“This recognition reinforces our leadership within the financial advisory Place, and we stay focused on providing Excellent value to our customers as we continue to condition the way forward for finance,” he extra.
GIFL has powerful relationships with household offices and resources which enables us to suggest tailor manufactured solutions to distinct client needs. GIFL also functions extensively with many trade resources to resolve shoppers trade financing desires.
Aside from banking institutions, economic establishments, banking technological know-how suppliers and fintech corporations can also post nominations in any with the thirty fintech classes.
Automating do the job and deriving Price tag savings are only the start of what could possibly be a rare chapter in GCC banking. Nevertheless, the real opportunity lies in harnessing generative AI to fuel progress—assuming the most recent innovations never overwhelm banks and cause a lack of Manage.
This grand award ceremony is built to rejoice and recognise the fantastic place of work accomplishments of worldwide Functionality Centers, and it offers an excellent option for them to network, hook up, and understand from each other.
Continue to, with sizeable monetary methods in addition to a slipping cost of coaching personnel in AI, banks within the GCC have a possibility to overtake the successes of their maverick fintech rivals.
The Global FinTech Awards 2024 have already been announced - congratulations to all individuals who built it and thank you to all people that entered.
131. Disputed Defence of Financial Hardship o r Power Majeure Beneath the Legislation of your United Arab Emirates. Gulf Jet and Al Meeza assert that Gulf Jet wasn't in breach of its obligations for payment underneath the Leases as Those people obligations became extremely hard to perform by cause from the intense economic disaster which happened in Dubai pursuing the economic downturn commencing in September 2008. It is claimed that for motives outside of the control of Gulf Jet, it grew to become impossible for Gulf Jet to function and exploit the usage of the leased Cessna jets only by purpose in the economic disaster from the Emirate of Dubai. Due to the fact no gain from the Leases as well as plane could possibly be acquired by Gulf Jet, for no fault of its individual, it's asserted that "the Lessee In such cases is entitled to discontinue the Lease despite any provision within the agreement to the contrary. In these circumstances, no default may very well be attributed to the Lessee" (see Reply of Gulf Jet at paragraph 3.4). In its place, beneath the Legislation of the Emirate of Dubai, it's asserted that a judge "will have the option to endorse the discontinuity with the lease or lessen the load to an affordable extent." Gulf Jet also characterizes this defence as being the" incidence of a pressure majeure currently being the economic crisis" at paragraph 4.three of The solution Gulf Jet. This defence is much more absolutely established out by Gulf Jet at paragraphs 1.six, 1.seven, 1.eight, three.three, 3.4 and four.three of its Answer. Cessna forcefully resists this argument in Claimant's Memorial at paragraphs sixty three to sixty six. 132. You can find quite a few reasons why this argument of Gulf Jet can't succeed and doesn't give rise to a valid defence into the breach in the Leases or else demonstrated because of the Claimant. 133. To start with, Inspite of the numerous reliance by Gulf Jet on a regulation in the United Arab Emirates or a legislation of your Emirate of Dubai, none was recognized for appropriate critique and thing to consider to ascertain the applicability of this type of wide concept of drive majeure on the Leases In cases like this.
Moreover, this calendar year’s Enterprise Excellence Awards recognised establishments and individuals who made a mark past 12 months and impacted the region’s organization ecosystem in a meaningful way.
The GCC international locations are punching over their body weight economically and also the area is somewhat insulated from the worldwide ‘rocky Restoration’, marked by large inflation, elevated interest charges in addition to a slowdown on the globe’s two biggest economies – China as well as the US.
GIB’s earn displays the financial institution’s industry Management and capabilities across its transactional banking giving. This incorporates recognition of GIB’s exceptional methods, sturdy pan-GCC community and again-Business operations, and also its general performance underscored by double-digit development in clientele and involved revenues in the course of the earlier yr.
In opposition to a background of quick-paced adjust, you can find numerous enjoyable developments from the investment Area throughout all 6 kingdoms. The globe Finance GCC Investment & Advancement Awards 2017 have diligently selected These get more info which have been most productive in driving development.
The necessity of this diversification challenge happens to be very clear in the last 12 months, as fluctuations in crude oil price ranges have revealed weaknesses within the area’s economies.
International trade tensions and also the reimposition of US sanctions on Iran have also contributed into a hard fiscal natural environment. Nevertheless, this has only spurred the GCC’s programme even more, with international locations like Qatar and Saudi Arabia accelerating growth tasks.