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BANKING

Saudi Arabia raises 8.8bn riyals through sukuk issuance
September 18, 2019

Saudi Arabia raised 8.834 billion Saudi riyals (Dh8.66bn) through a local currency-denominated Islamic bond issue as it continues to borrow from the domestic market as part of its wider debt management strategy to shore up finances and diversify its funding base.

The funds raised through September issuance under the government’s riyal-denominated Sukuk Program, were divided into three"...

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Saudi central bank on standby in aftermath of drone attacks
September 18, 2019

Saudi Arabia’s central bank on Tuesday said it’s prepared to inject liquidity in the financial system if needed to help the economy cope with the aftermath of this week’s major attacks on Aramco’s oil facilities.

With its stockpile of net foreign assets at over $500 billion, “it gives the monetary authority the ability to intervene in the markets at any time,”"...

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Jefferies' Clients, Employees and Shareholders Contribute $4,400,000 for Hurricane Dorian Relief Efforts in the Bahamas
September 17, 2019

Jefferies announced today a total donation of $4.4 million to 16 organizations providing needed assistance to victims of Hurricane Dorian in the Bahamas. The firm's clients helped to generate $3.075 million in donations through global trading commissions on September 16th. Jefferies also contributed $1 million directly, and voluntary donations from the firm's 3,656 employees totaled another $325,000.

We"...

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Jefferies to Hold Global Relief Day in Support of Hurricane Relief in the Bahamas Today, September 16
September 16, 2019

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 all net trading commissions earned today from U.S., European"...

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Saudi Arabia's banking regulator sees mortgage market doubling in next few years
September 12, 2019

Saudi Arabia’s banking regulator expects the kingdom’s relatively small mortgage market to double in size within the next five years as the government pushes to increase home-ownership among its citizens.

The most recent data indicate a growth of 168 per cent in mortgage loans provided by commercial banks in the kingdom. Housing loan deals finalised by finance companies also"...

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Fintech Innovator Treezor Chooses Gemalto Cloud HSM to Help Secure Banking-as-a-service
September 12, 2019

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 of data privacy regulations and requirements, including"...

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CR2 and Network International Announce Partnership to Deliver Mobile Banking as a Managed Hosted Service in MEA
September 3, 2019

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 is considered to be the leader in channel"...

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BAI Announces 2019 Global Innovation Award Finalists
August 20, 2019

BAI announced the finalists for the 2019 BAI Global Innovation Awards, the industry’s most prestigious awards program that celebrates transformative solutions in the financial services industry worldwide.

Now in its ninth year, the BAI Global Innovation Awards recognizes leading financial services organizations on a global scale. Through hundreds of applications, the Innovation"...

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Saxo Bank completes purchase of BinckBank
August 18, 2019

DUBAI — Saxo Bank and BinckBank announced that Saxo Bank has completed the acquisition of BinckBank. The acquisition of BinckBank marks an important milestone for the Saxo Bank Group that now services approximately 860,000 clients and holds approximately €46 billion in client assets. By gaining scale and reducing cost and complexity, the Group can continue its ambitious investments in the digital client experience and expand its product offering, delivering"...

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