Noor Bank, a leading Shari’a compliant bank in the UAE, today announced that its Internal Audit function has received the “Generally Conforms” rating, which stands as the highest rating, following a quality assessment review by the UAE Internal …
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Qatar asks US to probe ‘financial warfare’ by UAE bank
Qatar has asked the US to investigate reports that the American subsidiary of the largest bank in the UAE is manipulating the Qatari currency to harm the country’s economy amid a diplomatic dispute with Saudi Arabia. The Central Bank of Qatar has sent a …
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India’s Axis Bank opens office in Sharjah
Axis Bank, India’s third largest private sector bank, has opened a representative office in Sharjah, United Arab Emirates. Shri Vipul, Consul General of India in Dubai, inaugurated the representative office. The representative office in Sharjah is the …
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Plans revealed to set up new Islamic bank in Dubai
Dubai Investments has announced plans to lead a consortium of investors to launch Arkan Bank, a wholesale Islamic financial institution with an initial paid-up capital of $100 million. The authorised share capital of Arkan Bank will be $500 million, the …
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UAE VP orders creation of financial restructuring commitee
UAE Vice President and Prime Minister and Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum has ordered the formation of a committee to oversee the financial restructuring of companies in the country. The resolution follows the introduction of a bankruptcy …
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UAE Companies Could Raise $9 Billion From IPOs in 2018
which could see 2018 as a landmark year for the UAE financial markets, industry analysts have said. Vijay Valecha, chief market analyst, Century Financial Brokers, said UAE companies are expected to raise $8-$9 billion (Dh29.36-Dh33 billion) from IPOs …
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Joint UAE-Egypt Economic committee concludes in Cairo
The two sides also discussed the Greater Arab Free Trade Agreement and ways to activate the joint UAE-Egyptian businessmen council. The committee also discussed cooperation in the finance and taxation sectors, as well as possibilities of cooperation in the …
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Qatar asks US to probe financial manipulation by UAE
Qatar’s central bank asks US to investigate Emirati bank accused of waging ‘financial warfare’ against it. Qatar’s central bank has asked US regulators to investigate an Emirati bank that Doha accuses of waging “financial warfare” against it. Qatar claims …
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UAE- Five key factors driving Islamic finance growth
(MENAFN – Khaleej Times) In just one year, Islamic economy has registered remarkable progress, its markets have expanded, products increased and its culture broadened. More specifically, global Islamic finance assets increased from $2 trillion in 2016 to $ …
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UAE, Bahrain and Fintech: The financial disruption is on
According to an intelligence report by Business Insider (BI Intelligence), Fintech could be bigger than ATMs, PayPal, and Bitcoin combined. “The fintech industry no longer stands clearly apart from financial services proper, and is increasingly growing …
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UAE companies may raise Dh33 billion from IPOs
The initial public offering (IPO) market looks pretty strong as the UAE companies are projected to raise up to $9 billion (Dh33 billion) this year, which could see 2018 as a landmark year for the UAE financial markets, industry analysts have said.
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Saudi Aramco said to get cool response on IPO from US investors
Preliminary meetings with investors have pitched the IPO as a bond-like security … Business’ newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.
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Branching out: Commercial Bank of Dubai CEO Dr Bernd van Linder
When the Commercial Bank of Dubai (CBD) was created by an Emiri decree in 1969, the UAE was not yet an independent nation and Dubai was still very much a small Gulf port at the very beginning of its meteoric rise to become one of the world’s foremost …
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Dubai, Russian and US interest in AC Milan – reports
Dubai businessman Saeed Al-Falasi is reported to be interested … AC Milan are working to refinance more than 300 million euros in high-interest loans from US hedge fund Elliott Management. If the club is not able to refinance by next October the US …
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UAE millionaires among world’s most confident – survey
Millionaires in the UAE are significantly more confident about both their own prospects and the wider economic outlook than most of their counterparts in other major markets, according to a new UBS Confidence Index. The index – a study of over 5,400 …
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Arab offer for Milan?
It’s reported that a member Dubai’s royal family is interested in buying Milan, amid doubts over Yonghong Li’s finances. The Rossoneri were bought over by the Chinese businessman last April, but a loan from US hedge fund Elliot Management was required …
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From Switzerland To Singapore: The World’s Top Tax Havens
Now it deals with some of the world’s biggest banks, corporations and hedge funds. On the FSI secrecy index … And no one’s entirely sure how much offshore money is flowing through here. Dubai, servicing massive regional oil wealth, gets the highest …
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