Latest news with #financialservices
Zawya
33 minutes ago
- Business
- Zawya
Visa appoints Tareq Muhmood as Regional President for Central and Eastern Europe, Middle East and Africa
Cairo – Visa (NYSE: V) today announced the appointment of Tareq Muhmood as Regional President for Central and Eastern Europe, Middle East and Africa (CEMEA). In his new role, the established Visa leader will be responsible for leading operations across more than 86 innovative and fast-growing markets. Visa's CEMEA operations today serve more than 1,800 clients from 23 local offices across the region. Mr. Muhmood brings more than 30 years of banking and payments experience to the role. He most recently served as head of Value-Added Services for Visa's Europe region, based in London, and originally joined Visa in 2019 as Group Country Manager for Southeast Asia, based in Singapore. Prior to joining Visa, Mr. Muhmood held senior leadership positions with Ahli United Bank, ANZ and HSBC. Mr. Muhmood will be based in Dubai, and will take on the role effective immediately, reporting to Oliver Jenkyn, Group President, Global Markets, Visa. Mr. Muhmood succeeds Andrew Torre, who was recently appointed as President of Visa's Value-Added Services business, which has rapidly grown into a $9B global business and has delivered annualized revenue growth of 20% since 2021. 'We are delighted to appoint a leader with Tareq's deep experience at the intersection of financial services, technology and high growth markets to lead Visa's fastest growing region and continue our journey to advance the future of digital payments across CEMEA,' said Mr. Jenkyn. 'During the course of his career, Tareq has worked in 13 countries, and brings unique global perspective, world-class leadership and a proven track record partnering with Visa's largest clients across diverse, complex and rapidly accelerating markets.' 'It is a great honor to lead the CEMEA region, and to continue the tremendous progress that has been made in transforming the future of payments, commerce and money movement across so many dynamic markets,' said Mr. Muhmood. 'Having spent more than a third of my career in the region, I am excited by the incredible opportunity to further expand digital payments amongst more consumers, merchants and economies. I look forward to working closely with our outstanding team to enable shared growth with clients and partners across the region.' About Visa Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions, and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable, and secure payments network, enabling individuals, businesses, and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement.
Al Arabiya
37 minutes ago
- Business
- Al Arabiya
Britain signs $2.7 bln investment partnership deal with Bahrain
Britain said on Friday that it signed a new partnership with Bahrain that will see 2 billion pounds ($2.69 billion) of investment into financial services, clean energy, manufacturing and technology. 'This 2 billion pounds commitment is yet another major vote of confidence in the UK economy, backing the key growth sectors we've identified in our upcoming modern Industrial Strategy,' business minister Jonathan Reynolds said in a statement. ($1 = 0.7424 pounds)
Reuters
an hour ago
- Business
- Reuters
Britain agrees $2.7 billion investment partnership with Bahrain
LONDON, June 20 (Reuters) - Britain said on Friday that it signed a new partnership with Bahrain that will see 2 billion pounds ($2.69 billion) of investment into financial services, clean energy, manufacturing and technology. "This 2 billion pounds commitment is yet another major vote of confidence in the UK economy, backing the key growth sectors we've identified in our upcoming modern Industrial Strategy," business minister Jonathan Reynolds said in a statement. ($1 = 0.7424 pounds)
Zawya
2 hours ago
- Business
- Zawya
First Abu Dhabi Bank becomes First MENA Bank to join CIPS as direct participant
Abu Dhabi, UAE – First Abu Dhabi Bank (FAB), the UAE's global bank and one of the world's largest and safest financial institutions, has become a Direct Participant (DP) of the Cross-border Interbank Payment System (CIPS), the official cross-border payment infrastructure for Renminbi (RMB). FAB's direct participation in CIPS enhances its ability to provide clients with faster, more secure and efficient cross-border RMB payment solutions, reinforcing its leadership in cash management and clearing across the Middle East and North Africa (MENA) region, as well as its reputation for operational excellence and robust risk management. FAB is currently the only UAE bank operating a fully licensed branch in Mainland China and is committed to supporting the needs of clients and partners in both markets. As the largest bank in the UAE and a cornerstone of the nation's economic, corporate, and financial ecosystem, FAB is uniquely positioned