Electronic bank statements have their virtues – from saving trees to keeping your desk uncluttered – but they can also be easy to forget. While UAE customers can still have their statements delivered by post, they will now find themselves in the minority.
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UAE Banks Federation’s Board of Directors Approves Key Initiatives and Priorities for 2018
Presided over by HE Abdul Aziz Al Ghurair, Chairman of the UAE Banks Federation, the meeting discussed the latest developments in the banking sector and evaluated the progress of UBF initiatives that aim to further protect customers and banks against cyber …
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Dubai bank pursues 2 UAE fugitives
The pair allegedly fled their country, United Arab Emirates (UAE) after borrowing the money from Doha Bank, Dubai. The bank issued the summons against the pair early this month and the respondents have entered their appearance to defend the case in Harare.
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Dubai’s Abraaj said to mull sale of fund unit stake
Meanwhile, the markets regulator for the Dubai financial center where Abraaj is licensed is holding discussions with the firm about some investors’ concern that capital in a healthcare fund wasn’t allocated properly, though no formal investigation is …
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Dubai Islamic Bank’s ‘MyHome’ Is Set to Change UAE Home Finance Market
Dubai Islamic Bank (DIB), the UAE’s largest Islamic Bank, has launched a new home finance product that is set to change the face of home finance in the UAE. DIB’s MyHome is a ‘one stop shop’ to meet a customer’s entire home finance related needs.
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Builder of Kuwait’s $4.6bn airport revives IPO
The airport will be one of the largest in the world and compares with Dubai’s Al Maktoum International, which will be able to handle more than 220 million travelers when it is done. No advisers have been chosen for the IPO yet, Özdemir said. Half of …
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UAE Takes Lead in Digital Banking in the Middle East
As digitisation of banking and financial services sector gathers momentum across the world, in the Middle East and North Africa (Mena) region, the UAE banks have taken the lead in adopting digital solutions according to a recent study by Al Masah Capital.
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The Builder of One of the World’s Largest Airports Revives IPO
The airport will be one of the largest in the world and compares with Dubai’s Al Maktoum International, which will be able to handle more than 220 million travelers when it is done. No advisers have been chosen for the IPO yet, A-zdemir said. Half of …
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UAE takes pole position in digital banking in the Middle East
Dubai: As digitisation of banking and financial services sector gathers momentum across the world, in the Middle East and North Africa (Mena) region, the UAE banks have taken the lead in adopting digital solutions according to a recent study by Al Masah …
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UAE bank to open branches in Saudi Arabia
LONDON: First Abu Dhabi Bank (FAB), the UAE’s largest lender, is poised to establish a commercial banking business in the Kingdom after being granted a license by the Saudi Arabia Monetary Authority (SAMA). FAB will be able to open up to three branches …
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Revealed: UAE listed firms pay out $9bn in 2017 dividends
The 2017 cash dividends paid out by 62 companies listed on the Abu Dhabi and Dubai bourses amounted to AED33.1 billion ($9 billion), according to the latest official figures. The banking sector continued to have the lion’s share of cash distributions …
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Dubai Investments to launch new Islamic bank
Dubai Investments has announced plans to lead a consortium of investors to launch Arkan Bank, a wholesale Islamic financial institution with an initial paid-up capital of $100 million. The authorised share capital of Arkan Bank will be $500 million.
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77% of UAE firms forecast rise in trade volumes in next year
Sunil Veetil, regional head of Global Trade and Receivables Finance for HSBC MENAT said: “Although oil prices have impacted the GCC’s economies over the last year, the UAE’s push for diversification is bearing fruit. “As we get closer to Expo 2020 …
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Banking wallets see a tough time ahead
Dubai: Among the mobile wallets … I think while most banks are coming out with their own wallets, it is going to a tough journey for the banking wallets or bank-specific wallets to differentiate in the market and that is the reason why Apple Pay or …
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UAE banks must justify interbank rates under new system: sources
ABU DHABI/DUBAI (Reuters) – United Arab Emirates banks will be required to provide written justifications for their quotes when they take part in a panel setting Emirates Interbank Offered Rates (EIBOR), banking sources said on Thursday. EIBOR rates …
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Dubai completes $2.45bn financing for metro extension project
Dubai on Wednesday announced the successful completion of the … Banco Santander, First Abu Dhabi Bank, HSBC Middle East, Intesa Sanpaolo and Standard Chartered Bank acted as mandated lead arrangers and the facility providers for the financing.
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Dubai ruler enacts new laws to boost financial hub
Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum has enacted two new laws that aim to improve and expand Dubai International Financial Centre’s (DIFC) private wealth management and succession planning platforms. Both the Trust Law and Foundations Law are …
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