Lebanese banks set rate of pounds per dollar for withdrawals from dollar accounts-sources
Lebanese banks have set an exchange rate of 3,000 pounds per dollar for withdrawals from U.S. dollar accounts for this…
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Combating coronavirus: Dubai warns of $10mln loan scheme fraud
The UAE residents and financial services community have been warned against a scam offering $10 million loan to support young…
Saudi Aramco hybrid engine to cut car pollutants
A new hybrid electric-petrol engine reducing harmful greenhouse gasses by 50 percent could be developed from a study by scientists…
Al Salam Bank-Bahrain successfully exits USD 182.5 million US Multifamily Portfolio
Al Salam Bank-Bahrain has announced the successful sale of a portfolio of 7 multifamily assets in the US for a…
Egypt seeks aid from IMF amid virus downturn
Egypt is seeking an aid package from the International Monetary Fund to offset the economic impact of the coronavirus pandemic,…
HSBC to block donations to Palestinian aid charity Interpal
British bank HSBC has told customers in the UK that it will stop processing standing order payments to the Palestinian…
Review of the Week: Too much oil
Oil prices went negative for the first time ever last week, yet stock markets took it in their stride. …
Saudi-based APICORP hires Citi, Goldman, StanChart for dollar bonds -sources
The Arab Petroleum Investments Corporation (APICORP), a Saudi-headquartered multilateral development bank, has hired banks to arrange investor meetings ahead of…
Northern Trust names EMEA CTO
Northern Trust has named Alison Pain as chief technology officer (CTO) for the Europe, Middle East, Africa region. From…
StanChart Bad Loan Momentum Continues
Standard Chartered could face up to $600 million in bad loans after major borrowers faced a series of reported predicaments.…
KFH says no new updates regarding Bahrain’s Ahli United acquisition
Kuwait Finance House (KFH) said that there were no new developments regarding its acquisition of Bahrain’s Ahli United Bank after…
Saudi banks need to accelerate digital transformation: KPMG
Banks in Saudi Arabia have to revisit their digital transformation plans and strive to launch new channels that will sustain…