Dubai’s Noor Bank cuts dozens of jobs

Dubai-based Noor Bank has laid off several dozen employees, banking sources told Reuters on Tuesday, the latest lender to adjust to more subdued growth levels in the local financial services sector. Although the number of jobs cut in the past few weeks was ... ( read original story ...)

Abu Dhabi Islamic Bank invests heavily in digital services

Details on entering MEED’s new awards programme can be found below As the UAE’s banking industry becomes ever more competitive, Abu Dhabi Islamic Bank (ADIB) says it will continue with its current strategy based on prudence in risk management ... ( read original story ...)

UAE’s Union National Bank opens Shanghai branch

Union National Bank (UNB), 50 percent owned by the Abu Dhabi government, has begun operations at its branch in Shanghai, becoming the first bank from the UAE to operate a branch in mainland China, the bank said on Tuesday. The Shanghai presence will ... ( read original story ...)

Deposits in UAE Banks Surge to $120 Billion in H1

according to UAE Central Bank statistics. The term 'Short Term Deposit' refers to an amount of money placed in a bank or financial institution for a term no longer than one year. It will usually earn a fixed rate of interest. According to Central Bank data ... ( read original story ...)

Make no mistake: Mobile is the future of banking

Instant. Accessible. Convenient. All words to define what mobile banking means today for customers in the UAE and Middle East, and across the world, and indeed what they now expect from banking services. We're seeing banks today recoiling from large ... ( read original story ...)

Dubai’s Noor Bank Downsizes in Huge Restructuring: Sources

Noor Bank has allegedly made dozens of redundancies at its branches this week, with up to 200 redundancies in total planned, according to media reports. Noor Bank has issued a statement saying that these redundancies are part of its restructuring programme ... ( read original story ...)

Dubai’s solar city goes live

Dubai’s Sustainable City has kicked off operations of a solar installation that will eventually produce up to 10 MW of power at maximum capacity. Completion of the first phase of the project has seen 24,170 solar panels installed so far. The next phase ... ( read original story ...)