News Centre

Cairo Amman Bank Weekly Economic Monitor

Date 12/10/2014

Click here to download Cairo Amman Bank's Weekly Economic Monitor.

Dubai Financial Market Performance – Q3, 2014

Date 12/10/2014

The Dubai Financial Market General Index increased by 27.9% to 5042.9 points at the end of this quarter compared to 3942.8points at the end of second quarter 2014. At the sectoral level, all nine indexes represented on DFM ended the quarter in the green, with Real Estate and Construction sector increasing the most by 40.5%, followed by the Financial and Investment Services and the Industrial sectors by 31.2%, and 24.3% respectively. The Banking and Services indices up 21.3%, and 16.7% respectively.

DFM Showcases Key Outlines Of “Smart Borse” And Latest Solutions During GITEX 2014

Date 12/10/2014

DFM eye-openers at the exhibition:

• Demo version of the new smart phone application enables users to track stock portfolio and access their investment charts
• New website includes refined Market Watch which provides investors with real time data and “Market Depth”
• Showcasing the features of DFM eIPO platform, successfully utilized during the IPOs of Marka and Emaar Malls 

ADX Partakes In GITEX 2014

Date 12/10/2014

Abu Dhabi Securities Exchange (ADX) is partaking today Sunday the 12th of October in GITEX Technology Week 2014, which is taking place at the Dubai World Trade Centre from October 12th - 16th. ADX is joining other Abu Dhabi government entities to display the latest in IT offerings from the Emirate. Abu Dhabi Systems and Information Centre (ADSIC), the government entity in charge of Abu Dhabi’s ICT agenda, has been charged by the General Secretariat of the Executive Council with hosting the entities on one stand delivering an experience for GITEX visitors that will show the depth and breadth of Abu Dhabi’s digital offering.

FSB Welcomes Industry Initiative To Remove Cross-Border Close-Out Risk

Date 12/10/2014

The Financial Stability Board (FSB) welcomes the announcement today by the International Swaps and Derivatives Association (ISDA) of the agreement of a protocol to the ISDA Master Agreement as an important step to improve the effectiveness of cross-border resolution actions. Under this protocol, counterparties agree to the cross-border enforceability of temporary stays on early termination and cross-default rights in over-the-counter (OTC) bilateral derivatives contracts. As part of this announcement, an initial set of 18 global systemically important banks (G-SIBs) and other large dealer banks have committed to execute the protocol by the time of the Brisbane G20 Summit in November. Once enacted, the protocol will help to reduce the risk that resolution of a bank with significant cross-border operations triggers a cascade of termination events in bilateral OTC derivatives contracts that leads to disruption in the wider market and undermines the measures that the authorities are taking to maintain financial stability and to prevent costs to the taxpayer.

Major Banks Agree To Sign ISDA Resolution Stay Protocol

Date 12/10/2014

The International Swaps and Derivatives Association, Inc. (ISDA) today announced that 18 major global banks (G-18) have agreed to sign a new ISDA Resolution Stay Protocol, which has been developed in coordination with the Financial Stability Board to support cross-border resolution and reduce systemic risk. This represents a major step in strengthening systemic stability and reducing the risk that banks are considered ‘too big to fail’.

Federal Reserve Board And FDIC Welcome ISDA Announcement

Date 12/10/2014

The Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation welcome the announcement today by the International Swaps and Derivatives Association (ISDA) of the agreement of a new resolution stay protocol.

Development Committee Communiqué - Joint Ministerial Committee Of The Boards Of Governors Of The Bank And The Fund On The Transfer Of Real Resources To Developing Countries, Washington, DC October 11, 2014

Date 12/10/2014

1. The Development Committee met today, October 11, 2014, in Washington, D.C.

2. The global economy remains on a cautious watch and is subject to considerable downside risks. Shared prosperity will require inclusive economic growth, job creation, and a sustained multilateral effort to empower the poorest and most vulnerable. We encourage the World Bank Group (WBG) and the International Monetary Fund (IMF) to work together with member countries to implement bold policies to boost growth and to build resilience.

Communiqué Of The Thirtieth Meeting Of The IMFC Chaired By Mr. Tharman Shanmugaratnam, Deputy Prime Minister Of Singapore And Minister For Finance

Date 11/10/2014

The global recovery continues, but is uneven and weaker-than-expected, and downside risks have increased. We are committed to lifting potential growth and to creating a more robust, sustainable, balanced, and job-rich global economy. We will pursue bold and ambitious measures to: invigorate demand and remove supply constraints through appropriate macroeconomic policies and critical structural reforms; place government debt on a sustainable track; safeguard financial stability; reinforce cooperation to manage spillovers; and continue to rebalance global demand. We are deeply concerned about the human and socioeconomic impact of Ebola. We welcome the Managing Director’s Global Policy Agenda.

The IMF Launches Consultations With Its External Advisory Group On Islamic Finance

Date 11/10/2014

The Interdepartmental Working Group on Islamic Finance (IDWGIF) of the International Monetary Fund (IMF) held its first meeting with its External Advisory Group (EAG) on October 9, 2014, in Washington, D.C. to discuss key policy issues in Islamic Finance and development of sukuk market.