Remittances slowed in 2014 mainly due to exchange rate volatility, as remittances are reported in US dollars.
It is clear that China’s goal of becoming the world’s largest economy by 2020 and the internationalisation of the RMB are two initiatives that are symbiotic in nature. With the recent IMF decision to include the currency in the SDR currency basket, what does the future hold for the RMB?
Hong Kong’s economy remains sound but the Hong Kong Monetary Authority is tamping down property loans and issuance of long-term personal loans. With the stricter regulations, the challenge for Hong Kong banks is not asset quality but pricing.
Formal financial institutions have connected only 22% of the Indonesian population. A huge potential for the financial sector still needs to be explored, and digitised lending, which combines retail banking with financial technology, should be a future solution.
Bank Muscat’s new phone banking platform with enhanced functionalities and customer recognition has brought about better customer service and satisfaction. The project won the award for “Best Self Service Banking Project in the Middle East” in The Asian Banker Technology Implementation Awards 2015.
The gross retail banking income for the entire region will grow by 8% by the end of 2017 after showing a year-on-year growth of 7.5% in 2016 and 10% in 2015.
Banks across the region continued to grow in 2014 but with headwinds in the horizon, conditions are expected to worsen
Despite considerable variations within the Middle East and Africa, the banking sector as a whole achieved good financial performance in 2014
Can the industry withstand the current combination of low interest rates, strong housing price growth and higher household indebtedness?
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