New Islamic economy products launched in Dubai

They key aim is to achieve a sustainable economy.” Held at Grand Hyatt Dubai, the event was attended by industry experts, innovators, and decision-makers. It was supported by Alinma Bank, Islamic Development Bank and Dubai Islamic Economy Development ... ( read original story ...)

Emirates NBD Bank : inks Unec’s Dubai project finance deal

Emirates NBD, a leading bank in the region, said it has successfully concluded financing amounting to Dh1.3 billion ($354 million) for Unec (United Engineering Construction Company) towards building work on Dubai-based property developer Nakheel's Deira ... ( read original story ...)

Qatar’s Commercial bank to pull out of Abu Dhabi-based UAB

... soon make public the handover its 40 per cent stakes in Abu Dhabi-listed United Arab Bank (UAB) to Tabarak Investment, also based in the United Arab Emirates (UAE), in a deal anonymous sources say could be on record in the coming months. “The ... ( read original story ...)

Foreign bank ordered to pay €70,000 to local company

Dubai: A foreign bank branch will have to pay €70,000 plus an appropriate amount of compensation to a local company for its malpractice in processing the plaintiff’s letter of credit. The case was recently resolved by the Expertise and Dispute ... ( read original story ...)

UAE Food Bank to collect displayed items at Gulfood for donation

Dubai: Having channelled over 600 tonnes of food donation last year, the UAE Food Bank is not missing any chance to make sure surplus food at any potential venue reaches the needy. With that aim, the Food Bank will collect the food items that are being ... ( read original story ...)

Dubai Islamic Bank : DIB lists $1b sukuk on Nasdaq Dubai

Dubai Islamic Bank (DIB), the largest Islamic Bank in the UAE, rang the market-opening bell today to celebrate the listing of a $1 billion Sukuk on Nasdaq Dubai. The Sukuk is the first benchmark dollar-denominated Sukuk from a GCC issuer in 2018 and ... ( read original story ...)

Dubai Islamic Bank celebrates Nasdaq Dubai Sukuk listing

It is DIB’s sixth Sukuk on Nasdaq Dubai, making the bank the largest UAE debt issuer by value on the exchange with a total of $5.25 billion. The latest Sukuk, carrying a profit rate of 3.625 per cent with a five-year tenor, attracted investors from the ... ( read original story ...)

UAE biggest source of GCC remittances to Philippines in 2017

Dubai: The value of remittances ... posting the biggest jump of 30.8 per cent from a year earlier. The figures are based on bank reports and refer only to funds coursed through banks. Overall, Filipinos from around the world remitted a total of $31.3 ... ( read original story ...)