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About ACM
ACM Advanced Currency Markets SA is a leading Swiss-based online
currency & commodities broker offering individual investors,
banks, brokers and financial institutions the most efficient
execution services in the spot FX and commodity markets. Through
ACM’s proprietary trading software (Advanced Trader), clients
can trade in 50 different currency pairs (included GCC
currencies) and spot gold and spot silver.
Since its inception in 2002, ACM has rapidly grown to become the
second most visited online currency broker (80,000 to 100,000
visitors per day) and a global leader in online currency trading
with volumes exceeding USD 100 billion per month. With ACM’s
rapid growth, the company expanded and opened regional offices
in Dubai (UAE), New York and Montevideo. The success and
tremendous growth of ACM can be attributed to a simple yet
effective business model: to provide a fully transparent yet
competitive trading environment for our clients, coupled with
low margins and simplicity of use.
In 2005, ACM expanded into the Middle East and Asian region and
opened ACM Middle East DMCC in Dubai (located centrally on
Sheikh Zayed Road). The regional office for the ME region serves
clients in the GCC and Levant regions, India, Turkey, Pakistan
and East Asia and provides clients 24/7 customer support, sales
and market analysis in Arabic as well as other languages. ACM is
the only online trading platform to offer fully Islamic
conditions to its clients through Dubai office.
ACM Institutional Markets, ACM’s second subsidiary company in
Dubai, was launched in the Dubai International Financial Center
(DIFC) with a primary focus in developing the ACM White Label
Solution. ACM’s WL solution provides banks and brokers a no
risk, no cost solution that enables these companies to diversify
and expand their existing product line by offering online spot
fx and commodity trading platforms to their existing retail
market space.
ACM
at a Glance
ACM offers four online platforms (available in 15 different
languages):
1. Advanced trader platform based on Java application
2. Advanced WEB trader platform based on HTML simple browser
3. Advanced WAP trader platform for mobiles
4. Flash platform based on flash technology
ACM offer excellent conditions:
• 1-2 Pip spread
• Islamic accounts
• No slippage / re-quotes
• Guaranteed fills in ALL market conditions
• No commissions
• Mini accounts starting from $2,000
• Minimum USD 5,000 to open a standard account, USD 50,000 to
open institutional account
• Up to 100:1 leverage (1% margin)
• Currency denominated accounts in USD, EUR, GBP, CHF & JPY
• Full JAVA or fully web based platforms (no downloading
required)
• Trade Forex & commodities from any location
• Basic & advanced order types
• Selective position liquidation
• Latest encryption technology (SSL security)
• Bank secrecy compliance
• 4 Arabic platforms providing support in Arabic 7 days /
24 hours
• Arabic dealing desk open 24 hours for phone trades
• Market news dispatched twice a day in Arabic
• Physical presence in the Middle East
For further information, please visit our website
www.ac-markets.com
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Ahli United Bank
BSC (AUB) is a fully fledged commercial and investment
banking group providing wealth management, retail,
corporate, treasury, offshore and private banking services
through its operations in Bahrain and its subsidiaries in
the UK and Kuwait and its associate banks in Qatar, Oman,
Iraq and Egypt.
AUB was formed following the merger of United Bank of Kuwait
PLC and Al-Ahli Commercial Bank in 2000. Based in Bahrain,
AUB has strengthened its position in the regional markets
and its strategic prospects by expanding its base of
experienced staff, capital and technical resources. Today
AUB is able to offer a comprehensive range of services to a
wide customer base in the Gulf and beyond and benefit from
diversified sources of risk income and business flows with
Gulf counterparts.
AUB’s stated mission is to create an unrivalled ability to
meet customer needs, provide fulfillment and development for
staff and to deliver outstanding shareholder value. AUB’s
strategy is to expand through both organic growth and
acquisition in order to act as a ‘multifaceted financial
bridge’ between the international financial markets and its
Gulf clients. To this end, AUB continues to develop and
invest to increase its ability to acquire new businesses and
rapidly integrate them with the bank’s systems. This
development has helped accelerate progress in the delivery
of financial services and penetration into targeted
geographical markets.
The business area strategies are geared to achieve stable
and sustainable income growth, operational competitiveness,
a higher quality of service, maximum cost efficiencies and
greater risk assessment capabilities.
Clearly the bank’s strategic direction has yielded excellent
results. AUB has continued, over the past eight years, to
show a solid increase in revenues and assets together with a
substantial reduction in its cost-income ratio. Some of the
highlights of the bank’s performance have been:
• Net profits have grown from US$40.1m in 2000 to US$296.3m
in 2007.
• Total assets have grown from US$3.5bn in 2000 to US$23bn
in 2007.
• Cost-income ratio has improved from 50.2% in 2000 to 35.8%
in 2007.
