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

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.

ADIB participates in its first green finance deal in KSA with $61 million green financing provision

A group of banks provided green finance worth $480mln for three independent sewage treatment plants in Saudi Arabia

NBE, Banque Misr issue 18% saving certificate

Banque Misr will offer the fixed-return rate Talaat Harb certificate

HSBC partners with INJAZ Egypt to expand in 4 countries

The program helps young people aged between 12 and 16 to raise their financial awareness and boost their self-confidence.

NBK-Bahrain reports net profits of BHD 117.68mln (KD 94.57mln) for 2021

NBK-Bahrain’s profits reflect the success of our strategy for expansion and diversification of income sources

Dukhan Bank posts QR1.19bn net profit in 2021

Dukhan Bank’s strong asset liability management capabilities enabled it to improve its financing to deposits ratio to under 98% from above 100% at end- 2020 reflecting the improvement in the Bank’s overall liquidity position.

Kuwaiti banks record highest budget ever in 2021

Kuwaiti banks’ financial statements for 2021 confirm the resilience and ability of the sector to overcome crises and continue to serve the national economy without interruption, said Mohammed Al-Hashel, governor of the central bank.

Commercial Bank of Dubai the first bank to host its AGM at Expo 2020

CBD was the first bank to host its AGM at Expo 2020 reflecting the Bank’s commitment to support the United Arab Emirates

Qatar Central Bank raises Repo Rate by 1.25%

QCB also decided to maintain the QCB deposit rate at its current level of 1 percent and maintain the QCB lending rate (QCBLR) at its current level by 2.50 percent.

SunTec urges UAE and GCC banks to shift towards ‘lifestyle banking’

The company shared its vision during the EFMA World Retail Banking Summit