Held in partnership with the UAE Ministry of Finance, and showing off the latest products in action as well as boosting the UAE as an international hub for fintech, FinovateMiddleEast will take place from 26-27 February at the Madinat Jumierah Conference …
( read original story …)
UAE’s FAB gets investment banking license in Saudi Arabia
First Abu Dhabi Bank (FAB), the UAE’s largest bank, received a license from Saudi Arabia’s Capital Market Authority to offer investment banking services in the kingdom, joining a host of foreign banks scurrying for business in the Arab world’s …
( read original story …)
Bank of Singapore eyes expansion Dubai as assets jump
The private banking arm of Singapore’s second-biggest lender, OCBC, aims to add around 25 relationship managers to its Dubai office by 2020 as it targets more business from non-resident Indians and wealthy Middle East clients, a senior executive told Reuters.
( read original story …)
Al Jaber Group close to $1.6b debt restructuring
Dubai: Abu Dhabi-based Al Jaber Group expects to seal a deal … Al Jaber’s debt is mostly held by local and international banks, although some hedge funds and other non-bank financial institutions also feature among the creditor group, sources familiar …
( read original story …)
Forex Sales Associate – Dubai Jobs
One of the leading Forex Financial Brokerage Company is looking for Forex Sales Associates to be based out of Dubai offices … dealing relationships with other FX Brokerage firms, Hedge Funds, and Asset Management Companies for FX Spot in furthering …
( read original story …)
Noor Bank weighing sale of Islamic bonds
Dubai: Dubai’s Noor Bank PJSC is considering the sale of Islamic bonds as the Sharia-compliant lender seeks long-term funding, its chief executive officer said. “It is not a bad time to consider going to the market,” John Iossifidis said in an interv …
( read original story …)
Banking on talent and home advantage
The UAE Team Emirates is banking on in-house talent and home support to make an ideally strong start to the season during this week’s Dubai Tour. Launched in January last year the team made their debut at the 2017 People’s Choice Classic Criterium in …
( read original story …)
Dubai Holding appoints new CEO to run $35bn firm
The statement didn’t provide a reason for Alrafi’s departure. Kaushal previously worked at Goldman Sachs, UBS Group AG and Deutsche Bank AG in London and Dubai, according to information on Dubai Holding website. It’s not clear who will replace …
( read original story …)
Abu Dhabi Islamic Bank Sees Bright Outlook in 2018
Abu Dhabi Islamic Bank (ADIB) is well positioned to take advantage of the opportunities that are expected to arise from the positive economic outlook of the UAE, officials have said. “We are confident that our financial strength and our focus on leveraging …
( read original story …)
Dubai’s Abraaj denies it misused Bill Gates money
A story in the Wall Street Journal over the weekend claimed that The Bill and Melinda Gates Foundation, the World Bank’s International Finance … It was further claimed that Dubai-based Abraaj, one of the most influential venture capital vehicles …
( read original story …)
Noor Bank opens new Bur Dubai Branch
John Iossifidis, CEO of Noor Bank, officially inaugurated the new premises in the presence of the bank’s Head of Retail Banking, Mufazzal Kajiji, senior management and employees of the branch. “While planning to establish a new branch, we carefully …
( read original story …)
400 fintech leaders to attend Dubai event
Other prominent topics throughout the two days will include a case study on an interbank Blockchain pilot featuring India and the UAE, how to reap the benefits from the changing environment in banking, how Malaysia is building a cryptocurrency and how …
( read original story …)
Gulf Bank Wins ‘Best Retail Bank’ and ‘Best Mobile Banking App’ Kuwait Awards From International Finance Magazine
Gulf Bank is pleased to announce it was honoured with two awards at the 5 th Annual International Finance Awards ceremony held earlier this month in Dubai, UAE. Accepting the award for ‘Best Retail Bank in Kuwait – 2017’ was Mr. Basel Al-Assad …
( read original story …)
UAE banks upbeat about 2018
DUBAI — The banking sector is looking to pounce on the expected faster economic growth of United Arab Emirates this year. Banks are expected to raise lending by about 4 percent to 6 percent this year as Dubai continues its massive preparation for the …
( read original story …)
Here’s why lenders in UAE are upbeat about growth in 2018
First Abu Dhabi Bank expects its loan book to grow by a mid-single digit per cent this year compared with a 1 per cent decline in 2017. Dubai’s biggest lender Emirates NBD also sees a mid-single digit percentage growth compared with a 5 per cent increase …
( read original story …)
Dubai Islamic Bank issues $1bn Islamic bond
Dubai Islamic Bank (DIB) said it has successfully issued a $1-billion sukuk (Islamic bond) with a five-year tenor, maturing on February 6, 2023 on the back of the bank’s strong financial performance and attractive market positioning. The issuance …
( read original story …)
Will my bank account be frozen when my residence visa is cancelled?
I do not have any loans or credit card debts outstanding in the UAE but have some money saved at a local branch of a major bank. Will my bank account be frozen, or can I leave the cash in it? NK, Abu Dhabi When a bank finds out that someone has received a …
( read original story …)