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.