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.