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Finance & Banking | Global Arab Network

Standard & Poor’s Shariah Indices Pare Losses During First Quarter Of 2009

Global Arab Network - - Mark Newton

Wednesday, 22 April 2009 01:09
Standard & Poor’s global benchmark index of Shariah-compliant companies lost further ground over the first quarter of 2009, declining more than 6% as ongoing financial market disruptions, the liquidity crunch and slowing world economies continued to hamper market performance. Read more... Add new comment

Fitch Affirms Jordan Islamic Bank for Finance and Investment at 'BB-'

Global Arab Network - - Adam Turner

Tuesday, 21 April 2009 23:39
Fitch Ratings has today affirmed Jordan Islamic Bank for Finance and Investment's (JIB) ratings at Long-term Issuer Default (IDR) 'BB-' (BB minus) with Stable Outlook, Short-term IDR 'B', Individual 'C/D' and Support '3'. The Support Rating Floor was affirmed at 'BB-' (BB minus). Read more... Add new comment

Fitch Downgrades Gulf General Investment Company to 'BB'

Global Arab Network - - Adam Turner

Saturday, 18 April 2009 02:40
Fitch Ratings has today downgraded Dubai-based Gulf General Investment Company's (GGICO) Long-term Issuer Default Rating (IDR) and senior unsecured rating to 'BB' from 'BB+', respectively. All ratings remain on Rating Watch Negative (RWN). Read more... Add new comment

Syria: Inauguration of the Bank Training Centre

Global Arab Network - - Adam Turner

Saturday, 18 April 2009 01:56
The BTC is Syria's first public training institute for the financial sector. Its establishment and the development and delivery of its training programmes have been supported by the European Union (EU)-funded projects “Banking Sector Support Programme II" and "Support to the Bank Training Centre”. [ … ] Read more... Add new comment

S&P Assesses The Risks To MENA Countries' External Balances From Falling Remittances

Global Arab Network - - Mark Newton

Sunday, 12 April 2009 22:59
In 2008, total gross remittance inflows for Egypt, Lebanon, Jordan, Tunisia, and Morocco combined topped $27 billion, three times the level received at the turn of the millennium. In a new report titled "Middle East And North African Countries May Feel The Pinch Of Falling Remittances In Global Down [ … ] Read more... Add new comment

Big jump in profit for Banque Albaraka D’Algerie BY 106%

Global Arab Network - - Maha Karim

Sunday, 12 April 2009 20:54
Banque Albaraka D’Algerie, a subsidiary banking unit of Albaraka Banking Group B.S.C. (ABG), announced that it succeeded in achieving a big jump in its net profits and operating assets during 2008. Net profits increased by 106%, net operating income by 70%, assets Read more... Add new comment

S&P:Increasing Supply Chases Reducing Demand In The Jordanian Insurance Market

Global Arab Network - - Adam Turner

Saturday, 11 April 2009 23:57
Today, the insurance sector in the Hashemite Kingdom of Jordan comprises 28 companies, which together write an estimated Jordanian dinar (JOD) 331.6 million of gross premiums, a 13.7% increase on the previous year. Assuming some slowdown in growth during 2009, Read more... Add new comment

Moody's upgrades four Lebanese banks following sovereign upgrade

Global Arab Network - - Maha Karim

Friday, 03 April 2009 13:15
Moody's Investors Service today upgraded to B2 from B3 the constrained long-term foreign currency deposit ratings of four Lebanese banks -- BLOM Bank, Byblos Bank, Bank Audi and Bank of Beirut. Moody's also upgraded Byblos Bank's constrained foreign Read more... Add new comment

Two Summits in Dubai to face the Impact of the International Financial Crisis

Global Arab Network - - Maha Karim

Monday, 30 March 2009 23:40
Dubai will be hosting two annual Technology Summits on April 7, 2009 the first of which is dedicated to the private sector while the other addresses the governmental issues. The two-day events are sponsored by Obeid Homeid Al Tayer the UAE Minister of State for Read more... Add new comment

GCC Banking Conference to develop positive interaction in the Monetary and banking

Global Arab Network - - Adam Turner

Sunday, 29 March 2009 21:01
Global Banking Corporation B.S.C (GBCORP) one of the key sponsors of the GCC Banking Conference, organized by the Central Bank of Bahrain believes that the event will provide the basis for greater interaction between the monetary and banking sectors of the economies Read more... Add new comment