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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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US not against foreign banks dealing with IranThe United States is not opposed to foreign banks doing business with Iran in line with the terms of last year's historic nuclear deal between Tehran and world powers, US Secretary of State John Kerry said on Friday. "The More… |
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Foreign banks charge back into GCC as local lenders squeezedForeign banks are regaining lost ground in the Gulf's financial sector, stealing a march on local lenders as they grapple with job cuts and a liquidity squeeze caused by the plunging oil price. Japanese, French and US banks ar More… |
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Kuwait to let banks trade forex derivativesKuwait's dinar rose sharply against the US dollar in the forwards market on Monday in response to news that the Kuwaiti central bank would allow local banks to deal in derivatives with foreign banks. Al Rai newspaper in Kuwait More… |
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Iraqi banking ripe but reluctant for bidsForeign banks are hunting for stakes in private Iraqi banks as the sector appears ripe for investment and consolidation but local banks are reluctant to take partners, fearing a loss of control, banking officials say. Iraq's financial sec More… |
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Libya paves way for more foreign bank investorsLibya has set regulations for its commercial banks to seek "strategic partnerships" with foreign banks, capping at 49 per cent the stakes foreign investors can own. The measures are part of the Libyan central bank's strategy of reforming t More… |
