FinTech will radically improve the financial health of the people of the Gulf through access to next-generation banking services, says Mr. Simon Galpin, Managing Director of Bahrain Economic Development Board. He was speaking at Finnovex ME 2019, a one-day conference on financial innovation and excellence, held in Dubai.

“FinTech holds the strongest potential to impact the ME economy with the potential of open banking to transform the services"...

The governor of the central bank of Sudan (CBOS), Hussein Jangool, announces that there is an expected order to be issued regarding the withdrawal of the old SDG50 banknote from circulation.
The measure is not without reactions, especially on the part of the economists. To begin with, Osman Al Toum, former manager of Al Nilein bank, states that the withdrawal of the SDG 50 banknote, is not without adverse consequences. ‘The withdrawal is very expensive; the state has to pay hugely to realize this aim’....

South Africa’s Absa bank has become the latest multinational corporation to express interest in exploiting the Ethiopian market, following last year’s decision by reformist Prime Minister Abiy Ahmed to liberalise the economy.
Ethiopia has long prevented foreign ownership in economic sectors including banking, but Abiy has embarked on rapid political, diplomatic and economic reforms since coming to power in April.
Absa targets banking reforms
Jason Quinn, the bank’s chief financial officer,"...

The African Development Bank and Sophia University in Japan, have signed a Memorandum of Understanding to promote capacity development within the two institutions for their mutual benefit and the entire African continent.
The agreement was signed Friday at the Bank’s Abidjan headquarters.
“It is our sincere wish that this day will be an opening of bright future possibilities for all of us. We strongly hope our coming together today is not for a mere signing of an agreement, but a step towards shaping"...

Late on Wednesday, the Sudanese President Omar Al-Bashir dismissed Central Bank Governor, Mohamed Khair Al-Zubair, from office only months into his appointment.

According to a statement of the presidency, Al-Bashir appointed Hussein Yahya Jungul as Governor of the Central Bank, without explaining the reasons for his predecessor’s dismissal.

Last September, Al-Bashir"...

Khartoum – US company Verifone has confirmed its seriousness to support opportunities in the field of electronic payment in Sudan, pointing out that there are great job opportunities in it..
Regional Director for Africa and the Middle East said that the company is one of the largest international companies, adding, in a press statement on the sidelines of the forum on promoting financial stability held here recently, that the Sudan has many opportunities in the said field and demand is available and the country"...

The Arab Bank for Economic Development in Africa (BADEA) and Banque Régionale de Marchés (Senegal), signed today, Tuesday, February 26, 2019, at BADEA’s Headquarters in Khartoum, two loan agreements: the first one is a line of credit, which amounts to US $ 10 million to finance private sector projects, and the second one, which amounts to US $ 20 million, is a line of credit to finance Arab Exports to African Importers, as part of BADEA’s program for financing Foreign Trade
The first line of"...

Khartoum – Former Secretary-General of the currency Exchange Companies Union, Abdul Moniem Nuraddin described the recent agreement to reduce the customs dollar from SDG18 to SDG15 as positive.
He stated to Sudan Vision yesterday that the obstacles of 2017 resulted to the increase of the customs dollar a matter that put more burden on the merchants and the consumers, adding the the reduction will have its positive impact on the prices in general.
He disclosed that the effect of the decision will be clear"...

Khartoum: The President of the Employers General Union Saud Al Brieir announced a positive god news for the national private sector and the national economy represented in a number of positive decisions and economic measures adopted by the state that will mobilize and activate the business sector and boost the economy.

He disclosed in a press statement following"...

Cairo: The National Bank of Egypt (NBE) aims to pump LE 180 billion to finance mega and infrastructure projects during three years, Vice Chairman of the bank, Yehia Abul Fotouh said.

Abul Fotouh elaborated that the volume of the projects’ finance portfolio currently reached LE 400 billion, adding that the bank targets to raise the volume to LE 580 billion by the end of 2021.

“NBE"...