Dubai Bank founder faces jail term in row with CBK

Mr Hassan Zubeidi, former chairman, Dubai Bank. PHOTO | FILE | NMG Former Dubai Bank chairman Hassan Zubeidi has been cited for contempt of court in a long-standing tussle with the Central Bank of Kenya (CBK) over his refusal to grant receiver managers ... ( read original story ...)

UAE approves $13.9bn budget for 2018 with no deficit

The UAE Cabinet on Tuesday approved the federal budget of AED201.1 billion ($54.7 billion) for the years 2018-2021, of which AED51.4 billion ($13.9 billion) is for next year, with no deficit forecast. Sheikh Mohammed bin Rashid Al Maktoum, Vice President ... ( read original story ...)

Dubai, the capital of FinTech innovation

The accelerator programme opened with a series of speed meetings, where 11 select start-ups met with partnering financial institutions, including Abu Dhabi Islamic Bank, Citi, Dubai Islamic Bank, Emirates Islamic, Emirates NBD, HSBC, Mashreq, Network ... ( read original story ...)

Nationwide savings drive launched in the UAE

UAE investment company, National Bonds has launched a nationwide campaign to help local residents save after a new study revealed a lack of awareness in financial planning. Launched from November 1 under the hashtag #SavingsExcuse campaign the drive aims ... ( read original story ...)

BRIEF-UAE’s Amlak Finance Q3 profit rises

Nov 7 (Reuters) - AMLAK FINANCE: * Q3 NET PROFIT ATTRIBUTABLE TO SHAREHOLDERS 11.8 ‍ MILLION DIRHAMS VERSUS 5.7 ‍ MILLION DIRHAMS YEAR AGO * Q3 INCOME FROM ISLAMIC FINANCING AND INVESTING ASSETS 45.6 MILLION DIRHAMS VERSUS 49.7 MILLION DIRHAMS YEAR ... ( read original story ...)

UAE banks report profit gains amid slowdown in credit growth

Dubai: The UAE banking sector reported strong gains from improving asset quality, interest margins from repricing of loans and continuing improvement in operating costs in the third quarter of 2017. According to the latest central bank data on system-wide ... ( read original story ...)

UAE residents debunk perception of credit card carelessness

“With the advent of credit scoring from Al Etihad Credit Bureau, and the uptake of credit checks by local financial institutions, the UAE has become a model country in the region for sensible lending,” said Richards. UAE consumers said they still ... ( read original story ...)