In 2007, AUB registered strong financial progress with net
profit growing by 42.8% and total assets growing by 10.8%
year on year. This growth was underpinned with very solid
capital adequacy and liquidity ratios. The cost-to-income
ratio also improved due to enhanced revenues and continued
rationalisation of non-essential expenditure. Solid
performance across all the bank’s activities have
contributed to this result and reflect the progress made in
developing business lines despite the competitive market
environment.
The year 2007 was also marked by an increasing external
recognition of AUB’s financial performance and risk profile.
AUB received a long-term investment grade rating of A -
(Stable) from Fitch and S&P and a rating of A (Stable) from
Capital Intelligence. AUB was selected Best Bank for the
year 2007 / 2008 – Middle East by Global Finance. The Bank
was also awarded Best Bank 2007 – Middle East by Euromoney
and Bank of the Year 2006 – Middle East by The Banker. AUB’s
shares are listed on the Bahrain and Kuwait stock exchanges.
In the Bahrain Stock Exchange it is currently one of the
most actively traded stocks and is the largest in terms of
market capitalisation.
Going forward, AUB will continue to pursue new growth
opportunities while remaining focused on strict cost and
risk management, thereby maximising shareholder value.
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Alpen Capital
“where business is an art” is a leading Investment Bank
providing solutions to Institutional and Corporate clients
in the GCC and South Asia from its offices in Dubai, Muscat
and Doha. Set up three years ago, it has a unique business
proposition, where it has successfully integrated the skills
of Investment Banking with the Private Banking offerings of
its associate company, Bank Sarasin-Alpen (ME) Limited.
The Alpen Capital team comprises of experienced, dedicated
and innovative professionals, who create value through
knowledge of local markets and access to key decision
makers. This team has cross-functional, cross-sectoral
expertise, with extensive regional experience and thus has
been a pivotal of its success.
Alpen Capital offers innovative solutions by combining the
disciplines of strategy, organization, leadership and
finance into an integrated approach to help its clients grow
the long-term value of their companies. With local know-how
and regional expertise, Alpen Capital offers a full range of
corporate advisory services including:
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Bank Sarasin –
Alpen
Bank Sarasin-Alpen is a subsidiary of Bank Sarasin & Co. Ltd
a leading Swiss private bank based in Basel, Switzerland.
Bank Sarasin-Alpen was setup at the Dubai International
Financial Centre in 2005. Its objective is to cover private
banking services in the GCC & South Asian markets.
Bank Sarasin - Alpen provides personal, individual and
professional customer care and offers clients high-quality
services based on trust and discretion. Bank Sarasin-Alpen
offers an array of modular services including strategic
investment planning and financial concept development based
on each client’s specific needs and preferences. With local
know-how and regional expertise, its comprehensive range of
products and services, which allows it to customize creative
solutions for each client, include the following:
• Portfolio Management
• Structured Products
• Alternative Investments
• Investment Funds
In 2007, Bank Sarasin - Alpen won the prestigious “Best
Private Bank in the Middle East” by Bankers Middle East. It
also won the “Best Structured Product” award in 2008 by
Bankers Middle East.
Bank Sarasin & Co. Ltd
Founded in 1841, Bank Sarasin is one of Switzerland’s
leading private banking institutions. Bank Sarasin’s core
activities include investment advisory and asset management
services for private and institutional clients, as well as
an investment funds business. The Sarasin Group has
international branches in Europe, Asia and the Middle East.
Rabobank, which enjoys the highest qualification of credit
status [‘AAA’ Rating] from prominent international rating
agencies, is the majority shareholder of Bank Sarasin & Co.
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Al Salam
Bank-Bahrain B.S.C. (ASBB) is proving its leadership
position in the Islamic Banking arena by example through its
innovative products and unique solutions that meet the
diverse and ever increasing needs and demands of its retail,
corporate and institutional customers.
The Bank’s vision to be a dynamic, diversified and
differentiated market-shaper and a leading force in the
Islamic financial services industry is being bolstered day
by day through strategic build up of human capital and state
of the art systems and processes.
Growth and expansion comes at the forefront of ASBB’s Board
of Directors’ agenda strengthening further its vision to
become a market-shaper and a leading force in the global
Islamic financial services industry.
On the other hand, ASBB stays committed to the long-term
growth of the communities in which it operates by sponsoring
a wide range of projects and events.
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A Bank with
heritage and Vision
Arab Banking Corporation (ABC) is a leading international
Arab banking group headquartered in the Kingdom of Bahrain.
ABC operates as a wholesale bank, and is listed on the
Bahrain stock exchange. The major shareholders are Abu Dhabi
Investment Authority, the Central Bank of Libya and Kuwait
Investment Authority. ABC offers a wide range of banking
products including trade finance and forfaiting, project and
structured finance, syndications, corporate and
institutional banking, treasury services, investment
banking, Islamic banking and retail banking in the Arab
world.
