A personal finance consultant has been convicted of running his business without a licence, amid claims that he invested his clients’ money in high-risk start up companies without their knowledge. Neil Grant was convicted by Dubai Criminal Court of …
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New laws will crack down on fraudulent financial advisers
The conviction of personal finance consultant Neil Grant yesterday in Dubai showed how easy it is to fall prey to unscrupulous investment advisers. Grant was convicted of running an unlicensed business, amid claims he funnelled his clients’ money into …
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Data protection more important than ever before, UAE finance ministry says
Dubai: To mark Data Privacy Day, the Ministry of Finance (MoF) has emphasised the importance of protecting personal data for financial transactions, in light of the digital revolution and the increasing global trends to protect individuals from the misuse …
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Dubai-based Bitcoin exchange to accept new verifications as Ripple is added
Dubai-based cryptocurrency exchange BitOasis is accepting new … Any new users wishing to purchase Bitcoin and Ethereum from the site must enter bank details, ID and proof of address before transactions more than that amount are enabled, a process that …
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UAE’s largest bank reports fall in profit after merger costs
First Abu Dhabi Bank (FAB), the largest bank in the United Arab Emirates, on Monday reported a 3.5 percent profit fall in 2017, citing costs linked to its recent merger. FAB, the combination of National Bank of Abu Dhabi and First Gulf Bank, said its full …
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Dubai’s Emirates NBD in talks to buy stake in Turkish lender
Emirates NBD, Dubai’s largest bank, said on Tuesday it had started initial strategic discussions with Russia’s Sberbank about a possible purchase of Sberbank’s stake in Turkey’s Denizbank. Emirates NBD has previously acquired BNP Paribas’ Eygptian banking …
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Dubai’s Emirates NBD in talks to buy Turkey’s Denizbank
Emirates NBD, Dubai’s largest bank, said on Tuesday it had started initial strategic discussions with Russia’s Sberbank about a possible purchase of Sberbank’s stake in Turkey’s Denizbank. Emirates NBD has previously acquired BNP Paribas …
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First Abu Dhabi Bank profits dip 3.5% in ‘soft market’
First Abu Dhabi Bank (FAB), the UAE’s largest bank, on Monday announced that net profit for 2017 dropped 3.5 per cent to Dh10.92 billion as compared to Dh11.52 billion in the previous year. The group’s revenue also declined four per cent year on year to …
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Dubai Islamic Bank : plans to raise Dh1.64b via rights issue
Dubai: Dubai Islamic Bank (DIB) has said it is seeking shareholder approval for a plan to raise Dh1.647 billion on the Dubai Finacial Market by issuing additional shares. Shareholders will have a right to buy one share for every three shares held and will …
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Iranians’ banking problem in China settled
He went on to say that Central Bank of Iran is finding a market instead of United Arab Emirates (UAE) for banking and monetary exchanges in the Persian Gulf region. Reopening Iranian accounts in China is the result of intensive and tough negotiations made …
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Dubai Financial Market : welcomes the listing of Bahrain’s Ithmaar Holding
Dubai Financial Market (DFM) announced on Monday the listing of Bahrain’s Ithmaar Holding B.S.C. (Ithmaar), one of the leading investment institutions in the Kingdom of Bahrain, as trading commenced on the bank’s shares under the trading symbol (ITHMR …
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Reda Bedjaoui Discloses Optimized Alternative Investments within Alcoholic Beverage Market
DUBAI, UAE / ACCESSWIRE / January 22, 2018 / Globally, many high and ultra-high net worth individuals have earmarked between four and six percent of their overall asset allocation into alternative investments like private equity, hedge funds, managed …
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Bahrain’s Ithmaar Bank plans aggressive expansion in Pakistan
Dubai: Bahrain-based Ithmaar Bank plans to add more than 100 branches in Pakistan this year through its subsidiary Faysal Bank, to capitalise on the country’s low penetration rate of banking services, a senior executive said. Ithmaar Bank owns 66 per …
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Bahraini bank plans aggressive expansion in Pakistan
Al-Mutawa was speaking after Ithmaar Bank’s parent company, Ithmaar Holding, listed on the Dubai Financial Market on Monday. The company is already listed in Bahrain and Kuwait. “The listing is good news for the company for growth capital and we are well …
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UAE-based real estate investment trust completes $210m deals
It said Abu Dhabi Islamic Bank has contributed 165 residential units located in … “This is our second REIT in the UAE to achieve critical size and attract key institutional investors and we are very pleased with the support we have received from our …
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Dubai Islamic Bank : celebrates first UAE National win in “Double Your Salary” Promotion
Dubai Islamic Bank (DIB), the UAE’s largest Islamic Bank, has announced the first UAE National as the grand winner in the fourth draw of its hugely successful ‘Double Your Salary’ campaign, held at DIB’s Reef Mall Branch. DIB’s ‘Double Your Salary …
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Abu Dhabi Commercial Bank Q4 net profit up 7%
Abu Dhabi Commercial Bank posted a 7 percent rise in fourth-quarter net profit … Subscribe to Arabian Business’ newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.
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