News A decree issued by President Sisi of Egypt has confirmed Gamal Negm as Deputy Governor of the Central Bank of Egypt and appointed Lobna Hilal as a new Deputy Governor. Gamal Negm has been with the Central Bank for about ten years, rising through the banking supervision department to become First Deputy Governor in early 2013. Lubna Hilal is also a Central Bank veteran but she resigned in early 2013 and has since led the Egyptian Company for Mortgage Refinance and the Egyptian Federation of Real Estate Finance. Those who know Hilal describe her as softly spoken but extremely competent. Like...
A message from the Chief Executive Officer
Welcome to the Arab Bankers’ Association!
We are an association of bankers and finance professionals who work in Arab financial markets. Most of our members, both corporate and individual, are based in the U.K. but a significant proportion are based outside. Nearly all of us have spent much of our professional lives living and working in the Arab world.
Our aims are simple: to foster improved relations, information sharing and understanding between the private and public sectors in the Arab world and the U.K. We achieve this through our programme of evening seminars and social events, through tailored events for individual members and their clients, and through personal interaction and introductions that are based on decades of business experience.
You will find more information about our work on the various pages of this website. For example, elsewhere on this page you can download a copy of our Annual Magazine; on the “Events” page you can download presentations given at recent evening seminars; and soon we will be adding a new page to our website -- “Arab Banking News” – where you will see a brief round-up of recent events that are relevant to our membership.
The “Join” page also contains a full list of member benefits.
This is an exciting time for Arab banks and their subsidiaries and affiliates in London. Gulf banks are looking to expand their international operations, banks in Egypt and other north African countries are finding their footing after the uncertainties of the Arab Spring, and debt issuance across the region is increasing.
London hosts the largest and most important banking community in Europe, so its not surprising that it is in London that many of the innovative new financial structures that are shaping Arab finance are designed and sold.
The ABA has been serving and promoting Arab banking in London for more than 30 years and we are as enthusiastic and committed to our mission today as we were on the day we were founded. If you are a member, I look forward to working alongside you in the months ahead. If you are not a member, I hope you will consider joining us.
George E. Kanaan Chief Executive Officer
News ARAB BANKER: Are you seeing any changes in economic and financial policy in Saudi Arabia as a result of continuing low oil prices and as a result of the leadership changes that followed the accession of King Salman in January 2015? HUGH MILES: The big change in Saudi economic policy came under King Abdullah in November 2014 when the Kingdom increased oil production in the face of dropping oil prices, rather than decreasing it, as it nearly always had done in the past. Since then the price of oil has fallen more than 40% and the oil market has become saturated, leaving Saudi Arabia with a b...
Thu November 5 2015
Thu November 5 2015
Star-studded turnout for ABA Gala Dinner
Events , ABA Events The Arab Bankers Association's 2015 Gala Dinner was a star-studded affair that included a former Prime Minister, a former Finance Minister and the head of one of the Middle East's biggest banks. More than two hundred and seventy guests attended the dinner, which was held at the Jumeirah Carlton Tower in London's Knightsbridge on 5 November. During the dinner, George Kanaan, the Association's CEO and Abdulaziz Al-Khereiji, the Chairman, presented the Association's Award for Distinguished Service to Arab Banking to Adel El-Labban, the CEO and Managing Director of Bahrain's Ahli United Bank....
News A new report by Apicorp suggests that Iran could increase its oil production by 400,000 b/d by the end of 2016 and at least another 300,000 by the end of 2017. Iranian oil production is currently 2.8 mn b/d. The Apicorp economists identify three sources of increased Iranian oil production in a post-sanctions era: emptying storage, restoring production in old fields and bringing new fields on stream. Emptying storage: If Iran is to pump and export higher volumes it will need to empty the tankers that it has been using to store oil. In mid-2015, Iran had 40 million barrells in such storage,...
Thu December 17 2015
Thu December 17 2015
Events , ABA Events We will be holding our Christmas Party on Thursday 17 December, starting around 5.30 pm. Tickets cost £40 for both members and non members. More details of the the venue, entertainment and other matters will be published here soon. Tickets may be bought from the ABA office (Joumana Karam or Huda Lahiani 020 7659 4889) or through this website.