According to the UAE Central Bank data for the month of September 2018, the UAE banks added 356 employees month-on-month to 35,791 at September end. National banks hired 385 people while foreign banks …
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U.K.’s DeVere Launches Actively Managed Cryptocurrency Fund
The crypto investment fund called deVere Digital Asset Fund is developed in partnership with Dubai-based hedge fund manager Dalma Capital Management Ltd. The deVere Digital Asset solution will invest …
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Trriple aims at financial inclusion in the UAE
What is the uptake of mobile payments and digital wallets in the UAE? Currently, we have seen reports that show 70-75 per cent of transactions made in the UAE are cash-based. The goal for UAE to …
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Dubai financial adviser Neil Grant liable for client’s six-figure losses, says civil court financial expert
An unlicensed financial adviser has been found liable after a client lost hundreds of thousands of dirhams in an investment scheme. A civil court-appointed financial expert came to the conclusion afte…
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Dubai’s Arabtec hires US firm to advise on new restructuring plan
structuring options and engagement with finance providers,” Arabtec said in a filing to Dubai Financial Market. The company said it achieved the first major milestone raising AED1.5 billion through a …
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FAB Launches New Brand for Its Islamic Business, As Its Subsidiary Is Renamed First Abu Dhabi Islamic Finance
First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest and safest financial institutions, announced today that it is launching a new FAB Islamic logo inspired by the FAB Bra…
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Dubai bank Emirates NBD launches API sandbox for fintechs
Dubai bank Emirates NBD has launched its API (Application Programming Interface) sandbox, to enable open banking collaboration with fintech firms. The first lender in the UAE to launch such a …
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Dubai financial adviser Neil Grant found responsible for client’s six-figure losses by court-appointed expert
An unlicensed financial adviser has been found liable after a client lost hundreds of thousands of dirhams in an investment scheme. A civil court-appointed financial expert came to the conclusion afte…
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Dubai International Financial Centre signs agreement with China Banking Association
MoU to create synergies and promote knowledge sharing in the areas of financial services and FinTech The two entities to collaborate on sharing best practices and delivering enhanced services to their …
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United Arab Emirates shares mixed at close of trade; DFM General down 0.37%
Investing.com – United Arab Emirates equities were mixed at the close on Sunday, as gains in the Consumer Staples, Insurance and Finance & Investment sectors propelled shares higher while losses in th…
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Dubai Customs carries out 203,650 smart transactions in a week
The week-long initiative, led by the Dubai Government’s Department of Finance (DOF) under the directives of Sheikh Mohammed, aims to make Dubai the smartest and happiest city in the world by raising a…
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Saudi schools IPO underscores weakening foreign demand
Dubai: A Saudi private school operator’s initial … department didn’t reply to calls or emails seeking comment on the IPO. Bankers were marketing NCLE’s shares in a tough environment …
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Dubai International Financial Centre Signs Landmark Agreement with China Banking Association
MoU to create synergies and promote knowledge sharing in the areas of financial services and FinTech The two entities to collaborate on sharing best practices and delivering enhanced services to their …
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New law enhances discretionary powers of UAE Central Bank
… Law No. 14 of 2018), entrusts the Central Bank of UAE with the responsibility of licencing and regulation of all kinds of financial services activities in the UAE. The law expands on previous …
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Bank results reflect strong revival in operating environment
Dubai Islamic Bank (DIB) reported a net profit of Dh3.7 billion for the first nine months of 2018, up 12.1 per cent from Dh3.3 billion reported in the same period last year. For the third quarter …
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Dubai’s IFC becomes a hive of activity for Fintech start-ups
FinTech Hive, an arm of Dubai International Financial Centre (DIFC), is emerging a platform to incubate fintech start-ups from not just the UAE, but also the US, the UK and India besides other South A…
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DeVere Group Targets Arbitrage With New Crypto Fund
Announced in a press release Thursday, the new investment offering, called deVere Digital Asset Funds, is being launched in partnership with Dubai-based hedge fund manager Dalma Capital Management. Th…
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