BANKING

Visa Opens its First Innovation Center in AsiaApril 28, 2016

Visa Inc. (NYSE:V) today announced the opening of its Singapore innovation center, the first in a network of new regional innovation centers that Visa is launching globally. The new 7,000 square foot Singapore facility will serve as a destination for clients, partners and developers, across the region, to work alongside Visa experts and jointly create the next generation of payment and commerce applications.


This"...

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Housing Bank ups pretax profit by 20.1% during first quarter of 2016 April 25, 2016

Pretax profit generated by the Housing Bank for Trade and Finance (HBTF) during the first quarter of 2016 increased by 20.1 per cent to JD50.5 million from JD42.1 million posted the same period of 2015.


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House endorses Central Bank draft lawApril 25, 2016

The Lower House on Sunday passed the amended 2016 Central Bank draft law in a session chaired by House Speaker Atif Tarawneh and attended by Cabinet members.

The bill grants the Central Bank of Jordan (CBJ) the privileges of monitoring and supervising the national payment system, setting the payment, clearing and settlement regulations under its management.

It also subjects financial institutions that carry our activities beyond those set forth by the bill to the CBJ's controls and also enables the CBJ to perform its tasks to enhance monetary and financial stability in the Kingdom.

During...

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Housing Bank to distribute 32% cash dividendsApril 24, 2016

AMMAN — The Housing Bank for Trade and Finance (HBTF) announced on Saturday in a press statement that it will be distributing cash dividends at a rate of 32 per cent as endorsed by the shareholders during an ordinary general assembly meeting. HBTF Chairman Michel Marto said in the statement that HBTF's pretax profit amounted to JD177 million last year, the highest since its establishment in 1973 and 9.2 per cent higher than the JD162.1 million generated during 2014. Net profit after tax stood at JD124.7 million, JD0.8 million higher than the amount at the end of 2014, when profits reached...

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Qatar First Bank (QFB) announces the listing of all its shares on the Qatar Stock Exchange (QSE) on April 27thApril 23, 2016

QFB, a leading Shari’ah-compliant bank based in Qatar offering investment opportunities and innovative financial solutions with local, regional and international reach, announces the imminent listing of the bank’s shares on the QSE on the 27th April 2016; following the approval of the Qatar Financial Markets Authority (QFMA).


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Jordan’s Housing Bank to pay JOD 0.32/shr dividendsApril 23, 2016

The ordinary general meeting of Jordan’s Housing Bank for Trade and Finance has agreed on distributing JOD 0.32 per share as cash dividends for the fiscal year ended 31 December, 2015.


The bank has achieved profits worth JOD 124.7 million ($175 million) in FY15 as compared to JOD 123 million ($174 million) in the previous fiscal year; a growth of 0.64%.


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Qatar First Bank Named Global Finance 2016’s Best Up-And-Coming Islamic Financial Institution Global AwardApril 20, 2016

Reaping the benefits of the strategy it introduced in 2015, Qatar First Bank (QFB), Qatar’s leading Shari’ah compliant bank, has been named exclusively 2016’s ‘Best Up-and-Coming Islamic Financial Institution’ in Global Finance magazine’s ninth annual awards for the World’s Best Islamic Financial Institutions.


QFB won the prestigious"...

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World Bank expects fairly better economic performance in 2016April 14, 2016

The Kingdom’s gross domestic product (GDP) is expected to improve to 3 per cent in 2016, up from 2.4 per cent in 2015, which witnessed the slowest pace in four years, said the World Bank (WB) on Wednesday. The World Bank’s “MENA Economic Report, Spring 2016 issue titled: Reconstruction for Peace in Syria” issued late on Tuesday said GDP growth moderated during 2015 to an estimated 2.4 per cent, the slowest pace in four years, magnifying already-high unemployment. The International Monetary Fund (IMF) put the GDP growth last year at 2.5 per cent. “Security spillovers...

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EIB grants EUR 5 billion for new investment projectsApril 14, 2016

The Board of Directors of the European Investment Bank (EIB) approved EUR 5.1 billion of new loans for 31 projects across Europe and around the world, including Jordan.

EIB statement Wednesday said that the approved loans are expected to be signed in the coming months, noting that the projects will support strategic infrastructure sector in a number of European and Arab countries.

The EIB approved business investment outside Europe"...

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Lebanon’s Eurisko Mobility Announces World's First Virtual Reality Enabled Omnichannel Banking SolutionApril 12, 2016

Omnichannel banking is a breakthrough idea whose time has clearly come. It describes a unified multichannel approach to online banking from any medium like a laptop, smartphone or tablet, to a smart watch, Apple TV or even a Virtual Reality headset. Eurisko Mobility recently announced their initiative to deliver the first official Omnichannel banking solution, combining all these dynamic channels. Virtual banking has finally become a reality.


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