FATF is an international organization that sets global standards for fighting illicit finance. The UAE has been tightening its financial regulation to try to close regulatory gaps. Dubai International …
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UAE issues law to curb money laundering, terror financing
A new law to combat money laundering and terror financing has been passed in the UAE, it was announced on Tuesday. The law issued by the President, His Highness Sheikh Khalifa bin Zayed Al Nahyan, ord…
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UAE banks require minimum 60 per cent national shareholding
Dubai: The new Federal Law (Law No. 14) of 2018 regarding the Central Bank & Organisation of Financial Institutions and Activities requires a minimum of 60 per cent UAE ownership for local banks …
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APM Terminals Bahrain aims to raise more than $30mln with IPO
DUBAI- Port operator APM Terminals Bahrain plans to raise almost 12 million Bahraini dinars ($32 million) through its planned initial public offering (IPO). The company will offer 18 million shares, e…
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Boursa Kuwait’s Dubai Corporate Day Met With Keen Interest
hedge funds, pension funds and insurance companies. Taking place at the Dubai International Financial Center (DIFC), the meetings provided the investors with the chance to learn more about the benefit…
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Bahrain central bank approves port operator IPO
DUBAI, Oct 30 (Reuters) – Bahrain’s central bank has approved an initial public offering (IPO) by APM Terminals Bahrain, a port operator, it said. The company plans to list shares equivalent to 20 per…
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Bahrain’s APM Terminals IPO to be offered at 0.66 dinars per share
DUBAI, Oct 30 (Reuters) – Port operator APM Terminals Bahrain will offer shares in the company at 0.66 Bahraini dinars ($1.75) per share, it said in the prospectus of its planned initial public offeri…
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UAE approves anti-money laundering law to combat terrorism financing
The UAE has been issuing a series of laws to boost the competitiveness of the economy, including a new debt law that will help financial markets. The Arab world’s second biggest economy is also introd…
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Islamic banking key to financing China’s Belt and Road
“The Belt and Road is about supporting infrastructure development and economic growth,” said Adnan Chilwan, chief executive of Dubai Islamic Bank, the UAE’s biggest sharia-compliant lender by assets, …
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UAE to amend retail-banking rules
Abu Dhabi: The UAE Central Bank has decided to amend retail-banking rules related to personal loan and other services provided to individuals. Under the new rule, the bank set new terms and …
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Central Bank amends rules on loan transfers
Dubai: The UAE Central Bank is amending rules on loans given out to individual clients across the country, and specifically on the transfer of loans from one bank to another. As per a decision to …
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ICC-UAE banking commission achieves milestones
DUBAI, 30th October, 2018 (WAM) — The UAE chapter of the International Chamber of Commerce, ICC-UAE, has announced that three of its Banking Commission members, Atif Raza , Head of Trade Sales, Comme…
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Dubai bank Emirates NBD posts 16% rise in Q3 profit
Emirates NBD (ENBD), Dubai’s largest lender, posted a 16 per cent rise in third-quarter net profit on Tuesday as net interest income jumped and impairments for bad loans eased. The bank made a …
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Dubai to open first skin bank in Arab region
(MENAFN – Khaleej Times) Dubai is in the process of setting up a skin bank, the first in the region, which will be used in grafting of burn cases and other patients in need. In an interview, Dr …
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UAE sets up new unit to probe illicit financial activity
Sheikh Hamdan bin Rashid Al Maktoum, deputy ruler of Dubai and Minister of Finance … as per the regulations set out by the Central Bank.
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Why UAE residents are opting for personal finance from Islamic banks
The UAE residents’ preference for Islamic banks products such as … Wasim Saifi, Deputy CEO for Consumer Banking and Wealth Management at Emirates Islamic bank, said penetration level of Islamic bank…
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UAE Ranks First Globally In Islamic Economy
The UAE ranks top globally across five Islamic economy sectors, according to a report that forecasts Islamic finance assets would surge to $3.8 trillion while global Muslim spend on food and beverage …
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