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HuaweiRAKBank has launched its first branch in the emirate of Fujairah, complementing its existing branch network in the country’s East Coast region, which includes Khorfakkan and a newly-refurbished branch in Kalba.
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Gulf Finance House (GFH), the Bahrain based Islamic investment bank, recently announced that Capital Intelligence (CI) has recently concluded a rating exercise on the Bank and has accorded GFH a long-term and short-term corporate rating of BB and B respectively with a positive outlook.
Mashreq has introduced a new payment acceptance facility in the form of Mashreq Payport, the region’s first fully EMV Chip and PIN compliant mobile POS solution.
Dubai Islamic Bank (DIB), the world’s first fully fledged Islamic bank, has announced that it will be the first Islamic bank in Central Europe, the Middle East & Africa (CEMEA) to issue all of its priority and premier customers with Visa Signature Debit Cards, providing them with access to a host of Visa’s exceptional benefits and features as well as strengthening its position as one of the most innovative banks worldwide.
Global Finance, ranked NBAD for the fifth consecutive year in its World’s 50 Safest Banks. NBAD remains the highest ranked Middle East bank in the list.
The Turkish lira hit a record low on Tuesday, but the central bank warned that it had a war chest of up to $40 billion to defend the currency amid turmoil for emerging economies.
HSBC Bank Middle East is giving its customers the opportunity to connect to China with the launch of a series of renminbi deposit accounts. China’s currency, also known as the yuan, is poised to join the US dollar and the euro as one of the world’s top three trading currencies as China will settle 30 per cent of its annual trade in renminbi, equivalent to $2 trillion.
Emirates NBD, a leading bank in the region, has announced that Tony Jashanmal, a member of the Jashanmal Group board of directors, a renowned retail conglomerate across the Middle East, will give the keynote address at the next networking session of the Emirates NBD Global Business Series.
Global financial stability is at risk as central banks draw back from ultra-easy policies that have flooded the world with cash, because emerging markets lack defences to prevent potentially huge capital outflows, top officials were warned on Saturday.
China Construction Bank Corporation (CCB), the nation’s second-largest lender, posted the smallest profit increase in five quarters, weighed down by rising bad-loan charges as the economy slowed.