DIFC’s Post

Amid the din of news on regional markets, is a reminder that DIFC continues to scale as a #global platform, playing a critical role in the Internationalization of the Chinese economy. We are proud to be the #financialcenter of choice for #China as evidenced by the record inflow of their leading #financial and #nonfinancial firms #DIFC #FutureOfFinance #China #UAE #BankingAndFinance #Insurance #BeltandRoad Bank of Communications Co.,Ltd. Agricultural Bank of China Bank of China CMB International Industrial and Commercial Bank of China SINOSURE Li Auto NIO MENA State Grid Corporation of China ZTE Corporation

DIFC consolidates its position as the UAE's top destination for Chinese financial institutions and MNCs, reflecting the Centre's emergence as a strategic regional gateway. Included among some of the biggest names in the Centre's Chinese banking and financial services industry are more than 30 per cent of the country's Global Fortune 500 companies. 🇦🇪🇨🇳

Dubai International Financial Centre (DIFC) said on 10 December it had “strengthened its position as a strategic gateway to the region” for Chinese financial institutions and multinational firms. Chinese firms are using DIFC to access markets across the MEASA region, as well as Belt and Road Initiative (BRI) member countries which have strong connectivity through Dubai, the DIFC said.

The #Islamicfinance sector is poised for sustained growth into 2024, buoyed by robust economic activity in core markets and high oil prices. This sector’s resilience is further supported by ambitious development agendas in the Gulf Cooperation Council (GCC) and Southeast Asia, alongside a burgeoning demand for Shariah-compliant financial instruments https://lnkd.in/eczsRxVq

National Bank of Uzbekistan (NBU) raises $411mn through bond issuance on London Stock Exchange. The bond issuance comprised two tranches: a $300mn tranche with a maturity period of 5 years, and another tranche of UZS 1.4 trillion ($111mn) with a maturity period of 3 years. By issuing sovereign international bonds denominated in U.S. dollars and Uzbek soums, NBU showcases its readiness to engage with global investors across multiple currencies. To ensure the success of this venture, NBU enlisted the support of leading global institutions as underwriters, including J.P. Morgan, Citi, Deutsche Bank, Natixis Corporate & Investment Banking, Societe Generale, Standard Chartered, First Abu Dhabi Bank (FAB), and Mashreq. #uzbekistan #nbu #bond #lse #investments #dcm

LAST WEEK IN 3 MINS- #1- The opening was with our on-stage interview with Investment and Foreign Trade Minister Hassan El Khatib, In a remarkably candid discussion, El Khatib touched on everything from how he aims to make it easier to do business to his thoughts on privatization, how he will choose priority industries, and the role of the state in the economy. #2- What international investors want to see from Egypt moving forward: We brought together a panel of international advisors and investors who are committing capital to Egypt or advising those who are looking to do business. We spoke to Amr El Bahey, CEO of Mashreq Egypt, Essam Al Tamimi, founder and chairman of Al Tamimi & Company, Leila Serhan, senior vice president and group country manager for NALP at Visa, and Sherif El Kholy, partner and head of Middle East and Africa at Actis, asking them about the broad view of Egypt from the outside. PRIVATIZATION WATCH- #1- United Bank to make its EGX debut early next year: The Central Bank of Egypt will offer a stake of United Bank on the bourse, with the initial public offering set to take place before the end of 1Q 2025. The CBE did not disclose how much stake it will be offering but media reports put the stake size somewhere between 30% to 45%. The central bank is still looking for a strategic investor to acquire a majority stake in the lender, a senior banking source told Enterprise earlier this week, adding that offering a portion of the bank on the EGX will make it more appealing to potential investors. #2- The government is looking to sell an additional 10% of its stake in Telecom Egypt before the end of this year, a government source told Enterprise earlier this week. The Madbouly government has also resumed negotiations for the sale of the state’s remaining 20% stake in Alexbank to Italy's Intesa Sanpaolo Group, which currently holds the remaining 80% of the lender, the source added. If the longstanding negotiations fall through once again, then the government will sell its stake to another strategic investor, the source said. DEBT- Egypt signals it's ready to issue Eurobonds — and other issuances — for the first time since 2021: Finance Minister Ahmed Kouchouk told foreign investors in London last week that Egypt was set to issue USD 3 bn in Eurobonds and other debt instruments in the current fiscal year coming to a close at the end of June, Bloomberg reported earlier this week, citing sources it says are familiar with the matter. The government is not planning to issue international bonds on global stock exchanges before February, a government source, commenting on the Bloomberg story. MANUFACTURING- Construction of Kemedi Chemical Company’s new USD 30 mn chemical manufacturing facility kicked off in the TEDA industrial zone in Ain Sokhna this week. The factory is expected to become the largest producer of calcium hypochlorite in Egypt and Africa, with the facility targeting an annual production of over 40k tons annually.

