Tag: finance

The first blockchain-based trade finance deal in the global steel industry has been struck – and it involves a UAE-based business. The transaction was done by UAE’s Universal Tubes & Plastic …
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Dubai: The Central Bank of the UAE (CBUAE) imposed a financial sanction on an exchange house operating in the UAE for violating the law on Anti-Money Laundering and Combating the Financing of …
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HSBC has successfully executed a blockchain-enabled, live trade finance transaction between the UAE’s Universal Tubes & Plastic Industries Ltd and India’s Tata Steel Ltd. The Contour blockchain …
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First Abu Dhabi Bank (FAB), the UAE’s largest bank, on Wednesday reported a group net profit of Dh 2.5 billion in the first quarter of 2021, up 3 per cent compared to Dh2.4 billion in the first …
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UAE Trade Connect (UTC), a trade finance solution that addresses the risk of double financing and fraud across the United Arab Emirates, has moved into full commercial production. Having been in …
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Saudi Tadawul Group has short-listed three local and three foreign banks for potential advisory roles in the financial market company’s upcoming initial public offering (IPO), three sources said.
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Promoter Zurich Capital Funds Group says it plans to line up cross-border alliances Dubai: A Sharia-compliant digital bank has been set up – Rezq/Baraka has launched operations from the UAE and will …
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UAE-based Universal Tubes & Plastic Industries and India’s Tata Steel has executed the global steel industry’s first blockchain-based live trade finance deal. The transaction enabled the digitisation …
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The digital bank is a venture from Zurich Capital Funds Group. “Our main challenge is to create a digital bank compatible with Islamic law, accommodating fast responses to fit into modern life,” said …
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Buy now, pay later” options let consumers break up their purchases into installment payments without interest or fees …
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Tristar Transport, a leading global integrated liquid logistics solutions provider headquartered in Dubai, UAE, has announced its intention to proceed with an initial public offering (IPO) on the …
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The UAE chapter of the International Chamber of Commerce (ICC UAE) concluded the International Trade & Finance Conference, themed ‘The Road to …
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A new blockchain technology which could prevent losses in trade finance of up to 1 billion dirhams annually has gone live in the UAE. The new platform has the capability to prevent duplicate invoices, …
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One of the first commercialised blockchain applications in the country, the platform will create an ecosystem for multiple trade-related entities …
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The United Arab Emirates today launched a new blockchain-based platform called UAE Trade Connect that’s designed to prevent economic crimes such as under-invoicing, money laundering and fraud in trade …
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The UAE was already a fintech pioneer but Covid turned it into a leader. Banks and government agencies are furiously rolling out blockchain-backed services that do everything from seamless KYC checks …
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Problem loans at banks in the UAE are likely to increase further once borrower support measures are lifted, S&P Global Ratings said on Sunday. The ratings agency has also given the local banks a group …
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