UAE- Islamic finance gets IMF backing

(MENAFN - Khaleej Times) The Islamic banking industry is set to flourish further even in non-conventional markets as the International Monetary Fund (IMF) approved a plan to incorporate Islamic finance into its financial sector assessments of select ... ( read original story ...)

UAE projects pick up momentum on higher government spending

The UAE witnessed solid increase in project awards in the first quarter of 2018 denoting improving investment momentum driven by higher public spending. According to data from Meed Projects and Abu Dhabi Commercial Bank (ADCB) on project award in the GCC ... ( read original story ...)

UAE Banks Operate 5,274 ATMs

according to UAE Central Bank statistics. On a different note, Central Bank statistics released recently on the latest financial developments in the country by the end of March indicated that the number of national banks stood at 22, with their branches ... ( read original story ...)

Saudi Aramco IPO ‘most likely’ to happen in 2019

The Aramco IPO would be a once-in-a-generation event for financial markets ... Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox. ( read original story ...)

Dubai Bank raids Kenyan rivals for top management

Giant Gulf lender Dubai Islamic Bank’s local subsidiary, DIB Bank Kenya, has hired top executives from leading local rivals, taking its total staff count to 112 as it seeks to gain a toe-hold in the Kenyan market 13 months after its launch. The Dubai ... ( read original story ...)

Pakistan hires UAE banks to raise $200m loan

The government of Pakistan is raising a $200 million syndicated loan with three UAE banks, banking sources familiar with the matter said, as Islamabad clings to external funding to stave off the pressure of balance payments. The loan, with a one-year ... ( read original story ...)

UAE Central Bank gold reserves jump 6.6% in value

The value of the UAE Central Bank’s reserves of gold bars rose to around Dh1.72 billion during the first quarter of 2018, a growth of 6.6 per cent from Dh1.099b during the corresponding period 2017. Statistics issued by the bank showed that its reserves ... ( read original story ...)

Central Bank of UAE Publishes 2017 Financial Stability Report

The Central Bank of the UAE (CBUAE) today publishes the Financial Stability report for the year 2017. The Financial Stability Report provides information on the strengths and vulnerabilities of the UAE financial system and the regulatory and policy ... ( read original story ...)