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

QIIB becomes first Islamic bank in Qatar to launch card for domestic work

The cardholder can also use it to pay for utility bills, make online purchases and transfer money to their home country with the greatest of ease.

Reg BI and Beyond: Your September Update

In the UAE 73 per cent expressed their readiness for online shopping.

Open Banking set to transform finance in the GCC

Gulf Business talks to Wissam Khoury, Head of International at Finastra, on the state of Open Banking in the GCC

UAE national banks’ total assets reached Dhs2.8 trillion in July

The share of national banks of the total assets of the sector stood at around 87.5 per cent.

Why GCC banks and fintech startups must realign their interests for greater good

Traditional lenders and fintech players can grow simultaneously, offering customers a myriad of services

Korean Banks Feared to Lose Money as UAE Firm Goes Bust

The company plans to repay its debts and rebuild its business within three years, It has formed an investigation team to look into the scandal.

Customers lead the digital banking transformation

How banks must create the products their customers need to stay relevant

Network Int'l renews shared services agreement with Emirates NBD

Emirates NBD continues to be a shareholder in Network International following the payment company's landmark $1.4 billion listing on the London Stock Exchange in April 2019

Banks cannot charge fees on loan deferral says Central Bank of Bahrain

This comes a day after banks had agreed to waive loan instalments from September until the end of the current year

BAB confirms banks' readiness to defer loan installments

It should be noted that the period of repayment of the loan or financing would increase relatively to maintain the amount of the installment unchanged, as the banks will inform their customers.

Middle East SWF’s in talks to buy stake in Reliance Retail

RRVL seeks to offload up to a 15 per cent stake to private equity players and strategic investors to raise Rs. 800 billion, while reserving the largest allocation of 40 per cent for Amazon.

Commercial Bank launches $500mn bond at new price benchmark

Investors have positively viewed the strong execution of Commercial Bank’s five-year strategy which has significantly improved the performance of the bank.

QNB first in Qatar to debut ‘green bond’ offering under its Medium Term Note Programme

QNB Group received subscriptions in excess of $1.8bn, demonstrating the global investor’s confidence in its solid financial fundamentals and strong financial performance.

Qatari banks' first-half profit 'strong' despite higher provisioning: Moody's

The combined net profit for these banks declined by 9% to QR10.5bn compared to the same period last year.

Qatar cultivates first green bonds as QNB raises $600 mln

National Bank of Abu Dhabi, now First Abu Dhabi Bank FAB.AD, sold the first green bonds in the region in 2017 and last week, Saudi Electricity Company (SEC) sold $1.3 billion in dual-tranche green sukuk, or Islamic bonds.

SABB wins ‘Saudi Arabia’s Best Bank 2020’ award

Also this month, SABB’s Waafer savings account was voted “Product of the Year.”

First Abu Dhabi Bank partners Aldar for card-based payment to property tenants

This follows a deal struck with Aldar's real estate management arm Provis

Commercial Bank wins ‘Best Retail Bank in Qatar’ award for fourth consecutive year

The Asian Banker also awarded Commercial Bank the Best Digital Deposit Product of the year. The bank was selected amongst many competitors from Asia, Africa and the Middle East with their Mobile App service, “My Goals.”

Jordan's Capital Bank begins due diligence to buy Lebanon's Audi's units in Jordan, Iraq

Capital Bank, a major Jordanian corporate bank with $3.5 billion in assets by end of June, would be able to diversify into retail banking through acquiring Audi’s Jordan operations with its 15 local branches.

Qatar- Commercial Bank receives two awards from International Finance Magazine

Commercial Bank's Mobile Banking Application has long been recognised by different awarding bodies.

Retail Banking