Tag: finance

The Dubai International Financial Center (DIFC) last week gave an update on the impressive plans it has to expand — both physically and commercially — as part of a 10-year plan that aims to triple its size by 2024. On the real estate side of the ... ( read original story ...)

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 ...)

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 ...)

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 ...)

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 ...)

UAE banks saw profitability decrease in the second quarter because of lower non-interest income but on the bright side net interest margins are increasing, according to the latest UAE Banking Pulse report from Alvarez & Marsal, the global professional ... ( read original story ...)

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 ...)

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 ...)

Outmoded blank security cheque system wide open to abuse, claim critics UAE banks still demand blank cheques as security for credit. They can quite legally fill out the amount themselves and cash the cheque whenever they see fit, regardless of whether ... ( read original story ...)

“The UAE has reached a very advanced stage regarding the legislative aspects of the tax system that is among the best in the world. Through Ministry of Finance, which is authorised to issue tax legislation and policies, the Tax Procedures Law was issued ... ( read original story ...)