LAGOS- Nigeria plans to draw up a supplementary budget for COVID-19 vaccinations in March, the finance minister said on Thursday. Zainab Ahmed told reporters in the capital Abuja that the government …
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UAE Central Bank fines individual Dhs600,000 under anti-money laundering law
The fine was imposed because the individual had no authorisation to undertake a function that required prior approval from the Central Bank.
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100% Foreign Ownership of Companies In UAE
Introduction A presidential decree was passed in the United Arab Emirates on November 23rd, 2020, under which some imperative changes were made in the federal law no. 2 of 2015, namely the companies …
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Turkish renewable energy producer Aydem applies for IPO
ISTANBUL- Aydem Yenilenebilir Enerji, one of Turkey’s largest renewable energy producers, said on Tuesday it applied to the country’s capital markets watchdog for an initial public offering (IPO), …
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How breaking ‘UAE norm’ earned Emirati entrepreneur start-up success
The Emirati had gone through what he described as the “UAE norm”, which was “to get a job, get promoted quickly and get to the top very quickly”. With a background in the financial sector, he would …
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Dubai Islamic Bank becomes the 10th bank to join the SBP’s Roshan Digital Account initiative
Dubai Islamic Bank – the World’s First Islamic bank – today joined the Roshan Digital Account (RDA) initiative of the State Bank of Pakistan (SBP) in a ceremony with Governor SBP, Dr. Reza Baqir, as …
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HKMA and BOT partner with PBoC and UAE’s Central Bank to develop an m-CBDC
The Hong Kong Monetary Authority (HKMA) and the Bank of Thailand, have joined hands with UAE’s Central Bank (CBUAE) and the Digital Currency Institute of the People’s Bank of China (PBoC) in a FinTech …
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Dubai Islamic Bank donates AED1 million to Al Jalila Foundation to help patients in need
Donation supports Foundation’s A’awen programme, which provides assistance to patients in need of financial aid for medical care …
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Egypt’s Banque du Caire eyes slimmed-down IPO post-Covid
Banque du Caire was on the cusp of completing a $500 million listing in London and Cairo last year when Covid hit. Its chairman Tarek Fayed talks to Euromoney about investing in people and digital – …
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UAE-based Shuaa Capital boss ‘bullish’ on post-Brexit Britain
Jassim AlSeddiqi, group CEO of UAE-based Shuaa Capital, has revealed he is “bullish” about the investment opportunities in the United Kingdom and said that its contentious and protracted exit from the …
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UAE Central Banks latest
The total assets of the Central Bank of the UAE grew 6.6 per cent to hit AED470.5 billion ($128 billion) by the end of December, according to the latest official statistics. The significant growth was …
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UAE is best in region for women economic empowerment
The UAE also achieved a full score in five indicators in the latest report: Movement, Workplace, Wages, Entrepreneurship, and Pension.
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UAE Exchange suitor in merger talks with Bahrain-headquartered BFC Group
The consortium behind the acquisition of UAE Exchange is in advanced discussions with BFC Group Holdings over a potential merger that would create a regional financial services powerhouse. Prism Group …
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UAE, China’s central banks join Hong Kong, Thailand’s cryptocurrency project
The participating central banks will evaluate the project’s feasibility for cross-border fund transfers and capital market transactions, among others.
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Kuwaiti banks’ non-performing loans increase to 2% amid COVID-19 crisis – central bank
The non-performing loan ratio has seen only slight increases, and is still at historically low levels,” the central bank cited its governor Mohammad al-Hashel as saying …
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Beijing is exploring digital yuan cross-border payments by joining with Hong Kong, Thailand, UAE and the Bank of International Settlements
The People’s Bank of China is joining the Multiple Central Bank Digital Currency Bridge, a project exploring cross-border payments using distributed ledger technology, the latest step in Beijing’s …
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Saudi bank profits face strain in 2021 despite economic recovery
Dubai: Saudi banks could find it tough to maintain profitability in 2021 as the Saudi Central Bank lifts its support measures and interest rates expected remain low, according to Standard & Poor’s …
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