Al Ansari Exchange, FSI Capital pioneer Mobile Wallet Remittance service to Kenya

Al Ansari Exchange becomes the first Remittance Company in UAE to offer money transfer facility to Kenya through mobile phones

December 30, 2012

Al Ansari Exchange, a leading foreign exchange and worldwide remittance company in the UAE, has announced that it has recently signed an agreement with FSI Capital, a leading non-deposit microfinance provider of financial products and solutions in Kenya, to launch the Mobile Wallet Remittance service, becoming the first remittance company in the UAE to offer money transfer facility to Kenya via mobile phones. The Mobile Wallet Remittance simplifies the money transfer process by allowing customers to use their mobile phone to complete the transaction.


Al Ansari Exchange further revealed that customers sending money to Kenya simply have to indicate the name of the beneficiary, the beneficiary’s mobile number and the amount to be transferred. Recipients in Kenya can likewise use their mobile for cash withdrawal from any of FSI Capital’s more than 20,000 outlets, purchase airtime, pay bills, purchase goods, conduct P2P (Phone to Phone) transfers or mobile banking.


Rashed Ali Al Ansari, General Manager, Al Ansari Exchange, said: “It has always been our strategy to deliver practical solutions to address the various financial challenges that our customers face, both within the country and outside. For instance, customers in Kenya are facing difficulties due to the limited availability of financial services especially in rural areas. Hence, the Mobile Wallet Remittance service is a step in this direction as it simplifies the entire money transfer process, allowing our customers to safely send and receive money through their mobile phones virtually anywhere and anytime in Kenya, making it an ideal solution to the geographical challenges imposed by vast lands and limited financial services coverage. Al Ansari Exchange is the first to offer this service to Kenyans living in the UAE, further reaffirming the company’s leadership status and underlining our continuing thrust to expand and broaden the scope of our personalized financial solutions. Moreover, our partnership with FSI Capital demonstrates our commitment to build strong alliances that ultimately empower us to provide enhanced services and satisfy the expectations of our customers.”

Imdaad supports drive to instill social responsibility among UAE youth through Maharati skills development program

Company signs up as Silver Sponsor of unique initiative that teaches both technical and soft skills to Emirati teenagers

Dubai, UAE – December 24, 2012 – Imdaad, a leading provider of integrated facilities management solutions in the GCC, has announced its support as Silver Sponsor of the “Maharati Program – Winter 2012”, a unique initiative that aims to equip Emirati teenage students with different skills needed to enhance their personal development and technical capabilities. Imdaad’s partnership with the Maharati Program is in line with the company’s CSR strategy and its commitment to responsible business practices.


Mahmood Hussein Rasheed, COO, Imdaad, said: “Given the company’s important role in the sustainable and responsible upkeep of the society, Imdaad constantly explores other productive ways to create a positive impact on the society. Imdaad’s sponsorship of the Maharati Program therefore adds a new dimension to our CSR initiatives as we help inculcate a sense of social responsibility among Emirati teenage students. Sustainable facilities management is not just about sophisticated technologies and best practices; it is also all about the commitment and genuine concern of people towards the community and the environment. This is something we want to instill in our youth through our support of the Maharati initiative, to prepare them to become the future leaders of the UAE.”


The founder and CEO of ALQETAAF Consultancy, Khawla Ali Ibrahim Ali, said: Maharati program combines both technical and soft skills development, while it will also give the students the opportunity to meet successful leaders from different fields who will share their success stories and experiences. The technical skills training includes Mobile Application, Graphic Designing, Web Designing and Video Editing, while there is also the ‘Emirati Etiquette’ course wherein teenage students will learn and practice the standards and traditions of the Emirati culture.


The Maharati Program – Winter 2012 will run from December 22 to 29, 2012, focusing on three main courses: Camping, Carpentry Basics and Emirati Etiquette. Organized by ALQETAAF, a leading Training, IT & Human Resource Consultancy firm, the winter training program builds on the tremendous success of “Maharati Program – Summer 2012”, she concluded.


Imdaad has gained a strong reputation in the region as an adopter and implementer of the latest FM technologies and practices. The company acquires eco-friendly equipment and prioritizes sustainability across all its operations. It also conducts recycling training for its clients, corporate partners and staff, in addition to providing free recycling bins in certain projects where it handles waste management and collection service.

EIBFS holds workshop on assessing risks of SMEs

Intensive one-day workshop aimed at improving skills of lenders responsible for SME credit activities

December 23, 2012


The Emirates Institute for Banking and Financial Studies (EIBFS), the sole provider of specialized knowledge and enhanced learning experiences for the UAE banking and financial sector, in collaboration with Moody's Analytics, a leading business research and analytics firm, has announced its hosting of a workshop focused on ‘Assessing the risk of SMEs’ recently at the EIBFS Dubai Campus. The intensive one-day training program is part of the institution’s continuing focus towards the region’s SME segment. Interactive sessions and lectures featured at the workshop were aimed at improving the skills of lenders who are responsible for SME credit lending and risk activities.


“One of the essential requirements in becoming a successful banker for the SME segment is to have the ability of understanding your target market, along with its demands and requirements,” said Essa Al Zaabi, Deputy General Manager, EIBFS. “Looking to help develop the region’s next generation of world class bankers and finance professionals, we have collaborated with Moody’s Analytics to help participants improve their skills and have a better grasp of the Middle East’s SME segment—from assessing financial risk to developing analytical skills to help resolve market and management challenges.”


The workshop offered a review on the key aspects of SME lending, providing participants with the necessary skills and knowledge needed for the SME market. The event featured various case studies from actual companies, which helped the participants in improving their analytical techniques. The workshop was divided into four strategic sessions;



Financial risk assessment of SMEs


Cash flow construction and analysis


Assessing management and market risk


Panel session

The final session of the workshop focused on various techniques to improve the quality and quantity of information received from SME clients.

