CBD will offer business loans to Network’s retail and ecommerce clients against their Point of Sale machines or payment gateway proceeds.
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UAE and Saudi central banks awarded 2021 Global Impact Award
Recognition is for digital cross-border payment initiative Project Aber Archives Abu Dhabi: The Central Bank of the UAE (CBUAE) and the Saudi Central Bank (SAMA) have been awarded the Global Impact …
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Dubai Islamic Bank successfully closes lowest priced USD 1 billion senior Sukuk
Dubai: Dubai Islamic Bank PJSC (“DIB”), rated A3 by Moody’s and A by Fitch today successfully priced a landmark USD 1,000 million 5 year Sukuk issue with a profit rate of 1.9590% per annum. This …
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UAE Islamic Banks Dashboard: 2020 Results
The UAE remains a key Islamic finance hub. Islamic financing and deposits accounted for 29% and 26% of total sector financing and deposi …
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Malabar Group’s overseas arm lists on Nasdaq Dubai Private Market
While, with this registration, shares of Malabar Investments will be not be publicly traded, private trading of the securities will take place through Emirates NBD Securities, said the company, which …
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Mena IPO market set to rebound on back of new state initiatives
The Central Bank of the UAE expects economic activity to continue to pick up, supporting positive growth of 2.5 per cent during 2021.
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Gulf IPO activity disappoints in Q1 as global markets hit 20-year high
Middle East and North Africa sees just three IPOs raising $294.8m during the first quarter of 2021, down 64% on Q1 2020 …
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Germany buys data from Dubai in crackdown on tax fraud
Germany has purchased data from an anonymous source in Dubai on millions of taxpayers worldwide in a bid to crack down on tax evasion, the finance ministry said Wednesday. The data provides …
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Germany steps up tax evader crackdown with Dubai data purchase
Germany’s finance minister has ordered the purchase of data on Germans with assets in Dubai, the United Arab Emirates, as part of efforts to combat tax evasion, following similar purchases by regional …
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Dubai Islamic Bank closes $1b senior sukuk
Dubai: Dubai Islamic Bank successfully priced $1 billion 5 year sukuk issue with a profit rate of 1.95 per cent per annum. This transaction represents the lowest ever pricing achieved by DIB on any of …
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Dubai Islamic Bank closes lowest-priced $1bn sukuk
Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE by assets, has priced a landmark $1,000 million five-year sukuk issue with a profit rate of 1.9590% per annum. This transaction represents …
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UAE and Saudi central banks awarded the 2021 Global Impact Award
A first-of-its-kind joint initiative emanating from the CBUAE’s and Saudi Central Bank’s shared commitment to innovation, Project Aber, as a proof-of-concept, aims to explore whether distributed …
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Saudi Arabia and the UAE dominate Forbes Top 50 Middle East Banks list
In 2019, ADCB merged with Union National Bank and Al Hilal Bank to form the ADCB Group, which is the UAE’s third largest bank. In 2020, Dubai Islamic Bank, which was already the largest Islamic …
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Dubai’s Damac appoints new chairman, forms committee to assess Sajwani’s offer
Hussain Sajwani resigned as its chairman last week after his investment firm offered to acquire 100 per cent of Damac …
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Central Bank of UAE seeks private sector participation in anti-money laundering efforts
Unifying efforts has contributed to raising the UAE’s compliance AML/CFT framework Abu Dhabi: Khaled Mohamed Balama, Governor of the Central Bank of the UAE on Tuesday, co-chaired a meeting in the …
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UAE Diplomats Accused in International Gold Smuggling Syndicate
The United Arab Emirates is a key hub for gold trading linked to money laundering, organized crime and terrorist financing.
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Dubai Islamic Bank sells $1 billion in 5-year sukuk
Dubai Islamic Bank, the United Arab Emirates’ largest Islamic lender, sold $1 billion in five-year sukuk on Tuesday after receiving more than $2.8 billion in orders for the Islamic bonds, a document …
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