Arab Bankers Association

ABA Honours Nemeh Sabbagh for Distinguished Service to Arab Banking

We held our Gala Dinner on 18 October, honouring Nemeh Sabbagh, the CEO of Arab Bank for his Distinguished Service to Arab banking. Our keynote speaker was H.E. Fuad Siniora the former Prime Minister of Lebanon. More than 250 members and friends attended.

ABA welcomes FTI Consulting as new corporate member

FTI Consulting has joined the Arab Bankers Association as a Corporate Member. FTI's main contact with the Association will be Federica Taccogna.

Grant Thornton Briefing on Stress Testing

ABA Corporate Member delivers breakfast seminars in London on a variety of business risk subjects. On 13 November, there was a seminar on Stress Testing. The slides are attached.

Claire Malkhoun appointed to Board of Corporate Member VG

VG, the Jersey-based provider of fiduciary and administration solutions, has appointed Claire Malkoun to its Board. The company has also published another edition of its newsletter, 360.

ABA Welcomes Belleveue Mortlakes as new Corporate Member

The latest firm to join the ABA as a Corporate Member is Belleveue Mortlakes, the London-based property surveyors who are principally involved in property valuation but also manage receiverships and redemptions. The firm works with a core group of about 50 UK and Middle Eastern banks. Shaf Ali will be the firm's key contact with the ABA.

Condolences on the death of David Sambar

The Arab Bankers Association sends its condolences to the family of David Sambar, who died recently after a long illness. David had a distinguished career in Middle East banking and was a fixture of the Arab banking community in London.

ABA welcomes Philip Ross Solicitors as new Corporate Member

The Arab Bankers Association is pleased to welcome Philip Ross Solicitors as a new corporate member. George Constant will be the firm’s key contact with the Association.

Navigating the Regulatory Maze, 2018

Here are photos from our seminar, 'Navigating the Regulatory Maze - 2018' which was held on 15 March. The seminar was sponsored by Grant Thornton UK and Fieldfisher. More information on the seminar is posted on our 'Events' tab, including the slide presentation.

Gatehouse Bank plans expansion into retail finance

Gatehouse Bank has been providing Shari'ah-compliant property finance in London for ten years, and now the bank plans to expand into Shari'ah-compliant retail home financing. Charles Haresnape, the bank's CEO explains the bank's new strategy.

Saudi Budget for 2018 continues the drive for economic reform

The Saudi budget for 2018 projects a deficit of $52bn in 2018, a little less than in 2017, with expenditure due to rise by 6%. The Arab Bankers Association's Editor in Chief, Andrew Cunningham, analyses the Budget Statement and provides some statistical tables.

Members and Friends Celebrate at ABA Christmas Party

More than one hundred ABA members and their friends celebrated at our Christmas party on 13 December. Held at the Malborough Head in London's Mayfair, it was a great way to end the year.

ABA TV – Future of Banking groundbreaking film series

The Arab Bankers Association is working with In Focus Broadcasting to make this groundbreaking new programme for the Arab banking sector to create content and a voice recognising the major themes in the banking the financial services sector in the Arab world and beyond.

Changes to CEOs of Arab banks in London

There have been several recent new appointments at the top of Arab banks in London: Jordan Islamic Bank, National Bank of Abu Dhabi and Ahli United Bank have new CEOs in London.

Riyad Salamé Re-Appointed as Governor of Central Bank of Lebanon

The Lebanese Cabinet has renewed Riyad Salamé's term as Governor of the Banque du Liban - the Lebanese Central Bank - for another six years, from 1 August. Salame was first appointed in 1993.

Citigroup Receives Investment Banking License in Saudi Arabia

Thirteen years after selling its remaining stake in Saudi American Bank, Citibank is to have a physical presence in Saudi Arabia through an investment banking license, granted by the Capital Market Authority.

Correspondent Banking Opportunities for Big GCC Banks

Regional banks in the GCC have the opportunity to offer correspondent banking services to smaller local banks in the Middle East, replacing the large international banks who have been withdrawing from the correspondent banking market. James Daniell, a managing director in Alvarez & Marsal's Dubai office, explains how his firm is helping regional...

Saudi central bank wins award for risk management and compliance

The Saudi Arabian Monetary Authority will be honoured at the Central Banking Awards Ceremony, to be held in London in March, for its work to strengthen internal risk management and compliance.

Annual Gala Dinner Draws Nearly 300 Guests

The ABA Annual Gala Dinner confirmed its position as the premier social event for London's Arab banking community with a sparkling evening at the Jumeirah Carlton Tower on 27 November. HE Saddek El-Kaber received the ABA award for Distinguished Services to Arab Banking and the Keynote Address was given by Tom Tugendhat, MP.

Big turnout for AGM

There was a big turnout for the Association's Annual General Meeting on 26 September. Members approved the annual accounts and received an update on activities, including the launch of the latest Arab Banker magazine. The photo shows Vivien Davies, Company Secretar; Neel Patel, Treasurer; Abdelaziz al-Khereiji, Chairman; and George Kanaan, CEO.

Samba to close branch in London

The Board of Samba Financial Group has announced that it will close its branch in London due to concerns over its long term profitability.

NBAD – FGB merger will create largest Middle Eastern bank

The directors of National Bank of Abu Dhabi and First Gulf Bank have approved plans to merge their two banks. The new bank, which will be called National Bank of Abu Dhabi, will be the largest in the Middle East. Find out more about the transaction and the two banks in the accompanying article.

Middle East banks in London urge more UK sovereign sukuk issuance

The Arab Bankers Association asked a selection of Middle East banks in London for their views on how the British government could build on the success of its June 2014 sovereign sukuk issue - the first sovereign sukuk issued outside the Muslim world. The banks are keen to see more issues, of bigger size and more variable maturities.

UK Companies May Face More Liability for 'Failing to Prevent' Crime

The British Ministry of Justice has announced plans to consider whether to extend the scope of the offence of 'failing to prevent' a crime beyond bribery and tax evasion. ABA Corporate Member Fieldfisher has produced a short briefing note to explain what might happen.

Saudi Arabia's Vision 2030: key points

Deputy Crown Prince Mohammed bin Salman announced the Vision 2030 on 25 April. Read more to see how the Vision is structured and for details of some of its key points. We also have a link to the full English text.

Personal Liability for Senior Bank Managers: the New Rules

The ABA's first corporate member's lunch of 2016 addressed the issue of senior bank managers' personal liability, under the new UK regulations that come into effect in March 2016.

Egyptian and Moroccan Banks Among Biggest in Africa

Figures published by The Banker magazine show that banks in Egypt and Morocco account for about a quarter of the combined Tier 1 capital and assets of Africa banks; and forty two of the largest 100 banks in Africa are based in North Africa. The ABA's Editor has prepared a handy table to summarise the relative size of Africa banking systems.

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 is based outside. Most of us - though not all - 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 a programme of evening seminars on technical subjects such as bank regulation, and though social events such as our annual Gala Dinner and our Ramadan Iftar. Our corporate members also benefit from lunchtime breifings on topics of particularly current interest. You will find more information about our work on the various pages of this website. For example, on the “Events” page you can read about recent seminars and social events, and you can see pictures from them on our "Gallery" page. Our "Members" page lists individual, young professional and corporate members, and enables them to publish short profiles of themsleves. The “Join” page contains a full list of member benefits. Electronic copies our our magazine, Arab Banker, are available on the "Magazine" page.This is an exciting time for Arab banks and their subsidiaries and affiliates in London. Gulf banks are looking to expand their international operations, and banks in Egypt and other north African countries are finding their footing after the uncertainties of the Arab Spring. 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