ABC has a consolidated asset base as of March 31, 2008 of
US$31.33 billion. The ABC network of branches,
representative offices, subsidiaries and affiliates
stretches around the world, including most principal
international financial centres such as London, Paris,
Milan, Frankfurt, Madrid, Stockholm, Istanbul, New York,
Singapore, Grand Cayman, Sao Paolo, Tripoli, Tunis, Algiers,
Egypt, Bahrain, Beirut, Abu Dhabi, Tehran, Amman and
Baghdad.
In line with ABC’s strategic vision, management has aimed to
position the bank as the “most innovative international Arab
financial group.” The true strength of ABC lies in market
leadership through innovation and leading banking practice.
The international depth and strategic relationships of the
Group within the region allow it to maintain the leading
franchise in its markets. ABC has sought to build its
practice beyond the traditional roles of regional banks and
move into advanced high value-added activities, establishing
itself as a regional leader with international experience.
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Bahrain Financial Harbour (BFH), is a US$ 3 billion
master-planned development aiming to create a complete
financial city, a self-contained community, in the centre of
Manama, the capital of the Kingdom of Bahrain. This landmark
development constitutes prime seafront property covering
380,000 m2, ready to be developed into a diversified range
of office, residential, retail, leisure & dining components.
Bahrain: The Middle East’s premier financial centre
With a reputation of solid financial regulation and an
investor-friendly legal system, Bahrain has stood out as the
Middle East’s leading financial hub for more than 30 years.
The entire completion of BFH will further enhance the
Kingdom’s reputation. Furthermore, this development will be
completed in several phases, and will raise the country’s
profile in international financial circles. Currently, the
Kingdom of Bahrain hosts more than 400 licensed financial
institutions. The Central Bank of Bahrain, the Kingdom’s
central bank and one of the most esteemed financial
regulatory authorities in the region, issues licences to
commercial Banks, offshore banking units, investment banks,
insurance and reinsurance companies and Islamic banks. By
creating a self-contained financial city that also offers
world-class facilities to support a sophisticated lifestyle,
BFH validates the Kingdom’s commitment in providing
state-of-the art infrastructure and services for the
financial sector.
BFH:
A different business focus
When completed, BFH will house the entire value chain of the
financial services sector and its promoters envision it as a
centre of financial excellence on par with global business
centres such as London, New York, Hong Kong and Tokyo. By
establishing the first full-fledged financial district in
Bahrain, their aim is “to empower a technologically
intelligent,, sophisticated business community of reputable
international and regional financial institutions and
business ventures in the Kingdom.”
BFH is also expected to serve as a bridge between the East
and the West by attracting even higher levels of investment
from commercial and investment banks, insurance firms, fund
managers, legal advisory services firms and financial
consultants. Although the Kingdom is open to investments
from both the conventional and Islamic financial sectors,
the latter is of particular interest to Bahrain, given its
status as a world leader in Sharia’a-compliant banking.
Unique composition & prime location
BFH covers 380,000 square metres on a prime, north-facing
section of the Manama corniche, near the historic Bab
Al-Bahrain gateway to the capital. Situated on the Kingdom’s
main island, BFH is conveniently located just 10 minutes
away from Bahrain International Airport and 15 minutes from
the King Fahad Causeway which links the country to Saudi
Arabia.
In addition to being a fully-integrated, master-planned
development and Manama’s first prime seafront property, BFH
also addresses Manama city’s long-standing need for a
focused financial district. Like many other rapidly growing
global economies, there was limited physical space in
Bahrain for the continued growth of its financial
institutions. The resultant congestion led to a scattering
of these institutions and fragmentation of the financial
district. With BFH, this problem has been solved and a
foundation has been laid for a rapid growth of the Kingdom’s
financial sector. BFH also managed to integrate the hitherto
under-utilised Bahraini waters, which had, by and large,
remained hidden from the public as decades of development
had moved the urban centres away from the shoreline.
The major projects within the development are the Financial
Centre, Commercial West, Commercial East, Harbour Row, Hotel
Resort, Residential South, Diamond Tower, Residential North
and Dhow Harbour. These projects comprise a total of 28
parcels, collectively offering over 1.635 million square
metres of total built-up area.
Phase I of the project ‘The Financial Centre’ which includes
the Harbour Towers - Bahrain’s tallest towers and the
Harbour Mall is operational and open for business.
Being a “completely connected set-up” BFH is designed to
offer a financial sector focused world-class integrated
master-planned development. It is the first development of
its kind in the Middle East to uniquely combine the
business, leisure and residential components under one
canopy. By evolving a highly-focused, committed and advanced
financial environment, it is and will continue to attract
inward investment to Bahrain.
BFH offers prospective tenants and investors, including GCC
nationals and expatriates, both freehold and leasehold
ownership structures.
