The Dubai Stock Exchange has launched an effort to purchase the Nordic/ Baltic market.  This is reminiscent of the issues last year, with the UAE firm trying and being blocked from managing the American ports. Finextra: Borse Dubai launches $4bn bid for OMX Borse Dubai has launched an unsolicited $3.98 billion (SKr27.7bn) bid for OMX, trumping Nasdaq’s offer for the Nordic and Baltic market operator. Shares in OMX were suspended on Friday morning amid frenzied speculation that Borse Dubai was gearing up to launch a formal takeover bid. Borse Dubai – a holding company for the Dubai International Financial Exchange … Continue reading Borse Dubai launches $4bn bid for OMX

As much as we think we have issues with marketing in North America, its not as bad as elsewhere, and indications are that it will only become more irrelevant to follow old methods.  Within the Banking industry there generally remains a resolve to ignore the evolution that is happening, and its useful to watch reactions in other countries as a reminder.  Within the Middle East, particularly UAE, and Saudi Arabia, where internet is relatively newer, there are lessons in watching and listening. Consumers in Saudi Arabia have more devices per household that US, and even India is close, despite being … Continue reading Business

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Some startlingly high statistics from Habib Bank AG Zurich on their online banking in UAE. The market there is interesting to watch, because they got a later start that North America and Europe, but they are generally going straight to what we might consider full multi channel solutions. UAE MONEYworks – Online Banking MW: Do you have any up to date figures on how many people in the UAE are using online banking? Or any form of online financial transaction? SP: What we can tell you is 65.22 per cent of HBZ credit customers and 55.06 per cent of the … Continue reading UAE online banking provides some useful examples

Some startlingly high statistics from Habib Bank AG Zurich on their online banking in UAE.  The market there is interesting to watch, because they got a later start that North America and Europe, but they are generally going straight to what we might consider full multi channel solutions. UAE MONEYworks – Online Banking MW: Do you have any up to date figures on how many people in the UAE are using online banking? Or any form of online financial transaction? SP: What we can tell you is 65.22 per cent of HBZ credit customers and 55.06 per cent of the … Continue reading UAE onlinie banking provides some useful examples

 Interesting perspective that the mainstream Western News has missed.  DUBAI, United Arab Emirates — “Dubai is the most Iranian of cities,” said Mohammed Reza, an Iranian expatriate who has lived in the Gulf emirate across the waters from the Islamic republic since 1998. According to the Iranian consulate in Dubai, at least 400,000 of the UAE’s 4.1 million residents are Iranian. The numbers have almost doubled since 2003. Iran’s status as an international pariah, which has increased since President Mahmoud Ahmadinejad’s election in 2005, has forced many nationals overseas. Source: Dubai becomes Iran’s business hub – Business – Middle East … Continue reading Dubai becomes Iran’s business hub

BankNet 360 – Iran Debuts Online Banking For the first time ever, Iran is offering online banking services. The Post Bank of Iran, based in Tehran, Iran, will offer 24-hour service to its web customers, allowing them to access financial services online as well as make internet purchases accessing funds in their Post Bank accounts. To promote and stimulate e-banking, the service will be open to one million of the best students in Iran. Mohammad Soleimani, Iran’s minister of Information and Communications Technology, said Iran’s fiber optic infrastructure is ready to develop digital communications and electronic banking. A specialized government … Continue reading Iran Debuts Online Banking

Considering the size of Saudi with 17 million population, this is an astounding number of ATM transactions reported at Al Bawaba.com.  In fact, its so astounding I think there must be an error. Canada with 32 million population does 1.1 billion ATM transactions annually, just for perspective.  So Saudi is doing 8 times that much, with half the population! The same report indicates this activity is handled through a mere 5K ATM machines,vs Canada with 50K ATM’s.  ATM’s are relativley new in Saudi, and cash remains the preferred method of payment.  But the industry is enhancing rapidly, with real time … Continue reading Saudi Arabia ATM transactions break records