UAE-based Universal Tubes & Plastic Industries and India’s Tata Steel has executed the global steel industry’s first blockchain-based live trade finance deal. The transaction enabled the digitisation …
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Another digital bank – Rizq/Baraka – is going live in UAE, but based on Sharia
The digital bank is a venture from Zurich Capital Funds Group. “Our main challenge is to create a digital bank compatible with Islamic law, accommodating fast responses to fit into modern life,” said …
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Mashreq Bank and Cashew Payments introduce “Buy now pay later” offering across the UAE
Buy now, pay later” options let consumers break up their purchases into installment payments without interest or fees …
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Tristar Transport announces plan to float IPO
Tristar Transport, a leading global integrated liquid logistics solutions provider headquartered in Dubai, UAE, has announced its intention to proceed with an initial public offering (IPO) on the …
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ICC UAE’s conference culminates with new Trade & Investment Policy Commission
The UAE chapter of the International Chamber of Commerce (ICC UAE) concluded the International Trade & Finance Conference, themed ‘The Road to …
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Etisalat Digital’s new blockchain platform aims to stop trade finance losses
A new blockchain technology which could prevent losses in trade finance of up to 1 billion dirhams annually has gone live in the UAE. The new platform has the capability to prevent duplicate invoices, …
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UAE Trade Connect’s digital trade platform goes live with 7 banks
One of the first commercialised blockchain applications in the country, the platform will create an ecosystem for multiple trade-related entities …
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UAE launches ‘Trade Connect’ blockchain-based trade-finance platform to combat fraud
The United Arab Emirates today launched a new blockchain-based platform called UAE Trade Connect that’s designed to prevent economic crimes such as under-invoicing, money laundering and fraud in trade …
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UAE hits its digital stride in KYC and blockchain
The UAE was already a fintech pioneer but Covid turned it into a leader. Banks and government agencies are furiously rolling out blockchain-backed services that do everything from seamless KYC checks …
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Bad loans at UAE banks likely to increase once relief measures are over – S&P
Problem loans at banks in the UAE are likely to increase further once borrower support measures are lifted, S&P Global Ratings said on Sunday. The ratings agency has also given the local banks a group …
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UAE goes live with ‘Trade Connect’, a blockchain-based trade finance platform, to counter fraud risks
Dubai: UAE has rolled out a blockchain-based trade finance platform with the intent of stamping out fraud and financial crime risks such as duplicate- or under- invoicing. The ‘UAE Trade Connect’ …
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Revolutionising digital banking with virtual accounts
Aleta Planet seamlessly integrates simplicity, security, and dynamism in its proprietary technology solutions. Chairman and CEO Ryan Gwee shares …
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S&P views economic, industry risks in UAE’s banking sector as stable
S&P Global Ratings has classified the UAE’s banking sector in group ‘5’ under its Banking Industry Country Risk Assessment (BICRA). After the pandemic started, the UAE Central Bank (CBUAE) implemented …
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Emirates NBD and ECI sign agreement on trade finance
Initative aims to boost the confidence of the financial sector to fund UAE companies towards their manufacturing, export and expansion goals …
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Emirates NBD and Etihad Credit Insurance sign agreement to ease bank’s businesses access to trade finance
Dubai: Etihad Credit Insurance (ECI), the UAE Federal export credit company, and Emirates NBD have signed an agreement that will improve the liquidity of UAE exporters and businesses and enhance their …
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Tristar confirms withdrawal from planned IPO in Dubai
Logistics firm Tristar Transport says board and shareholders believe greater returns can be realised without IPO …
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UAE’s remittance flows need more digital ways to overturn pandemic hit
This approach of balancing digital ambitions with the reality of easing the transition of UAE’s alternatively-banked population is a necessity. It finds support in a survey comp …
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