On the technology front, the financial sector is one of the
most competition intensive sectors, and the importance of
data security and confidentiality is one of the foremost
criterion of risk management while also playing a key role
in the decision-making process for the location of a firm’s
headquarters and its key R&D facilities. The fully-converged
Information Communication Technology (ICT) systems within
BFH have been specifically customized to meet the
requirements of potential customers - whether local or
international.
Without doubt, Bahrain’s economy is well-positioned to
further benefit from the BFH project. Investments in the
project are expected to boost the financial services
sector’s contribution to the overall GDP, in addition to its
significant contribution already in the creation of new
employment opportunities and increased Foreign Direct
Investment inflows.
The development has, since its launch, received excellent
local, regional and global response, and even been termed
the ‘Canary Wharf’’ of the Middle East. It has truly come to
represent the face of the new emerging Bahrain.
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Since its launch in
September 2002, Dubai Bank has challenged traditional banking
practices by placing service, transparency and convenience at the
forefront of its operations and introducing unique products and
services to the market. By bringing a breath of fresh air to the
UAE’s financial sector, Dubai Bank has firmly positioned itself as a
catalyst for change.
On January 1, 2007, the Bank became a Shari’a compliant financial
institution. In addition, all of the Bank’s business activities are
being carried out in a manner that ensures compliance with the
standards of ethical banking that are currently followed by a number
of banks around the globe.
With a new, innovative range of Shari’a compliant products and
services delivered with dynamism and excellence in service and
quality, Dubai Bank aims to establish itself as a pioneer in the
UAE’s Islamic banking sector and as an icon of Dubai’s success.
Dubai Bank’s keen focus on customer needs and on building
long-lasting relationships with its customers will continue to be
the drivers of the Bank’s success and growth. Its new Shari’a
compliant products and services cater to the needs of its retail,
corporate and investment banking customers and include transaction
and deposit accounts, personal finance, trade finance, corporate
finance and capital market services, as well as a host of other
unique banking services.
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Dubai Islamic Bank (DIB),
established in 1975, is the first Islamic bank to have incorporated
the principles of Islam in all its practices. DIB is a public joint
stock company and its share is quoted on the Dubai Financial Market.
The bank enjoys a reputation as a leader and innovator in
maintaining the quality, flexibility and accessibility of its
products and services. In a very short space of time it has created
market leading services and products that are setting benchmarks for
the rest of the sector.
The bank reported AED 2.51 billion in net profit for the year ending
December 31, 2007, rising by 61 per cent compared to AED 1.56
billion for 2006. The bank recorded a total revenue of AED 7 billion
for 2007, rising by 46 per cent compared to AED 4.8 billion for
2006. Total assets in 2007 reached AED 84.3 billion, an increase of
31 per cent compared to AED 64.4 billion in 2006.
DIB set a world record by raising a US$3.52 billion sukuk for the
Nakheel Group. This sukuk adopted a structure never used before in
Islamic or conventional banking history.
The bank has been proactive in creating partnerships and alliances
at both the local and international level. DIB has adopted an
aggressive expansion strategy, which started with the establishment
of DIB Pakistan Limited, a wholly owned subsidiary of DIB. DIB
opened its first representative office in Turkey to enhance its
access to that market. DIB has also acquired stakes in Al Khartoum
Bank and Emirates and Sudan Bank (ESB). These steps mark DIB’s
ambitious plans to roll out its operations into regional and
international markets as part of its overall strategic plan.
DIB has won the respect of its peers around the world with awards
such as the prestigious “Bank of the Year - UAE” award by UK based
Banker magazine and accolades from Euromoney. DIB has also been
named the world’s “Best Islamic Retail Bank” by NY based Global
Finance magazine for 2008. Additionally, Dubai Islamic Bank has been
named a “Superbrand” for the year 2007-2008 by the an eminent
international governing council. DIB has also garnered the attention
of international credit rating firms receiving top ratings from
Standard & Poor’s and Moodys agencies.
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Easy ride at Islamic
banks?
If
you fancy a safe bet this year, move into Islamic finance – business
is booming and experience of the sector isn’t essential.
Islamic banks in the GCC have emerged virtually unscathed from
the US sub-prime crisis. It helps that collateralised debt
obligations, high risk mortgages, and other unfathomably complex
investment vehicles are incompatible with Sharia law. Plus business
is booming.
“Many of these conventional products that have been under stress
lately are very complex and need special risk management tools,”
Rasheed al-Maraj, governor of the Central Bank of Bahrain, said at
the Reuters Islamic Finance Summit last week.
“In Islamic banking, you will not have this kind of thing. Some of
these products would not be Sharia compliant.”
HSBC’s global Islamic financial services arm, HSBC Amanah, told
Reuters that it expects revenues in the sector to grow by at least
60% over the next few years, driven by demand from Saudi Arabia and
Malaysia.
