The UAE is to establish the world’s first Sharia-compliant trade bank to bolster its ambition to be the centre of the Islamic economic world. The Dubai Islamic Economy Development Centre (DIEDC), under the new chairmanship of Sultan bin Saeed Al Mansouri …
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Establishment of Emirates trade bank in Dubai
The Dubai Islamic Economy Development Centre (DIEDC) is supportive of the initiative from the Department of Economic Development (DED) in Dubai to launch Emirates Trade Bank. His Highness, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of …
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Dubai bank Emirates NBD joins India’s ICICI on blockchain project
The technology will be used for global remittances and trade finance Dubai’s largest bank, Emirates NBD, is working with India’s ICICI on a pilot project to use blockchain technology for global remittances and trade finance, in what they say is a first …
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Dubai Bank directors protest delayed hearing
Dubai Bank Directors accused of money laundering are accusing the prosecution for delaying the hearing of their case. Three former managers of the collapsed bank, Abdul Hafedh Zubeidi, Ali iBashir Sheikh and Professor Wilson Hassan Nandwa argue that the …
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Dubai's Emirates NBD joins India's ICICI Bank on blockchain project
DUBAI (Reuters) – Dubai’s largest bank, Emirates NBD , is working with India’s ICICI on a pilot project to use blockchain technology for global remittances and trade finance, in what they say is a first for banks from the Middle East and India. The project …
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Major banks from India and Dubai complete blockchain trade finance and remittance transactions
India’s largest private bank, ICICI, and one of the middle east’s largest banks, Emirates NBD, recently announced successful international blockchain transactions for both Trade Finance and Remittance purposes. International Trade Finance allows …
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Dubai bank directors complain delay in their case
A Nairobi court has reluctantly granted the prosecution last adjournment in the case where Dubai Bank Directors are accused of money laundering worth over Sh 48 million. Chief Magistrate Daniel Ogembo on Tuesday said the defense have never opposed any …
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UAE opens Boston consulate to strengthen bilateral ties in New England
Boston: The United Arab Emirates (UAE) opened a Consulate General in Boston, Massachusetts, the country’s third consulate in the USA. At an event held on Thursday, 13th October, to celebrate the opening of the consulate, UAE Consul-General Salem Al …
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Be careful when buying goods
Dubai: At the recently concluded Emirates Intellectual Property Association (EIPA … an auto expert told Gulf News. In most cases, motorists chose poor quality parts for their affordability, but according to Gordon Ferguson, General Manager at AAA …
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Law on emirate's cultural heritage applauded
He also expected many components of the UAE national heritage would soon be recognised as World Heritage by UNESCO, according to UAE News Agency (WAM). I.Y BNA 0622 GMT 2016/10/16
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UAE consumers increasingly interested in buying property
Consumers in the UAE appear to agree with the current real estate market sentiment that now is good time to buy property, according to statistics from compareit4me.com, the Middle East’s leading finance comparison site. Using data from its mortgage …
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UAE ambassador opens refugee camp for 350 Syrians in Lebanon
BEKAA VALLEY, Lebanon, 15th October, 2016 (WAM) – The UAE has opened a refugee camp in Lebanon to shelter 350 Syrian refugees. Officiating at the opening of the Al Marj camp, UAE Ambassador to Lebanon Hamad Saeed Al Shamsi noted that the recently …
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UAE, WHO sign two cooperation agreements
The second agreement includes the implementation of integrated outreach programmes against polio, measles and other routine vaccinations in 11 governorates, according to UAE News Agency (WAM). I.Y BNA 0606 GMT 2016/10/13
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What UAE law says about cybercrimes, penalties
UAE Cybercrime Law No. 5 of 2012 … to invade someone else’s privacy – which can even include eavesdropping, copying photos or publishing news – can be jailed for six months and face fines of between Dh150,000 and Dh300,000. · The most severe penalty …
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Emirates Telecommunications Grop : Etisalat to invest $817m in infrastructure – CEO
Abu Dhabi – Mubasher: Etisalat UAE has dedicated more than AED 3 billion ($817.4 million) for investments in infrastructure in 2016, the telecom group CEO Saleh Al Abdooli told Mubasher. The new investments include fiber optic networks, fourth-generation …
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Not all ‘killer offers’ are the same
Gulf News checked the online site where M.N. bought her phone but noticed that the site did not have any physical address in Dubai nor any actual contact number or proper customer service. Gulf News raised M.N.’s issue with the Consumer Protection …
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Dubai’s Role With Blockchain Technology’s Success Story
Dubai is well known for technological progress and its mission for futuristic prosperity. Dubai’s Museum of the Future is a 3D printed meeting area where authorities have been discussing the attributes of blockchain technology. According to officials …
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