Digital investment fund plans to raise $300m

Alphabit is registered in Dubai and the Cayman Islands. Fees include 2.5% for management and 45% for performance. The latter will only apply if the fund outperforms the price of Bitcoin, said Robertson, a former currency trader at hedge fund Light Peak ... ( read original story ...)

NYSE executives to woo Aramco IPO in upcoming Saudi visit

RIYADH/DUBAI A New York Stock Exchange (NYSE ... as top exchanges around the world vie to win slices of Aramco's initial public offering IPO-ARMO.SE, expected to be the largest in history. Aramco plans to list about 5 percent of its shares, mostly on ... ( read original story ...)

Better times ahead for UAE banking sector: CBD’s CEO

The UAE’s banking sector is expected to perform better in 2017 in terms of asset growth, asset quality and profitability compared to 2016, said Dr Bernd van Linder, Chief Executive Officer of Commercial Bank of Dubai (CBD). Speaking to reporters at the ... ( read original story ...)

Union National Bank: the future of Islamic finance

There are now around 15 Islamic banks and finance companies operating in the UAE. Across the world, Islamic finance has seen rapid growth, with assets reaching $2trn with expectations to cross the $3trn mark by 2018. This development has been driven by a ... ( read original story ...)

Money matters: Profits up for banking sector in the UAE

Retail banking business in the UAE has endured a challenging economic environment, slow growth, margin pressures and persistent loan impairments for several quarters in the recent past. In a positive turn of events, several major banks have posted good ... ( read original story ...)

Dubai Islamic Bank confirms licence for Kenya unit

Dubai: Dubai Islamic Bank (DIB), the largest Islamic Bank in the UAE on Tuesday said that it has been given a licence by the Central Bank of Kenya (CBK) to operate its subsidiary, DIB Kenya Ltd. In a statement to the Dubai Financial Market where DIB shares ... ( read original story ...)

Disrupting personal finance in the GCC

Amid this more difficult climate, the aggregator site and its rival Souqalmal are an example of the changing personal finance landscape in the UAE and wider Gulf region, with technology playing a larger role than ever before. Where once applying for an ... ( read original story ...)