Qatar Financial Centre (QFC) Authority’s Post

Banking Reimagined: UAE's Premier Digital Bank Allies with the Industry Titan The strategic partnership between Al Maryah Community Bank (Mbank) and First Abu Dhabi Bank (FAB) integrates top-tier digital banking with the UAE's largest cash and cheque deposit network, creating an unmatched open banking ecosystem across the Emirates. This collaboration enables seamless access to cash and cheque deposits for both retail and corporate customers. Potential use cases include: - Cross-bank loyalty program integration for enhanced customer rewards - Collaborative fraud detection leveraging both banks' datasets - Personal finance management tools across both platforms - Integrated SME lending solutions utilizing combined customer financial data The partnership creates an open banking ecosystem that enhances convenience, accessibility, financial inclusion, and innovation, setting a new customer-centric benchmark in UAE banking. #OpenBanking #FAB #Mbank

It is interesting to see that FIRST BANK EGYPT has issued a new ranking of the best Egyptian banks in empowering women in leadership positions, as the Egyptian banking sector has witnessed significant transformations in recent years regarding the representation of women in leadership roles. Some banks have begun to work hard to empower women and provide them with equal opportunities to assume leadership positions that influence the direction of banks and their strategic decisions. ▶️ We also look forward to the 2024 report issued by the Egypt Women on Boards Observatory AUC School of Business, as they introduce a very comprehensive report on the gender information and data of almost 1,000 companies and banks, including 237 EGX-listed companies, 33 banks, 660 NBFS companies, and 73 public enterprise companies (holding and affiliate companies). I am empowered and pleased to see women representing leadership positions and playing an important role in decision-making that drives the economic, financial, and business progress of these institutions. To read more Women on Boards Annual Monitoring Reports, visit: https://lnkd.in/eGWC7YUt . #womenempowerment #Womenonboards #finance #economy #marketing #development

ROSHN Group has established partnerships with four prominent Saudi banks—Arab National Bank, Bank Albilad, Bank AlJazira, and Riyad Bank—to offer a comprehensive range of financial services, as outlined in a ROSHN Group press release. These agreements aim to provide specialized banking services to ROSHN's sub-developers and contractors, emphasizing the group's dedication to bolstering the Kingdom's private sector and achieving operational efficiency in its ventures. The collaboration entails the delivery of tailored banking services to sub-developers and contractors referred by ROSHN, including competitive profit margins, coverage ratios, expedited account opening, credit assessments, and access to credit facilities for eligible clients. ROSHN Group's Chief Financial Officer, Avinash Pangarkar, highlighted, "The agreements with Arab National Bank, Bank Albilad, Bank AlJazira, and Riyad Bank signify our commitment to empowering the private sector through improved financial support, efficient assessments, and streamlined financial services. These strategic partnerships will enable our partners to undertake larger, more ambitious projects contributing to their sustained growth and success, aligning with Vision 2030 goals for economic diversification and increased homeownership targets." #SaudiArabia #SaudiTimes

the IDRs of the National Bank of Egypt, Banque Misr (SAE), Commercial International Bank (CIB), and Banque Du Caire were all upgraded to B/Stable from B-/Positive. Fitch said these rating actions reflect the strong correlation between the banks' creditworthiness and that of the Egyptian government,

We are excited to announce the successful go-live of Mashreq Qatar's Commercial Real-Time Gross Settlement (RTGS) solution, powered by Montran. This cutting-edge system will enable the bank to process high-value payments with unmatched speed, precision, and security, further enhancing their operational efficiency and customer experience. This achievement reflects our shared vision of empowering financial institutions with innovative technology tailored to meet the evolving demands of the industry. We extend our gratitude to Mashreq for their trust and partnership, and to our dedicated team for bringing this transformative solution to life. Together, we continue to shape the future of payments, one milestone at a time. Learn more about this important achievement here: https://lnkd.in/dy4TN6hV #RTGS #Montran #PaymentsInnovation #Mashreq #FintechTransformation

We are pleased to share that Bank ABC along with Gulf International Bank B.S.C. (GIB) and National Bank of Bahrain (NBB) have successfully led and closed a dual-tranche syndicated term facility for Beyon as Initial Mandated Lead Arrangers, Bookrunners, and Underwriters, leading the primary syndication process and securing participation from local and regional financial institutions. Contributors to the conventional tranche included Mashreq Bank and the National Bank of Kuwait – Bahrain. Meanwhile, the Murabaha tranche received strong backing from Ahli United Bank, Al Salam Bank, Bahrain Islamic Bank - BisB, and Boubyan Bank Kuwait. The 5-year facility features both conventional and Islamic tranches, which were executed under competitive terms to meet Beyon’s financing objectives.

