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BANKING

CBK okays local banks’ request over credit concentration ratio exemption

September 16, 2019

CBK okays local banks’ request over credit concentration ratio exemption

KUWAIT CITY, Sept 15: Some local banks have obtained approvals from the Central Bank of Kuwait (CBK) on requests for exemption from credit concentration ratios towards Kuwait Petroleum Corporation and its subsidiaries by more than KD 500 million, reports Al-Rai daily quoting reliable.

According to the regulatory instructions, the"... Continue Reading

Boards of Kuwait Finance House and Ahli United Bank agree terms of possible merger

September 16, 2019

Boards of Kuwait Finance House and Ahli United Bank agree terms of possible merger

The boards of Kuwait Finance House and Ahli United Bank agreed on a share swap ratio, a crucial step in the former's bid to take over its smaller Bahraini counterpart and create a combined Islamic banking entity with $96.7 billion (Dh354.7bn) in assets.

The Bahraini entity said its board approved a final exchange ratio between"... Continue Reading

Jefferies to Hold Global Relief Day in Support of Hurricane Relief in the Bahamas Today, September 16

September 16, 2019

Jefferies to Hold Global Relief Day in Support of Hurricane Relief in the Bahamas Today, September 16

Jefferies announced that today is the firm’s global trading day for Hurricane Dorian relief efforts in the Bahamas. Jefferies will offer investors around the world the opportunity to join efforts to assist those affected by the devastation of this event by trading with Jefferies.

As previously announced, Jefferies will donate"... Continue Reading

NBK receives 3 awards from Global Finance at GFM Awards in Dubai

September 12, 2019

NBK receives 3 awards from Global Finance at GFM Awards in Dubai

KUWAIT: National Bank of Kuwait (NBK) was awarded “Best Consumer Digital Bank”, the “Best in Mobile Banking” in Kuwait and the Most Innovative Digital Bank in Real Time End-To-End Payment Tracking on Customer Payment worldwide by” Global Finance Magazine for 2019.
In an award ceremony held in Dubai, NBK received its awards and was recognized in the presence of NBK top"... Continue Reading

Fintech Innovator Treezor Chooses Gemalto Cloud HSM to Help Secure Banking-as-a-service

September 12, 2019

Fintech Innovator Treezor Chooses Gemalto Cloud HSM to Help Secure Banking-as-a-service

Thales today announced that Treezor, the leading banking-as-a-service platform in France, has deployed Gemalto SafeNet Data Protection on Demand solution to provide security across its entire payment chain, from tier one banks and neo-banks to crowdfunding organizations.

As an electronic money issuer, Treezor is bound by a variety"... Continue Reading

Banks to offer higher interest on KD deposits

September 11, 2019

Banks to offer higher interest on KD deposits

Following reports that some banks were paying higher interest on dollar deposits than on deposits in local currency, the Central Bank of Kuwait (CBK) called for a brainstorming session among treasury officials of local banks.

At the session, which discussed issues related to cash management for now and the immediate future, the"... Continue Reading

Central Bank orders compliance with UN resolutions to combat finance of terrorism

September 10, 2019

Central Bank orders compliance with UN resolutions to combat finance of terrorism

KUWAIT CITY, Sept 9: The Central Bank of Kuwait (CBK) has issued instructions to all banks, financial institutions and exchange companies to immediately comply with and implement the resolutions issued by the United Nations Security Council Sanctions Committee on combating and financing terrorism under Chapter VII of the UN Charter, reports Al-Rai daily quoting highly reliable sources.

The"... Continue Reading

GCC banking sector’s total assets grow on higher interest income

September 9, 2019

GCC banking sector’s total assets grow on higher interest income

KUWAIT: The GCC banking sector recorded one of the biggest growth in total assets during Q2-19 that reached $2.23 trillion. Sequential growth in assets during Q2-19 stood at 2.0 percent while the y-o-y growth was 6.4 percent, one of the highest over the pasts few quarters. The growth came primarily on the back of conventional banks that grew assets at 2.3 percent q-o-q while Islamic banks increased their"... Continue Reading

Al Mazaya Holding company settles debts to GCC bank

September 7, 2019

Al Mazaya Holding company settles debts to GCC bank

Kuwait-based Al Mazaya Holding said one of its units First Dubai Real Estate Development Company has completely settled its due debts worth Dh189.5 million ($52 million) with a leading GCC bank in addition to the related financing charges and other due fees.

This settlement was funded by Al Mazaya Holding through the current account between the two parties, said the company in its filing to"... Continue Reading

CR2 and Network International Announce Partnership to Deliver Mobile Banking as a Managed Hosted Service in MEA

September 3, 2019

CR2 and Network International Announce Partnership to Deliver Mobile Banking as a Managed Hosted Service in MEA

Banking software leader CR2, has signed a strategic partnership with Network International, the leading enabler of digital commerce across Africa and the Middle East. CR2 and Network International will deliver mobile banking as a Managed Hosted Service, enabling banks to rapidly deploy and cost-effectively manage their mobile banking services.

CR2"... Continue Reading

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