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Arab banks' ties to foreign banks under pressureMore than a third of Arab banks have seen their business links with foreign banks shrink over the past four years because of pressures such as economic sanctions and concern about money laundering, according to a study published on Monday. More… |
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Arab banks expanding in ME as global rivals retreatBig Arab banks with money to spend are expanding across the Middle East in markets such as Egypt and Iraq, as they take advantage of a retreat from some areas by major international rivals, senior Arab bankers say. Since 2011, som More… |
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Arab banks' profit to hit $38bn by 2012-endArab banks are expected to post net profits of $38 billion by end of 2012 financial year, a three per cent increase from last year, said Union of Arab Banks chairman Adnan Yousif. "The results are good given the crucial situa More… |
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Arab banks insulated from new crisis: Moody'sBanks in the Arab world are comparatively well insulated from the effects of the recent global financial disruption and ensuing recession, says Moody's Investors Service in a new comment. However, Moody's notes that the region's banks con More… |
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Arab banks set to boost IT investment to $1.8bnArab banking sector will invest $1.8 billion in information technology in 2008, which is 15 per cent more than it spent on IT in 2007, a report said. Arab banks boast one of the highest rates of growth in technology investment in the world More… |
