The central bank has developed a fintech strategy that comprises of fivepillars. These include: (i) research and the application of potential fintech solutions to address the need …
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UAE not planning VAT hike, finance minister tells Al Arabiya
The UAE has no plans to increase its value-added tax rate, its finance minister told Al Arabiya TV on Monday, after Saudi Arabia said it would triple its rate.
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Dubai real estate fund says irregular trading dented share price
A downturn in the United Arab Emirates’ real estate sector and resulting investor sentiment had contributed to its low share price …
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Coronavirus: Your outstanding bank loan could lead to travel ban in UAE
It should be noted that any bank or approved financial institution in the UAE has to follow the guidelines laid down by Central Bank of UAE while lending personal loans or providing credit card …
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Abu Dhabi’s NMC Health’s finance chief gets a seat on India’s repatriation flight
How can someone holding one of the most senior management roles at NMC get on this flight?” said one member of the staff at the Abu Dhabi headquartered hospital operator. “ …
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Dubai Stocks Fall in Mixed Trading; Kuwait Retreats: Inside EM
Stocks in Dubai dropped the most in a week amid mixed share trading across the Middle East and Gulf region.The DFM General Index retreated more than 2% while the main gauge in Qatar advanced 1.2%.
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Post COVID-19: Finance will secure Dubai’s future
The overall financial services sector was the third largest sectoral contributor to Dubai’s real GDP in 2018, generating Dh40.4 billion and representing 10.3 per cent of its tot …
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UAE launches initiative for Islamic finance
UAE launched a new initiative to create a unified global legal and legislative framework for the Islamic finance sector. This was announced by Sheikh Hamdan bin Rashid Al Maktoum, Minister of Finance …
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UAE-based Growmore Group Acquires Medicinos Bankas, Lithuania’s Leading Retail Bank With Assets of US$395 Million
Backed by diversified revenue streams, a resilient net interest margin and sustained profitability, Medicinos Bankas has healthy fundamentals with deposit portfolio at US$334 million. Nitin Shelke, …
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UAE-based Growmore Group acquires Medicinos Bankas
UAE-based Growmore Group has bought Medicinos Bankas, Lithuania’s leading retail bank with assets of $395 million. The acquisitions marks the expansion of the global investment and financial services …
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UAE launches initiative to build unified global legislative framework for Islamic finance
Sheikh Hamdan bin Rashid Al Maktoum, Minister of Finance and Governor of the Islamic Development Bank for the United Arab Emirates, on May 6, announced the launch of a new initiative to create a …
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UAE takes lead to set up unified legislative framework in Islamic finance
The UAE has launched an initiative to create a unified global legal and legislative framework for the Islamic finance sector that will enable the Islamic economy to expand its reach and implement …
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Oman crude crosses $30-mark on Tuesday
Muscat: The Oman crude for July delivery was traded at Dubai Mercantile Exchange for $30.05 per barrel … Reflecting hopes that the oil industry may have passed the worst of coronavirus-induced …
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New UAE app allows for quick detection of coronavirus cases
The free app is a combination of the Stay Home and Trace Covid apps previously launched by the Department of Health An app has been launched by the Departments of Health in Abu Dhabi and Dubai to …
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Dubai fund snaps up $1.25bn Och Ziff stake
Dubai International Capital, the state-backed investment fund, is set to buy a 9.9 per cent stake in Och-Ziff Capital Management, the American hedge fund. Och-Ziff yesterday agreed to sell the …
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UAE launches initiative for global legislative framework for Islamic Finance
Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, Minister of Finance and Governor of the Islamic Development Bank for the United Arab Emirates, announced the launch of the new initiative …
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Dubai developer Nakheel slashes salaries due to coronavirus crisis
Dubai property developer Nakheel has slashed salaries by as much as 50% as it tries to weather the coronavirus crisis, according to an internal email seen by Reuters, and its chief executive resigned …
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