Al Dhafra Co-operative Society signs AED 250 million banking facilities agreement with Al Hilal Bank

December 23, 2012

Saif Mohammed Al Hamli, CEO of Al Dhafra Co-operative Society (ADCS), has revealed that ADCS has recently signed an AED 250 million banking facilities agreement with Al Hilal Bank, which will offer facilities with a value of AED 150 million to finance the purchase of machinery, equipments and cars, while the bank will also provide bank guarantees of AED 100 million.

Al Hamli lauded the significant efforts undertaken by members of ADCS’s board to develop the activities of the Cooperative Society to reaffirm its leadership position in the field of social and economic work to serve the people in the western region. This is based on its vision and mission to promote joint work, social integration, provide modern services and support development projects. This will also lead to the development of vital sectors such as retail, real estate, oil field services, car rental, and transportation, while also contributing to the protection of the environment and conserving its resources, and raising the level of safety in accordance with the highest standards of quality, efficiency and excellence.

Al Hamli pointed out that this agreement confirms ADCS’s continuous commitment to leadership and its strong position in the market, which is witnessing intense competition in all areas. He also praised the cooperation of Al Hilal Bank and the facilities that have been provided to the Cooperative Society, and hoped that this collaboration will be mutually beneficial.

“The banking facilities agreement signed with ADCS comes in line with our efforts to support the needs of the Cooperative Society and to fund its working capital and support its future investments. We will provide banking facilities to ADCS worth a total of AED 250 million in order to ensure the necessary liquidity to buy equipments, machinery and cars which are required for its operations, in addition to bank guarantees. This agreement reflects our role in supporting the retail sector in particular and the commercial sector in general. We are pleased to sign this agreement with ADCS, complementing our efforts to support various economic sectors in the country, particularly in the Western Region of the Emirate of Abu Dhabi,” said Sari A. Arar, EVP – Head of Wholesale Banking Group, Al Hilal Bank.

Power of Outsourcing highlighted at Dubai Business Women Council’s Network Majlis 

Business Development Manager of Corporate Business Services Al Hanoof Assaf discusses growing importance of outsourcing in UAE 

December 22, 2012

Dubai Business Women Council (DBWC) has recently concluded a new session of the Network Majlis with Al Hanoof Assaf, Business Development Manager of Corporate Business Services (CBS), a provider of business setup and company formation solutions in the UAE. Assaf conducted a presentation titled “The Power of Outsourcing” wherein she discussed various aspects of outsourcing, including its growing adoption in the UAE. The Network Majlis was held at the Dubai Chamber of Commerce and was attended by leading businesswomen and other prominent women personalities in the UAE.


Assaf, a trained NLP (Neuro Linguistic Programming) practitioner who regularly conducts workshops and seminars on the NLP communication model and team building, provided a comprehensive overview on outsourcing, highlighting its benefits and challenges.



Al Hanoof Assaf said: “Outsourcing is certainly gaining momentum in the UAE as the economy and different areas of specialisation develop rapidly. Companies here are increasingly realising the many advantages of outsourcing their non-core activity to specialised service providers. This Network Majlis session hosted by Dubai Business Women Council gave me an excellent opportunity to share my knowledge with several dynamic businesswomen of the UAE, many of whom have already leveraged the power of outsourcing for their business ventures.”




Raja Al Gurg, President, Dubai Business Women Council, said: “It was definitely a highly insightful and informative presentation on outsourcing conducted by Al Hanoof Assaf, who perfectly demonstrated her expertise and strengths as an accomplished training consultant. She highlighted several aspects about outsourcing which many of us were not aware of, and I believe those points would have significantly benefited the businesswomen who attended this Network Majlis session as they look to maximise operating efficiencies and reduce costs in their respective companies.”



Assaf, who holds a bachelors degree in International Business Management from the European University of Brussels, has several years of experience in marketing, customer relations, training and business development. An integral part of her current role at Corporate Business Services is supporting entrepreneurs and SME’s (small to medium enterprises) by facilitating and closing gaps of support means acquired from the government as well as the private sector.


Founded in 2002, DBWC motivates women to be productive members of the society, while encouraging role models to rise up from the ranks and inspire other women around the world, especially in the Arab region, to discover their true potential. DBWC organises the high-profile monthly event ‘Network Majlis’ to provide information about the latest knowledge, skills and best practices for women entrepreneurs and leaders.

EIBFS holds successful seminar on cyber crimes and internet threats against banking sector

Event aimed at raising awareness on importance of IT security as experts warn of increased online criminal activities

December 18, 2012

IT security experts have warned that the lack of awareness in IT security combined with the lack of preparedness has led to an increase in online criminal activities. Recent reports have shown that the Middle East has seen a rise in cyber attacks across various industry segments like banking and finance sector, Oil & Gas, government websites and even news portals. Looking to play its part in the move to increase awareness on the importance of IT security, the Emirates Institute for Banking and Financial Studies (EIBFS), the sole provider of specialized knowledge and enhanced learning experiences for the UAE banking and financial sector, successfully hosted a seminar on cyber crimes and internet threats against banking and financial institutions in the UAE on December 17, 2012 at the institute’s Sharjah Campus.

“Cyber crime has become a major concern for companies and organizations in the Middle East, particularly across banking and financial institutions. The increased instances of security breaches and other forms of cyber attacks are because of the lack of information on the importance of installing and implementing an IT security solution,” said Jamal Al Jasmi, General Manager, EIBFS. “Financial institutions today offer Internet-based and mobile-banking services, placing them under increasing pressure to provide enhanced customer protection against phishing, sophisticated malware, and other fraudulent activities. This event demonstrates our move to play a significant role in the campaign to make businesses and individuals aware of these cyber threats. Through this seminar, we were aiming to teach participants the essential information on how to avoid these attacks and what to do when being attacked.”

