Thursday 2 July 2015

AFS achieves certification for credit, debit platforms

Bahrain-based Arab Financial Services (AFS), a provider of electronic payments and consumer finance outsourcing services, has achieved the Payment Card Industry (PCI) Security Standards Council Certification 3.0 for its credit and debit platforms, the company said in a statement yesterday (June


Investcorp gets new finance head

Investcorp, a Bahrain-based alternative investment firm, has hired Tony Robinson as its chief financial officer effective from July 1. Robinson re-joins the company from Bahrain's sovereign fund Mumtalakat, replacing Rishi Kapoor who will become co-chief executive on the same


Dubai Holding names new managing director, CEO

Dubai Holding, the investment vehicle of the emirate's ruler, has promoted two members of management to the roles of managing director and chief executive, the company said. CEO Ahmad Bin Byat has been promoted to vice-chairman and managing director, according to a statement


MasterCard names country manager for Bahrain

MasterCard, a leading global payments and technology company, has appointed Khaled Abdulkarim as the country manager for Bahrain. Abdulkarim joins MasterCard with 13 years of experience and an extensive track record in the banking industry in the kingdom, said a statement from th


Accounts institute gets new president

The Chartered Institute of Management Accountants (Cima), the world’s leading professional body of management accountants, has elected Myriam Madden as president for the forthcoming year following the annual general meeting held earlier this month. Madden is an expert in fi


French group buys $150m stake in KHC

Kingdom Holding Company, the Saudi Arabian investment firm chaired by billionaire Prince Alwaleed bin Talal, said a group of French companies led by a state-backed investment fund have agreed to invest $150 million in the company. Aeroports de Paris, insurer AXA and construction


Gulf stocks open lower on militant attacks, Greece

Gulf stock markets fell in early trade on Sunday after militant attacks in Kuwait and Tunisia killed a total of 66 people last week, and because of concern about the Greek debt crisis. The main Dubai stock Index sank 1.8 per cent. Heavyweight Emaar Properties lost 2.5 per cent an


HSBC Oman in deal to sell Pakistan business

HSBC Bank Oman has agreed to sell its banking business in Pakistan to Meezan Bank, a sharia-compliant Pakistani lender, it said on Sunday. The deal, which is subject to regulatory and other approvals, is expected to be completed during the second half of 2015, the bank said in a


Barwa Bank Q1 profit up 4pc to top $57m

Barwa Bank, a leading Shari’ah-compliant service provider in Qatar, has posted a net profit of QR209 million ($57.3 million) for the first quarter of 2015, as against QR 201 million for the same period last year, marking an increase of four per cent. Total assets jumped by


Kingdom Holding, CDC set up $400m fund

Saudi Arabia's Kingdom Holding Company, the investment firm owned by billionaire Prince Alwaleed bin Talal, has joined hands with French group Caisse des Dépôts International Capital (CDCIC) to set up a $400 million fund. The investment vehicle will be be jointly

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