to drive growth and innovation across the China-UAE/GCC corridor. This landmark achievement underscores FAB's leadership in digital transformation and its commitment to advancing the UAE's position as a regional financial hub. Hana Al Rostamani, Group Chief Executive Officer at FAB, said:"With a fully licensed branch in Mainland China, FAB holds a unique position among UAE banks enabling it to lead on the integration of the Renminbi into our existing global banking service offering. Our direct participation in CIPS significantly enhances our ability to provide faster, more secure and efficient RMB payment solutions and deliver real-time settlement capabilities. This development reinforces our leadership in regional cash management and clearing. It also strengthens FAB's role as a trusted financial infrastructure partner for clients transacting between China, the UAE and the broader MENA region. As cross-border transactions accelerate, we remain committed to delivering the infrastructure and innovation that enable financial connectivity at pace." FAB's participation as a Direct Participant of CIPS reflects its vision to remain at the forefront of financial innovation as MENA's leading bank. The bank continues to invest in advanced infrastructure and capabilities to ensure it remains the partner of choice for clients navigating the complexities of international trade and finance. About First Abu Dhabi Bank (FAB) Headquartered in Abu Dhabi with a global footprint across 20 markets, FAB is the finance and trade gateway to the Middle East and North Africa region (MENA). With total assets of AED 1.31 trillion (USD 356 billion) as of March-end 2025, FAB is among the world's largest banking groups. The bank provides financial expertise to its wholesale and retail client franchise across three business units: 1) Investment Banking & Markets, 2) Wholesale Banking, and 3) Personal, Business, Wealth and Privileged Client Banking Group. FAB is listed on the Abu Dhabi Securities Exchange (ADX) and rated Aa3/AA-/AA- by Moody's, S&P, and Fitch, respectively, with a stable outlook. On sustainability, FAB holds an MSCI ESG rating of 'AA', and is also ranked among the top 6% of banks globally by Refinitiv's ESG Scores and ranked the Best diversified bank in MENA by Sustainalytics ESG Risk Rating.
Al Bawaba
3 hours ago
- Business
- Al Bawaba
First Abu Dhabi Bank Becomes First MENA Bank to Join CIPS as Direct Participant, Strengthening Its Regional Cash Management and Clearing Capabilities
First Abu Dhabi Bank (FAB), the UAE's global bank and one of the world's largest and safest financial institutions, has become a Direct Participant (DP) of the Cross-border Interbank Payment System (CIPS), the official cross-border payment infrastructure for Renminbi (RMB).FAB's direct participation in CIPS enhances its ability to provide clients with faster, more secure and efficient cross-border RMB payment solutions, reinforcing its leadership in cash management and clearing across the Middle East and North Africa (MENA) region, as well as its reputation for operational excellence and robust risk is currently the only UAE bank operating a fully licensed branch in Mainland China and is committed to supporting the needs of clients and partners in both the largest bank in the UAE and a cornerstone of the nation's economic, corporate, and financial ecosystem, FAB is uniquely positioned to drive growth and innovation across the China-UAE/GCC corridor. This landmark achievement underscores FAB's leadership in digital transformation and its commitment to advancing the UAE's position as a regional financial Al Rostamani, Group Chief Executive Officer at FAB, said: "With a fully licensed branch in Mainland China, FAB holds a unique position among UAE banks enabling it to lead on the integration of the Renminbi into our existing global banking service offering. Our direct participation in CIPS significantly enhances our ability to provide faster, more secure and efficient RMB payment solutions and deliver real-time settlement capabilities. This development reinforces our leadership in regional cash management and clearing. It also strengthens FAB's role as a trusted financial infrastructure partner for clients transacting between China, the UAE and the broader MENA region. As cross-border transactions accelerate, we remain committed to delivering the infrastructure and innovation that enable financial connectivity at pace." FAB's participation as a Direct Participant of CIPS reflects its vision to remain at the forefront of financial innovation as MENA's leading bank. The bank continues to invest in advanced infrastructure and capabilities to ensure it remains the partner of choice for clients navigating the complexities of international trade and finance. © 2000 - 2025 Al Bawaba ( Signal PressWire is the world's largest independent Middle East PR distribution service.