The event was broken down into of six key sessions that were aimed at informing participants on how to avoid cyber crimes and what to do when you become a victim of a cyber attack. Topics discussed included;

• Cyber threats against banks and online banking fraud: New Trends
• Cyber Fraud: Are you ready?
• Cyber crime challenges in banks
• Security trends for banks
• ATM and POS fraud
• Cyber crime investigations
  
  

Al Hilal Bank shares perspectives at world’s largest gathering of Islamic financial leaders

World Islamic Banking Conference discusses implications of MENA Islamic banking’s expected growth into USD 990 billion industry by 2015#

December 18, 2012

Abu Dhabi -based Al Hilal Bank joined international discussions on the state and future of Islamic banking during the World Islamic Banking Conference (WIBC) held recently in Bahrain. More than 50 countries were represented and over 1,200 industry leaders and 65 strategic partners, sponsors and exhibitors in attendance to provide a global perspective on Islamic banking and finance. 

A Platinum Strategic Partner of WIBC – the world’s largest forum for Islamic financial leaders – Al Hilal Bank actively participated in talks on the dramatic growth of the global Islamic finance sector, which is estimated to be worth more than USD 1 trillion. The industry extends beyond the Middle East to more than 300 Islamic banks in over 75 countries. The MENA region was an area of particular interest as its Islamic banking business is expected to more than double to USD 990 billion by 2015.

As a progressive Islamic bank, Al Hilal Bank has been turning to innovation to promote Islamic banking locally and regionally. The bank re-engineers and enhances generic Islamic structures to meet customer requirements for original financing solutions. Through unique initiatives such as the world’s first ‘Qibla Locator’ credit card, the Middle East’s first drive-thru bank branch and ‘Egrab,’ the world’s first 100% electric mobile bank, Al Hilal has been taking Islamic banking to new heights.

“The global experiences and practices we learned from the World Islamic Banking Conference will be of great help in further improving our products and services and creating more innovative offerings that unleash the full potential of Islamic banking. We are very satisfied with the results of our partnership with the Conference and look forward to supporting its future editions,’ said Mohammed Jamil Berro, CEO of Al Hilal Bank.Al Hilal Bank was established by the Abu Dhabi Investment Council, an investment arm of the Abu Dhabi Government, in 2008. It currently operates 22 branches and over 115 ATMs in the UAE as well as three overseas branches in Kazakhstan.

Standard Chartered holds Liquidity Management Seminar

Bank to launch enhanced cash and liquidity management tools

United Arab Emirates, 16 December, 2012 – Standard Chartered recently held a client conference focusing on liquidity management, which is the lifeblood of organisations. “Managing Liquidity in a Dynamic economic Environment” was an exclusive event attended by a select group of senior finance and treasury executives to discuss optimization of cashflow and working capital management. The Bank also presented and discussed with clients its plans to revamp its cash and liquidity management platform during the first quarter of 2013.


At the seminar, Philippe Dauba-Pantanacce, Senior Economist at Standard Chartered discussed global, regional and local economic outlook for 2013. Product specialists and Senior Executives provided insights on latest trends and developments in the field of Cash and Working Capital Management.


Commenting on the importance of cash management and the capabilities of Standard Chartered in this field, Haytham El Maayergi, Head of Transaction Banking, Standard Chartered UAE said:


“Stressed market conditions led organisations to increasingly focus on Cash and Liquidity Management to support business growth and manage their costs and investments. Standard Chartered is continuously investing in its capabilities and will launch during the first quarter of 2013 leading solutions that improve efficiency, manage risk and strengthen cash management processes for clients globally and in the region. With deep local expertise and a strong footprint across the world’s most dynamic markets of Asia, Africa and the Middle East, Standard Chartered will continue to be well placed to offer a full range of working capital solutions.”


Standard Chartered has been operating in the UAE since 1958 and has the largest distribution network among international banks with 11 branches four Electronic Banking Units and more than 130 ATMs and CDMs.

Al Hilal Bank named Middle East’s ‘Best Regional Retail Bank’

Thousands vote for progressive Islamic bank at 2012 Islamic Business & Finance Awards

December 15, 2012

Al Hilal Bank once again proved its leadership in Islamic banking by winning ‘Best Regional Retail Bank (Middle East) at the prestigious 2012 Islamic Business & Finance Awards held recently in Dubai. The bank emerged victorious from a short list of hundreds of top Islamic financial institutions, receiving thousands of votes cast by readers of Islamic Business & Finance magazine and registered users of the financial news website www.cpifinancial.net.

This marks the third consecutive year that Al Hilal Bank has been recognized by the Islamic Business & Finance Awards for excellence in regional retail banking; for the last two years the bank was named ‘Best Retail Bank (GCC). The award was held for the 7th year by Islamic Business & Finance magazine – the authoritative voice of the global Islamic finance industry with a worldwide circulation covering all continents. Al Hilal joined winners from Africa, Asia, the Middle East and Europe in celebrating another year of impressive growth for Islamic finance. Mr. Mohamed Zaqout, Al Hilal Bank’s EVP, Head of Personal Banking, received the award on behalf of the bank. 

“It was truly an honour to be among the world’s top bankers and financiers and be recognized for our pioneering work in Islamic banking, particularly in the retail segment. More importantly, through, we earned this accolade through the voice of the voting public. We assure our customers and partners that we will continue to uphold our visions as a progressive Islamic bank,” said Mr. Zaqout.

Around 200 of the international banking world’s top practitioners and leaders gathered at the 2012 Islamic Business & Finance Awards to witness the handing out of 36 awards to the best and the brightest in global Islamic banking and finance. The annual awards ceremony is organized by Islamic Business & Finance – a magazine managed by the Middle East's leading financial publisher, CPI Financial.

