News All GCC stock markets ended 2015 lower than where they started it, in most cases by 14-17%, according to a Market Watch report published on 29 December by SICO, the Bahrain-based investment bank. According to SICO the Year-to-Date change in the indices on 29 December was as follows: Bahrain (BAX) -15.7% Kuwait (KWSE) -14.6% Oman (MSI) -14.4% Qatar (DSMI) -15.4% Saudi Arabia (TASI) -16.8% UAE (DFM) -16.9 UAE (ADSM) -5.1 With the exception of the ADSM, the declines are in line with broader trends in emerging market stock indices during 2015. For example, the MSCI Emerging Market inde...
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 Henry Thompson has left Gatehouse Bank, 18 months after he was appointed as CEO. Subject to regulatory approval, the bank's Chief Investment Officer, Abdul-Aziz al-Duweesh, will take over as CEO. In a statement, the bank said that Henry Thompson will remain at the bank for a period of time to ensure a smooth hand-over. Gatehouse Bank is a Shari'ah-compliant bank headquartered and regulated in the United Kingdom. The bank is primarily involved in real estate investment and development. On 9 December it announced plans to invest a further £100 million in private rented housing across t...
Thu December 10 2015
Thu December 10 2015
UK Senior Managers Regime: What does it mean for you?
Events , ABA Events The ABA's latest technical seminar addressed the new 'Senior Managers Regime' (SMR) being implemented by the UK regulators. The SMR makes senior managers of banks personally responsible for their work and, potentially, personally liable for any failings that they, or those who report to them, make. UK banks, including branches and subsidiaries of overseas banks, must implement the Senior Managers Regime by March 2016. The seminar was sponsored by KPMG and Mishcon de Reya, with Simon Hills, from the British Bankers Association, providing an introduction and moderating the discussion. Gile...
10/12/15 Middle East will Retain Market Share of Oil Exports in Asia, Amid Stiff Competition, says Apicorp
News Middle East countries will be able to retain their share of global oil exports to Asia – currently about 63% – but competition from other regions is increasing, according Apicorp's latest Energy Research Bulletin. Apicorp says that the although global oil trade patterns have been shifting for some years, because the centre of oil consumption growth has been moving to non-OECD countries from OECD countries, the recent sharp falli in US net oil imports has greatly accelerated this trend. Net US imports were 5.2mn b/d in August 2015, compared to 9.7mn b/d in 2010. This fall has be...