Urgent Appeal to Dubai Islamic Bank (DIB) Regarding a Transaction Issue: On September 19, 2024, I mistakenly transferred AED 3,246 from my Emirates NBD account to an individual not in my contacts. Upon realizing the error, I immediately approached Dubai Islamic Bank (DIB), requesting assistance in reimbursing the amount back to my account. The bank informed me that the only way to resolve this was for the recipient of the funds to visit DIB, and sign a form, and the amount would be processed back to my Emirates NBD account within 7 working days. I coordinated with the recipient, and they willingly signed the required form at the bank. However, it has now been two months, and despite multiple follow-ups, the funds have yet to be returned. Whenever I contact DIB, I am told to wait until "tomorrow" or that the transaction has been "processed," but no concrete proof or update has been provided. This delay and lack of transparency are unacceptable. I would like to ask Dubai Islamic Bank to address this issue urgently and make sure that my fund is returned quickly. I trust the bank to uphold the values of customer service and accountability. Reference number: 0728AB86F87D Please take immediate action and provide a resolution. #DubaiIslamicBank #DIB #CustomerService #BankingIssue #EmiratesNBD #FinancialTransparency #Complaint #Reimbursement

We are excited to announce the successful go-live of Mashreq Qatar's Commercial Real-Time Gross Settlement (RTGS) solution, powered by Montran. This cutting-edge system will enable the bank to process high-value payments with unmatched speed, precision, and security, further enhancing their operational efficiency and customer experience.   This achievement reflects our shared vision of empowering financial institutions with innovative technology tailored to meet the evolving demands of the industry.   We extend our gratitude to Mashreq for their trust and partnership, and to our dedicated team for bringing this transformative solution to life. Together, we continue to shape the future of payments, one milestone at a time.   Learn more about this important achievement here: https://lnkd.in/dy4TN6hV   #RTGS #Montran #PaymentsInnovation #Mashreq #FintechTransformation

We are excited to announce the successful go-live of Mashreq Qatar's Commercial Real-Time Gross Settlement (RTGS) solution, powered by Montran. This cutting-edge system will enable the bank to process high-value payments with unmatched speed, precision, and security, further enhancing their operational efficiency and customer experience.   This achievement reflects our shared vision of empowering financial institutions with innovative technology tailored to meet the evolving demands of the industry.   We extend our gratitude to Mashreq for their trust and partnership, and to our dedicated team for bringing this transformative solution to life. Together, we continue to shape the future of payments, one milestone at a time.   Learn more about this important achievement here: https://lnkd.in/dy4TN6hV   #RTGS #Montran #PaymentsInnovation #Mashreq #FintechTransformation

QFC partners with Dukhan Bank to provide tailored banking services for its firms. Qatar Financial Centre Authority (QFCA), the legal and tax arm of the Qatar Financial Centre (QFC), a leading onshore financial and business centre in the region, has entered into a Memorandum of Understanding (MoU) with Dukhan Bank (DKB), one of the largest Shari’ah compliant banking institutions in the country, to pursue certain areas of collaboration that benefit both parties. The MoU establishes a framework for positioning DKB as a strategic partner bank for new and existing QFC-licensed firms and their employees on a non-exclusive basis. This collaboration includes co-branding a temporary shared physical space within the QFC premises, allowing DKB to effectively serve QFC licensed firms and their staff, as well as promoting DKB offers specifically tailored for QFC firms. Under the MoU, DKB will provide corporate banking accounts and create customised banking solutions for new QFC-licensed firms referred by QFCA once they have obtained their corporate registration credentials. Additionally, DKB will offer immediate banking services to all employees of these firms who are new to Qatar. Source: zawya.com #Qatar #QatarFinancialCentre #DukhanBank #BankingServices #ShariahCompliantBanking #CorporateBanking #QFC #BusinessGrowth #FinancialServices #QatarBusiness #Partnership #BusinessCollaboration #TailoredBanking #QatarEconomy #QFCFirms #QatarBusinessHub