Since its inception in 2008, Al Hilal Bank has been the recipient of various local and international industry recognitions, including ‘the ‘Quality Appreciation Certificate’ at the 2011 Sheikh Khalifa Excellence Award (SKEA), the UAE’s most prestigious business excellence award, and ‘Most Improved Bank’ during the 2011 Bank Benchmark Index Awards organized as part of UAE Customer Service Week. Al Hilal currently operates 22 branches and over 115 ATMs in the UAE as well as three overseas branches in Kazakhstan. 

Barclays Bank Egypt Sponsors Exclusive Allegria Home Fair at Sodic

Cairo – Barclays Bank Egypt sponsored the largest home fair event by Sodic, Allegria Home Fair, bringing together reputable and biggest home furnishing and appliance dealers in one place in November.


Barclays Bank Egypt Barclays has recently launched the new Platinum Worldmiles Visa credit card that enables customers to fly anywhere, at any time with any airline benefiting from the Platinum Miles rewards program where cardholder can earn 2 free miles by purchasing with 1LE.


Allegria Home Fair, in partnership with Designopolis, provided people who have purchased units in Allegria an exclusive opportunity to explore various shops, designers and styles to help them furnish their new homes. The event featured entertainment activities for children of all ages as well as exciting gifts of plasma screens from Barclays Bank Egypt and many more gifts.

Bain & Company appoints strategy, innovation and performance improvement expert Yasar Jarrar to its Middle East Partnership

December 12, 2012

Dubai, UAE – Bain & Company, the global business consulting firm, continues to strengthen its business in the Middle East with the appointment of Dr. Yasar F. Jarrar to its partner team. Jarrar, who also serves as a Member of the World Economic Forum’s Council on the Future of Government (Global Agenda Councils), joins Bain with more than  two decades of specialized practice, research and international teaching experience in strategy, innovation and performance management. His new role was announced by Luc Luyten, Managing Partner of Bain’s Middle East business operations.

“Bain & Company continues to reinforce our team with dynamic, results-driven and widely experienced experts, whose strategic contributions will further strengthen the company’s reputation as the leading business consulting firm in the Middle East,” said Luyten. “Yasar brings a wealth of knowledge and fresh ideas in strategy, innovation and performance management through his extensive professional experience.”

Dr. Jarrar has extensive experience working with government institutions in the Middle East, having served as Strategy Advisor to the Director General at The Executive Office of Dubai, Director of the Government Performance Directorate in the Prime Ministry of Jordan, and Head of Policy and Strategy in the Executive Council of the Dubai Government. He also previously advised organizations in the UK on strategy and performance across a number of industries, including  consumer products, financial services and transportation.

Additionally, he was distinguished as a Young Global Leader by the World Economic Forum in 2009 and founded the World Economic Forum’s Global Shapers Hub in Dubai. He is also a fellow at the Cranfield School of Management, UK, a senior advisor of the Harvard International Negotiation Initiative at Harvard University, adjunct professor at Lee Kuan Yew School of Public Policy, NUS, Singapore, and research fellow at the Dubai School of Government. Jarrar earned a Ph. D. in management and manufacturing engineering and a master’s degree in engineering management from the University of Birmingham, UK.

“Bain & Company has established an exceptional reputation in the Middle East as the consulting firm of choice among the region’s leading business leaders,” said Dr. Jarrar. “It is a great privilege to be part of the team and work alongside Bain & Company’s widely acclaimed consultants, as we help solve our client’s most complex business issues in the Middle East.”

EIBFS throws the spotlight on its training and consultancy services at premier event for UAE SMEs

Leading institute offers 17 new specially designed SME courses during Entrepreneurial Ventures of Arabia's 3rd Annual Global Entrepreneurship Summit

December 12, 2012


The Emirates Institute for Banking and Financial Studies (EIBFS), the sole provider of specialized knowledge and enhanced learning experiences for the UAE banking and financial sector, launched 17 new training programs for the SME segment at Entrepreneurial Ventures of Arabia's (EVA) 3rd Annual Global Entrepreneurship Summit, the Middle East and Africa's premier summit and exhibition for innovation, entrepreneurship and SMEs, which was held from December 11, 2012 to December 12, 2012 at the Dubai World Trade Centre. Held for the first time in the UAE, the flagship platform event allowed the leading institution to throw the spotlight on 17 new SME courses that have been specifically developed to help SMEs increase their productivity and improve on efficiencies.


The event is a special initiative of the Government of Dubai and is being held under the patronage of His Excellency Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai. According to EVA, the first-of-its-kind Dubai show was aimed at developing key entrepreneurial skills to complement the Middle East's growing economies while at the same time help SMEs develop their roadmaps in identifying potential business opportunities across local and international markets. In addition, the two-day show was positioned to be a strategic platform for SMEs—from suppliers, funding organizations, government agencies to public and private entities, to showcase their products, services and initiatives and achievements. Participants for this year’s event included investors, channel partners and corporate procurement executives.


“Our participation at this year’s edition of the GES has allowed us the strategic opportunity for showcasing our training programs and consultancy services that have been specially designed for Middle East SMEs,” said Jamal Al Jasmi, General Manager, EIBFS. “We understand the significant role that SMEs play in the Middle East’s move towards economic development, which is why we have created 17 tailored courses that teaches and trains SMEs in various aspects of their business, from doing basic financial calculations, business forecasting to performing strategic financial management and understanding mergers and acquisitions. These courses demonstrate our long standing commitment to provide the region in general and the UAE in particular, with essential training programs that aim to improve and develop businesses.”