At the same time, Dubai is doing its best to come out on top in the
rush to pile into Islamic finance. The Dubai International Finance
Centre (DIFC) has unveiled plans to create an Islamic finance hub,
to take advantage of the “demography and geography” of the region,
according to Nasser Al Shaali, CEO of the DIFC.
Both international and Islamic banks are making moves to hire
bankers. And the good news is, you don’t have to be a sukuk supremo
to work in the area, as most products are vetted by an in-house
Sharia scholar or committee.
Alex Cormack, director Middle East, at recruiters Sheffield Haworth,
says: “What Islamic banks look for are bankers who know how to
originate business and run deals, and Western markets are tapped for
this. It’s the Western or top-tier investment banks that have to
hire in the Islamic banking expertise.”
Russell Adams, managing director of recruiter Akamai in Dubai, adds:
“Islamic institutions are looking for people for investment banking,
debt financing and asset management roles. They want people with
exposure to developed markets who can then tailor their products
within the Islamic wrapper.”
What about pay? Cormack reckons Islamic banks generally try to match
previous packages from Western institutions, but the real money is
to be had when individuals gain a track record and reputation within
the Islamic finance sphere.
What’s more, Deutsche Bank has tipped hedge funds that comply with
Muslim law to take off in the latter part of 2008, thanks to demand
from ultra high-net-worth individuals.
Globally, assets of Islamic financial institutions are estimated at
$500bn.
This article was compiled by eFinancialCareers Gulf
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Global Banking
Corporation B.S.C. (c) (GBCORP), one of the region’s newest
Shari’a-compliant investment banks, started operations in
Bahrain in June 2007 with an issued capital of USD250
million and authorized capital of USD500 million. The bank
seeks to provide investors and clients with the ability to
diversify their investment opportunities - a significant
competitive advantage - and the means to source and execute
transactions not only in the GCC but in the Middle East and
North Africa (MENA), Europe and South Asia.
GBCORP is setting the pace in building an institution,
having recently completed the formation of its
organisational and administrative structure. GBCORP will
soon be moving to its new headquarters at the GBCORP Tower
in the Bahrain Financial Harbour business district.
GBCORP is well on track to launch global operations from its
new high-profile headquarters and establish strategic
investment bridges between the Middle East, Europe and South
Asia. GBCORP will operate as an Islamic investment bank
throughout the GCC, MENA, Europe and South Asia and will
grow its business through strategic alliances in these
markets.
A number of Gulf institutions have contributed to the bank’s
initial capital and the next strategic step is to determine
potential partners in Asia and Europe. GBCORP has ambitious
plans to expand geographically as it taps into the estimated
$500 billion worldwide market for Shari’a-compliant finance.
As part of the business strategy, GBCORP is positioning
itself as an investment bridge providing clients with value
added products and services in different fields. GBCORP’s
strategic initiative is to build a diverse portfolio of
investments, characterized by its ability to execute deals
not only in the GCC but across MENA, Europe and South Asia.
Key targets for growth include governments, private and
public sector enterprises, business and financial
institutions, pension funds, family groups and high
net-worth individuals. The bank will leverage from the
strong GCC economies as a springboard for expansion into
Asia, North Africa and Europe.
GBCORP pursues a dynamic business model primarily focusing
on the core Investment Banking Division in the first phase.
This core area will include specialised departments covering
corporate finance, real estate and infrastructure
development, private equity, energy, structure finance and
venture capital, fund management, asset and wealth
management and investment placement, and advisory services.
GBCORP’s vision is to be the leading investment bank in the
GCC with global reach and the ability to merge international
investment excellence with local expertise and a commitment
to deliver consistent returns to shareholders and investors
alike.
Global Banking Corporation B.S.C. (c)
PO Box 1486, Manama, Kingdom of Bahrain
Tel: +973 17540044 / +973 17566877
Fax: +973 17540005 / +973 17566878
www.gbcorponline.com
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LOGO Business Solutions is
a global player in the Business Application Solutions Market. As a
pioneer in developing and implementing software technologies, LOGO
has received many industry awards and prizes, including an
“Innovative Open Architecture Solution Award” from IBM, in 2005.
Targeting mainly small, medium and enterprise size businesses, LOGO
offers a multitude of integrated Business Application packages to a
diverse customer base operating in several different industries. The
company’s products currently serve over 1,000,000 users in 150,000
companies cover 30 countries and 7 languages. LOGO has regional
offices in Turkey, Germany- Frankfurt and UAE-Dubai and business
partners throughout the globe.
