We invest to demonstrate our commitment to developing the sector and to help drive sustainable economic growth for Dubai. These start-ups will help us drive the future of finance.” The fintech fund …
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UAE- Central Bank withdraws AED34.15 bn of surplus liquidity in five months
ABU DHABI, 25th June, 2020 (WAM) — The Central Bank of the UAE has withdrawn AED34.15 billion out of excess liquidity in the market during the first five months of 2020 after it met the market needs …
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UAE confirms virus teamwork with Israeli firms, though not with Netanyahu gov’t
Abu Dhabi mum on state-to-state collaboration with Israel on fighting coronavirus, despite PM declaring imminent announcement from both countries’ health ministries …
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UAE: How do you manage loans that might be overwhelming you during COVID-19?
Dubai Courts decided that rather than imprisonment, they would start issuing fines for these offences which will give people the breathing space they need to get into a better position to manage their …
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Hub71 collaborates with UAE banks to help SMEs
The entities have also launched a whitepaper titled, ‘Rethinking Banking for Startups’, which explores the challenges that startups face when opening a UAE bank account. The whitepaper aims to foster …
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ADNOC’s $20bln deal marks UAE as top investment hub, will trigger more deals
ADNOC has signed a mega deal with a consortium of infrastructure investors and sovereign wealth and pension funds to invest in select ADNOC gas pipeline assets valued at $20.7 billion. Besides …
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Dubai mortgage platform sees 300% rise in applications during Covid-19
While one of the main barriers to launching Holo in the UAE was the real estate and banking sectors’ reliance on traditional, manual processes, Covid-19 accelerated the move to fast and easier digital …
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Second wave concerns spook UAE investors
The rise in coronavirus infections across United States has triggered concerns of a second wave and has hit global stock markets hard. UAE indices were also not spared as DFM declined by 0.47 per cent …
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How the UAE financial sector is adapting to a post-pandemic world
Financial Technologies report, it said that the cornoavirus, “is an important opportunity for private sector entities to accelerate the digitisation of financial services”. While most sectors such as …
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Exclusive: A ‘V-shaped’ Recovery for the UAE?
The hopes for the so-called ‘V-shaped’ recovery are alive and well. However, these hopes could easily turn out to be premature. According to researchers at Karolinska Institute in Sweden and the …
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Coronavirus: How the Covid-19 pandemic prompted digital transformation in UAE media industry
An industry survey in the UAE has gathered insights from media professionals and … adopting alternative sources of finance to avert financial crises, as well as the progressive reduction of print …
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UAE- AMF releases general guidelines for central banks to deal with implications of natural disasters on financial stability
ABU DHABI, 24th June, 2020 (WAM) — In the framework of its mandate to offer the support to its member states in the field of economic, financial and monetary reforms promoting financial stability in …
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UAE start-ups take an average of 63 days opening a bank account, Hub71 report shows
The average time spent opening a bank account could be reduced to five days if documentation processes are simplified …
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Commercial Bank Dubai and Thunes partner to offer real-time international remittances
Commercial Bank of Dubai, one of the leading national banks in the UAE, and global cross-border payment provider Thunes announced a partnership that will facilitate real-time cross-border transaction …
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Hub71 collaborates with UAE banks to solve banking pain points for startups
This follows the launch of Hub71’s whitepaper which explored the challenges that startups face when opening a UAE bank account. The whitepaper, titled: Rethinking Banking for Startups aims to foster …
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UAE: Adapting to the online way of working your finances and investments in a pandemic
When living in uncertain times and staying at home remains our best option, it is vital one adapts to the online way of working your finances. Although we currently live in a pandemic-struck period, …
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The Debt Panel: ‘Can my bank seize my gratuity to pay my mortgage if I leave the UAE?’
PD, Dubai Firstly, when my final salary payment hits my account, will the bank freeze my account? Will this in turn make it difficult for me to travel as I won’t be able to clear the rest of the …
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