Bahrain-based Gulf International Bank (GIB) has announced further progress in the implementation of its expansion strategy to position itself as a pan-GCC bank.

GIB said it is now in its final stages of completing the necessary steps to convert its branches into a locally incorporated bank in Saudi Arabia, its largest market.

In May 2017, the bank received approval from"...

BANKS and other financial institutions in Bahrain have been warned of a highly co-ordinated attack being planned on ATMs around the world in the coming days.

The Central Bank of Bahrain, the nation’s financial regulator, has instructed all retail banks, financing companies and other entities in the kingdom to inform customers about the possibility of cyber criminals carrying out a sophisticated scheme using malware to access personal bank"...

Over 1,200 global Islamic banking and finance leaders, industry powerhouses and policy makers will converge for the upcoming 25th edition of the World Islamic Banking Conference (WIBC) set to take place in Bahrain in November.

Held under the patronage of HRH Prince Khalifa Bin Salman Al Khalifa, the Prime Minister of Bahrain and the strategic partnership of the Central Bank of Bahrain (CBB), the event will take place from November 26 to 28 under the theme “Islamic Finance & Sustainable Economic Growth"...

Under the patronage of His Royal Highness Prince Khalifa bin Salman Al Khalifa the Prime Minister and the strategic partnership of the Central Bank of Bahrain, the World Islamic Banking Conference (WIBC) is slated to take place in Bahrain on November 26-28.

Over 1200 global industry powerhouses, policymakers, innovators and stakeholders will converge for the three-day long forum that is spearheading a series of discussions gravitating around the theme of 'Islamic Finance & Sustainable Economic Growth"...

Bank ABC has reported consolidated net profit, attributable to the shareholders of the parent, for the first half of 2018 at $113 million, 11 per cent higher when compared with $102m reported for the same period of the previous year.

Profit before taxation was $119m, 25pc lower compared with $158m in the first half of 2017, and normalises to a positive 6pc growth, after adjusting for effects of foreign currency hedging transactions in Banco ABC"...

NEC Payments has achieved Mastercard principal member status, it was announced yesterday.

A Central Bank of Bahrain-licensed card processor and payment services provider, NEC Payments will now add card issuing capability delivered by Mastercard.

This would enable it to issue Europay, Mastercard, Visa (EMV) chip-and-PIN, contactless, and virtual payment cards to accompany"...

Rating agency Moody’s Investors Service has downgraded four Bahraini banks in line with its recent downgrade of the Government of Bahrain’s issuer rating to B2 from B1 with negative outlook.

In its latest rating action, the rating agency downgraded the long-term local currency deposit ratings of Bank of Bahrain and Kuwait (BBK) to B2 from B1, and National Bank of Bahrain (NBB).

At"...

Al Baraka Banking Group (ABG) has reported that for the first half of 2018, its total operating income increased by one per cent and net income by 8pc when compared with the same period last year.

A statement yesterday said total operating income increased by 1pc to $512 million from $504m, whereas net operating income increased by 1pc to $222m from $219m.

Net income attributable"...

National Bank of Bahrain (NBB) has launched its digital payment and trade finance portal for corporate use.

The bank partnered with Almoayyed International Group, the first commercial client to use this platform.

Ajay Jain, chief financial officer, Almoayyed International Group, says it seeks to enhance digitalisation across the board to increase business value for its"...

Bahrain Association of banks (BAB) is holding its first open dialogue with its members, non-members and partners of the Association on October 8.

This meeting will particularly address mechanisms to enhance the BAB's role as an effective representative for the banking institutions with the Central Bank of Bahrain (CBB) in the context of their common objective of strengthen the leadership of the financial and banking sector in Bahrain as it has been for the past 50 years.

The dialogue will also"...