Banking & Finance
-
Saudi Banking: Profits rise as provisioning falls
A year ago, banks in Saudi Arabia vowed to aggressively increase their market share
-
Banking Special Report: Project finance - the search for alternative funding
Despite closing the largest trade finance deal in the world last year, the Middle East’s project finance market is facing difficult times
-
Banking Special Report: The next step for Islamic finance
Welcome signs that the sharia banking sector is entering a new age of maturity
-
Banking Special Report: Provisioning impacts Islamic banks
The flurry of interest from banks keen to open Islamic banking branches in Oman, following a royal decree issued by Sultan Qaboos in May, shows that the sector remains an attractive prospect for many financial institutions
-
Saudi Arabia Banking Special Report: Weak loan growth hits sector
In 2007, people were talking optimistically of the Middle East being shielded from the global banking crisis. Time proved wrong
-
Banking Special Report: Risk aversion hits financial results
Consolidation is the key focus of GCC banks so far in 2011
-
Qatar Banking
The decision by the Qatar Central Bank in February to shut the Islamic windows of the country’s conventional banks has transformed the sharia-compliant banking sector
-
Banking Special Report: Project finance market sees limited recovery
Although last year saw a significant increase in the amount of project finance raised in the Middle East compared with 2009, the market has yet to recover from the impact of the global financial crisis
-
Special Report: Banking - Financial firms shift focus beyond Gulf market
During the past decade, international banks have been racing to expand their presence in the GCC, looking to cash in on a boom in demand for credit
-
Special report: UAE banking - Learning the lessons of the crisis
After the breakneck pace of credit growth during 2003-08, the current cautious attitude to lending among the UAE banks should be seen as positive
-
Special Report: Banking - Bad debts hit Gulf banks
A slowdown in asset growth and increased exposure to non-performing loans hits growth at the GCC Top 20 banks
-
Special Report: Banking - Public sector projects raise hope
The Gulf’s governments are turning to new financing strategies to fund crucial infrastructure projects with public-private partnerships (PPPs) an increasingly popular model in the region
-
Special Report: Banking - State-backed institutions in demand
After years of strong asset growth, the onset of the credit crunch late last year hit Gulf banks hard. Stock markets plummeted and the real estate bubble burst, leaving many investors and customers in trouble.
-
Special Report: UAE - Dubai faces up to economic challenges
Omar bin Sulaiman, governor of the Dubai International Financial Centre and vice-chairman of the Central Bank of the UAE, declared on 13 October that the worst of the region’s financial crisis was over
-
Special Report: Saudi Arabia - Sharia stocks attract indices
Saudi banks have suffered considerably from lending to the Saad Group and Ahmad Hamad Algosaibi & Brothers Company. The troubled local conglomerates are thought to owe more than $15bn to banks, which have been forced to increase their provisions for bad debts this year as a result
-
Special Report: Islamic banking - The top 20 Gulf institutions
Islamic banks may account for only a small proportion of the world banking industry, but these days they are healthier than most of their conventional peers
-
Special Report: Libya - Reforming the economy
Tripoli’s ambitious programme to rebuild and expand power and desalination plants, airports, roads and houses has fallen far short of its goals, with project deadlines missed because of the country’s bureaucracy
-
Special Report: Banking - Gulf institutions move to balance the books
The Gulf’s 20 leading banks have formed a breakaway pack that has maintained its lead over the past 12 months. MEED’s ranking of the top 20 GCC banks by asset size at the end of December 2008 features the same institutions that were on the list in 2007.
-
Special Report: Saudi Arabia - King's reforms gather pace
The decision in May by GCC member states to house the new Monetary Council, a precursor to the GCC central bank, in Riyadh was controversial because of the widespread expectation that Abu Dhabi would be picked. But for Saudi Arabia, the significance of the outcome goes well beyond regional politics; it is a wider recognition that the kingdom’s financial markets are maturing.
-
Special Report: Saudi banking - Profits grow in first quarter
Sovereign bond issues have become a feature of Gulf economies since the financial downturn took hold late last year. But not in Saudi Arabia. Instead of raising more debt, Riyadh has opted to spend past surpluses to boost its economy.
-
Special Report: Bahrain - Vision 2030 plan takes shape
Bahrain’s strong economic position will help it fulfil its ambition of becoming a major shipping hub in the region and maintain its status as a leading financial services centre for the Gulf.
-
Special Report: MEED 100 - The Middle East's top 100 listed companies in 2009
Saudi Arabian companies dominate this year’s MEED 100, with companies listed on the Tadawul accounting for 29 out of the region’s 100 biggest publicly quoted companies ranked by market capitalisation. Just three of the 20 companies that have dropped out of the top 100 over the past year are listed on the Saudi stock exchange.
-
Special Report: Banking - Short-term loans plug finance gap
The project finance market received a systemic shock when the global credit crunch hit in 2008. This year, the number of banks pursuing project finance deals in the Middle East is still at an all-time low. Industry sources say that just eight to 12 banks are seeking deals in the current climate, down from more than 45 two years ago.
-
Special Report: Qatar - Gas exports fuel economic growth
The hotel lobbies and restaurants of Doha are still buzzing with the sound of business meetings, unlike most other cities in the Gulf. “There is no sign of a recession in Doha,” says one visiting banker.
-
Special Report: Sector outlook 2009
MEED looks at what the year holds in store for the key sectors - banking, construction, energy, industry, petrochemicals, power and water and transport - as well as taking an overview of oil, projects and the Mena economy.
-
Special Report: How the credit crunch boosted Riyadh's influence
Even Saudi’s giant economy will suffer a sharp slowdown next year but the prognosis is good and a return to growth is expected by 2010.
-
Special Report: Banking - Private banks beat financial turmoil
Private banking is staging a comeback. The Gulf’s first oil boom in the 1970s prompted the region’s wealthy individuals to put their profits into Europe’s private banks.
-
Special Report: Egypt - Banking sector reforms pay dividends
Egypt’s housing sector offers great potential for investment-hungry mortgage finance companies.
-
Special Report: Banking - The rise of Islamic finance
Since questions were raised earlier this year over the compliance with sharia law of a common form of sukuk (Islamic bond), doomsayers have warned of the impending demise of Islamic finance.
-
Special Report: Banking - Gulf bank growth accelerates
There is consensus in the banking community that 2008 will be a much better year for the industry than 2007. A stormy 2007 revealed the full impact on banks of the 20-month-long market crash that began in February 2006, which triggered severe falls in advisory fees.
-
Special Report: Saudi banking - Results analysis
Saudi Arabia’s banks had a disappointing year in 2007. Although the kingdom’s 11 institutions made $8.1bn in profits in 2007, the figure still represents a 14 per cent fall from $9.4bn in 2006.
-
Special Report: Capital markets - The drive for credibility
The region’s stock exchanges have had great success in making headlines as they have attempted to boost their profile as regional hubs for international capital.
-
Special Report: Banking - Searching for dollars
It is no surprise that international banks dominate MEED’s list of the region’s biggest project finance advisers in 2007.
-
Special report: Sector outlook 2008
The urgent need to install the infrastructure required to support the region’s economic development means government-backed power, water, transport and energy projects will become the principal drivers of the region’s project sector in 2008.
-
Special report: Banking - The impact of the credit squeeze
The importance of effective risk management and strong corporate governance has been clearly demonstrated by the collapse of the US sub-prime mortgage market. The lack of both has plunged international financial institutions into crisis and cost them billions of dollars.