Enrolling under an EIBFS offered program proves to be very advantageous and beneficial to both businesses and their employees. The institution’s long years of experience for training and educating the UAE banking and financial segment has ably positioned them as a leader in specialized education. EIBFS campuses, which are strategically located across the region, have the required resources and are fully equipped, with each course facilitated by highly knowledgeable and industry proficient trainers. The institute can also design and deliver training programs according to specific demands and requirements presented by banks or financial institutions. EIBFS training programs for SMEs include;



IFRS For SMEs


Finance for non-Financial SME Executives


Accounting for non-Accountants SME Executives


Basic Financial Calculations for SME Executives


Practical View of Financial Markets


Investments for SMEs


Budgeting for SMEs


Investment Appraisal for SMEs


Economics for SMEs Executives


Financial Statement Analysis for SMEs


Business Forecasting for SMEs


Strategic Business Plan for SMEs


Strategic Management for SMEs Executives


MS Excel for Financial Executives


Private Companies Evaluation


Strategic Financial Management for SMEs


Mergers and Acquisitions Model

EIBFS reinforces support for UAE’s Emiratization initiative with roll out of 480 training programs in 2013

• Institute’s ‘Annual Training Plan’ to include e-learning and leadership development programs

• 2013 will witness official launch of Dubai Academic City Campus

December 10, 2012

The Emirates Institute for Banking and Financial Studies (EIBFS), the sole provider of specialized knowledge and enhanced learning experiences for the UAE banking and financial sector, has announced details for its ‘Annual Training Plan’ for 2013, during a press conference held today (Monday, December 10th) at the EIBFS campus in Sharjah. The ‘Annual Training Plan’ includes the addition of 14 new program offerings to the institute’s 480 offered courses, which have been designed to comply with training requirements presented by UAE-based banks while also targeting newly graduated UAE Nationals. The 2013 plan shows an 18.5 per cent increase in the number of training programs as compared to 2012.

According to EIBFS, the creation of the new ‘Annual Training Plan’ was based on several key objectives, which include the move to elevate the performance of employees in the banking and finance segment, particularly workers in middle and upper management positions; to provide further support and help in the move to promote human resource development trends and to support the country’s bid towards Emiratization. A major factor considered in developing the program is the opening of the new EIBFS campus in Dubai Academic City, which is strategically located within a large gathering of banking and financial institutes. In addition, the plan is also the result of a review and evaluation made on the previous year’s program. In a bid to create a plan that could meet current training demands, the institute conducted a series of meetings with training managers and HR directors from banks across the UAE.

155 training programs, representing 32.3 per cent of the 2013 ‘Annual Training Plan,’ will be offered at the new Dubai Academic City campus; 18 training programs will be offered in the Al Ain campus; 14 training programs will be offered in the Fujairah campus and three pioneering programs in the Ras Al Khaimah campus. One of the highlights of the new ‘Annual Training Plan’ is the opening of 65 e-training programs.

“We are very confident that the 2013 ‘Annual Training Plan’ will play a significant role in the efforts to raise the level of national employment in the UAE banking and finance segment. The success that we are expecting to achieve for this new series of remarkable course offerings will rely heavily on the support and collaboration of all officials, industry players and the technical and administrative departments of EIBFS,” said Jamal Al Jasmi, General Manager, EIBFS. “We would like to express our sincere gratitude to the officials, trainers and HR personnel who have helped in providing us input and feedback—giving us a better understanding of the country’s current training requirements for banking and finance.”

EIBFS will also be launching new professional certification programs in partnership with several international banking institutions. These new course offerings are being positioned to act as a catalyst for undergraduates and job seekers wishing to embark on a career in banking. Some of these programmes include Credit Card Management (CCM) - Certification with Hong Kong Institute of Bankers (HKIB); Certified Documentary Credit Specialist (CDCS) - Certification with the British Institute of Financial Services; ACCA Certification with the Association of Chartered Certified Accountants and many more.

“2012 was a good year for us as we have witnessed a dramatic improvement in our offered financial diploma and Baccalaureate programs. This strong positive response has led us to the creation of a Master’s Program in Banking, which has been designed based on criteria set by the UAE Ministry of Higher Education and Scientific Research. This new program will be offered in collaboration with some of the world’s leading educational institutions. We will be announcing this new Master’s program once it gets approved by the Ministry,” concluded Al Jasmi.

Arab world imports USD 106.9 million worth of Brazilian coffee in H1 2012

Brazil exports more than 526,000 pieces of 60-kilogram coffee bags to Arab markets

December 9, 2012

The Arab world imported USD 106.9 million worth of Brazilian coffee during the first half of 2012, reflecting a 1.52 per cent increase in revenues compared to the same period last year, according to new figures released by the Brazilian Coffee Exporter Council (Cecafé). Brazil exported 526,464 pieces of 60-kilogram coffee bags to various markets in the region from January to June 2012.


According to the Arab-Brazilian Chamber of Commerce, the Arab world has been consistently a major market for Brazilian coffee products. In 2011, Brazilian coffee exports to the Arab region reached USD 214 million, increasing by 35.88 per cent from 2010 according to statistics from the Arab-Brazilian Chamber of Commerce.


“Brazilian coffee exporters are stepping up efforts to satisfy the preferences and needs of consumers in the Arab region, where coffee has always been a very popular beverage. The increase in revenue during the first six months of 2012 is a strong indication that we are in the right direction as we continue to cultivate healthy trade alliances between Brazil and the Arab world. In this regard, the Arab-Brazilian Chamber of Commerce remains firmly committed to provide strategic support to further expand the market share of Brazilian coffee exporters in the lucrative Arab market,” said Michel Alaby, General Secretary and CEO of Arab-Brazilian Chamber of Commerce.


The Arab-Brazilian Chamber of Commerce has been established to consolidate and expand partnerships, generate opportunities and bring Arabs and Brazilians together. It has been in operation for more than 60 years, playing an active role in boosting economic, cultural and tourism activities, and facilitating the flow of information between Arabs and Brazilians.

