Wrangler as part of their points’ redemption, it said.

IsDBI initiates 1st Arabic language online course on edX Platform

The course which is open to all interested professionals and Islamic financial specialists from 15th August 2022

OAB launches new scheme offering guaranteed returns of up to 5.75% per annum

With the OAB Savings Basket, customers can deposit a specified amount as a fixed deposit for a maximum period of three years, which will be subject to a guaranteed interest rate.

Mashreq moves beyond banking with the launch of Mashreq Business Banking Value Added Services

Mashreq is the first bank in the Middle East region to launch a specific platform for businesses to access non-banking services

Qatar First Bank holds its Extraordinary General Meeting

In attendance were members of QFB’s board of directors (the “Board”), shareholders, and the Bank’s senior management team

IELTS now live at NBK headquarters

Reflecting NBK’s commitment towards the education and career development of the youth

UAE national banks provided $190bn credit facilities to business sector

The share of foreign banks stood at 10.9 percent or 85.8 billion dirhams.

Al Rajhi Bank’s shares close lower even as profit surges to $2.2bn in H1

Al Rajhi Bank’s impairment charges for financing went down slightly from SR1.161 billion to SR1.159 billion.

Retail Banking