On the heels of market events like the ongoing #Ukraine conflict, economic volatility has kept trade finance access under pressure, with liquidity shortfalls felt at the global level for corporates and financiers, and on the ground for SMEs and local and regional banks. As a consequence, regions like CEE have seen an uptick in appetite for open account receivables and supply chain finance, as vanilla products like letters of credit become more costly. With banks, multilaterals and export credit agencies looking to mobilise credit in the local market, and help address deficits in trade finance facilitation, this industry-focused session at #GTRCEE on October 8 will consider the following: 🔍 What are the emerging priorities for plugging trade finance gaps and developing lender and credit capacity for large corporates and SMEs? How does the CEE market differ in its trade financing needs? 🔄 How might the family of open account financing options continue to evolve and meet working capital needs, and to what extent can they facilitate fresh trade links for firms operating in the CEE region? 🛠️ Examining the rise of buyer-led supplier finance programmes, challenges with onboarding and how such programmes derisk engagement with smaller local suppliers 🚀 Primary barriers to local and regional liquidity like escalating lender risk and the retreat of corresponding banking, and how multilateral, DFI and ECA trade facilitation programmes might continue to increase bank appetite 📈 How is the trade finance product offering evolving in line with the above trends and to what extent are banks and other providers looking to tailor products in line with future market needs? Speakers: James Sexton (Stenn International) Olena Gryniuk (SME Banking Club) Anzhela Barseghyan (ARMSWISSBANK CJSC) Matti Malminen (Konecranes) Gennadiy Khelemskyy (D.TRADING) Don’t miss this opportunity to gain insights from industry experts and network with peers in the CEE trade finance community. 👉 Register to attend: https://lnkd.in/eSTKSvZr 📅 Add to calendar: https://lnkd.in/esaz6Hc2 🤝 Join the online event community: https://lnkd.in/emmCWy4z #TradeFinance #SMEFinance #SupplyChainFinance #EconomicVolatility #Banking #OpenAccount #Networking #GTRCEE

As Greece successfully concludes its pivotal role in the restructuring of its banking sector, we are marking a significant milestone in the European banking landscape. The Hellenic Financial Stability Fund has played an essential part in this journey, ensuring that the transition back to private ownership is both smooth and aligned with our mission to safeguard financial stability.   Our recent divestment activities are part of a broader European trend as governments draw the bailout era to a close, with Greece leading by example. Through this process, HFSF has not only fulfilled its mandate but also demonstrated how strong regulatory frameworks and strategic foresight can facilitate economic recovery and build investor confidence.   I had the opportunity to discuss these developments and the broader implications for the European banking sector with Bloomberg and Mr. Sotiris Nikas, where we explored the evolving role of banks and the potential for consolidation across Europe. As the state pulls back from its protective role, I am confident that the strong foundations we have helped build will continue to foster growth and stability in the years to come.   You can read the full article: #HFSF #Leadership #FinancialStability #BankingSector #Growth

BPAM IN THE NEWS! 📰 🗞️ Diversification to spur bond market - The Star Online "Bond Pricing Agency Malaysia Chief Executive Officer Meor Amri Meor Ayob told StarBiz allowing MDBs and foreign DFIs to issue ringgit-denominated bonds introduces high-quality issuers into the domestic bond market. This will improve liquidity and broaden the investor base of the ringgit bond market, he noted. “For international investors, the inclusion of MDB and foreign DFI bonds offers a new class of high-grade securities, potentially reducing reliance on government bonds or local corporate issuances. This diversification could enhance....." 🔗 To read the rest of the article, click the link below🔗 https://lnkd.in/gjWtZWYQ #connectwithbpam #bonds #sukuk #malaysiancapitalmarket #malaysia

EU Banks and fund managers urge the EU for a reduced repayment timeline 🏦 European banks and fund managers are calling on the EU to make a formal commitment to shortening settlement times for stock and bond trades, urging Brussels to keep pace with the financial modernisation efforts of the US and UK. A task force, led by the AFME (Association for Financial Markets in Europe) and consisting of 18 market lobby groups, has recommended setting a clear timeline for reforms. The task force, which includes organisations such as the European Banking Federation and fund management groups like ICI, AIMA - The Alternative Investment Management Association, and EFAMA, emphasised the importance of aligning these reforms with the UK's approach to ensure a harmonised financial landscape across Europe. Do you agree that the EU should consider accelerating the settlement times for stock and bond trades to better align with global financial modernisation trends?  Read the full article here:  https://lnkd.in/egF8j99V #European #Banking #EFAMA #AFME #AIMA