The Gulf crisis, which saw Arab allies of Saudi Arabia including the United Arab Emirates boycott Qatar, threatens Dubai’s standing as regional financial hub, the CEO of international bank Standard Chartered said on Monday. “There is a lot of benefit we …
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UAE bank ATMs surge to 5,219, up 2pc in H1
The number of automatic teller machines (ATMs) operated by banks in the UAE hit a total of 5,219 by end of H1, an increase of 2 per cent from 5,118 in the same period in 2016, according to UAE Central Bank statistics. The continual rise in ATMs in the …
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This major UAE bank is going to stop accepting cash cheques
Heads up: RAK Bank has said that they will no longer accept cash cheques at all from September 1 onwards. Why won’t the major bank clear cash cheques? They’ve said it’s all about protecting customers from “an increasing trend of fraud”.
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Standard Chartered CEO says Gulf rift puts Dubai finance hub at risk
The boss of Standard Chartered has warned that Dubai risks damaging its status as a financial centre as a result of the trade boycott of Qatar by a Saudi-led bloc, which includes the United Arab Emirates. Standard Chartered is a major lender across the …
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EFCC arrests Dubai-bound Nigerian with 849 ATM cards
The Economic and Financial Crimes Commission has arrested a Dubai-bound Nigerian … Operatives of the Commission discovered that the suspect had 490 Guaranty Trust Bank ATM cards, 287 of Access Bank, 49 of Eco Bank, 10 of UBA, six of Stanbic IBTC Bank.
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New cryptocurrency launches in Dubai, backed by real economic activity
Dubai: Farad, a Malaysian company … operating independently of a central bank. Bitcoin is the most famous example of a cryptocurrency. In simple terms, an investor will purchase a Farad cryptoken, which will be backed by the manufacturing of state …
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EFCC arrests Nigerian traveling to Dubai with 849 ATM cards
He was reportedly preparing to board an Egypt Air flight heading for Dubai, United Arab Emirates … It was discovered that the suspect had 490 Guaranty Trust Bank ATM cards, 287 of Access Bank, 49 of Eco Bank, 10 of UBA, six of Stanbic IBTC …
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New York wants Saudi Aramco and other Gulf IPOs: Top NYSE official
DUBAI: The New York Stock Exchange … which is believed to be looking to raise up to $100 billion next year in the biggest IPO in history, he made it clear that NYSE wants to stage the Aramco IPO, and has already had talks with the Saudi giant.
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StanChart CEO says Gulf rift puts Dubai finance hub at risk
LONDON (Reuters) – The boss of Standard Chartered (STAN.L) has warned that Dubai risks damaging its status as a financial center as a result of the trade boycott of Qatar by a Saudi-led bloc, which includes the United Arab Emirates. Standard Chartered is a …
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“Misr Um El Donia” account launched in UAE
We are very happy to offer our Egyptian clientele the opportunity to bank with convenience. We’ve tailored this to meet the needs of customers who live in the UAE but also bank in Egypt, support family members and pay any outstanding bills back home.
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UAE’s RAKBANK in partnership with Diebold Nixdorf launched Samsung Pay on their ATMs
RAKBANK, also known as The National Bank of Ras Al Khaimah (P.S.C), is one of the UAE’s most dynamic financial institutions. Founded in 1976, it underwent a major transformation in 2001 as it rebranded into RAKBANK and shifted its focus from purely …
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Qatar’s IHG to list on bourse despite diplomatic crisis
DUBAI, Aug 6 (Reuters) – Family-owned Qatari conglomerate Investment Holding Group IPO-INVH.QA plans to list on the local stock market next week in a sign that authorities intend to push ahead with developing Qatar’s financial markets despite a diplomatic …
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Crowdfunding set to revolutionise fund-raising for SMEs
However, the recent efforts of the Dubai International Financial Centre (DIFC) and its regulator, the Dubai International Financial Services Authority (DFSA), are giving it a formal framework that sets out the rules of the game. Crowdfunding is a generic …
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The Latest: Dubai high-rise fire began from clothing
Firefighters say a blaze on a Dubai skyscraper began from clothing left on a balcony. Capt. Amer Abdulwahab al-Qahtani of the Dubai Civil Defence told The Associated Press that Sunday’s blaze at the Tiger Tower began on the 53rd floor. He says …
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New phase of FAB brand roll-out begins
First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest financial institutions, has confirmed that the next phase of its brand roll-out will be launched during the second half of the year. During the coming months, the bank …
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Aramex announces resignation of board member
The company revealed this in a statement posted on the Dubai Financial Market’s website. Aramex’s second-quarter net profit to June 2017 grew by 4 per cent to Dh1.15 billion, compared to Dh1.1 billion in the same period last year. Net profits in the …
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Be cautious of public WiFi scams, says Dubai Police
Dubai Police has issued a warning about the dangers of using … “Cyber criminals will use every opportunity to infiltrate networks in order to gather personal and financial details. Quickly they can extract this information.” Cybercriminals use this …
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