Fully-fledged Islamic banks’ assets in the UAE during 2020 accounted for about 19 per cent of total banking system assets, while Islamic windows’ [Islamic financial services offered by conventional …
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Woonkly to Sponsor the Most Prestigious Blockchain Congress in Dubai
TALLIN, ESTONIA / ACCESSWIRE / June 18, 2021 / The tech company will be the main sponsor of the Global Blockchain Congress in Dubai on June 21 and 22. Woonkly, the startup that aspires to become a …
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UAE Central Bank finds banking sector resilient in its new Financial Stability Report
Dubai: Key solvency and liquidity indicators that demonstrate the resilience of the UAE’s financial system amid the COVID-19 pandemic remained robust according to the Central Bank of the UAE’s (CBUAE) …
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UAE central bank expects GDP growth as country recovers from COVID restrictions
The central bank of the United Arab Emirates said the country’s gross domestic product will grow 2.4% this year and 3.8% in 2022 as the economy recovers from restrictions imposed during the COVID …
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Saudi Arabia dominates slow MENA IPO market in Q1
MENA IPOs lagged the global market in Q1, which was the best first quarter in terms of both deal numbers and proceeds for the 20 years …
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Meet the Paytm ‘mafia’ who have set out to carve their own path
There is something about Paytm. The Indian multinational technology company has encouraged the spirit of entrepreneurship, pushing its team members to think big and out of the box. The outcome is …
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India’s entrepreneur Nikhil Kamath strikes gold with Middle East investors
True Beacon Global, Kamath’s new international fund, sees a 20 percent month-on-month jump in investments from the region …
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UAE central bank raises benchmark interest rate in step with Fed
The United Arab Emirates central bank raised its key overnight interest rate by 5 basis points on Thursday, in step with a similar move by the U.S. Federal Reserve a day earlier. DUBAI, June 17 …
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Investor sells $300 mln worth of shares in UAE’s ADCB -term sheet
An undisclosed investor has sold 1.1 billion dirhams ($300 million) worth of shares in Abu Dhabi Commercial Bank (ADCB.AD), United Arab Emirates’ third-biggest lender, a term sheet seen by Reuters …
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UAE Central Bank raises interest rate by 5bp after US Fed move
Dubai: The UAE Central Bank has raised the base rate on the Overnight Deposit Facility (ODF) by 5 basis points from Thursday (June 17). This decision was taken following the US Federal Reserve Board’s …
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UAE is world’s 9th most competitive economy
Improvements in education, healthcare and economy helped UAE maintain its position as the most competitive economy in the region and 9th worldwide …
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UAE central bank raises base rate by 5 basis points
The United Arab Emirates central bank on Thursday raised the base rate applicable to the Overnight Deposit Facility (ODF) by 5 basis points.
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The news that’s not fit to print
And I say “ news channel” also quite loosely given that it is explicitly based not around bulletins or breaking news but around sofas where its roster of provocation-seeking presenters will be …
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Simplifying finance with technology
More recently, the bank co-created UAE Trade Connect, a nationwide blockchain platform, with Etisalat Digital and seven other banks; this platform aims at supporting financial institutions combat …
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Commercial Bank of Dubai partners with Network International for pre-approved business loans
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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