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Financial Services news in the Middle East | Page 2

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

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
Commercial Bank of Dubai taps PwC for adoption of AI technologies The Commercial Bank of Dubai has selected PwC as its partner for the adoption of AI technologies across the organisation.
28 August 2023
Alvarez & Marsal delivers damning report on Lebanon's central bank A preliminary forensic report of Banque du Liban has painted a damning picture of Lebanon’s central bank, exposing a range of illegal and concerning practices that contributed to the nation’s dire fi
14 August 2023
Two major UAE banks select IBM Consulting for digital mandate IBM Consulting has been awarded two new mandates in the UAE’s banking landscape, with both Dubai Islamic Bank and First Abu Dhabi Bank selecting the firm as the lead delivery partner for a digital tr
14 July 2023
Strategy& leader Jorge Camarate on the financial services sector Jorge Camarate is a partner with Strategy& and the leader of the firm’s Financial Services practice in the Middle East.
14 July 2023
IBM and Mannai InfoTech deliver QNB digital banking upgrade IBM’s consulting and tech teams have delivered new architecture for Qatar National Bank’s digital banking platform, which the bank says has resulted in productivity gains and a seamless user experien
26 June 2023
Saudi Arabia’s banking sector set for further gains Following a boom last year, Saudi Arabia’s banking sector is set for further gains in the coming years, according to a forecast by Boston Consulting Group.
23 May 2023
The NextGen Banking Technology Summit is coming to Bahrain As part of its international tour, the NextGen Banking Technology Summit is coming to Bahrain, with dozens of leaders set to convene in Manama later this month to discuss the latest trends and develo
12 May 2023
Deloitte leaders reflect on Financial Crime Symposium in Dubai Senior leaders from the world of financial crime recently attended a symposium by Deloitte, gaining insight into the latest regulatory developments and emerging trends in the scene.
17 April 2023
IPO advisors guide Al Ansari through successful stock listing in Dubai Dubai’s first initial public offering of 2023 has enjoyed a sunny start to its life as a listed company, with the shares of Al Ansari Financial Services Group surging upwards since its trading debut
07 April 2023
UAE’s banking sector books strong performance and is robust in 2023 The UAE banking sector looks back at a strong 2022, with net profits up more than 25% on the year previous.
28 March 2023
‘FinTech the backbone of the Islamic banking growth story’ With Islamic banking and finance in high growth mode, the role of specialist Islamic FinTech players has become more critical than ever, writes Nitin Kanaujiya, an Engagement Manager at Cedar Managem
01 March 2023
Saudi Arabia's top sectors for CX: Retail and Financial Services What sectors offer the best customer experience in Saudi Arabia? In its take on the multifaceted question, KPMG surveyed over 1,500 consumers from across the Kingdom to find out, concluding that reta
06 February 2023
FinTech solutions for regulatory compliance – beware of the risks In order to remain compliant to an ever-growing regulatory landscape, a growing number of financial institutions in the Middle East are turning fintech solutions.
18 January 2023

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