Banking

ABU DHABI / EMIRATES BUSINESS Habib Bank Limited ( HBL ) UAE has opened its new Abu Dhabi Main Branch at the Landmark Tower on Corniche Road in Abu Dhabi. The branch was inaugurated by H.E. Sheikh Nahyan Bin Mubarak Al Nahyan, Minister of Culture and Knowledge Development, Mr. Sultan Ali Allana, Chairman of HBL , Mr. Mubashar Maqbool, Country Manager – ...

ABU DHABI / EMIRATES BUSINESS Abu Dhabi Islamic Bank (ADIB) has reported a net profit of AED 1,934 million for 2015, a 10.5 percent increase from a year earlier. The number of customers increased by over 100,000. This reflects the continued growth of ADIB’s main banking activities across all customer segments, particularly its ongoing penetration and targeting of the UAE’s ...

FUJAIRAH / WAM National Bank of Fujairah (NBF) announced the donation of AED150, 000 to The Angel Appeal, a charitable initiative supporting seafarers anchored off the coast of Fujairah. This is the fourth consecutive year that the bank has reiterated its commitment to the relief programme, further underscoring its ongoing support of the local community. The Angel Appeal is an ...

OMAN / Emirates Business National Bank of Oman (NBO)launched a new initiative, ‘Women@NBO’, to empower women in the workplace and develop a strong pipeline of potential female leaders within the Bank. NBO will invite approximately 50 talented female employees with the potential to take up leadership roles within the Bank, from various branches and divisions, to attend the inaugural ‘Women@NBO’ ...

Dubai / Emirates Business Al Etihad Credit Bureau (AECB) , the UAE’s credit reporting company, launched the Application-to-Application (A2A) advanced feature in January, granting lenders direct access to the Bureau’s database to extract that data they need and use it as direct input into their own decision-making systems. UAE’s Leading financial institution, Mashreq has become the first Bank to enable ...

Jakarta / WAM Electronic money (e-money) transactions conducted in the country in 2015 reached Rp5.2 trillion in value, up from Rp4.3 trillion in 2014, Governor of Bank Indonesia(BI) AgusMartowardojo said. “In 2009, electronic money transactions were valued at about Rp520 billion only, and now they have reached Rp5.2 trillion,” the central bank governor said while opening the National Non-Cash Movement ...

New York / AFP Iran remains essentially off limits to US banks, despite the lifting of some US sanctions following the landmark Iranian nuclear deal. The Obama administration in mid-January eased several restrictions on doing business with Iran, including former “secondary” sanctions that had threatened to penalize companies outside the US for their business with Iran, as well as some ...

Bloomberg Trading volumes in the credit-default swaps market — where banks and fund managers go to hedge against losses on corporate and government debt — have surged. Transactions tied to individual entities doubled in the four weeks ended Feb. 5 to a daily average of $12 billion, according to a JPMorgan Chase & Co. analysis of trade repository data. The ...

Dubai / Emirates Business Emirates NBD , has been awarded the Human Resource Development Award in the banking and financial sector by EIBFS (Emirates Institute of Banking and Financial Studies) in recognition of its commitment to Emiratisation. The award was presented by H.H. Dr. Sheikh Sultan bin Mohammed Al Qasimi to Husam Al Sayed General Manager HR, Emirates NBD. This ...

Nanama / Emirates Business A new report by KPMG has revealed that Bahrain enjoys some of the region’s lowest operating costs for financial services institutions. The report covered the average costs of a range of factors including commercial rental rates, occupancy cost, manpower cost, communication and utility expenses, in addition to the average cost of living. Financial sub-sectors that require ...