Al Ansari Exchange receives an Appreciation Award from Abu Dhabi University for their Emiratisation initiative

175 UAE nationals trained and recruited by Al Ansari Exchange in 2012

December 9, 2012

Al Ansari Exchange, a leading foreign exchange and worldwide remittance company in the UAE, has received an Appreciation Award from Abu Dhabi University in recognition of its strong support to the government’s Emiratisation program and for its proactive efforts to hire and train UAE nationals. Al Ansari Exchange’s Emiratisation drive has led to a total of 175 UAE nationals being hired in 2012 alone, while the company’s Foundation Training Program has provided specialized training to Emiratis on key subjects such as Product Knowledge, Quality Customer Service, Anti-Money Laundering and Preventing Fraud and Counterfeit Money.


To complement its ongoing efforts to attract UAE nationals, Al Ansari Exchange has also been actively participating in key recruitment and professional networking events such as Careers UAE, the leading recruitment, education and training event exclusively for UAE nationals. Al Ansari Exchange has earlier announced that it aims to expand its localisation program by 10 per cent in 2012.


Rashed Ali Al Ansari, General Manager of Al Ansari Exchange, said, “In support of the UAE’s Emiratisation strategy, Al Ansari Exchange has been actively engaged in various initiatives that aim to open more exciting opportunities for UAE nationals to establish a successful career in the financial sector. This year, we have further stepped up our nationalisation drive as we have already hired a total of 175 UAE nationals, who now hold key positions in almost all departments and across Al Ansari Exchange branches nationwide. The Appreciation Award from Abu Dhabi University therefore validates the commitment of Al Ansari Exchange to discover new talents and harness the full potential of UAE citizens to become successful professionals in the financial sector.”

International Academy of Retail Banking partners with EIBFS

December 05, 2012

The Emirates Institute of Banking and Finance Studies (EIBFS) and the International Academy of Retail Banking (IARB) have formed a partnership to provide world-class education and professional certification to professionals working in the UAE’s retail banking industry. The Memorandum of Understanding (MoU) establishing the venture was signed recently during a ceremony marking the occasion at the EIBFS Dubai campus. The event was attended by senior executives representing some of the country’s leading banks.

The Academy is a division of the London-based Lafferty Group, which provides education, research and intelligence in the fields of retail banking and payments to financial institutions worldwide. IARB is unique in being an international organization providing an education program with in-depth focus on retail banking as a profession. The Academy offers programs and certifications for high achievers in the retail banking sector at three levels – foundation, intermediate and expert. Retail bankers who have completed their studies successfully and passed the Expert examination of the academy will become members of the International Academy of Retail Banking and become entitled to use the designation CIRB – Certified International Retail Banker.

Jamal Al-Jassmi, General Manager of EIBFS, said the partnership with the IARB is a major development for the banking industry in the Gulf: “Banks in the region attach great importance to providing clients with world-class standards of retail banking. They support the concept of retail banking being a profession like accountancy and law”, he said.

Michael Lafferty, Chairman of Lafferty Group, said “The academy is dedicated to enabling the highest standards of professionalism in the conduct of retail banking. Members will also have access to an unmatched international network of professional retail bankers and to a specialist research facility. Lafferty is proud and honored to be working with the EIBFS”.

The Academy has developed its own proprietary coursework and recruited a core faculty of senior retail bankers from around the world.

In 2013, academic programs will be held in Dubai, Abu Dhabi, Saudi Arabia, Nigeria, South Africa and Egypt – as well as Indonesia, Singapore, Malaysia, Vietnam and the UK.

Mubasher offers Middle Eastern investors an exciting new gateway to access shares of fast-growing companies before they go public 

• Agreement with SharesPost gives Mubasher clients access to shares before IPOs

• Investors benefit from Mubasher’s technology & SharesPost’s extensive network

Bahrain, Dubai, San Francisco: 05th December 2012: Mubasher Financial Services (MFS), one of the region’s top brokerage firms with subsidiaries in the UAE, Bahrain, Egypt and Libya, has agreed to work with SharesPost (member FINRA/SIPC), a leader in private capital markets. Through SharesPost’s platform, Mubasher’s GCC clients can now buy shares in some of the world’s fast-growing private companies even before their Initial Public Offering.


The agreement combines the technological strength of Mubasher’s real time trading platform with the expertise of SharesPost, which offers 450 research reports from 11 third-party providers. Mubasher’s clients will gain direct access to this list of companies, in addition to the 35 global and regional equity markets already available on its trading platform.


Malek Kanawati, CEO of Mubasher, explained: “I've been impressed by the performance of the companies on SharesPost, which I believe shows that smaller, fast growing companies can outperform a portfolio of large cap companies. Previously such exciting opportunities were only available to major clients of investment banks, but Mubasher is now democratizing the investment process. We are empowering GCC investors to make smart investments in high-potential private companies like Twitter and many others.”


Greg Brogger, President of SharesPost, agreed with Mr Kanawati’s assessment, adding: “Many of today’s most innovative cutting-edge companies are choosing to go public later. We are excited to partner with Mubasher to bring SharesPost technology and services to the Middle East, opening up pre-IPO investment opportunities in the region. We have selected Mubasher because we feel they are an ideal partner due to their extensive client network in the region and their technological lead.”


This agreement is the latest in a long line of strategic agreements and expansions by Mubasher. In addition, the firm recently solidified its reputation as a consistent innovator by winning the ‘Best Broker UAE’ award for the third year in a row.

مستثمرو الشرق الأوسط يتداولون أسهم الشركات قبل طرحها للاكتتاب العام

مباشر توقع اتفاقية شراكة مع SharesPost

البحرين، دبي، سان فرانسيسكو- 05 ديسمبر 2012: وقعت مباشر، شركة الخدمات المالية الرائدة في المنطقة اتفاقية شراكة مع شركة SharesPost (عضو مجموعة FINRA/SIPC) ورائدة أسواق المال الخاصة تتيح لعملاء مباشر في دول الخليج استخدام منصة SharePost لتداول الأسهم في عددٍ من أسرع الشركات الخاصة نمواً في العالم حتى قبل طرحها للاكتتاب العام. 