During the recent years, LOGO has invested significantly in
e-Business technologies and Service Oriented Architectures (SOA)
with the aim of carrying its customers to the 21st Century’s
collaborative business environment. Matching superior technology and
product quality with friendly LOGO is the Certified Solution Partner
of both Microsoft and Oracle. LOGO is also one of the 40 strategic
business partners of IBM within the EMEA region
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As one of Europe’s
prominent provider of multi-channel financial transaction
and security solutions, IND Group delivers products and
services that help accelerate business innovation especially
for banks and financial institutions.
Due to its unique philosophy for “The Banking Front-Office
Technology”, IND Group is accounted as a leading innovator
in Europe. We leverage our experience to deliver a
comprehensive range of solutions that empowers front-office
operations. As a Central European based company we have the
advantage to offer very competitive products and solutions
in prices matched with a high level of expertise and
quality.
With integrated approach IND Banking Front-Office
architecture as a component-base solution enables our
clients to harmonize their unique front-office banking. As
the application covers branch, internet, mobile and
call-center banking on the same platform, time of
application, disbursement and queuing can significantly be
reduced. IND state-of-the-art solutions foster cross- and
up-selling, help to attract new segments and retain high
value customers via providing seamless and reliable
services. By implementing and using our products and
solutions, customers can reduce costs, improve performance
and gain the ability to respond to the changing market
expectations.
Our key products:
• IND Financial Portal is a flexible and easy-to-use
publishing system which comprises useful functions for
e-marketing and e-sales as well.
• IND Internet Banking is an award winning browser-based
self-service solution which provides industry-wide
functionality from the basic banking services to
sophisticated online sales offers.
• IND Internet Brokerage is a browser-based application for
retail banking customers to manage their normal investments,
like shares, bonds and securities.
• IND iMobile Banking is an attractive, highly secure,
mobile browser based self-service solution for smartphone
and DA users.
• IND Contact Centre Banking covers a complete, 360 view of
the customer (with all available data) and integrates all
banking functionality in one screen
Since topping the Deloitte Fast 50 ranking of
quickest-growing Central European firms, IND Group has
continued it expansion strategy towards the Middle East
region. The company’s highly innovative solutions introduced
at several high prestigious banking technology events such
as MEFTEC, MEFX and FST Summit had already received steady
positive feedback from the market. IND Group has already
gained precious customers and partners across the Middle
East and implemented a number of successful projects.
Besides, IND Group is going to set up an office in Bahrain
to extend its successful business partnerships in the
region.
For more information, please contact us at:
http://www.indgroup.eu
e-mail: info@indgroup.eu
IND Group
Austria Germany
Hungary Italy
Spain United-Kingdom
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Mawarid Finance is
a private joint stock company established in Dubai, UAE,
towards the end of 2006 with a paid-up capital of one
billion dirhams. The company strives to introduce a new
vision within the Islamic finance sector to both retail and
corporate customers in the region.
Within its first year of operations, the company achieved
significant profits and returns for shareholders.
Shareholders’ equity rose to Dhs 1.095 billion at the end of
2007, a 9.5 per cent increase on the original value of the
shares. The company’s total assets increased by 13.6 per
cent to reach Dhs 1.136 billion at the end of 2007, which
shows the consistent development of the company in enhancing
its financial position and building its services and
operations.
The commendable performance was reflected in an increase in
revenues from Dh 37.7 million in 2006 to Dh 57.4 million in
2007. The revenues were generated from investment
opportunities and financing operations. In the area of
investment, the company’s portfolio covered direct and
indirect exposures in the developing sectors in the UAE
economy, as well as participation in the economies within
the MENA region.
Mawarid Finance prides itself on being the only finance
company in the UAE that is completely independent. The
company’s shares are distributed across more than 350
shareholders, with companies or organisations owning not
more than 5 per cent each of the capital and no individual
shareholder’s stake exceeding 2.5 per cent, giving the
company the operational freedom to secure a leading position
in the Islamic banking market in the UAE.
Mawarid Finance specialises in the competitive development
of Sharia’a compliant financial services, focusing on rapid
growth through outstanding customer service.
Mawarid Finance is structured as an integrated financial
institution that specialises in providing all services
related to finance and business, responsive to the rapid
growth taking place in Dubai and modelled on the spectacular
development of Dubai and the UAE as a whole.
Mawarid draws its strength from a solid vision for the
future articulated by a team of leading international and
local industry professionals. They drive the company’s
ambitious growth strategy in operations, sales and
marketing, and communications, using their exceptional
capabilities to accurately implement corporate plans.
The company maintains a close-knit network of strategic
partners and business associates, and the financial backing
and support of well-established shareholders.
In March 2008, it announced an agreement with Universal
Payment Services (UPS) - Kuwait to develop an online
murabaha service, “E- Murabaha”. E-Murabaha is the first of
its kind in the world and it provides online financing
facilities, especially for SME clients.
Mawarid’s mission is to create superior and exceptionally
innovative Sharia’a- compliant products and services,
sustaining high-quality performance and maximising market
share to become the first choice provider of Islamic
financial solutions in a modern business environment.
