Globally, an estimated 2.5 billion people don't have a bank account, but many own a cellphone, fuelling a race to turn these phones into bank books for the 'unbanked' to store cash, manage their accounts, make purchases and send and
The Saudi British Bank (SABB) has been named as the ‘Best Trade Finance Bank’ in Saudi Arabia for this year by the Global Finance magazine.
The recognition from the magazine comes after an assessment of transaction vol
Egypt's central bank kept its benchmark interest rates unchanged on Thursday (February 26) as it balances the needs to manage high inflation with encouraging economic growth, the bank said in a statement.
The bank's moneta
ABC Islamic Bank has posted a net profit of $15.1 million last year, a 23 per cent increase as compared to $12.2 million recorded in 2013.
The net profit for the fourth quarter was $3.6 million, 19 per cent higher than the same pe
Commercial bank lending in Bahrain is expected to pick up after a slump, and the plunge of oil prices is not hurting liquidity in the banking system, Central Bank of Bahrain Governor Rasheed Al Maraj said yesterday (February 24).
Alubaf Arab International Bank has reported 11.1 per cent increase in net profit at $40.7 million for last year when compared with $36.6 million for 2013.
The bank said it had seen another year of "sequentially successful and
Omani Islamic lender Bank Nizwa hopes to complete a merger with United Finance Co this year as it aims for faster growth in the country's crowded banking sector, the bank's chief executive told Reuters.
The potential deal
Dubai-based financial services firm Arqaam Capital has invited banks to pitch for roles in arranging its flotation on the emirate's bourse, three banking sources aware of the matter told Reuters.
Arqaam has offices in five cou
Structural reforms need to be implemented by Lebanese authorities to stimulate the economy and reduce the fiscal deficit, and not bank on the decline in oil prices alone, according to a recent report.
Bank Audi’s Lebanon Eco
Jordan Ahli Bank boosted net profit by 113 per cent to 34 million dinars ($48 million) last year due to capital gains from divesting its Lebanese subsidiary to a Lebanese bank, bank officials said.
Net operating income, including