Africa’s first digital currency launched
by Graham Buck
The Central Bank of Nigeria announced that the eNaira finally made its debut on Monday after missing its original 1 October launch date
Cash & Liq. Mngm in Middle East & Africa
Background
The Middle East Africa region has some of the poorest countries as well as some of the richest. In many countries, the development of the banking infrastructure is underway and basic payment…
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Industry roundup: 15 October
by Jack Large
News in brief: BNY Mellon to cloud, crypto currencies, unlocking Africa, Contour expansion and new FX service
Strong demand for Côte d’Ivoire’s first corporate green bond
by Ben Poole
The oversubscribed local currency issue opens the Francophone West & Central Africa market for green bonds and real estate corporate financing.
Transaction banking breakthroughs in the UAE
by Ben Poole
The central bank has partnered with SWIFT to enhance cross-border payments, while Mashreq Bank has implemented Oracle's transaction banking platform.
African trade finance saw US$5bn in portfolio outflows when COVID hit
by Ben Poole
A report from the African Export-Import Bank and partners notes that despite the outflows, opportunities exist.
Reflections on treasury’s turbulent year
by Ben Poole
At a virtual roundtable, Citi explored how digitisation has helped corporates to manage business disruption in the year of COVID-19.
DIFC and Mashreq Bank launch instant bank account opening
by Ben Poole
The service is enabled by the region’s first KYC blockchain platform.
SWIFT to host open API hackathon in Africa
by Ben Poole
The hackathon is open to developers working in the financial sector across Africa to identify new solutions for cross-border payments.
RAKBANK and Mastercard launch suite of corporate payment solutions
by Ben Poole
The product suite includes a corporate purchase card, corporate executive T&E card and B2B virtual card.
Egypt invests US$600m on becoming intra-African trade hub
by Ben Poole
Central Bank of Egypt agrees to formation of export credit risk company.
Emirates NBD launches smartTRADE portal for trade finance
by Ben Poole
New portal offers enhanced and quicker services for transaction banking clients.
R3 partners with Wethaq to digitise Islamic capital markets
by Ben Poole
The platform will initially aim to improve the issuance and trading of Sukuk securities.
Demica launches SABB’s supply chain finance platform
by Ben Poole
The platform allows the bank to offer payables finance to clients.
Emirates NBD to leverage SAP Financial Services Data Platform
by Ben Poole
Implementation marks second phase of expansion for bank's Enterprise Data Platform initiative in ongoing digital transformation.
Publicis Sapient and Microsoft partner with Anglo-Gulf Trade Bank
by Ben Poole
The two businesses will support the new digital trade bank based in the UAE.
EY and Open Banking Nigeria work on financial services innovation
by Graham Buck
The Big Four accounting group will partner in developing a standardised API interface for open banking in Nigeria
Dubai’s CBD and utility partner on cash management solutions
by Graham Buck
The Commercial Bank of Dubai announced an agreement with the Federal Electricity and Water Authority (Fewa)
Standard Chartered, UAE Exchange partner on cash management services
by Graham Buck
The bank’s corporate clients will be able to deposit cash via the 150+ UAE Exchange branches located across the Emirates
EMEA treasurers expect shift to non-bank services
by Graham Buck
Newer providers of services from payments to FX platforms and liquidity pools are increasingly in demand, a Finastra survey suggests
EMEA treasurers foresee shift to non-bank services
by Graham Buck
The banking sector must accelerate the pace of innovation or risk losing the custom of corporate treasurers, fintech Finastra reports
South Africa to cap maximum cheque value from May 2020
by Graham Buck
Accelerating the drive to digital payments, the maximum value permitted for a cheque reduces from 500,000 rand to just 50,000
Fitch: MMF reform has yet to extend to South Africa
by Graham Buck
Money market fund reform in North America and Europe hasn’t yet reached the country, as South Africa opts for a ‘wait and see’ approach
Standard Chartered and IBM Launch Trade AI Engine
by Graham Buck
The solution, for converting non-digital shipping documents into machine-readable format, is live in Asia, Africa and the Middle East.
BlackRock and HSBC launch Saudi investment funds
by Graham Buck
The two groups, both major asset managers, have launched exchange-traded funds focused on the Gulf state’s larger corporates.