Dubai: Islamic financial institutions’ business activities must comply with Islamic law (Sharia). Rating agency Standard & Poor’s believe that in view of the fast growth of the Islamic finance industry robust Sharia governance structures is very important.
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UBF Board of Directors reviews latest banking sector developments
Dubai: The Board of Directors of the UAE Banks Federation (UBF) met on Sunday in Dubai to review the latest developments in the banking sector. Presided over by Abdul Aziz Al Ghurair, Chairman of UBF, the meeting discussed the federation’s future plans …
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MIDEAST STOCKS-Abu Dhabi hit after bank merger talk quashed; Saudi slips but Egypt resilient
had carried out a previously announced acquisition of 48.36 percent of the firm from Dubai Banking Group, a subsidiary of Dubai Group, for 0.705 dirham a share. Although the purchase price was well below the market price, some investors are betting ADFG …
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Gulf International Finance Limited
Gulf International Finance Limited (GIFL) is a financial services company registered in the Dubai International Financial Centre (DIFC) and regulated by the Dubai Financial Services Authority (DFSA) as an authorised Firm providing financial advisory …
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Hedge in the cloud: funds outsourcing computing power step into unknown
Most other hedge funds – worried by the risks of cyber-attacks and data … Editing by Ruth Pitchford) DUBAI (Reuters) – Henrik Stenson had more crowd interaction than he would have liked on the second day of the DP World Tour Championship on Friday …
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Federal Bank to expand overseas footprints
Federal Bank, a leading Indian private sector banks, opened its second UAE representative office in Dubai as part of a strategy to expand footprints in the Gulf to serve its fast growing overseas clients estimated at over 800,000. Yusufali MA, chairman and …
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Hedge fund stars on track for big pay days: Glocap report
Hedge funds became famous more than a decade ago for delivering … The Swede, who is the Race to Dubai leader, also won a silver medal at the Rio Olympics. “It is a great honor to join the exclusive club of people who have been awarded honorary life …
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Mark Mobius: Rise of ETFs spurs price war fund managers can’t win
And Jeff Levi, who consults money managers on strategy at Casey Quirk by Deloitte, says emerging-market hedge funds have increasingly been dropping fees. This year has proved more than ever before that emerging-market money managers, often regarded as more …
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Ministry of Finance to host Innovation Festival
The UAE Ministry of Finance will hold an Innovation Festival, as part of the UAE Innovation Week. Taking place over two days, the Innovation Festival will include a range of workshops and discussions for business innovators and entrepreneurs, and young …
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Central Bank governor expects UAE economy to expand in 2017
The UAE Central Bank governor Mubarak Al Mansouri said that he expects the country’s economy to expand next year at a faster pace, giving a boost to flailing bank growth. “If we look at expected GDP growth of 2.4 per cent from 2.2 this year, I think …
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Gulf banks could lose access to dollar clearing, UAE central banker warns
ABU DHABI Commercial banks in the Gulf could lose their ability to have dollar trades cleared through the U.S. banking system, increasing risks for them, the United Arab Emirates’ central bank governor warned on Monday. Mubarak Rashid al-Mansouri told a …
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Dubai construction duo Arabtec and Drake & Scull reduce losses
Arabtec said the financial impact of discontinued operations in Saudi Arabia is expected to decrease further after recording a third-quarter loss of 17 million dirhams on the business, against a 79 million dirham loss a year earlier. ($1 = 3.6729 UAE …
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UAE c.bank chief: expects slightly higher growth next year, similar loan growth
ABU DHABI Nov 14 The United Arab Emirates’ central bank governor said on Monday that he expected economic growth to edge up to about 2.4 percent next year from an estimated 2.2 percent this year, helped by oil prices at higher levels than they were for …
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UAE Indian banks NOT accepting old Rs500, Rs1,000
Indian financial experts in Dubai have rebutted the rumour spreading on social media about depositing the demonetised 500 and 1,000 rupee notes in a representative office of State Bank of India in Dubai. The Institute of Chartered Accountants of India …
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UAE residents' bank accounts balloon to Dh1,321.8 billion
Dubai: While government deposits are on a decline amid the oil slump, UAE residents continue to build their wealth, with the amount of private fortunes held in banks growing by several millions of dirhams recently. As of September 2016, the numbers on UAE …
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UAE and Saudi insurers resilient to economic headwinds
Dubai: The UAE and Saudi insurance markets have remained resilient despite ongoing economic headwinds resulting from the persistent decline in oil prices over the past two years according to a recent study by EY and Oxford Economics. “The UAE and KSA …
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A billionaire racing driver, a poet and a hedge fund manager: Now that Prince Harry is off the market, meet the world's most eligible royal bachelors
The Georgetown University graduate now works as a hedge fund analyst in New York … Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai His title may be a bit of a mouthful, so luckily the Crown Prince of Dubai, 33, is happy to …
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