Discussions also centred on the challenges and opportunities in promoting Islamic financial instruments in China with a focus on Islamic Sukuk. The impact of Dubai’s emergence as the largest Islamic Sukuk hub in the world on Chinese companies was tackled …
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Evolution of e-banking in the UAE
The banking industry, integral to our commercial and personal lives, has evolved with the times to embrace new challenges and cater to constantly changing consumer behaviour and attitudes. Technology has undoubtedly played an obvious and increasingly …
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UAE banks poised for strong H2 performance
Dubai: Financial results of UAE banks in the second quarter of this year point to improving profitability, modest balance sheet growth, margin expansion and improving costs, according to banking sector analysts. While the underlying trend of a turnaround …
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Dubai still in lead, but race for Gulf financial supremacy is hotting up
The Dubai International Financial Center (DIFC) last week gave an update on the impressive plans it has to expand — both physically and commercially — as part of a 10-year plan that aims to triple its size by 2024. On the real estate side of the …
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Dubai’s Noor Bank cuts dozens of jobs
Dubai-based Noor Bank has laid off several dozen employees, banking sources told Reuters on Tuesday, the latest lender to adjust to more subdued growth levels in the local financial services sector. Although the number of jobs cut in the past few weeks was …
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Abu Dhabi Islamic Bank invests heavily in digital services
Details on entering MEED’s new awards programme can be found below As the UAE’s banking industry becomes ever more competitive, Abu Dhabi Islamic Bank (ADIB) says it will continue with its current strategy based on prudence in risk management …
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UAE’s Union National Bank opens Shanghai branch
Union National Bank (UNB), 50 percent owned by the Abu Dhabi government, has begun operations at its branch in Shanghai, becoming the first bank from the UAE to operate a branch in mainland China, the bank said on Tuesday. The Shanghai presence will …
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Deposits in UAE Banks Surge to $120 Billion in H1
according to UAE Central Bank statistics. The term ‘Short Term Deposit’ refers to an amount of money placed in a bank or financial institution for a term no longer than one year. It will usually earn a fixed rate of interest. According to Central Bank data …
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UAE bank profitability slips slightly in second quarter, Alvarez & Marsal survey shows
UAE banks saw profitability decrease in the second quarter because of lower non-interest income but on the bright side net interest margins are increasing, according to the latest UAE Banking Pulse report from Alvarez & Marsal, the global professional …
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Make no mistake: Mobile is the future of banking
Instant. Accessible. Convenient. All words to define what mobile banking means today for customers in the UAE and Middle East, and across the world, and indeed what they now expect from banking services. We’re seeing banks today recoiling from large …
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Dubai’s Noor Bank Downsizes in Huge Restructuring: Sources
Noor Bank has allegedly made dozens of redundancies at its branches this week, with up to 200 redundancies in total planned, according to media reports. Noor Bank has issued a statement saying that these redundancies are part of its restructuring programme …
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UAE banks blank cheque abuse continues to shock the international banking community
Outmoded blank security cheque system wide open to abuse, claim critics UAE banks still demand blank cheques as security for credit. They can quite legally fill out the amount themselves and cash the cheque whenever they see fit, regardless of whether …
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UAE FTA to open online VAT registration mid-September 2017
“The UAE has reached a very advanced stage regarding the legislative aspects of the tax system that is among the best in the world. Through Ministry of Finance, which is authorised to issue tax legislation and policies, the Tax Procedures Law was issued …
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Dubai’s Emaar posts first-half profits, announces new IPO
DUBAI, United Arab Emirates – Dubai developer Emaar Properties has posted 2.8 billion dirhams ($772 million) in net profits for the first half of 2017 and laid out plans to spin off its domestic real estate business. Emaar Properties, which trades on the …
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IPO Activity in GCC Slows Down in Q2 2017: Report
Further, IPO activity in the first half (H1 … In the UAE, Industrial & Commercial Bank of China Limited – Dubai Branch (“ICBC”) listed three bonds on Nasdaq Dubai, amounting to $400 million, $300 million and EUR500 million. In Saudi Arabia, Acwa …
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Dubai’s Emaar Properties posts 14 pct rise in second-quarter profit
DUBAI, Aug 14 (Reuters) – Dubai’s Emaar Properties , which is … The retail operation last week reported a 5 percent increase in second-quarter profit. The initial public offering (IPO) of up to 30 percent of the UAE development business is expected …
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IPO activity in GCC slows down in Q2
Further, IPO activity in the first half (H1 … In the UAE, Industrial & Commercial Bank of China Limited – Dubai Branch (“ICBC”) listed three bonds on Nasdaq Dubai, amounting to $400 million, $300 million and EUR500 million. In Saudi Arabia, Acwa …
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