LONDON/RIYADH/DUBAI — Saudi Crown Prince Mohammed Bin … With Aramco talking again to banks about an initial public offering (IPO), its board is meeting later this week and will probably …
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GCC Islamic bank mergers likely to increase, says Fitch
Islamic bank mergers and acquisitions in the GCC region are likely to increase as many banks still lack the market position needed to compete with large established peers, particularly in overbanked …
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Profit at large UAE banks to decline modestly in 2019, Moody’s says
The four big banks — First Abu Dhabi Bank, Emirates NBD, Abu Dhabi Commercial Bank (ADCB) and Dubai Islamic Bank — account for more than two-thirds of the UAE’s banking sector assets. A large, one-off …
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Largest UAE banks report H1 2019 net profit growth
The UAE’s four biggest banks increased their combined H1 2019 net profit by 19 billion dirhams ($5.3 billion), according to a report published on Wednesday. First Abu Dhabi Bank (FAB), Emirates …
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Being mis-sold an investment leaves a hole in your financial future
he returned to the UAE to roll out the venture in Dubai last year. Unfortunately, the traditional financial industry wasn’t designed to be fair, it was designed to make money. Mark Chahwan, chief …
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Dubai regulator imposes its largest fine over Abraaj saga
DUBAI — The Dubai Financial Services Authority (DFSA) said on Tuesday it had fined two entities of private equity firm Abraaj $315 million, the largest financial penalties it had ever imposed. …
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Winds Of Change: Preparing For The Future Of Banking
Notably, over 80% of urban consumers in the UAE and KSA plan to use their phones or other devices to fulfill their banking needs, according to McKinsey. For bankers, this trend offers a critical, time …
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AU, Noor Bank launch Dhs3.2m fund
and in a bid to promote Islamic banking and finance industry, have launched the first of its kind waqf (endowment) initiative in the UAE with a capital base of Dhs3.2 million. The move followed a …
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Fraudster steals Dubai resident’s rent money to buy smartphones
Armed with evidence of the bank fraud, she elevated her complaint with the UAE Central Bank on June 9. When contacted, an Emirates NBD spokesperson confirmed that the incident took place and they …
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Right time to invest? UAE equities attractive on low valuations, positive indicators
Lastly, the consolidation which has started in the UAE’s banking sector, is already beginning to reflect on the sector’s profitability. Shailash Dash, a financier and entrepreneur, said that the …
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Senior Relationship Manager – Corporate Banking – Real Estate – Michael Page International (UAE) Limited – Dubai Jobs
We are partnered with one of Dubai’s largest, leading banks for a Large Corporate Relationship Manager looking for growth into a Senior or Director-level role. Applicants must have a strong Real …
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UAE- Trade Bank of Iraq Continues Strong Annual Growth and Records Impressive Financial Results
Annual audit of TBI’s performance, complied by Ernst and Young, show a 20% increase in net operating income and a 30 % increase in funds held in customer accounts Dubai, United Arab Emirates, 04 …
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New fund to promote Islamic finance in UAE
initiative to promote the Islamic banking and finance industry in the UAE, a media report said. The move followed a landmark agreement signed between the two parties to establish the Noor Fund for …
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Abu Dhabi Commercial Bank Partners with Silicon Valley’s Plug and Play to Join Global Ecosystem of Financial Institutions
ABU DHABI, United Arab Emirates, Aug. 5, 2019 /PRNewswire/ — Abu Dhabi Commercial Bank (ADCB) has announced its partnership with Plug and Play, the largest global innovation platform …
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Saudi leads IPO activity in region
Dubai: Saudi Arabia led the primary market activity … one of the largest IPOs in the country with proceeds of $658.7 million, was the first IPO that allowed the sale of securities to qualified …
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UAE start-ups attract talent with stock options over salaries
Wamda Capital has invested in start-ups across the Middle East and Africa, including several prominent ventures in the UAE, such as Souq, Careem, e-commerce platform Mumzworld and financial comparison …
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UAE firms launching IPOs abroad a ‘troubling sign’, says Daman Investments chairman
Relatively little IPO activity has taken place locally since late 2017, when Emaar Development sold $1.3 billion in new shares. A number of companies, however, such as Dubai-based payments provider …
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