For further information, please visit the company’s website
www.mawarid.ae or contact the customer service team on 800
MAWARID, a toll-free number for customers in the UAE, or
+971 4 304 0888 for customers outside the UAE.
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Network
International LLC, the preferred card solutions provider
located in United Arab Emirates, is the first independent
vendor certified by both Visa & MasterCard for card payments
in the Middle East. It is the only third party processing
vendor in the region which is capable of providing banks,
the retail industry and financial institutions with complete
EMV certified solutions as they migrate to EMV SmartCard
technology.
Established in 1994, Network International LLC is today one
of the leading credit card and payment services providers in
the Gulf and Middle East Region geared to meet the needs of
Banks, Financial institutions, and large and individual
retailers.
The company is a Principal Member of Visa International and
MasterCard International offering customers the most
comprehensive range of products and services in both the
Issuing and Acquiring segment of the card industry, in the
Gulf and Middle East region and beyond.
Consumer Finance:
With the rapid growth in the consumer finance market in the
region, Network International, identified an opportunity to
provide third part product processing services to banks
entering the market or looking to upgrade their existing
platforms.
Network International is working with Nucleus Software to
provide its clients with car loans, personal loans and
mortgage loans processing services. These new offerings –
together with Nucleus’ state of the art originations and
collections modules which Network International also
provides to clients– represent an exceptionally powerful
service proposition and one which NI anticipates will add
significantly to its growth over the coming year.
Services
In addition to the processing and management services
offered, Network also provides Consultancy services ranging
form Planning and designing, to developing of new products
and services.
To date Network International provides credit and debit card
processing services, ATM sharing and ATM management services
to more than 29 Banks in the region and manages one of the
most extensive ATM networks exceeding 130 ATMs.
Network has a complete Disaster Recovery Solution. The
company has the complete card management system replicated
at an alternate site which ensures uninterrupted service to
customers and assures a high level of service at all times.
Contactless
Network International is providing contactless card
processing using the MasterCard® PayPass™ platform. The
contactless technology represents a quantum shift in the way
retail transactions will be carried out in the future and
offers several significant advantages for both merchants and
consumers.
As a leader in the regional card processing industry, the
task of bringing this technology to the Middle East
naturally devolved on Network International’.
In order to ensure the highest levels of payment security -
an integral feature of the contactless technology - Network
International undertook several audits over a period of
months to ensure compliance to global norms.
YOUR GATEWAY TO FINANCIAL MARKET
NTWO Capital
Market is an investment intermediary whose principal
activity is trading Forex and Indices in the International
Financial Markets. Our primary function involves offering
clients the best conditions for trading, using various
financial instruments in combination with quick and honest
service.
NTWO Capital Market as a world-leading investment company,
providing real-time currency trading software to it’s
traders, & allows dealing and comprehensive services for
retail and institutional foreign exchange traders. Serving a
global customer-base through the N2trader 4 trading platform
and 24-hour dealing operations, we pride ourselves on
adhering to the highest levels of customer service and
integrity in the forex trading industry.
Among other essential financial and forex services, NTWO
Capital Market offers its currency traders pricing for most
of the currency pairs, analytical services from forex
industry experts, up-to-the-minute foreign exchange and
market-moving news bundled within a completely customizable
software package called N2trader 4. From advanced forex
charting to intricate tools that allow you to build your own
technical indicators (templates & profiles) for the forex
market, N2trader 4 is one of the best forex trading
platforms designed to serve beginners and professional Forex
Traders. Our philosophy is based on the goal of making our
services as accessible as Forex itself – easy to use for new
traders, and easy to adapt to for those who have already
traded other instruments.
Some of the unique features of N2 Capital Markets are as
follows:
- Commission free spot trading
- Commence trading with just $2000
- 24 hours customer support
- No monthly fees
- Nil startup cost
- High safety & security of funds
- Leverage from 20:1 to 200:1
- Limited risk & no negative balance
- Guaranteed fills on stop loss and limit orders
- Fixed dealing spreads under all market conditions
- Up to the minute forex/commodities news
- Time zones & economic data
- Real time account updates
- Margin & trading history
- Education about complete forex trading
For more information Log on to
www.n2cm.com
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United Bank Ltd., an
International bank is privileged to be the second foreign bank to
open its branch in Abu Dhabi in July 1967.
UBL was privatized in October 2002 and is majority owned by a
consortium of Abu Dhabi Group and Bestway Group of UK. His
Excellency Shaikh Nahayan Mabarak Al Nahayan, Minister of Higher
Education, Government of UAE, is the Chairman and Sir Mohammed Anwar
Pervez OBE is the Vice Chairman of the bank.
UBL has over four decades of good standing to its valued clients.
