IslamicFinance.de

Job Purpose
• To assist the Relationship Team in achieving the assigned financial goals, in maintaining and managing a portfolio consisting of borrowing and non-borrowing relationship, resolving day to day issues and ensuring that relationship managers' in operational

Job Purpose
· Apply database technology and database analytic skills to support CVI lift through:
o Development and enhancement of marketing friendly customer and prospect databases through specialized knowledge and skills of database technology and platforms.
o Insightful database analysis of customer information for profitable cross-sell, up-sell and deep-sell and retention marketing.
· Provide data for database marketing campaign effectiveness and learning.
· Provide data to deepen customer and prospect knowledge.
· Facilitate and enable business managers to understand product ownership

Job Purpose
· To manage and enhance the existing commercial portfolio of Emerging Corporate customers and solicit acceptable new Emerging Corporate relationships in order to meet the pre-set financial / non-financial objectives with necessary assistance from ARM/CSO.

• The Network Engineer shall deal with the day-to-day Tasks & requirements regarding Networks, receiving the requests from the IT Manager.
• Responsible for installing, maintaining and supporting computer communication networks within an organization or between organizations.
• And to ensure the smooth operation of communication networks in order to provide maximum performance and availability for the endpoints & users, such as staff, clients, customers and suppliers.

• To provide Transaction banking and trade services to Corporate, SME and Mashreq Gold segments.
Key Result Areas
• Ensuring account planning for entire Corporate and SME portfolios to support maximum cross sell penetration.
The incumbent is responsible for assisting in the Sales, development, implementation, rollout, marketing and maintenance of global transaction services, including but not limited to

A new index will track the number of women on the boards of publicly listed companies across the region. The Arabian Gulf chapter of Women Corporate Directors will partner with the Dubai-based Hawkamah Institute for Corporate Governance to produce the measure. The index will help to identify organisations committed to promoting women to top executive and boardroom positions as well as gaps in corporate representation. Currently, only 1.5 per cent of board seats in the GCC are held by women. In December, Sheikh Mohammed bin Rashid, had announced that it would become compulsory for every government company in the UAE to have a female board member.

The Saudi Basic Industries Corporation (SABIC) sponsored the GCC Board Directors Institute (BDI) workshop on Corporate Governance and Board Effectiveness Practices in Riyadh from February 25 to 27. The overall goal of BDI is to support better corporate governance, primarily through building board member capabilities. The workshop brought together senior directors from leading corporate entities and institutions in the region to share knowledge, experiences and best corporate practices.

Economists, financiers, bankers and business owners met late last week to debate the state of small and medium-sized enterprises (SMEs) in the GCC region, and considered various alternative models for financing SMEs in light of the need for cheaper and more available growth capital. The roundtable examined the importance of SMEs to the economy and considered new opportunities for funding to help these businesses grow. However, for banks, the cost to serve SME clients remains high due mainly to the breadth of risk and experience required to assess that risk. One of the most pressing areas to address is in the provision of financial support for start-ups and micro businesses. According to the panel of SME experts, new technology platforms can make a significant contribution.

Al Khalij Commercial Bank's (Al Khaliji) Q.S.C., announced its Gold Sponsorship of the upcoming annual Qatar Career Fair 2013, which will be held at the Qatar National Convention Centre (QNCC) between April 1st and 6th 2013. Al Khaliji is looking for a wide-range of Qatari nationals to fill different roles in the bank, from young university graduates to more experienced professionals. The Al Khaliji team at the Qatar Career Fair will provide practical advice and recommendations to Qatari nationals looking to build careers in the banking and finance industry. The team will also discuss opportunities for professional growth within Al Khaliji.

Qatar International Islamic Bank reported that shareholders had given approval for the nonconvertible Sukuk Issuance Programme up to $2 billion. QIIB Chief Executive Officer Abdulbasit Ahmed Al Shaibe said that the bank has not yet decided when to go for the issuance. It depended on international market conditions, he added.

According to Qatar Islamic Insurance Company (QIIC) Chairman Sheikh Abdulla bin Thani Al Thani, the company recorded good results in 2012 by generating a premium of QR206m and aggregate net profit of QR74m, of which net policyholders’ surplus amounted to QR16m.He noted the shareholders’ profit reached QR58m, constituting earnings per share of QR3.5. The Board of Directors, in co-ordination with the Shariah Supervisory Board, has decided to reimburse policyholders with cash surplus equaling 20 percent of the premiums written in 2012. The general assembly approved the company’s nine-point agenda, including its financial statements for the year 2012 and election of two people in the current QIIC Board of Directors.

