The impairment charges weighed on other bank stocks – shares of Dubai Islamic Bank were down 1.1 per cent, alongside UAE’s largest lender First Abu Dhabi Bank, which dropped 4.6 per cent.
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Dubai’s Grand Mufti confirms that Zakat can be paid to those affected by Covid-19
Every person whose finances permit must help the needy or those affected by the global crisis this year, the director added. The UAE Food Bank, Mohammed bin Rashid Al Maktoum Humanitarian and Charity …
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UAE Health Insurance Third Party Administrator Market – Key Drivers for the HITPA Market in UAE – ResearchAndMarkets.com
The UAE regulatory authorities (especially Dubai Health Authority) have created a key differentiation … The acquisition was carried out at the time the company was in the process of going public …
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Dubai’s Deyaar to go ahead with capital restructuring plans
Dubai-based Deyaar Development is to proceed with capital restructuring plans. Shareholders of the property developer had approved plans at the recent annual general meeting to reduce Deyaar’s capital …
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Asset buffers and fiscal discipline protect Abu Dhabi from external shocks, says finance head
The emirate’s Department of Finance last week partnered with First Abu Dhabi Bank … “The stimulus packages launched by the government of Abu Dhabi and the Central Bank of the UAE have created …
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UAE banks use 30% of Covid-19 central bank support fund
Banks in the UAE have availed 30 percent of the AED50 billion ($13bn) Targeted Economic Support Scheme (TESS), according to the Central Bank of the UAE (CBUAE). The scheme was launched on March 15 to …
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Central Bank of UAE monitors banks’ utilisation of Targeted Economic Support Scheme
he Cental Bank of UAE (CBUAE) is closely monitoring banks’ utilisation of the Targeted Economic Support Scheme (TESS) programme for the benefit of individuals, small and Medium Enterprises (SMEs) and …
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Combating coronavirus: No need to pay instalment, interest during deferred period, says Central Bank
Any interest accrued during the deferment period on the principal amount will be paid by the customer at a later date. The UAE Central Bank on Sunday said that customers affected by the Covid-19 …
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India sends hydroxychloroquine to UAE for COVID-19 patients
India has agreed to send hydroxychloroquine tablets to the United Arab Emirates to be used for treating COVID-19 patients, the Gulf Arab state’s embassy in New Delhi said. India last month put a ban …
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Coronavirus news bulletin from UAE: 477 new cases confirmed; Dubai extends 24-hour sterilisation programme; Muslims can perform Taraweeh at home
Dubai on Friday said the 24-hour sterilisation campaign will be extended by another … Energy, communication, health, education, security, police, military, freight, pharmaceuticals, water, food, …
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COVID-19 response: Relaxations in IFRS 9 give UAE banks more flexibility to support creditors
Dubai: In a recent move the Central Bank of UAE (CBUAE) has issued a new requirement for all banks to apply a prudential filter to International Financial Reporting Standards 9’s (IFRS 9) expected …
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Money transfer firm TransferWise begins operating in UAE
Digital money transfer service TransferWise has begun operating in the UAE, the company has announced. The announcement comes six months after the tech firm was granted a license to bring its low-cost …
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Middle East and North Africa Mergers and Acquisition transactions totalled US$14.8 billion in Q1 2020
The United Arab Emirates was the most targeted nation … despite a 50% decline in the number of deals. One initial public offering was recorded during the first quarter. Saudi Arabian private …
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‘UAE banking sector resilient because of government support’
Resilience – this was the key word and highlight of the UAE banking sector outlook report that was released at the beginning of this year by S&P Global Ratings, and it essentially encapsulates the …
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RoboAds Inc., UAE Robotics Startup, Develops New Generation of Service Robots to Aid Medical and Security Staff on Coronavirus Frontline
UAE based Robotics startup, RoboAds Inc., has developed a new generation of telepresence robots to aid healthcare and security staff on virus frontlines. As thousands of healthcare staff around the …
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G20 Finance Ministers, Central Bank Governors Hold Virtual Meeting to Address COVID-19 Challenges
The finance ministers and central bank governors of the G20 group of the world’s largest economies started on Wednesday a virtual meeting to further address the global challenges presented by the …
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Dubai Weighs Bond and Emirates Loans as Virus Hits Economy
Dubai is in talks with bankers about shoring up its finances and the emirate’s flag carrier is mulling billions of dollars of loans, as the coronavirus pandemic hammers the economy.The government is …
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