UBL’s international network of over 1000 branches, representative
offices, subsidiaries and associate companies spreads across UAE,
Bahrain, Qatar, Yemen, Oman, Iran, USA, UK, China, Kazakhstan,
Switzerland and Pakistan.
In line with our strategic focus to become a preferred Corporate and
Retail Bank across the Middle East, the bank recently concluded its
first phase of re-profiling and repositioning exercise. During this
initial phase the bank invested heavily in premises, infrastructure
and IT related enhancements, and rationalized its product offering
and services in line with customer requirements across markets.
Also as part of the first phase the bank has set-up services
centers, banking kiosks and installed multifunction ATMs at
prominent locations across the network. All of these initiatives
have been welcomed positively by our customers and have helped in
boosting customer satisfaction.
On the people front the bank has been investing heavily and will
continue to invest in training and development activities. Mainly on
the localization front, we remain committed and will continue with
our endeavor to inject experienced and fresh local talent, and to
ensure that they grow with the organization, across the Middle East
network.
In relation to enhancing service quality, the bank underwent a major
process re-engineering, mapping and documentation exercise across
the network, which focused on eliminating waste, realigning,
automating and centralizing processes and functions. Service
delivery standards have been enhanced significantly as an outcome of
this effort. We continue to remain focused on outsourcing of
non-core activities and functions to allow for more focus on core
banking and service activities.
Alongside the Branches and Service centers, Phone Banking and
Complaint management functions continue to play a pivotal role in
delivering high quality service and support to customers.
The bank has been actively pursuing a Corporate Social
Responsibility program and has participated in, sponsored and
organized various sporting and other community events, in
association with government departments, NGOs and other
institutions, across the network.
In our journey to excellence, we will continue to maintain focus on
feedback collected through our Voice of Customer, Voice of Employee
and Voice of Process programs, based on which we will strive to
enhance performance of the existing and plan for new initiatives.
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When you think money
transfer, think Western Union
With a rich history of over 150 years in connecting people when it
matters the most, Western Union continues to shape our world today.
From expatriates and migrant workers sending remittances to their
families back home, to tourists receiving money when in need,
Western Union has touched the hearts of millions by making the money
transfer process fast, reliable and convenient.
Today, Western Union is one of the largest companies in the money
transfer industry. Western Union, along with its affiliates Orlandi
Valuta and Vigo are leaders in global money transfer, providing
people with quick and secure ways to send money across the globe.
Western Union has one of the largest agent networks in the world
with over 310,000 Agent locations in more than 200 countries and
territories world wide.
In the United Arab Emirates, the Western Union Money Transfer
service is available in over 400 Agent locations operating through
established financial institutions such as Al Ansari Exchange, Al
Fuad Exchange, Al Ghurair Exchange, Al Razouki International
Exchange, Alukkas Exchange, Emirates India International Exchange,
Emirates Post, Habib Exchange, Lari Exchange, National Exchange,
Orient Exchange, Travelex Emirates, UAE Exchange, Wall Street
Exchange, and Redha Al Ansari Exchange.
In its commitment to better serve its customers in the United Arab
Emirates, Western Union offers special rates for money transfers to
South Asia, Southeast Asia, The Middle East and Africa.
Today, customers can transfer amounts up to AED 8,500 to India for
just AED 15* For other South Asian countries such as Pakistan, Sri
Lanka, Nepal, and Bangladesh, fees start from AED 25* for money
transfer amounts up to AED 11,000.
Money transfers to the Philippines for amounts up to AED3,500 cost
AED 35* For customers sending to Africa, Western Union offers
reduced fees to Ethiopia, Morocco and Sudan starting from AED 35*
for amounts up to AED 3,670. Additionally, rates for transfers to
Egypt, Lebanon, Iraq, Jordan, Syria and Palestine start from AED 35*
for the transfer amounts up to AED 3,670.
Money transferred via Western Union, is available for pick-up at
Agent locations within minutes**, subject to the location’s hours of
operation. In addition, recipients do not require a bank account or
any form of membership and the transfer process is secured using
state of the art technology, backed by a 24-hour, 7-days-a-week
agent support system. Over and above this, customers enjoy a host of
benefits such as phone time and discount on future transactions
offered through the Western Union® Gold Card loyalty program.
To learn more about the Western Union® Money Transfer Service or to
enquire about the Western Union loyalty programme – the Western
Union® Gold Card, please visit a Western Union Agent location near
you or call Toll Free in the UAE at 800 4851. For more information,
visit www.westernunion.com.
*In addition to the transfer fee, Western Union also makes money
when it changes your money into foreign currency.
**Funds generally available in minutes subject to terms and
conditions of service, including Agent location hours and
differences in time zones. See Send Form for restrictions.
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DIRECTORY
OF ARAB BANKS & FINANCIAL INSTITUTIONS |
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