FAB and Bahrain Clear sign depository agent agreement
First Abu Dhabi Bank, FAB, recently signed a 'Depository Agent Custodian' agreement with Bahrain Clear to offer custody services at…
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Forensic auditor to review every transaction at Lebanon’s central bank
A forensic auditor is set to review every transaction at Lebanon’s central bank, according to Minister of the Economy Raoul…
UAE banks report exposure to commodities broker in liquidation
UAE banks have started reporting their exposure to the Dubai subsidiary of Phoenix Commodities, which recently filed for liquidation. …
African banks confident on growth of cashless payments
Six in ten banking executives in Africa and Middle East think cash will dip below 5 per cent of retail…
Al Salam Bank-Bahrain introduces WhatsApp banking
Al Salam Bank-Bahrain, the pioneering Sharia-compliant bank in the kingdom, introduced WhatsApp banking services to empower customers to conduct online…
Abu Dhabi Islamic Bank first-quarter profit plunges 55%
Abu Dhabi Islamic Bank on Sunday (May 10) reported first-quarter Group net profit of 269.69 million dirhams ($73.44 million) compared…
UAE’s ADCB posts 82% drop in Q1 net profit
Abu Dhabi Commercial Bank reported a Q1 net profit of Dhs209m, down nearly 82 per cent from Dhs1.152bn in the…
Saudi Tabadul opens e-platform for bank guarantee service
Saudi Company for Exchanging Digital Information (Tabadul), a subsidiary of the Public Investment Fund (PIF) has launched a first-of-its-kind digital…
Bank ABC fuels global growth in trade finance with Fusion Trade Innovation from Finastra
With Bahrain-based Bank ABC aiming to consolidate disjointed workflows and support the growth of its wholesale banking activities, it deployed…
Fitch Places Gulf International Bank B.S.C.'s Viability Rating on Rating Watch Negative
Fitch Ratings has placed Gulf International Bank B.S.C.'s (GIB) Viability Rating (VR) on Rating Watch Negative (RWN). All other ratings…
QFB reports 7% increase in income to QR34.2m in Q1
Qatar First Bank (QFB) has reported a profit of QR12.3m for the first quarter of this year (Q1, 2020) attributable…
Turkey push for cheap credit pays off as banks turn on taps
Turkey’s push for cheap credit to mitigate the fallout from the coronavirus is bearing fruit, as companies and consumers take…