MIDDLE EAST
* Banks across the Gulf Cooperation Council countries could benefit from rising global interest rates, Hasnain Malik, global head of equity research at emerging markets bank Exotix Capital, told a Bloomberg conference in London, Arab News wrote.
* Moody's said insurers in most Gulf Cooperation Council countries face moderate credit risk over the next 12 to 18 months, reflecting muted economic growth as a result of low range-bound oil prices and their relatively high exposure to volatile investment assets.
* Deutsche Bank AG CEO for the Middle East and Africa Jamal Al Kishi said the German lender plans to expand its operations in Saudi Arabia and to hire staff in Dubai and Abu Dhabi, as it expects sovereign bond sales and IPOs to drive deals in 2018, Bloomberg News reported.
* More than 10 foreign stock exchanges are interested in acquiring a controlling stake in the Tel Aviv Stock Exchange, an insider told Reuters.
* Arab National Bank reported fourth-quarter 2017 net profit of 634.4 million Saudi Arabian riyals, up 12.26% from 565.1 million riyals in the year-ago period.
* Goldman Sachs Saudi Arabia secured a license from Tadawul to conduct brokerage services and deal as a principal and an agent in the stock exchange.
* The Saudi Arabian Monetary Authority approved Metlife - AIG - ANB Cooperative Insurance Co.'s planned capital reduction to 180 million Saudi Arabian riyals from 350 million riyals.
* Mubarak Rashid al-Mansouri, governor of the Central Bank of the United Arab Emirates, told Reuters that he expects a final decision on a new system of setting the Emirates Interbank Offered Rate this year and is hopeful that it will be introduced "anytime soon."
* National Bank of Abu Dhabi PJSC has applied for a commercial banking license in Saudi Arabia and plans to enter the market in 2018, Reuters and Gulf News reported.
* UAE-based private equity firm Abraaj Group Ltd. has suspended fundraising for a new $6 billion fund, insiders told Reuters. The move comes as the firm reorganizes its business following claims by some investors that it had misused funds in its healthcare fund.
* The Qatar Central Bank is studying the proposed three-way merger of Masraf Al Rayan QPSC, Barwa Bank QSC and International Bank of Qatar QSC, Bloomberg reported, citing Masraf Chairman Hussain al-Abdulla.
* Qatar Insurance Co. SAQ's shareholders approved increasing the company's capital to 3.2 billion Qatari riyals from 2.7 billion riyals.
* Bahrain's parliament officially withdrew a bill that sought to prohibit all banks from charging interest and effectively force them to adopt Shariah-compliant practices, out of concerns that passing the bill would put the local banking sector at risk, according to Gulf Daily News.
* National Bank of Bahrain BSC CEO Jean-Christophe Durand told Reuters that the lender has boosted its investment banking business, as it seeks to attract advisory roles in a number of future large-scale infrastructure developments in the country.
* GFH Financial Group BSC's board of directors named Jassim al-Seddiqi chairman of the Bahrain-based company and Shaikh Ahmed bin Khalifa al-Khalifa chairman of GFH Capital Ltd. The board also accepted the resignation of Vice Chairman Ahmed al-Mutawa from the boards of GFH Financial Group, Khaleeji Commercial Bank BSC and GFH Capital.
* National Bank of Oman SAOG CEO Ahmed Jafar al-Musalami resigned due to personal reasons, with Sayyid Wasfi Jamshid al-Said serving as acting CEO.
* The Bank of Israel's monetary committee maintained the bank's interest rate at 0.1%, saying inflation is still trending below the target despite rising expectations.
* Bank Hapoalim BM will set aside a further $75 million in provisions to settle a U.S. investigation into allegations that it helped Americans evade taxes, taking its total provisions for the probe to $343 million.
* Mizrahi Tefahot Bank Ltd. reported fourth-quarter 2017 net profit attributable to shareholders of 365 million Israeli shekels, up from 265 million shekels a year earlier.
* Tehran's prosecutor, Abbas Jafari Dolatabadi, said 1,300 bank accounts of unregulated foreign-exchange currency traders in Iran have been frozen as part of a crackdown on the country's forex black market, according to the Financial Tribune.
NORTH AFRICA
* Banque Misr SAE Vice Chairman Atef el-Maghraby said the lender plans to raise 10 billion Egyptian pounds by selling stakes in six companies, including its 10.78% stake in Jordan-based Cairo Amman Bank, a part of its 100% shareholding in Banque du Caire SAE and its 2% stake in Saudi Arabia-based Samba Financial Group, in a bid to bolster liquidity, Bloomberg News wrote.
* Egypt's African Export-Import Bank intends to list some 67 million existing depository receipts on the Nigerian Stock Exchange, Bloomberg News reported.
* Egypt-based Arab Investment Bank plans to set up a new mortgage company with capital of up to 100 million Egyptian pounds, an insider told Amwal Al Ghad.
* Attijariwafa Bank SA reported full-year 2017 consolidated net income group share of 5.4 billion Moroccan dirhams, up 13.3% compared to 2016, primarily driven by the consolidation of Attijariwafa Bank Egypt.
* Morocco's minister of economy and finance, Mohamed Boussaid, asked insurance firms to purchase shares in Société Centrale de Réassurance, as part of a restructuring of the state-owned reinsurer's capital to ensure its sustainability, according to the Middle East Insurance Review.
* The Moroccan central bank authorized Wafacash, Cash Plus, M2T, NAPS and Maymouna to offer payment services to their clients, Jeune Afrique reported.
* Banque Tuniso-Libyenne inaugurated its new headquarters in Tunis, IlBoursa reported. The bank currently has 240 employees in Tunisia and plans to open six or seven new agencies in the country per year.
Henni Abdelghani and Sophie Davies contributed to this report.