وتجمع الاتفاقية قوة منصة مباشر التكنولوجية للتداول مع الخبرة العريضة التي تتمتع بها SharePost والتي توفر قاعدة بيانات تشمل 450 تقريراً مقدمة من 11 مزود خدمة مختلف. وسيغدو بمقدور عملاء مباشر الوصول إلى قائمة الشركات التي تضمها SharePost إضافة إلى 35 سوقاً عالمية وإقليمية تضمها مظلة مباشر. 

وفي سياق تعليقه على توقيع هذه الاتفاقية، قال مالك قنواتي، المدير التنفيذي لمباشر: "لقد كان لافتاً الأداء المتميز للشركات في SharePost والتي تُظهر بيانات إيجابية للغاية للشركات الصغيرة والمتوسطة تتخطى في بعض الأحيان شركاتٍ عملاقة. سابقاً، كانت فرص التداول حكراً على عملاء محددين للبنوك الاستثمارية لكن مباشر الآن استطاعت خرق هذه المنظومة لتتيح لعملائها في منطقة الشرق الأوسط خوض غمار استثمارات ذكية في شركات تنطوي على فرص استثمارية واعدة مثل تويتر وغيرها". 

من جانبه، قال جريغ بروغر، رئيس SharePost : "أتفق تماماً مع الطرح الذي تفضل به السيد قنواتي وأود لفت الانتباه إلى أن معظم الشركات الواعدة تختار الذهاب إلى الاكتتاب العام كخطوة أخيرة. نحن سعداء بهذه الشراكة التي تربطنا مع مباشر لنضع بين يدي المستثمرين في منطقة الشرق الأوسط تكنولوجيا وخدمات SharePost وفتح باب الاستثمار في مجال ما قبل الطرح العام الأولي في المنطقة. وجاء اختيارنا لشركة مباشر نظراً للميزات التي تتمتع بها على صعيد التكنولوجيا المتقدمة وشبكة عملائها الواسعة". 

تجدر الإشارة إلى أن هذه الاتفاقية تعتبر الأخيرة في سلسلة الاتفاقيات الاستراتيجية التي وقعتها مباشر مع عدد من الشركاء للتوسع في باقة خدماتها. وقد حصدت مباشر مؤخراً جائزة "أفضل وسيط مالي" في دولة الإمارات للسنة الثالثة على التوالي، الأمر الذي يعكس السمعة الطيبة التي تتمتع بها الشركة في أوساط المال والأعمال في المنطقة. 

Dubai World Central’s Al Maktoum International Airport to host the Middle East Business Aviation (MEBA) event next week

Business aviation to commence operations from 2013

December 4, 2012

Dubai World Central (DWC), the world’s first purpose-built aerotropolis, announced at a press conference held today (December 4, 2012) that the upcoming Middle East Business Aviation (MEBA), taking place from 11 to 13 December, 2012, will be the first industry event hosted at DWC’s Al Maktoum International Airport (AMIA). It will be the 5th edition of an event that is dedicated towards connecting buyers and sellers within the business aviation segment and is expected to draw more than 385 exhibitors from 37 countries and 7,000 visitors across the three days. Reflecting the importance of the business aviation and general aviation sector to the long term strategy of the Dubai Government, it was further announced that business aviation operations will commence from Dubai World Central in 2013 – initially utilizing the VIP terminal at AMIA, then from purpose-built facilities at DWC’s Aviation District.


Khalifa Al Zaffin, Executive Chairman, Dubai Aviation City Corporation (DACC), said: “The aviation sector is an important contributor to Dubai’s economy. The business aviation and general aviation segment is an area we see tremendous opportunities for growth and this is one of the reasons we are extremely proud to support MEBA and Middle East Business Aviation Association (MEBAA). Furthermore, we are pleased to be hosting the 5th edition at DWC. It is the perfect alignment of the Government of Dubai’s vision to develop DWC to meet the on-ground capacity and business needs of the wider aviation industry and MEBAA’s goals to help support the growth of the general aviation segment within the region. The event also provides us a valuable opportunity to showcase DWC’s world-class infrastructure and facilities that are on the ground and ready for business. DWC’s Aviation District is the perfect platform for business aviation and demonstrates the Dubai Government’s long term commitment to the industry. DWC merges both soft and hard infrastructure with the necessary conditions to help the industry grow and flourish, as well as create new opportunities for all players.”


MEBA is organized by F&E Aerospace on behalf of MEBAA and after just four editions MEBA is firmly established as a world class event in the business aviation calendar. The event is widely recognised as a must attend platform which offers unrivalled access to the Middle East market in a highly focused environment.


Ali Al Naqbi, Founding Chairman of Middle East Business Aviation Association, said:

“Hosting MEBA at Dubai’s Al Maktoum International Airport, Dubai World Central (DWC) – a landmark venue, is testament to the size and importance of business aviation in the UAE and wider region. In the future, this airport will grow into an important gateway for business aviation and it has been a privilege to involve ourselves with its development so early in the process. We look forward to welcoming our partners, exhibitors and sponsors to this significant event in the global business aviation calendar.”


Rashed Bu Qara’a, Chief Operating Officer, Dubai Aviation City Corporation, said: “Aviation is a key industry with huge economic potential for the UAE and the rest of the Middle East because of its positive flow-on effect on other industries. We are pleased to host the MEBA 2012 event as it gathers all key players in the region’s business aviation industry, giving us an opportunity to acknowledge their role in the growing status of Dubai World Central as the future home of general aviation in the Middle East.”


He further revealed: “In collaboration with all government stakeholders, Dubai Airports Company, Dubai Police, Dubai Customs and Dubai Immigration, I am proud to announce the commencement of business aviation operations from DWC starting early 2013. This is part of the long-term migration strategy of shifting general aviation from Dubai International Airport to Al Maktoum International Airport. During this initial phase, we will utilize the VIP terminal within the passenger terminal. Shortly thereafter, we expect the first business aviation operations to commence out of DWC’s Aviation District in mid 2013.”


