IslamicFinance.de

Job Objective
• To develop, manage and administer Information Security Systems
Job Description
• Provide the necessary inputs for defining and develop Information Security Policies and procedures.
• Conduct Information Security Awareness sessions and Communicate Policies to users and IT staff.
• Define Security Requirements and baselines for new information systems.
• Perform regular Penetration Tests and Vulnerability Assessments for information systems.

Position Responsibilities:
• Strategic interventions for improvement of cards portfolio size and quality
• Cards portfolio Pricing initiatives
• Support the cards acquisition efforts , specially around cross sell and alternate channels
• Improve the authorization rates for the card transactions
• Process improvement across the customer life cycle resulting in improved NPS for the business
• Support pan – product technology initiatives
• Cards alliances

An experienced Technical Services Support Manager to help International sites from implementation of telecommunication links through to after live support.

A background in Infrastructure/ Data Centre build within a bank (ideally) would be ideal for this role.

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The ideal candidate will have knowledge of the platform they work on (Phoenix), however similar core banking system (i-Flex/ Tenemos) knowledge will be acceptable. You must have knowledge and experience developing general banking products (Loans/ Trading).

Proven leadership skills along with strong communication skills (Arabic and English) is essential for this role.

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Eight additional directors have passed the Mudara Institute of Directors Accreditation programme. Nick Nadal, Head of Mudara Institute of Directors, said the he is delighted to welcome this new batch of directors, which will bring more diversity in competence, experience and perspectives. He also pointed out that co-operation with the new directors will be positive for advocating for greater director professionalism.

After advising Goldman Sachs on a controversial 2$ billion sukkuk programme, Dar Al Istithmar has closed down.
Sources say that most of the staff moved to Khalij Islamic, with offices in London and Dubai. Clients have moved to Khalij Islamic as well.

To develop and manage the Branch portfolio and to lead the branch effectively in order to ensure the achievement of retail liabilities, assets, cards and third party product sales targets, profitability objectives, and implementation of superior customer service culture and standards, while adhering to Banks policies and guidelines

The Dubai Islamic Bank PJSC (DIB) intends to acquire 100 per cent of Tamweel PJSC, the UAE-based Islamic home finance provider. DIB is the major shareholder of Tamweel, and will offer the other shareholders ten DIB shares for every 18 Tamweel shares. After approval by all regulators the date of the offer will be communicated individually to all Tamweel shareholders giving them adequate time to respond.

Ali Rashid Lootah, the chairman of Dubai government-owned developer Nakheel, assured that his company is in a good financial position and has about $600 million of cash on its balance sheet. The comments followed a recent report from analysts at boutique investment bank Exotix that estimated Nakheel may have difficulties repaying a $1.1 billion Islamic bond and about $2 billion of bank debt due in 2016 with its own resources. Nakheel issued the Islamic bond, or sukuk, as part of its restructuring settlement. According to Mr. Lootah further sukuk shares will be issued.

Jawad I. Ali, Managing Partner of King & Spalding LLP’s Middle East offices, emphasizes the importance of the Dubai International Financial Centre (DIFC) as a financial and capital center for all kinds of operations in the Middle East. Besides, the jurisdiction of the DIFC courts was expanded, now anybody can opt in their contracts to subject them to the DIFC law. The laws itself are modeled after English common law, and the official language of the DIFC courts is English. That’s why it is expected that the DIFC courts will soon become a major center for dispute resolution.

The entire board of the Financial Services Association of the United Arab Emirates reportedly resigned after having lost trust and confidence in the group’s co-founder and sole shareholder Arwa Hamdieh. She herself claims having disbanded the board due to delays in implementing decisions. The board represented a third of the association’s members.

Dubai aims to become a global centre for Islamic finance and economy, a project that will receive full support of the Dubai Multi Commodities Centre (DMCC).The DMCC already functions as a trading centre for Sharia-compliant Islamic financial products and prepares to further develop that industry.

The central banks of China and the UAE are strengthening bilateral financial cooperation in order to further increase trade and investment activities between China and the Middle East. Greater yuan currency usage in bilateral transactions will provide opportunities for public and private asset managers in Middle East to diversify and enhance their portfolio investments.

The Islamic banking arm of a leading regional bank is looking for an experienced Product Manager to join their Wealth Management team.

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Fitch Ratings has affirmed Dubai Islamic Bank’s (DIB) Long-term Issuer Default Rating (IDR) at ‘A’. This is due to the bank’s systemic importance and the Dubai government’s 30 per cent stake. Hence, there is a high probability of support from UAE authorities if needed. The bank’s Viability Rating (VR) at ‘bb’ reflects the domestic operating environment and DIB’s asset quality among others. The Long-term IDR is expected to be stable.

The Government of Dubai mandated five banks to arrange a benchmark-sized, dollar-denominated Islamic bond which is expected to price on Tuesday in the low four percent area. The mandated banks to arrange the deal are Dubai Islamic Bank, Emirates NBD, HSBC Holdings, National Bank of Abu Dhabi and Standard Chartered.

Since 2009, the emirate’s financial authorities and indebted government related enterprises (GREs) have adapted new tactics to overcome the debt crisis. The actions include negotiations with creditors and mortgage providers as well as repayments and restructurings. However, Dubai’s debt is still as high as $110bn, so this year’s debt deals are just the beginning of the approach to manage the crisis and avoid legal actions.

Al Dahra, an Abu Dhabi-based company, announced the investment of around 200 million Euros in Serbia's agriculture. 100 million Euros will be invested in the new irrigation system in order to boost production, and 100 million in the takeover of 80 percent stake in eight state-controlled agricultural companies. The investment in irrigation is expected to pay off in three to five years.

•Strategic interventions for improvement of portfolio size and quality
•Portfolio Pricing initiatives
• Support the acquisition efforts , specially around cross sell and alternate channels

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eFC Ref Nr1156157

RAKBank has recently launched an Islamic banking unit. According to a statement by the Ras Al Khaimah-based lender, it had received approval from the Central Bank to start an Islamic offering. The new unit will offer customers debit and credit cards with discounts at Sharia-compliant outlets, as well as car loans and takaful policies. As a subsidiary, RAKBank Amal becomes part of a continuously increasing number of lenders seeking to capitalise upon a development drive into Islamic finance.