It’s confirmed. The United Arab Emirates (UAE) and Saudi Arabia will work on cross-border digital currency. The exact date when it would be issued is still unknown but we know one thing …
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UAE to launch new integrated payment system
The UAE will soon launch a new integrated payment system that builds upon the success of the eDirham system launched in 2001, according to the Ministry of Finance. On Sunday, the Ministry of Finance h…
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UAE banks now required to run credit checks before issuing chequebooks
The Central Bank of the UAE (CBUAE) has requested all lenders to run credit checks … according to a circular sent to financial institutions. In the case of new customers, banks are limited to issuin…
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Changes to the Dubai International Financial Centre’s (“DIFC”) Legal and Regulatory Framework relating to DIFC registered Companies
His Highness Sheikh Mohammed bin Rashid Al Maktoum, in his capacity as president of the DIFC, vice president and prime minister of the United Arab Emirates (“UAE”) and Ruler of Dubai, has recently ena…
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Dubai Financial Market Publishes Updated Versions Of Its Shari’a Standards To Cater For The Growing Interest In Green Economy And Sustainability
HE/ Essa Kazim: “We are committed to expand our standards in line with the Islamic finance’s momentum as a result of the leading initiative of His Highness Sheikh Mohammed bin Rashid Al Maktoum to for…
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Dubai Financial Market updates Sharia standards
Dubai: The Dubai Financial Market (DFM) has published updated Sharia standards in a move to bolster the regulatory framework supporting the Islamic capital markets sector. The updated guidelines …
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Doha Bank to cut construction exposure, keep UAE branches: CEO
DOHA (Reuters) – Doha Bank will cut its exposure to construction companies to 10 percent from 17 percent of lending in the next three years, its CEO said on Tuesday, part of efforts to adjust to a bui…
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IPO activity in GCC ‘continues to slow down in Q3’
Global IPO activity in Q3 2018 suffered compared to last year – proceeds … The company completed its seventh debt listing on NASDAQ Dubai, raising $2.3 billion from corporate bond and $1.0 billion f…
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Regal London launches Dubai office
RELATED ARTICLES: Adnoc Onshore awards $70m contract to London-based Penspen | UAE gas firm Brooge Petroleum eyes London IPO | UPS opens $163m hub at DP … Regal London has opened an office in Dubai. …
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Dubai payments firm Network International selects banks for potential listing
The IPO could see 25 to 30 per cent of Network … according to the publication. The Dubai-headquartered company services more than 65,000 merchants and 220 financial institutions across 50 …
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Streamcast eyes London IPO, JPMorgan, HSBC Holdings poised for role
Discussions about an IPO are at an early stage and Streamcast … Streamcast has offices in the U.S., U.K., Ireland, Malta, Kenya, Dubai, Bahrain and India, according to its LinkedIn page.
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Construction, retail growth boosts revenue of Dubai’s Emaar
Emaar’s net profit totalled AED5.3 billion ($1.4 billion), a growth of 28 percent, prior to considering the effect of the IPO of Emaar Development and … continued to record higher occupancy than Dub…
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Close to home: Property Finder’s $120 million investment to focus on existing markets
“Being IPO-ready is a great exercise … Lahyani declined to give a specific value to the company, which was founded 11 years ago in Dubai, although a Reuters report suggested that it was close to $50…
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Emaar unit sells 5 premium hotels to Abu Dhabi group
Dubai-based developer Emaar Properties has announced that its … had grown tremendously in the first nine months on the back of the initial public offering (IPO) of Emaar Development and foreign exch…
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Musk Blasts SEC, United Auto Workers in ‘60 Minutes’ Interview
Elon Musk, the CEO of both Tesla Inc. and Space Exploration Technologies Corp., opened up about his tumultuous year in a wide-ranging interview with CBS’s “60 Minutes.” Musk, 47, told anchor Lesley St…
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UAE Central Bank says lenders must do credit checks before issuing chequebooks
Banks in the UAE must carry out a credit check on customers before issuing a chequebook, according to a new circular sent to financial institutions by the Central Bank of the UAE. The Central Bank sai…
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Standard Chartered cuts jobs in UAE retail bank: sources
DUBAI (Reuters) – Standard Chartered is cutting jobs in its retail bank in the United Arab Emirates, in part as more customers move to digital services, people familiar with the matter told Reuters. T…
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