Financial Services news in the Middle East

An overview of news, trends and research in the Financial Services industry in the Middle East:

Middle East asset management sector grows 13% to $2.3 trillion The global asset management industry’s assets rose to nearly $120 trillion in 2023, with the Middle East’s asset management sector among the fastest growing in the landscape.
02 September 2024
How digital banking is driving the UAE's sustainability agenda As the UAE aims to mobilize over AED 1 trillion in sustainable financing by 2030, Abbas Basrai – partner and head of Financial Services at KPMG Lower Gulf – outlines how the evolution of digital bank
22 August 2024
The road ahead for banks in the GCC region: 7 priorities GCC banks are currently in strong shape, and have over outperformed their global counterparts over the past several years.
05 August 2024
McKinsey: GCC banks outperform their global counterparts Over the past years, GCC banks have outperformed their global counterparts and looking ahead, the region’s banking sector is in a good position to continue its growth, according to analysis by McKins
17 July 2024
Saudi banking customers keen om mobile banking excellence As Saudi Arabia continues to make strides in diversifying its economy, the country’s banking sector is being reshaped.
04 July 2024
Saudi’s fintech scene books ‘remarkable progress’ with more to come Saudi Arabia’s fintech sector has grown rapidly over the past years, and is poised for further growth, with the segment at the forefront of innovation and the government maintaining major impetus for
02 July 2024
Banks as architects of GCC's digital economy and financial future Open banking and digital payments are among the main technologies that drive digital financial services, write Mukund Bhatnagar, Ather Marwat and Pedro Marques from management consulting firm Kearney
07 June 2024
AFCM partners with Sustainable Square on driving ESG progress The Arab Federation of Capital Markets (AFCM) has signed a memorandum of understanding with Sustainable Square, with the aim of collaborating on initiatives that advance the adoption of ESG and susta
31 May 2024
UAE banking sector taking more initiative in sustainability The UAE banking sector will play a crucial role in facilitating the country’s shift towards a more sustainable economy.
13 May 2024
UAE Central Bank selects Accenture for supervisory technology program The Central Bank of the UAE has launched a major digital transformation program aimed at enhancing the way how it supervises financial institutions, selecting Accenture as its consulting partner.
25 April 2024
Banks in UAE and Qatar have the highest reputation in GCC Banks in the UAE and Qatar lead the GCC playing field in terms of reputation.
25 March 2024
Deloitte symposium explores key developments in financial crime At the Financial Crime Symposium in Dubai, leaders and professionals from across the financial crime scene came together to discuss the latest trends and developments in the landscape.
19 March 2024
First Abu Dhabi Bank inks long-term partnership with Mastercard First Abu Dhabi Bank, the largest bank in the UAE, has agreed an exclusive long-term global partnership with Mastercard focused on collaboration in four markets: the UAE, Saudi Arabia, Oman, and Egyp
07 March 2024
Major UAE banks improve financials after year of high returns The financial position of major banks in the UAE improved last year, with the outlook for 2024 also favourable, according to the annual Banking Pulse report from Alvarez & Marsal.
26 February 2024
Solidarity acquisition named Islamic Finance deal of the year in Bahrain Solidarity’s acquisition of Al-Hilal Life and Al-Hilal Takaful from Ahli United Bank has been named the best financial transaction of the year in Bahrain.
18 February 2024
Hisham Farouk 'Financial services at heart of climate change impact' The UAE chief executive of global professional services firm Grant Thornton, Hisham Farouk, outlines why the financial services sector plays a pivotal role in climate change conversations and impact
15 February 2024
The benefits of real-world assets tokenization The concept of tokenizing tangible assets, also known as real-world assets tokenization, is rapidly gaining ground around the world.
05 February 2024
Tokenization set to transform real estate and financial services With hype growing and more use cases becoming clear, the total value of tokenized assets could grow to reach $10 trillion by 2030.
25 January 2024
Consumers in Saudi Arabia are happier with their banks Customer sentiment for leading banks in Saudi Arabia has improved in the past year, according to a new study from PwC, which analyzed customer attitudes towards seven leading KSA banks.
16 January 2024
How banks can set themselves up for a profitable future Alberto Alvarez, Senior Partner with McKinsey & Company based in the Middle East, outlines five strategies that could help the region’s banks maintain a competitive edge and build a profitable future
13 January 2024
SAMA and CMA select Deloitte for Fintech Saudi’s Makken program Saudi Arabia’s central bank (SAMA) and Capital Market Authority (CMA) have launched a new financial technology program called Makken to support and develop the fintech sector in the Kingdom.
27 December 2023
Commercial Bank of Dubai hires Accenture for tech-CX transformation The Commercial Bank of Dubai has selected Accenture as its consulting partner for a strategic technology transformation program.
15 December 2023
Iran and Saudi Arabia the world's largest Islamic finance markets The Gulf Cooperation Council nations play a significant role in Islamic financing.
01 December 2023
ICBC attack yet another wake-up call for MENA financial institutions On November 10, the world’s largest lender by assets, the Industrial and Commercial Bank of China (ICBC), announced that it had fallen victim to a cyber attack.
29 November 2023
Three quarters of top 20 banks in MENA have ESG strategies Banks in the Middle East and North Africa (MENA) are increasingly embracing ESG as a key mantra of doing business – but at the same time, they are struggling to put words into action.
13 November 2023
Al Fardan Exchange selects Crowe as training partner in UAE Al Fardan Exchange has named Crowe its training partner for business and financial skills in the UAE market.
13 November 2023
How Middle East financial services is embracing digital Over the past years, the Middle East’s financial services industry has been getting on with digitalisation – embracing the opportunity to adopt tech-enabled operating models and digital products of a
06 November 2023
An introduction to SAMA's minimum verification controls As Saudi Arabia’s financial services sector embraces digital innovation, the need to safeguard sensitive information and digital services from cyber risk has become paramount.
06 November 2023
KPMG commits to supporting young Bahrainis in financial services KPMG is stepping up its contributions to developing future leaders within Bahrain’s financial services sector.
25 September 2023
The state of procurement in the UAE banking sector In its ‘Banking Procurement Study’, experts from Grant Thornton’s management consulting business outline the state of procurement practices within large UAE-based banks, shedding light on best practices
12 September 2023
GCC onshore asset management base to cross $500 billion by 2026 Around 70% of regional wealth in the Gulf Cooperation Council (GCC) countries is currently held in offshore accounts, though that may soon change.
06 September 2023
Emirates NBD looks to leverage the power of generative AI Emirates NBD, a leading bank in the MENA region, has announced a roadmap to adopt generative artificial intelligence (AI) tools.
04 September 2023

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