A new report from the Committee on Payments and Market Infrastructures provides country-by-country data on the decline in correspondent banking between 2011 and 2019, and figures on the increase in the value and number of cross-border payments.
Here are some of the news items we've been following recently: Lebanese banks selling overseas operations, bank M&A in Barhain, Iraq applying for EBRD membership, the Lebanese political situation, and the price of oil.
We will be holding a series of webinars on regulatory matters, and topics related to the Middle East over the next few weeks.
We are sad to note the passing of Costi Chehlaoui, a pioneer of Arab banking, who held senior positions in London, New York and Bahrain. Ghayth Armanazi, a former Secretary General of the ABA, who knew Costi well, has written a short appreciation.
The Arab Bankers Association hopes that our members and their families are safe and healthy during this difficult time. Working with our corporate members we have delivered a series of on-line seminars. The Association is financially strong and is able to withstand the budgetary implications of the current crisis.
S&P Ratings and published two reports analysing the effect of the Covid-19 on banks in the GCC and, more broadly on banks in the Middle East, Turkey and Africa.
We spoke to Michel Accad, who recently retired from Al Ahli Bank of Kuwait, about his 40-year career in Middle East banking, and we also asked him what he plans to do next, and whether he thinks banking still offers exciting career opportunities for young people.
We are pleased to welcome FOCUSYNC as our latest corporate member. The firm provides automated solutions and consulting services that improve data management and processing for banking clients. It is based in South Audley Street, Mayfair.
Kamco Research has published useful summaries of the performance and trading volumes on GCC stock markets during 2019, along with a review of IPO activity. As a whole, GCC stocks rose 5.9% during 2019, but the performance of individual markets differed widely.
We are pleased to welcome the law firm TLT as a new corporate member. Click below to find out more about the firm's activities. The photo, right, shows Marc Gilston who will be leading TLT's relationship with the ABA.
We honoured Isam al-Sager, Group CEO of National Bank of Kuwait, with our Award for Distinguished Service to Arab Banking, at our Gala Dinner in London on 23 October.
We are delighted to welcome Spector Constant & Williams (SCW) as one of our newsest corporate members. SCW is a newly-established London-based law firm whose staff have decades of experience. The photo is of George Constant, who will be the firm's main contact with the ABA
IQ-EQ is a Jersey-based firm that provides administration, complianace asset and advisory services. It has an international footprint that includes long experience in the Middle East. Pete Unwin (pictured) will lead the firm's relationship with the ABA.
Fitch downgraded the Republic of Lebanon to CCC on 23 August, the same day that S&P affirmed its B- rating and negative outlook. The ABA's Editor, Andrew Cunningham, considers the different views on Lebanon's financial health. The views are his own, not necessarily those of the ABA.
Marsh Private Clients, which provides bespoke insurance advice to high net worth individuals and businesses, is now an ABA corporate member.
Our Summer Party was the last in a busy series of series of mid-year events.
ABA corporate member QIB (UK) recorded record profits last year. We spoke to Fuad Shakshir, head of Structured Real Estate to find out more about the bank and its work in the UK real estate market.
This is an important report, and one of its findings is that those who use Islamic finance say that they have a good experience.
Our CEO, George Kanaan and Editor, Andrew Cunningham were in Cairo from 18-21 March to strengthen the Association's links with the Egyptian banking sector. Read more for details on the visit and the topics discussed.
Speakers from Mishcon de Reya, FTI Consulting and Standard Chartered offerred advice on how medium-sized banks should address cyber and financial crime challenges.
The Saudi government is projecting a budget deficit of $35bn in 2019, almost unchanged from the estimated actual outcome for 2018. The ABA's Editor reviews the main points of the budget, and provides some statistics.
Haytham Kamhiyah has been appointed CEO of Europe Arab Bank, the London-based subsidiary of Jordan's Arab Bank.
We held our Christmas party on 13 December. About 90 members and friends attended what was our fourth social event of the year. There are photos on th eGallery Tab of this website.
We held our Gala Dinner on 18 October, honouring Nemeh Sabbagh, the CEO of Arab Bank for his Distinguished Service to Arab banking. Our keynote speaker was H.E. Fuad Siniora the former Prime Minister of Lebanon. More than 250 members and friends attended.
ABA Corporate Member delivers breakfast seminars in London on a variety of business risk subjects. On 13 November, there was a seminar on Stress Testing. The slides are attached.
FTI Consulting has joined the Arab Bankers Association as a Corporate Member. FTI's main contact with the Association will be Federica Taccogna.
VG, the Jersey-based provider of fiduciary and administration solutions, has appointed Claire Malkoun to its Board. The company has also published another edition of its newsletter, 360.
The latest firm to join the ABA as a Corporate Member is Belleveue Mortlakes, the London-based property surveyors who are principally involved in property valuation but also manage receiverships and redemptions. The firm works with a core group of about 50 UK and Middle Eastern banks. Shaf Ali will be the firm's key contact with the ABA.
