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banking |
Central bank governors to attend FinTech Forum in Bahrain
February 18, 2019
Manama, Feb. 17 (BNA): A large number of Central Bank Governors from the MENA region will attend the third annual FinTech Forum. The forum will be held in Manama under the patronage of the Central Bank of Bahrain (CBB) on February 21, the Middle East and Africa FinTech Forum has announced. Rasheed Al Maraj, CBB Governor, will inaugurate the FinTech Forum to be attended by senior officials from the central banks of Saudi Arabia, Kuwait, the UAE, Bahrain, Oman, Jordan, Egypt, Libya and Tunisia. The forum is hosted by Bank ABC and Arab Financial Services, brings together internationally renowned thought leaders, practitioners and innovators from the FinTech and artificial intelligence (AI) arenas. They will discuss a wide range of issues including the future of banking, the potential impact of AI and how it will transform the future, open banking, crowdsourcing and financial inclusion.......
RBS gives UK Treasury reason to bet on soft Brexit
February 18, 2019
Royal Bank of Scotland has given long-suffering investors a taste of what normality looks like. The government-controlled UK lender delivered a 47 per cent rise in net profit due to fewer one-off charges. Greater savings could see the bank hit its 12 per cent return on tangible equity (ROTE) target by 2020, implying a share price rise of around one half. That gives the UK Treasury a reason to defer planned sales. After years of waiting and tens of billions of pounds in losses, RBS announced its first annual cash dividend"...
No VAT charges on bank interest or dividends
February 13, 2019
Passively earned interest from bank deposits or dividend income cannot have VAT applied, the UAE Federal Tax Authority said on Tuesday. The government body said the income was “outside the scope of VAT”, as it issued a public clarification on bank interest and dividends in a bid to educate taxpayers on all technical issues concerning taxes. Khalid Al Bustani,"...
RakBank expects income not lower provisions to boost 2019 earnings
February 10, 2019
The National Bank of Ras Al Khaimah expects to post higher earnings rather than just lower provisions in 2019 compared with last year and aims to issue a bond of about $500 million, its chief executive said. Rakbank, which reported a 13.2 per cent net profit increase for 2018 thanks to an 8.5 per cent drop in provisions, expects to boost its income as it continues to diversify its loan book composition, Peter England told The National. Fourth-quarter"...
Japan's SoftBank quarterly earnings up 24%
February 6, 2019
Japan's SoftBank booked a 24 per cent rise in quarterly profit on Tuesday as users switched to data-heavy plans, pinning future growth on the rise of 5G services in the mobile carrier's first earnings report as a public company. With concerns over a changing mobile market keeping its shares below their blockbuster IPO price, investors are looking for reassurance that the company can keep its promise of paying 85 per cent of annual profit"...
Kony Helps CFG Bank Deliver Digital-First Banking
February 6, 2019
(AETOS Wire)-- Kony, Inc., a leading provider of digital banking solutions, and CFG Bank, an innovator in retail commercial banking in Morocco, today announced their collaboration on CFG Bank’s digital banking application. With customers expecting a simple yet robust digital banking experience, CFG Bank has selected Kony to partner on its long-term digital transformation strategy built on the pillars of simplicity, transparency and sustainable customer relationships. Central to that strategy is CFG Bank’s dynamic app built on Kony’s digital banking platform, Kony DBX, which provides a more modern digital banking experience. “In order to succeed in our banking environment, it’s essential to be unique. It’s not enough to provide the same services or similar features as other banks. Rather, we must craft a customer experience that is tailored, simple and that......
Deutsche Bank swings to full-year profit after tepid Q4
February 3, 2019
FRANKFURT — Deutsche Bank returned to profit in 2018, its first in four years, despite a greater-than-expected loss in the fourth quarter, the German lender said on Friday. Deutsche Bank has been trying to turn itself around under a new leadership, but has faced continuous hurdles, including allegations of money laundering, ratings downgrades and failed stress tests. The"...
Banking cooperation agreement signed between Syria and Iran
January 30, 2019
Damascus, SANA – Syria and Iran signed the banking cooperation agreement between Syria’s Central Bank and Iran’s Central Bank with the aim of boosting cooperation and coordination between the two institutes. The agreement aims at serving stabilization of the banking sector and enhancing it and facilitating trade exchange and encouraging investment as well as boosting economic relations in light of the current circumstances. "...
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