Dubai Electricity and Water Authority (DEWA) has listed its planned $1 billion sukuk on Nasdaq Dubai. The sukuk has raised more than expected, with WAM claiming regional and global investors had reacted positively, leading to an increase in the value of sukuk listed on Nasdaq to $6.24 billion, while the value of sukuk listed in Dubai bourses rose to $10.173 billion. The state utility, rated BBB, had sought a profit of about 3 percent. The proceeds from the five-year deal will be used to refinance existing maturities as well as for new projects. Standard Chartered, Citigroup, RBS and local lenders Emirates NBD, Dubai Islamic Bank and Abu Dhabi Islamic Bank are mandated joint book runners on the deal.

Dubai's Nakheel announced that it issued a USD32.66 million sukuk as part of its restructuring plan. This is the property developer's fourth issuance which brings the total amount issued by the firm to USD1.16 billion. Since November 2009, Nakheel has paid nearly USD2.72 billion to different trade creditors and contractors. Nakheel's first tranche was issued in August 2011, and in January, the company issued a sukuk worth USD32.93 million. Nakheel is going through a USD16 billion restructuring plan.

Islamic financial institution is looking for a Senior Placement Manager to join their expanding team in Kuwait.
Responsibilities:

•Product-wise placement targets in each geography.
•Understand market appetite and assist the business development team.
•Service existing clients and network with potential investors in a target market.
•Make presentations on specific products, for which funds are to be raised.

Candidates who qualify for this position may kindly quote the Job Title in the subject of your email and send your CV as an attachment in MS Word Document format to momran@gulfconnexions.com

•Overlook development, business management and achievement of targeted income and operating profit in alignment with the vision, mission and values of the Bank.
•Provide the overall direction of the Bank keeping in mind the best interests of shareholders, customers and employees.
•Develop, manage and execute the operational plans based on strategic plans set and agreed with the Board.
•Maximize growth and profitability in a manner consistent with Sharia principles and standards.
•Balance Sheet Management, Capital Adequacy (ALCO), and Risk Management.

Bahrain-based Arcapita Bank, the first Gulf company to file for bankruptcy in the United States under Chapter 11 rules, has submitted a plan to reorganise the company. The plan, filed with the court handling the chapter 11 case in New York, represents an effective way to implement a comprehensive restructuring and maximise recoveries to creditors and other stakeholders. It will be the subject of a hearing within 45 days and must then be approved by creditors.

The ordinary general assembly of Qatar International Islamic Bank's (QIIB) shareholders, chaired by the bank Chairman Dr Sheikh Khalid bin Thani bin Abdullah Al Thani, approved all the 11 items figured in the agenda. These include the approval for the board of directors' decision to issue $2bn sukuk, election of two members to the Governing Council, and an annual dividend of 35 percent. The bank's total revenue in 2012 amounted to QR1.183bn while the net profit reached QR679m recording a growth rate of 4 percent on year-on-year basis. The issuance of the $2bn sukuk depends on international market conditions.

Tide Natural Gas Storage I LP, which paid $515 million for natural gas assets from a subsidiary of Bahrain's bankrupt Arcapita Bank BSC, asked a New York bankruptcy court Monday to appoint a trustee of the subsidiary's bankruptcy because of conflicts of interest. Tide asked to convert Arcapita subsidiary Falcon Gas Storage Co. Inc.'s bankruptcy from Chapter 11 to Chapter 7 and for the court to appoint a trustee because Arcapita reorganization's plan will give the Bahraini bank and its creditors too much power.

The GAVI Alliance and the Islamic Development Bank (IDB) today signed a Memorandum of Understanding (MoU) to help save children’s lives by accelerating the introduction of life-saving vaccines in IDB member countries. The MoU was signed by Dr Seth Berkley, GAVI Alliance CEO, and Dr Ahmad Mohamed Ali, Islamic Development Bank Group Chairman. By 2020, GAVI plans to vaccinate more than 400 million children in at least 29 member countries. An estimated US$ 7 billion will be required to reach this target. IDB will work closely with GAVI to help secure sufficient funds for immunisation.

Insurers in the Middle East and North Africa (Mena) exuded confidence as they expect that the premium growth will exceed that of the region’s gross domestic product. The region’s low insurance penetration, favourable demographics and relatively moderate natural catastrophe exposure are considered to contribute to the sector's growth. However, high levels of competition, regulatory deficiencies, market fragmentation and political risks are relevant perceived weaknesses of the Mena insurance marketplace. The majority of Islamic insurers say that the potential of Islamic insurance has been overestimated.