The Arab Bankers Association sends its condolences to the family of David Sambar, who died recently after a long illness. David had a distinguished career in Middle East banking and was a fixture of the Arab banking community in London.
The Arab Bankers Association is pleased to welcome Philip Ross Solicitors as a new corporate member. George Constant will be the firm’s key contact with the Association.
Here are photos from our seminar, 'Navigating the Regulatory Maze - 2018' which was held on 15 March. The seminar was sponsored by Grant Thornton UK and Fieldfisher. More information on the seminar is posted on our 'Events' tab, including the slide presentation.
Gatehouse Bank has been providing Shari'ah-compliant property finance in London for ten years, and now the bank plans to expand into Shari'ah-compliant retail home financing. Charles Haresnape, the bank's CEO explains the bank's new strategy.
The Saudi budget for 2018 projects a deficit of $52bn in 2018, a little less than in 2017, with expenditure due to rise by 6%. The Arab Bankers Association's Editor in Chief, Andrew Cunningham, analyses the Budget Statement and provides some statistical tables.
More than one hundred ABA members and their friends celebrated at our Christmas party on 13 December. Held at the Malborough Head in London's Mayfair, it was a great way to end the year.
The Arab Bankers Association is working with In Focus Broadcasting to make this groundbreaking new programme for the Arab banking sector to create content and a voice recognising the major themes in the banking the financial services sector in the Arab world and beyond.
There have been several recent new appointments at the top of Arab banks in London: Jordan Islamic Bank, National Bank of Abu Dhabi and Ahli United Bank have new CEOs in London.
The Lebanese Cabinet has renewed Riyad Salamé's term as Governor of the Banque du Liban - the Lebanese Central Bank - for another six years, from 1 August. Salame was first appointed in 1993.
Thirteen years after selling its remaining stake in Saudi American Bank, Citibank is to have a physical presence in Saudi Arabia through an investment banking license, granted by the Capital Market Authority.
Regional banks in the GCC have the opportunity to offer correspondent banking services to smaller local banks in the Middle East, replacing the large international banks who have been withdrawing from the correspondent banking market. James Daniell, a managing director in Alvarez & Marsal's Dubai office, explains how his firm is helping regional...
The Saudi Arabian Monetary Authority will be honoured at the Central Banking Awards Ceremony, to be held in London in March, for its work to strengthen internal risk management and compliance.
The ABA Annual Gala Dinner confirmed its position as the premier social event for London's Arab banking community with a sparkling evening at the Jumeirah Carlton Tower on 27 November. HE Saddek El-Kaber received the ABA award for Distinguished Services to Arab Banking and the Keynote Address was given by Tom Tugendhat, MP.
There was a big turnout for the Association's Annual General Meeting on 26 September. Members approved the annual accounts and received an update on activities, including the launch of the latest Arab Banker magazine. The photo shows Vivien Davies, Company Secretar; Neel Patel, Treasurer; Abdelaziz al-Khereiji, Chairman; and George Kanaan, CEO.
The Board of Samba Financial Group has announced that it will close its branch in London due to concerns over its long term profitability.
The directors of National Bank of Abu Dhabi and First Gulf Bank have approved plans to merge their two banks. The new bank, which will be called National Bank of Abu Dhabi, will be the largest in the Middle East. Find out more about the transaction and the two banks in the accompanying article.
The Arab Bankers Association asked a selection of Middle East banks in London for their views on how the British government could build on the success of its June 2014 sovereign sukuk issue - the first sovereign sukuk issued outside the Muslim world. The banks are keen to see more issues, of bigger size and more variable maturities.
The British Ministry of Justice has announced plans to consider whether to extend the scope of the offence of 'failing to prevent' a crime beyond bribery and tax evasion. ABA Corporate Member Fieldfisher has produced a short briefing note to explain what might happen.
Deputy Crown Prince Mohammed bin Salman announced the Vision 2030 on 25 April. Read more to see how the Vision is structured and for details of some of its key points. We also have a link to the full English text.
The ABA's first corporate member's lunch of 2016 addressed the issue of senior bank managers' personal liability, under the new UK regulations that come into effect in March 2016.
Figures published by The Banker magazine show that banks in Egypt and Morocco account for about a quarter of the combined Tier 1 capital and assets of Africa banks; and forty two of the largest 100 banks in Africa are based in North Africa. The ABA's Editor has prepared a handy table to summarise the relative size of Africa banking systems.
CEO's of member banks will be invited to attend a meeting with officials from the Prudential Regulation Authority at the ABA's offices on Wednesday 22 January 2020. The meeting will start at 2.30pm. The PRA team will comprise: Tanveer Hussain, Head of Overseas Banks Division Trevor Jones, Senior Manager, Overseas Banks Division Sarah...