Dubai bank’s Turkish bet just got $1 billion cheaper. And riskier
On the face of it, Emirates NBD PJSC’s acquisition of Turkey’s Denizbank AS has become about $1 billion cheaper. …
Regulation, Risk & Compliance
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Cryptocurrency is Illegal in Saudi Arabia, Central Bank Says
The oil-rich Kingdom of Saudi Arabia has warned the public against making investments in cryptocurrency, according to a statement of…
Turkey sees long-term partner in China
Turkey’s President Recep Tayyip Erdoğan, his nation’s currency in free fall, on Friday criticized “unilateral actions against Turkey by the…
Temenos and AUC Venture Lab team up to accelerate fintech innovation in Egypt
The Venture lab at The American University in Cairo and Temenos have announced their intention to collaborate and strengthen the…
National Bank of Egypt upgrades UK treasury and risk management operations with Finastra
Finastra today announced that National Bank of Egypt (UK) Limited is deploying Fusion Treasury and Fusion Risk. The treasury…
Trading in Bitcoin illegal in Saudi Arabia
Saudi Arabia has issued a statement saying that Bitcoin and other cryptocurrencies are illegal in the kingdom, in light of…
UAE's RERA, Dubai Commercial Bank sign agreement
The Real Estate Regulatory Agency, RERA, at Dubai Land Department, signed a partnership agreement with Commercial Bank of Dubai, CBD,…
Common Shariah norms for Islamic finance still remain a tricky issue
Shariah governance and regulations in Islamic finance remain a diverse topic despite countless initiatives to set a common international framework…
Downgraded Bahrain banks to find funding expensive
Rating agency Moody’s Investors Service has downgraded four Bahraini banks in line with its recent downgrade of the Government of…
GIB continues to strengthen KSA presence
GIB is now in its final stages of completing the necessary steps to convert its branches into a locally incorporated…
Middle East Demand for World Bank Financing Rises to $6.3BN in 2018
The World Bank responded to strong demand from countries in the Middle East and North Africa (MENA) region for development…
Saudi Aramco, Malaysia's Petronas tap banks for jumbo financing – sources
Saudi Aramco and Malaysia's Petronas have approached banks to replace a short-term $8 billion loan raised earlier this year for…