Dubai: Monetary data form the Central Bank of UAE for August showed a monthly drop in system-wide credit and deposits in the banking sector. Gross credit fell by 1 per cent month on month in August, with domestic loans contracting by a greater 1.3 per cent.
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Dubai’s GEMS Education planning over $1 bln loan ahead of IPO
DUBAI, Oct 1 (Reuters) – GEMS Education, an international education firm headquartered in Dubai, plans to raise a loan of over $1 billion to refinance some existing debt before a planned initial public offer of shares in London, sources familiar with the …
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Green finance a key component of sustainable growth strategy
The Building Department of Dubai Municipality licensed 17,438 buildings with a total area of 187,723,308 million square feet between March 1, 2014, and June 30, 2016. Green Finance in UAE Green finance continues to grow in the UAE. According to the UAE’s …
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UAE Ministry of Finance Releases Executive Regulation of Federal Law No. (7) on Tax Procedures
The UAE Ministry of Finance has release the Executive Regulation of The Federal Decree-Law No (7) of 2017 on Tax Procedures, approved by the cabinet during its meeting on September 13, 2017, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum …
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Dubai’s Mashreq to cut branches as it shifts towards digital banking – CEO
DUBAI, Oct 1 (Reuters) – Dubai’s Mashreq Bank, the emirate’s third largest lender by assets, plans to halve the number of its branches over the next three years as it shifts its focus towards digital banking services, its CEO told Reuters on Sunday.
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Dubai’s GEMS Education planning over $1 bln loan ahead of IPO -sources
DUBAI, Oct 1 (Reuters) – GEMS Education, an international education firm headquartered in Dubai, plans to raise a loan of over $1 billion to refinance some existing debt before a planned initial public offer of shares in London, sources familiar with the …
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Dubai’s Mashreq to cut size of branches as it shifts towards digital banking
Dubai’s Mashreq Bank, the emirate’s third-largest lender by assets, plans to halve the size, not the number, of its branches over the next three years as it shifts its focus towards digital banking services, its CEO told Reuters on Sunday. The …
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Resolving bank fraud a lengthy process for UAE customers
SuzIf you fall victim to credit card or bank account fraud, it can take several months for the bank and card issuer to investigate. And, as two victims who wrote into The National found, you have to foot the bill, however large, until that investigation is …
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Islamic banks and Takaful sectors likely to witness more mergers
Dubai: The high-profile merger of National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB) in the UAE last year had triggered a number of unconfirmed reports of impending bank mergers across the GCC, however, most of these reports were eventually denied …
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Dubai’s Mashreq to cut branches as it shifts towards digital banking
Dubai’s Mashreq Bank, the emirate’s third largest lender by assets, plans to halve the number of its branches over the next three years as it shifts its focus towards digital banking services, its CEO told Reuters on Sunday. The downsizing will …
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National Bank of Fujairah Increases UAE Presence With the Opening of a New Branch in Al Ras
National Bank of Fujairah (NBF) PJSC is pleased to announce the opening of its new branch at the heart of Dubai’s historic Gold Souk in Al Ras. The expansion comes in line with NBF’s strategy to strengthen its nationwide presence, and ensure that its …
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Strong banking sector to support credit growth
Dubai: Kuwait’s banking sector is well regulated and has remained sound and credit conditions favorable amid challenging economic conditions. In the first half of 2017, credit to the private sector recorded healthy average growth, after taking a hit in …
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UAE economy manages soft landing with improvements in public finance
Reflecting uneven progress among Dubai GREs, the stabilisation is however accompanied by a concurrent shift toward less transparent domestic sovereign borrowing from majority Dubai government-owned Emirates NBD bank.
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DubaiGÇÖs Mashreq to cut branches as it shifts towards digital banking – CEO
DUBAI, Oct 1 (Reuters) – Dubais Mashreq Bank, the emirates third largest lender by assets, plans to halve the number of its branches over the next three years as it shifts its focus towards digital banking services, its CEO told Reuters on Sunday.
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Digital bank Mashreq Neo unveiled in the UAE
Mashreq Neo is targeted towards the connected generation who are digitally savvy, use mobile devices extensively, and will immerse users in a brilliant digital experience. “With the launch of Mashreq Neo, we have entered a new era in the digitisation of …
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UAE ‘sin tax’ comes into effect today
The UAE’s Excise Tax came into effect today, doubling the price of tobacco and increasing the price of soft drinks by 50 percent. Soft drink prices will increase from AED1.50 to AED2.25 while the price of a pack of 20 cigarettes will double from AED8 to …
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SoftBank plots deals to build $300bn asset-management arm
The investment manager oversaw $148.5 billion in private equity holdings, credit assets, real estate and hedge funds as of June 30 … receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.
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