The collaboration would provide fintech startups and established companies access to Mastercard’s network and expertise and DIFC’s financial ecosystem.
UAE property developer DAMAC sells $400 mln Islamic bond
Dubai-based real estate developer DAMAC on Tuesday sold a three-year $400 million Islamic bond, or sukuk, amid a strong rebound in the emirate’s real estate sector.
UAE and South Africa look to boost trade and investment opportunities
The UAE and South Africa held high level meetings on Wednesday to enhance bilateral trade and investment opportunities. The two sides also explored avenues to promote development in key sectors such …
Dubai Islamic Bank posts 12% surge in quarterly profit on higher revenue
Dubai Islamic Bank’s balance sheet expanded by 1.3 per cent YTD to Dhs292bn while customer deposits settled at Dhs198bn …
This International Bank Appointed the First Emirati Woman CEO
Citibank, N.A. UAE Onshore Branch in the United Arab Emirates announced the appointment of Shamsa Al-Falasi as Chief Executive Officer. Shamsa will also take on the responsibilities of Chief Administr …
How soon will UAE’s private businesses sign up for an IPO?
Laws of the land and investors are ready for more listing actions from its private sector First quarter IPO action has been solid, but the UAE capital markets could still do with more private …
UAE: Number of Emiratis working in private sector grows by 11% in first three months of 2023
The ‘remarkable’ growth was hailed by MoHRE, who predict that the trend is expected to continue for the rest of the year …
Dubai waives Dh146m in housing loan repayments for low-income citizens
Dubai will waive Dh146 million in outstanding housing loan repayments for 426 low-income citizens. Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, said the gesture was made in an effort to boost …
Dubai Islamic Bank’s profit jumps 11% on strong fee income
Dubai Islamic Bank, the UAE’s biggest Sharia-compliant lender by assets, reported an 11 per cent increase in its first-quarter profit on higher fee income. Net profit attributable to owners of the …
Dubai announces global ‘House of the Future’ competition
Total prizes of AED1 million being offered for an affordable, expandable and innovative house that meets modern Emirati needs Dubai announces global ‘House of the Future’ competition Architecture, …
UAE Corporate tax: Small Business Relief scheme to support start-ups
The UAE Ministry of Finance has recently issued Ministerial Decision No. 73 of 2023 on Small Business Relief for the purposes of the UAE Corporate Tax Law. The relief is designed to support start-ups …
Dubai Islamic Bank First Quarter 2023 Group Financial Results
Dubai Islamic Bank (DFM: DIB), the largest Islamic bank in the UAE, today announced its results for the period ending March 31, 2023.
UAE Banks Witness 8.5 percent Increase in Total Capital, Reserves
According to the Central Bank of UAE’s monthly report on monetary, banking, and financial developments, UAE banks witnessed an 8.5 percent increase i …
Dubai Islamic Bank posts 12% rise in Q1 profit, beats estimate
Dubai Islamic Bank, the UAE’s largest Islamic lender, posted a 12% jump year-on-year (YoY) in its Q1 2023 net profit to 1.5 billion dirhams ($408 million), driven by higher revenues and lower …
UAE: International bank appoints first Emirati woman CEO
She joined the bank as a graduate in 2004 and has since worked across many geographies including Dublin, London, and Sao Paulo, before being appointed as senior business and relationship manager for …
UAE: Eid Al-Fitr holiday in financial markets from 29 Ramadan to 3 Shawwal
The Securities and Commodities Authority announced that the Eid Al-Fitr holiday for both the Abu Dhabi Securities Exchange and the Dubai Financial Market will start on the day after tomorrow, Thursday …
UAE Minister for Financial Affairs Forecasts Fall in Inflation, Positive Economic Growth
The UAE’s Minister for Financial Affairs, Mohamed Hadi Al Hussaini, has forecasted a fall in inflation to 3.2 percent by the end of 2023, down from 4 …