Adopting a new tax system, Saudi Arabia and the UAE deliver a shock to companies and consumers—and reassurance to foreign investors.
The drive to innovate is getting stronger as countries look to ease their reliance on oil revenues.
Innovative airline uses technology from NASA and Mercedes-Benz to elevate customer experience.
Islamic scholar in Indonesia says Bitcoin is compatible with Islamic law.
While other banks look abroad for growth, Boubyan Bank CEO and vice chairman Adel Al Majed says Boubyan focuses closer to home.
Digital banking, cryptocurrencies, ecommerce and fintech start-ups—2017 was a record year for digital investments in the MENA region. But there’s wide variation between countries.
The war in neighboring Syria has taken its toll on Lebanon’s economy, which is demonstrating lackluster growth and high levels of public debt. Could the upcoming May parliamentary elections restore growth and investor confidence?
Bank Muscat CEO Abdul Razak Ali Issa discusses the unique challenges and opportunities of banking in Oman, and how his institution serves clients throughout the region.
Egypt’s entrepreneurs need innovative financial services delivered via mobile phone to become successful contributors to the economy, says CIB’s chairman and managing director, Hisham Ezz Al-Arab.
UAE and Jordan lead the Middle East's drive for post-hydrocarbon, environmentally sound projects.
French Total, Italian ENI and Russian Novatek won Lebanon’s first tender for hydrocarbon exploration and production. Operations start in 2019 in two offshore blocks, including one disputed by Israel.
Cash-rich Kuwait, bolstered by a healthy banking sector, is taking steps to reduce dependence on petroleum and motivate entrepreneurs.
Al Ahli Bank of Kuwait’s CEO, Michel Accad, opens up about his country’s economic role in the Arab world and why the Gulf nation might never achieve all its lofty aspirations.
FTSE announced Kuwait’s forthcoming addition to the Secondary Emerging Markets list last September. What’s happened since?
Salah Al-Fulaij, CEO of NBK-Kuwait, shares thoughts with Global Finance about competition, Kuwait’s growth prospects and the pressures of global regulation.
Last year was a record year for Middle East and North African (MENA) start-ups, with 260 deals attracting $410 million in investment, according to a report by Magnitt, a regional network for entrepreneurs and investors. The United Arab Emirates attracted ...
The consortium, called ALGO, will enable Islamic member banks to create fintech solutions in a cost-effective and fast manner.
Dr. Ziad Fariz, governor of Jordan’s central bank since 2012, talks about the refugee problem, recovery from the financial crisis, and how his country is keeping its financial system on an even keel.
Riad Salamé, governor of Lebanon’s central bank, discusses economic conditions for his country and the region in general, and how Lebanon benefits from its “strong, healthy and conservative banking sector.”
By June 2018, 32 million Saudi women will be allowed to drive.
The fintech sector is heating up across sub-Saharan Africa. Foreign investors are paying close attention and providing start-ups with the capital needed to get off the ground.
Some of this year’s biggest deals include $20 million for Bahraini payment solution PayTabs, $3.5 million for Emirati finance-comparison platform yallacompare and $1.5 million for Emirati mobile-banking solution NOW Money.
Initial Coin Offering (ICO) that raise funds using digital currencies have come under regulatory fire in recent times.
The United Arab Emirates (UAE) wants to be one of the first countries in the world to roll out the fifth generation of mobile networks, more commonly known as 5G.
Without clear leadership, the world’s biggest ride-hailing company enters a phase of uncertainty.
Bruno Le Maire, France's new minister of the Economy — is appointed by Emmanuel Macron following the French presidential elections
The Central Bank of Bahrain will launch the kingdom’s first electronic wallet by the end of June, “an important step in enhancing the financial sector by providing innovative payment solutions aimed at both public and private sectors,” says Salman bin ...
Amazon enters Arab markets of the Middle East / North Africa region by buying up Souq.com, an established online retailer.
Equity-based real estate platform Yielders is the first Islamic fintech to receive accreditation from Britain’s Financial Conduct Authority.
The Lebanese economy was hit hard in recent years, mainly by spillover from Syria’s crisis. However, the financial sector has proven resilient and domestic political stability offers renewed prospects for growth.
Doing business in Egypt and Turkey is not for the fainthearted. Bank Audi’s vice chairman and group strategy director says success in these markets is about being able to absorb short-term shocks.
Tunisian Bank Receives ISO 27001 Certification
Regional political and economic uncertainty has not impeded Lebanese banks’ expansion into countries such as Jordan, Egypt, and even Iraq, says BLOM Bank’s chairman and general manager.
Is Lebanon about to become the Middle East’s next oil and gas producer? After years of political deadlock, the government is about to reopen bids for offshore hydrocarbon exploration.
Gulf countries are encouraging local banks to merge and several have done so. In the UAE, National Bank of Abu Dhabi and First Gulf Bank are in the process of creating the largest bank in the Middle East.
The Kingdom of Morocco now allows participative finance. On January 2 the central bank, Bank Al-Maghrib, issued authorizations for five banks to begin commercializing shariah-compliant products and services.
In early 2017 the Commercial Bank of Dubai will launch CBD NOW, the UAE’s first digital-only bank. The new bank is based entirely online and will offer all the services a regular bank does.
After two years of a political vacuum, Lebanon finally elected Michel Aoun president. Under the constitution, however, the head of state has little power, and his election sparks little hope.
According to a recent IMF, World Bank and Arab Monetary Fund report, 40% of Arab banks are experiencing “a significant decline” in the scale of correspondent banking relationships. The report shows 167 terminated accounts in 2015 compared to 71 in ...
Beirut aims to become the number-one hub in the Middle East for young entrepreneurs, so the Lebanese Central Bank recently added $200 million its 2013 promise to guarantee $400 million in investment in the knowledge economy.