Category: FINANCE

It is reported that the UAE and Saudi Central Banks are preparing to test a crypto initiative that will create a new digital currency for use in cross-border payments. The Arab Monetary Fund (AMF) and Financial Stability Institute jointly organized on …
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Expats remittances from the UAE amounted to $33 billion (AED121.1bn) during the first nine months of the year, according to a report by the UAE Central Bank. The figure represented a 2 percent growth on the corresponding period in 2016, up AED118.6 billion …
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The UAE Central Bank announced that effective from today (Dec 14), it will raise interest rates applied to the issuance of its Certificates of Deposits in line with the increase in interest rates on US Dollar, following the Federal Reserve Board’s …
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The Dubai International Financial Centre (DIFC) and the Dubai Islamic Economy Development Centre (DIEDC) received a delegation on Wednesday from the United Kingdom, led by Alderman Charles Bowman, the new Lord Mayor of the City of London, as part of a …
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Dubai Islamic Bank (DIB), the largest Islamic Bank in the UAE, picked up four major awards at the Islamic Business and Finance Awards 2017, a prestigious industry event that endorses and recognizes those institutions and individuals that have championed …
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he non-oil part of the United Arab Emirates economy is expected to grow 3 per cent this year, accelerating from 2.7 per cent last year, the central bank said. “The recent improvement in oil prices has shed a positive sentiment on the economic activity in …
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Carey also told reporters the group would look to expand its fuel stations into Dubai and Saudi Arabia next year … shortly after the bell versus an IPO price of 2.50 dirhams per share. ADNOC’s fuel-distribution IPO is set to become the first of many …
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National Bank of Fujairah (NBF) announced today that it has joined Nasdaq Dubai’s rapidly expanding Islamic financing Murabaha platform, which offers unique advantages to financial institutions and clients seeking Sharia’a-compliant solutions and …
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Carey also told reporters the group would look to expand its fuel stations into Dubai and Saudi Arabia next year … shortly after the bell versus an IPO price of 2.50 dirhams per share. ADNOC’s fuel-distribution IPO is set to become the first of many …
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The UAE Financial Markets Association, UAE FMA, has announced the launch of the ‘Emiratisation Optimal Performance Scheme’ to encourage and support the local banking industry in implementing efficient nationalisation strategies. The programme launch in …
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Amanat Holdings has about 1.8 billion dirhams ($490 million) to spend on acquisitions in healthcare and education as the Dubai-based investment firm expands across the Middle East. The company is looking “at a couple of acquisitions” and “the pipelin …
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The IPO of Al Ahlia Insurance Company raised US$ 19.5 million … Panellists included Fahima Al Bastaki, Executive Vice President and Head of Business Development, Dubai Financial Market; Hassan Hijazy, Senior Vice President, Investment Banking; Andrew …
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As the entity responsible for the legislative aspects of the tax system in the United Arab Emirates, and committed to its role in raising tax awareness, The Ministry of Finance held a briefing this morning at its headquarters in Abu Dhabi, to define in …
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Asset growth at UAE commercial banks will accelerate in 2018, underpinned by stronger economic activity, according to a new forecast by BMI Research. According to BMI, the sector will remain broadly stable throughout the year, with continued growth in …
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The UAE has completed all legislative requirements to ensure that the implementation of its tax system is the best globally. The Ministry of Finance has also authorised the issuance of tax-related legislation and policies, as well as the establishment of …
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In a note to investors on its website, ADNOC noted that the IPO “creates a new platform and route for further value creation.” “This important and strategic offering represents a unique opportunity for investors to own a stake in the UAE’s number …
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Dubai: The Pakistan government will soon make it mandatory for all expatriates from the country to open bank accounts back home to be able to send remittances, an official has said. The move will curb illegal transfers and money laundering. “The Pakistan …
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