The fifth edition of the aviation showcase will have more than 46,500 sqm of outdoor static display featuring up to 45 business aircraft from leading international manufacturers, including Gulfstream, Bombardier, Dassault and Embraer. MEBA will also host various country pavilions and expects exhibitors from all around the world to showcase their latest innovations, products and services.

Epicor Wins Gold in Best in Biz Awards 2012

Independent Panel of Judges from Top-Tier News, Business and Technology Publications Determined Winners

Dubai, United Arab Emirates, December 3, 2012 -- Epicor Software Corporation, a global leader in business software solutions for manufacturing, distribution, retail and services organizations, recently announced the company has been named a gold winner in the company category of “Fastest Growing Company of the Year” in the Best in Biz Awards 2012, the only independent business awards program judged by members of the press and industry analysts. More than 400 entries were received in this year’s awards program, from a wide array of public and private companies of all sizes and from a variety of industries and regions in the U.S. and Canada.

This is the first year Epicor has won in the esteemed Best in Biz Awards. “We are honored to be recognized by the Best in Biz Awards,” said Pervez Qureshi, President and CEO for Epicor. “This award is a result of our ongoing commitment to provide unparalleled innovation in our technology, software, and services. With a strong commitment to customer success––our growth is evident in our focus to empower customers with the right tools to successfully drive their businesses to achieve success.”

Epicor offers a comprehensive range of services with its enterprise software solutions, providing a single point of accountability to promote rapid return on investment and low total cost of ownership. Epicor enterprise software solutions provide the scalability and flexibility to meet today's business challenges, while inspiring enterprises to achieve even greater success in the future.

Best in Biz Awards 2012 honors were presented in more than 50 categories, including Company of the Year, Most Innovative Company of the Year, Executive of the Year and Best New Product of the Year. Winners of Best in Biz Awards 2012 were determined by an independent panel of 32 judges from top-tier news, business and technology publications, as well as broadcast outlets and analyst firms, such as ABC, BusinessWeek, Computerworld, USA Today and ZDNet. For a full list of gold, silver and bronze winners in Best in Biz Awards 2012, visit: http://www.bestinbizawards.com/2012-winners.

Central Bank of Bahrain upgrades Mubasher to the highest category of investment firms

Category 1 has the highest capital requirements; allows for the widest variety of services

Bahrain, Dubai: 02 December 2012: Mubasher Financial Services (MFS), a leading regional brokerage firm with subsidiaries in the UAE, Bahrain and associate companies in Libya and Egypt, has been licensed as a Category 1 investment firm by the Central Bank of Bahrain.


The upgrade is part of Mubasher’s expansion strategy, which has resulted in the firm opening up new markets for its institutional and high net worth clients. Mubasher aims to obtain the highest categories of licenses in the countries where it operates, in order to diversify its financial products.


Malek Kanawati, CEO of Mubasher, commented: “This upgrade broadens our offerings in the 35 regional and international markets we operate in. It gives our clients greater confidence, knowing that we are constantly exploring ways to enhance their investment options.”


His comments are supported by the fact that Mubasher recently signed strategic agreements designed to give its clients greater access to the most unique and innovative investments in global markets.


Mr Kanawati added: “We have established a strong track record - as evidenced by the fact that we won the “Best UAE Broker” award for the third successive year, and also won the “Best Online Trading Platform” award. For 12 years our organization has demonstrated its resilience by absorbing the fluctuations of turbulent markets. We have also distinguished ourselves as innovators, from both the technological and product viewpoints. This latest milestone marks a new chapter in our success story.”

تعطي دفعاً جديداً لعمليات الشركة التشغيلية

مصرف البحرين المركزي يرفع "مباشر" إلى تصنيف الدرجة الأولى

الإمارات، دبي٢ ديسمبر 2012: رفع مصرف البحرين المركزي التصنيف العام لشركة مباشر للخدمات المالية، إحدى شركات الخدمات المالية الرائدة في المنطقة، إلى الدرجة الأولى. وتأتي هذه الترقية تماشياً مع استراتيجية مباشر التي أدت إلى فتح أسواق جديدة أمام عملائها. فيما تسعى الشركة إلى الحصول على العديد من التراخيص في دول جديدة لتوسيع دائرة النشاط التجاري ما يسمح بتنوع المنتجات المالية التي تقدمها.

من جانبه، قال السيد مالك قنواتي، المدير التنفيذي لمباشر: "من شأن هذا التصنيف أن يسهم في توسيع نطاق أنشطتنا المالية في المنطقة ودفعاً لنشاطنا في 35 سوقاً خليجية وعربية وعالمية ننشط فيها. وتسهم هذه الخطوة في زيادة ثقة عملائنا بخطة التوسع الذي ننشدها على صعيد عملياتنا التشغيلية ما يعزز من فرص الإستثمار المتاحة لهم".

وأضاف: "نحفل في مباشر بسجل نجاحات قوي تمثل بحصولنا على جائزة أفضل وسيط مالي في الإمارات للعام الثالث على التوالي، وإحرازنا في وقت سابق لقب جائزة أفضل منتج مصرفي. وقد أظهرنا على مدار 12 عاماً مرونة وقدرة كبيرة على استيعاب القفزات النوعية التي شهدتها أسواق المال خلال هذه الفترة. لذلك نحن اليوم ندشن مرحلة جديدة من نشاط الشركة خاصة أننا استطعنا اثبات تميزنا في من الناحية التقنية أو ناحية الخدمات المالية التي نقدمها". 

يُذكر أن مباشر عملت في الفترة الأخيرة على توقيع اتفاقيات استراتيجية عديدة من أجل توفير فرص أكبر لعملائها للقيام باستثمارات فريدة وأكثر إبتكاراً في الأسواق العالمية.