Egypt
Egypt's United Bank to list on Cairo stock exchange on Oct. 24
State-owned United Bank will list on the Egyptian stock exchange on Thursday, the bourse said on Wednesday, a further step towards a rare privatisation of an Egyptian lender.
Singaporean bank DBS and Dubai-based lender Mashreq will collaborate to allow the Middle Eastern bank's retail customers to make same-day, near-instant cross-border payments in certain markets, the two banks said on Thursday.
The service, powered by DBS's cross-border payment solution that covers up to 132 currencies across 190 markets, will allow Mashreq's retail customers to make peer-to-peer international payments © Mena Today
Singaporean bank DBS and Dubai-based lender Mashreq will collaborate to allow the Middle Eastern bank's retail customers to make same-day, near-instant cross-border payments in certain markets, the two banks said on Thursday.
The service, powered by DBS's cross-border payment solution that covers up to 132 currencies across 190 markets, will allow Mashreq's retail customers to make peer-to-peer international payments in selected markets across the Asia Pacific, Europe and the Americas.
Demand for e-commerce transactions has increased across the globe, with global cross-border payment flows also projected to exceed $250 trillion by 2027, up from almost $150 trillion in 2017, the banks said in a statement.
"Global cross-border payment flows have surged as businesses, investors and talent pursue opportunities in new markets," said Terence Yong, global head of sales and global transaction services at DBS Bank.
"Our longstanding relationship with Mashreq aims to facilitate the seamless flow of capital, ultimately benefitting businesses, end-consumers and communities ».
Reporting by Sameer Manekar
State-owned United Bank will list on the Egyptian stock exchange on Thursday, the bourse said on Wednesday, a further step towards a rare privatisation of an Egyptian lender.
Russia wants the BRICS summit to showcase the rising clout of the non-Western world, but Moscow's partners from China, India, Brazil and the Arab world are urging President Vladimir Putin to find a way to end the war in Ukraine.
Lulu Retail Holdings, which runs one of the Middle East's biggest hypermarket chains, kicked off an initial public offering on Monday that bankers say could be the UAE's largest this year.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.