The offer from National Commercial Bank (NCB), Saudi Arabia’s largest lender by assets to acquire rival Samba Financial Group is likely to trigger a wave of mergers and acquisitions in the financial services sectors in Saudi Arabia and wider GCC, according to analysts.
The Central Bank of the UAE is introducing a new Overnight Deposit Facility that will allow conventional banks operating in the country to deposit their surplus liquidity at the central bank on an overnight basis.
Canada-based Fairfax Africa Holdings Corporation has reached an agreement to merge with Helios Holdings limited, the Africa-focused private equity firm, to create a truly pan-African investment firm.
The Board of Directors of the African Development Bank has approved a 100.5 million euros loan to the government of Gabon as budget support to mitigate against the effects of the COVID-19 outbreak.
The initiative, which lasts for the remainder of 2020, provides concessionary loans for national companies operating in sectors considered crucial to the UAE economy – such as healthcare, food security and manufacturing.
The International Finance Corporation (IFC), a member of the World Bank Group, has extended a loan of up to $100 million to Egypt’s Commercial International Bank (CIB) to help the bank increase support to clients and companies whose cash flows have been disrupted by the COVID-19 pandemic.
The European Central Bank will offer euro loans against collateral to central bank outside the euro area to backstop funding markets amid the coronavirus pandemic.
In the bid to cushion the impact of the coronavirus pandemic on the economy and businesses, the Central Bank of Nigeria (CBN) introduced N50 billion Targeted Credit Facility (TCF) in March 2020 to support households and Micro, Small and Medium Enterprises (MSMEs) that have been affected by the pandemic.
Eighty-two per cent of the Middle East banking customers are willing to start using FinTech products, but lenders are not yet integrating many of the products on offer into their networks, according to a new survey.
The Central Bank of the UAE and the Abu Dhabi Global Market, the capital’s international financial hub, on Wednesday invited financial technology companies to compete in the annual FinTech Abu Dhabi Innovation Challenge.
FASTA, a digital lending fintech, has partnered with Mastercard to launch FASTACard, South Africa’s first virtual Mastercard credit card. The FASTACard gives South Africans access to instant credit loaded onto a secure digital card that can be used online and in-store.
The value of mobile Inter-scheme transactions rose by 365 percent, year-on-year (YoY) to N853.7 billion in the five months ending May 31st, from N183.7 billion in the corresponding period of 2019.
When dealing with the COVID-19 crisis many people struggle to find the best sources of information. As a contribution to the business community, Infomineo has put together a repository of the best sources of information which we will keep updating during the COVID-19 crisis.
Understand the impact of the crisis on the Saudi Arabian economy through epidemiological Info, impact on expected GDP Growth, HC system capacity, main macro Indicators, and more …
Before the COVID outbreak, Smart Mobility was a topic high in the agenda of governments and the related private sector. Now that the people are moving less and less due to the known safety concerns, is Smart Mobility a priority yet?
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