Banking

May 25, 2017

1

UBA Introduces Faster, Secure Mobile Banking App

United Bank for Africa Plc has announced the launch of a brand new mobile banking application with enhanced speed, advanced security and user friendly features.

The pan African financial institution said the innovative mobile app was developed to demonstrate its commitment to deliver superior and innovative banking solutions to its customers.

The new mobile app which comes"...

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May 23, 2017

2

Algerians have withdrawn DA 2000 billion during since the beginning of 2017

Algerian people have withdrawn about DA 2000 billion from post offices during the first five months of 2017,” Algeria Post’s CEO, Abdel Nasser Sayeh, said on Monday to the National Radio.

Sayeh added that 20 million citizens have a current postal account, and about 7 million and 600 thousand holders of old cash cards, while two million new cards have been"...

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May 20, 2017

3

SoftBank Vision Fund Announces First Major Close

(ME NewsWire)-- The SoftBank Vision Fund (the “Fund”) today announced its first major close with over U.S.$93 billion of committed capital. In addition to SoftBank Group Corp (“SBG”) and the Public Investment Fund of the Kingdom of Saudi Arabia (“PIF”) as previously announced, investors in the Fund also include the Mubadala Investment Company of the United Arab Emirates (“Mubadala”), Apple Inc. (“Apple”), Foxconn Technology"...

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May 18, 2017

4

How Africa's Largest Lender Standard Bank Aims To Shyft Forex

Using international currencies has always been difficult in Africa, where many countries still have strict exchange controls. This is something that Shyft, the foreign exchange app and linked debit card from Africa's largest lender, Standard Bank, aims to solve.

Currently being piloted in South Africa, Shyft is a smartphone forex trading app that allows anyone with a Standard Bank account to buy and store"...

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May 14, 2017

5

East Africa: Kenyattas' CBA Bank in Bid to Acquire Kigali Lender

Commercial Bank of Africa (CBA), which is majority-owned by the Kenyatta family, is in the running to acquire the Rwandese subsidiary of Uganda's Crane Bank in what marks the latest expansion of the wealthy family's empire.

CBA already operates an equivalent of mobile banking service M-Shwari in Rwanda using a microfinance licence.

The Nairobi-based lender is looking"...

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May 13, 2017

6

TSYS Signs Payments Agreement with QIIB 

(ME NewsWire)-- TSYS (NYSE: TSS) announced today that it has signed an agreement with Qatar International Islamic Bank (QIIB) to license PRIME 4, the latest version of TSYS’ future-focused PRIME payment solutions platform.

QIIB is an award-winning Islamic bank that will leverage PRIME as a consolidation platform to manage all of its card issuing and multi-channel acquiring. By migrating to PRIME,"...

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May 11, 2017

7

The Euro Exchanged For 192 Dinars At “Port Said Square” Amid Free Slump of The Dinar

The exchange rate of the Euro, at the informal hard currency market in the “Port Said Square” in the central part of the capital Algiers, reached on Tuesday, 192 dinars for purchase and 191 dinars for sale, a sudden rise that followed the French elections and the coronation of the new President at the Elysée Palace, namely Emmanuel Macron.

The Euro rose as a result against a number of hard currencies, including the Dollar, shortly"...

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May 9, 2017

8

Housing Bank Algeria Selects Infosys Finacle to Power its Operations

The Housing Bank, one of the most respected banks in the Middle East, and Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys (NYSE: INFY), announced the selection of the Finacle suite of solutions to power the bank's operations in Algeria. The bank has chosen to deploy the Finacle core banking, trade finance and internet banking solutions and will also deploy the Finacle Islamic Banking solution for its Shariah banking product. The Finacle"...

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May 4, 2017

9

South Africa Post Office to Commence Banking Services 2018

The South African Post Office (SAPO) will roll-out banking products and services in 2018 as part of government’s efforts to reach the unbanked and low-end market.

The Deputy Minister for Telecommunication and Postal Services, Stella Ndabeni-Abrahams, disclosed this on Tuesday while presenting the Department of Telecommunication and Postal Services’ 2017/18 annual performance plan in Parliament.

“Significant"...

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May 3, 2017

10

Algeria should not borrow money, says expert

Abderrahmane Hadj Nacer, a former governor of the Bank of Algeria, called for discussing foreign debt on the basis of a political angle. “Any nation which has a monetary reserve of $100 billion should not think of borrowing money,” he said on Sunday.

“Borrowing money means that Algeria cannot fund its projects without international partners although it is a rich country,” Hadj Nacer told a Lebanese newspaper.

“Borrowing"...

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