Sunday 29 March 2015
 
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finance

Oman swings to $937m budget deficit

Oman posted a government budget deficit of RO 360.8 million ($937 million) in 2014 compared to a surplus of RO401 million in 2013, provisional finance ministry data showed on Thursday.      Oman's original 2014 b

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Bahraini bank group seeks bankruptcy protection

A group of investment vehicles owned by a Bahraini bank are seeking US bankruptcy protection to shield more than $200 million from Saudi Arabia's Ahmad Hamad Algosaibi and Brothers, agency reports say. Awal Finance Company, a

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Al Baraka bank's units win top Islamic finance awards

Bahrain-based Islamic banking group Al Baraka Banking Group’s (ABG) has announced that four of its units won Islamic Finance News Awards 2014. They were chosen as the best Islamic banks in the region through the annual refer

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Abu Dhabi Islamic Bank wins top awards

Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial services institution, has won 10 awards at the Islamic Finance News Awards Ceremony held in Dubai, UAE recently. The ceremony, which was held at the Ritz-Carlton, Dubai In

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SABB named ‘Best Trade Finance Bank’ in Saudi

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

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New alternative growth role for Islamic finance

Islamic finance can play a central role in creating an alternative, more resilient economic and financial system, Central Bank of Bahrain Governor Rasheed Al Maraj has said. According to him, at its core, Islamic finance was based

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200 top executives take part in Dubai Forward

More than 200 private bankers, independent asset managers, family offices and corporate service providers took part in Dubai Forward, which was organised by the Swiss group Academy and Finance, in partnership with Mashreq Private Banking.

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Islamic investment in Bahrain forum spotlight

The upcoming Global Islamic Investment Gateway (GIIG) in Manama will help consolidate Bahrain's standing as a leading innovator in Islamic finance always open to exploring new ideas, according to Economic Development Board (EDB) chief econom

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Internationalisation strategies for Islamic finance in focus

The General Council for Islamic Banks and Financial Institutions (CIBAFI) and the Islamic Development Bank (IDB), the global umbrella organisation for Islamic financial institutions (IFIs), has launched a roundtable meeting of the directors of o

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Citi and Etihad sign supply chain finance partnership

Citi, a banking and financial services corporation in the Mena region, has signed an agreement with UAE’s national airline Etihad Airways to provide a Supply Chain Finance (SCF) solution to pay select suppliers. The innovative fin

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