AME Info, Abu Dhabi, United Arab Emirates, banking briefs [AME Info, Abu Dhabi, United Arab Emirates]
(AME Info (Abu Dhabi, United Arab Emirates) Via Acquire Media NewsEdge) Aug. 27--AMERICAN EXPRESS, BBK RENEW PARTNERSHIP DEAL: American Express Middle East (AEME) and Bahrain's BBK have renewed and expanded their partnership, which covers American Express bill settlements through BBK's internet retail banking channel and its branch network, Gulf Daily News has reported. According the renewed agreement, mutual clients of the two organisations can now settle their American Express bills in both US dollars and Bahrain dinars online, using BBK's internet retail banking channel. Additionally, all American Express Card members can make card bill payments at any BBK branch or financial mall.
GULF INTERNATIONAL TO LAUNCH REGIONAL RETAIL NETWORK: Bahrain-based Gulf International Bank (GIB) has selected Saudi Arabia as base to launch a regional retail banking network, as part of a GCC-wide expansion plan, Gulf Daily News has reported. "It is part of our strategy to create a universal banking platform which will also include our wholesale banking operations," said GIB's chief financial officer, Stephen Williams. "We are planning to expand our operations and we have already been recruiting to do this," he said.
EGYPT BANKS RESUME NORMAL OPERATIONS: Egypt's central bank has announced that commercial banks will return to normal working hours starting Monday - 8:30am to 2:00pm for clients and until 3:00pm for employees, Ahram has reported. This follows a decision by the country's interim cabinet that the curfew imposed on 14 Egyptian governorates will be enforced from 9pm (instead of 7pm) until 6am with the exception of Friday (7pm - 6am).
SABB TO SELL ISLAMIC BOND TO BOOST CAPITAL: Saudi British Bank (SABB), an affiliate of HSBC Holdings and the kingdom's third-largest listed lender by market value, is aiming to sell a Tier 2 capital-boosting Islamic bond before the end of the year, Reuters has reported, citing two banking sources aware of the matter. HSBC is advising SABB on the potential riyal-denominated transaction, the sources said.
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