Dubai: Deposits in the UAE’s banking system rose in September as credit growth continued to be anaemic, according to UAE Central Bank monetary data. Gross credit growth remained lacklustre in September at just 0.1 per cent month on month. This reflected …
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Dubai Multi Commodities Centre Offers Islamic Trade Finance Platform for SMEs
DMCC, one of the world’s leading free zones for trade and enterprise in Dubai, has signed an agreement with Dubai SME, an agency of Dubai Economy, to develop Sharia-compliant trade finance platform for the small and medium enterprises ( SMEs). The …
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Dubai developer Union launches new investment arm
Union Properties on Monday announced the formation of a new investment arm, UPP Capital Investment, as the Dubai-based real estate group continues to roll out its diversification strategy. The new entity will specialise in direct and indirect real …
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Dubai bank Emirates NBD’s Q3 profit rises 37%
Emirates NBD (ENBD), Dubai’s largest lender, posted a 37 per cent rise in third-quarter net profit on Monday as impairments tumbled and operating income rose. The bank, the last major lender from the United Arab Emirates to report its earnings during the …
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Finance Minister to attend India-UAE Partnership Summit in Dubai
Srinagar: JK Minister for Finance, Dr Haseeb Drabu on Sunday left for UAE to attend the India-UAE Partnership Summit (IUPS) to be held in Dubai on 30/31 October 2017. The Summit is being jointly organized by the Embassy of India, Abu Dhabi, Consulate …
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Bank recapitalisation offers a new lifeline to NPA hit state-owned Indian banks
Dubai: The Government of India’s decision to inject an unprecedented … one of the key drivers for our negative outlook on the South Asian nation’s banking sector,” said Jobin Jacob, associate director at Fitch Ratings. Apart from stabilising …
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Dubai CommerCity first regional e-commerce free zone
Dubai CommerCity, the first free zone dedicated to e-commerce in the MENA region, is intended to promote Dubai’s position as a leading platform for international e-commerce and to support economic diversification and smart transformation strategies. The …
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Dubai’s Noor Bank says managing director to leave on Oct 31
Dubai-based Noor Bank has announced the departure of Hussain Al Qemzi from his position as managing director, effective from October 31. Al Qemzi was CEO of Noor Bank from its inception in 2008 until June when he became the bank’s first managing director …
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Could Aramco renege on the IPO plan?
IPO vs. private share placement It’s possible that a change … at the Lebanese American University and has a Master’s degree in International Affairs. by Dubai American Academy
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Emaar launches property unit IPO
DUBAI: Emaar Properties, Dubai’s master developer, is to sell 20 percent of the shares of its UAE real estate unit in an initial public offering (IPO) that could value it at around $6 billion. The IPO is the first significant listing on a UAE market …
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Emaar Development IPO to be similar in size to $1.58bn Emaar Malls flotation
Emaar, which is selling 20 per cent of its real estate business, will offer 800 million shares and will announce the offer price range at the opening of the initial public offering (IPO) next month, it said in its prospectus on Dubai Financial Market (DFM …
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UAE’s largest bank says nine-month net profit tops $2bn
The UAE’s largest bank, created from the merger of National Bank of Abu Dhabi and First Gulf Bank, has reported more than AED8 billion ($2.18 billion) in net profit for the first nine months of 2017 First Abu Dhabi Bank (FAB) secured AED8.09 billion in …
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Checkout.com Brings Apple Pay to its Customers in the UAE
https://checkout.com/blogs/ bringing-apple-pay-uae-touch-id-payments-apps-websites/ Here at Fintech Finance, we work with renowned executives in the industry to provide key decision-makers globally within leading financial services organizations with …
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Dubai Exports and DIEDC seek New Zealand’s partnership in building Halal hub
Dubai Exports, the export promotion agency of Dubai Economy … are purchasing Halal products and services due to its natural and wholesome nature. In the financial services sector we have seen that a large proportion of the customers of Islamic banks …
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Barriers still holding back growth of Islamic finance – Fitch
The ratings agency said greater harmonisation of sharia codification within and between jurisdictions is often cited as a limiting factor if Islamic finance is to gain wider acceptance among regional and international investors. Dubai, through its Islamic …
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Abu Dhabi’s Mubadala mulls Emirates Global Aluminium IPO in 2018
Reuters reported in March that EGA had chosen banks to advise on the listing, but this is the first time its owner has confirmed the planned IPO. “We hope to take this … Owned by Mubadala and Investment Corporation of Dubai (ICD), aluminium producer …
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UAE central bank says removes more excess liquidity
The central bank of the UAE removed liquidity for the third straight month as an increase in deposits amid signs of economic improvement bolsters the banking industry. It withdrew Dh12.3 billion in September, Dh3.1bn in August and Dh8.2bn in July, the …
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