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The British multinational investment bank and financial services HSBC has reportedly rolled out virtual debit cards for UAE (United Arab Emirates) companies in a recent development that is considered to be a first in the Middle East banking sector. This banking sector development reinforces its commitment to pioneering digital enhancements to meet the raising demand […]
The German multinational investment bank and financial services company Deutsche bank , Sways to its small annual profit in the year 2020 since 2014, after the gains from its Investment banking division. The largest lender of Germany posted a full-year net profit of 113 million euros which is equivalent to $135.7 million, the analysts had […]
Bank Nizwa, One among Oman’s leading Islamic bank has profitably achieved its set targets of its maiden 5 year plan (2016-2020) and is now set on a new growth path. Since launching its operations in January 2013, the bank now provides a full range of banking solutions to individuals, small and medium size enterprises, corporations […]
CBUAE (Central Bank of the United Arab Emirates) has announced to initiate the procedure for regulatory responsibility of the insurance sector pursuant to Decretal Federal Law No. (25) of 2020 where the merger of Insurance Authority was decided. The Deputy Prime Minister, Minister of Presidential Affairs and Chairman of the CBUAE, Sheikh Mansour Bin Zayed […]
Hong Kong stock exchange filings recently showed that Morgan Stanley, JPMorgan and Goldman Sachs units will delist a total of five hundred Hong Kong listed structured products. The products are linked to Telecom companies China Telecom, China Mobile and China Unicom and local index including the benchmark Hang Seng Index, the three investment banks said […]
The leading Digital currency Bitcoin saw its surge beginning this year with its price passing $30,000 for the first time with more investors and traders betting that it is on its way to become a mainstream payment method. The price of the Cryptocurrency traded as high as $31824 early Saturday, with almost all markets, it […]
After positive trial data from Pfizer and BioNTech on Vaccine, US banks are in line for windfall that widened the gap between long and short-term bond yields. Apart from big pharma, US banks are also reaping a windfall due to the news on the COVID-19 vaccine. Pfizer and BioNtech’s promise on releasing vaccine has not […]
The founder and CEO of MENA region’s first and largest open banking platform is confident about the revolution that the technology will create in the industry. A mobile banking application that has license can become financial advisor to customers in open banking. Open banking refers to sharing of financial information electronically and securely, with the […]
OpenPayd, which is an application programming interface (API)- led banking-as-a-service(BaaS) provider, launched InstantFX, which will help clients gain easy access to foreign exchange payments. Firstly, OpenPayd is a Technology business established in 2015, that provides a wide range of banking and payment services.that provides a wide range of banking and payment services. InstantFX gives a […]
Oman Banks Association (OBA) has advised lending institutions in Sultanate to welcome few technological innovations in global banking and financial services landscape. The Association’s CEO, Ali Hassan Moosa, warns Oman banks for neglecting new developments that have the potential to revolutionise the global industry. The innovations include open banking, fintech, robotic process automation, Artificial intelligence, […]
The U.S. Department of the Treasury turned up pressure on Iran by sanctioning 18 major banks in order to isolate it from the global banking system and thwart attempts to build nuclear weapons. The Office of Foreign Assets Control (OFAC) today 16 Iranian banks for operating in Iran’s financial sector and one bank for being […]
Indonesia and Japan have listed a number of banks as cross currency dealers in an attempt to encourage Rupiah and Yen transactions for bilateral trade and direct investment. The countries signed a Memorandum of Understanding (MoU) on the Local Currency Settlement framework in Tokyo. “Bank Indonesia (BI) and the Ministry of Finance of Japan (JMOF) […]
