Dubai: Dubai Islamic Bank PJSC (“DIB”), rated A3 by Moody’s and A by Fitch successfully priced its inaugural Sustainable Sukuk – a landmark USD 750 million 5-year senior issue with a profit rate of 5.
Dubai’s DIB raises $750m from debut sustainable sukuk issue
Dubai Islamic Bank, the UAE’s biggest Sharia-compliant lender by assets, has raised $750 million through the sale of its debut sustainable sukuk as it diversifies its financing base. DIB priced the …
Dubai: No impact of interest rate hike on property market, say industry executives
The increase in mortgage rates has not dented demand for properties in Dubai as only one-quarter of investors are opting for mortgages. Local real estate industry executives noted that mortgage rates …
Al Maryah Community Bank wins the “Best Neo Bank” award in the Middle East
The winners were selected according to the highest standards of efficiency and innovation based on the evaluation by a panel of experts specialized in financial and banking products and services …
COP28 will be the UAE’s most important event in 2023: Sheikh Mohammed
UAE was the first country in the region to ratify the Paris Agreement and to announce a strategic initiative to achieve Net Zero by 2050, said Dr Al Jaber …
Beware deterioration in asset quality as Gulf IPO boom continues
Saudi Arabia and the UAE have shown impressive progress developing their equity capital markets this year, but deteriorating asset quality is a worry for Middle East IPO bankers …
Citigroup builds up investment banking team in Middle East to tap hot IPO market (updated)
Citigroup (C) bulking up its investment banking operations in the United Arab Emirates and Saudi Arabia, as it seeks to profit from surging growth in the Gulf market for …
Citigroup builds up investment banking team in Middle East to tap hot IPO market
Citigroup (C) bulking up its investment banking operations in the United Arab Emirates and Saudi Arabia, as it seeks to profit from surging growth in the Gulf market for …
UAE economy projected to grow over 6 per cent in 2022, says IMF
The UAE economy is projected to grow above 6 per cent in 2022, after expanding by 3.8 per cent in 2021, the International Monetary Fund has said.
UAE set for strong near-term growth after a robust 2022: IMF
Overall, GDP growth is projected to reach above six per cent in 2022, higher than the previous forecast, and recording a remarkable increase from a 3.8 per cent surge in 2021 …
Dubai airport chief says passengers top pre-pandemic level
The CEO of Dubai International Airport says passenger numbers for the third quarter of 2022 have surpassed pre-COVID-19 pandemic levels …
Saudi discussing $5 billion deposit for Turkey – Saudi finance ministry spox
REUTERS/Cagla Gurdogan DUBAI, Nov 22 (Reuters) – Saudi Arabia and Turkey are discussing a $5 billion deposit at Turkey’s central bank, a Saudi Ministry of Finance spokesperson said on Tuesday. “We are …
UAE-based fintech Qashio raises $10m in a seed round
Qashio virtual and physical cards combined with its software allow firms to manage their spending in a more automated and transparent way.
UAE Banks Federation reiterates importance of supporting SMEs
The UAE Banks Federation underscored the importance of providing appropriate banking and financing solutions to SMEs …
UAE Banks Federation reiterates the importance of supporting small and medium enterprises to enhance economic development
The UAE Banks Federation, the unified representative and voice of UAE banks, recently organised a webinar on growth opportunities and innovation of banking solutions for small and medium enterprises …
Azizi inks pact with Dubai South for mega plot of land
Azizi Developments signed a deal with Dubai South on Tuesday, acquiring a plot of land of 15 million square, with a gross floor area (GFA) of nearly 24 mil..
UAE’s fintech Qashio raises $10 million Seed to accelerate KSA expansion
UAE-based fintech Qashio, has raised $10 million in a Seed round through a mix of equity and no equity financing. Investors …