Reuters The Islamic Development Bank (IDB) will elect a new president next week during its annual meeting to be held in Jakarta, replacing long-serving President Ahmad Mohamed Ali, the Jeddah-based multilateral lender said. Saudi Arabia, the IDB’s largest shareholder, has nominated former Haj Minister Bandar Hajjar for the post, whose candidacy was endorsed by the outgoing IDB president. The ...

  Reuters The Lebanese economy is expected to grow 2 percent this year and deposits in Lebanese banks are forecast to rise by 4.5 to 5 percent, or around $8 billion, Central Bank Governor Riad Salameh said this week. Salameh, speaking at an economic conference in Beirut, described the economic growth as acceptable, adding that the International Monetary Fund had ...

  Reuters Bahrain’s Bank ABC is set to appoint Christopher Wilmot to head its treasury department, sources aware of the matter said. Wilmot will start at the Bahraini lender next month, according to two of the sources, with one saying his title would be group head of treasury and financial markets. The current group treasurer at Bank ABC, John Eldredge, ...