The DFSA expects all authorized firms to submit AML returns within the set deadlines and will look to escalate fines against recalcitrant firms,” said Ian Johnston, CEO of DFSA. “The DFSA will …
UAE approves USD 2 billion funding to cash-strapped Pakistan
The financing plan included loans worth USD 2.9 billion from the World Bank.With the current foreign reserves standing at a mere USD 4.3 billion, Pakistan may not be able to reach June without support …
Power Letters 2023: Nasser Al Awadhi, chief executive officer, Abu Dhabi Islamic Bank
Continuous innovation, segment focus, digital excellence and sustainable future are the core tenets of our 2025 growth strategy.
UAE rolls over $2B loan as Pakistan’s foreign reserves fall to record low of $4.3B
Loan was scheduled to be paid off in Feb, March, which would have depleted country’s already dwindling foreign reserves even further – Anadolu Agency …
Davos 2023: Mubadala says Emirates Global Aluminium IPO may happen this year
Emirates Global Aluminium (EGA), the Middle East’s biggest producer of the metal, may sell shares to the public as soon as the third quarter of 2023, according to the head of one of its biggest …
Payments platform Pine Labs announces UAE expansion
Pine Labs opened a new UAE office at Emaar Business Park, Sheikh Zayed Road, Dubai Payments platform Pine Labs announces UAE expansion digital economy, digital payments, financial technology, fintech, …
UAE rolls over $2bn loan, confirms Dar
The Abu Dhabi Fund for Development (ADFD) has rolled over a $2 billion deposit with the State Bank of Pakistan (SBP) that was payable over the next two months, Finance Minister Ishaq Dar confirmed on …
GCC a ‘bright spot’ for IPOs in 2022; $23bn proceeds
The total number of IPOs from the GCC jumped to 48 issuances in 2022 from 20 issuances in 2021, as per Kamco Invest analysis. Proceeds for 2022 from GCC issuers went up by 3.1x to $23.38 billion from …
UAE rolls over USD 2 billion loans to Pakistan
In a move that would create some much-needed room for Pakistan’s cramped fiscal space, the Abu Dhabi Fund for Development (ADFD) on Thursday rolled over their deposit of USD 2 billion with the State …
UAE Rolls Over $2 Billion Loan to Pakistan
Finance Minister Ishaq Dar announced on Wednesday that the Abu Dhabi Fund for Development (ADFD) has rolled over their deposit of $2 billion with the …
Dubai: UBS hires Credit Suisse bankers to target wealthy Indians
UBS in Dubai is hiring a group of private bankers from rival Credit Suisse Dubai: UBS hires Credit Suisse bankers to target wealthy Indians Credit Suisse, UBS Banking & Finance …
Dubai records over $1.79bln in realty transactions on Wednesday
The mortgages included 80 villas and apartments worth AED5.12 billion and 15 land plots valued at AED106.71 million, bringing the total realty transactions of today to over AED6.6 billion. Disclaimer: …
UAE fiscal balance to remain in surplus with oil at $75: Moody’s
Fiscal balances of the UAE and Qatar will remain in surplus under an average … “Higher hydrocarbon revenue will also provide ample financial resources to support economic diversification projects …
UAE participates in G20 Finance Track’s meeting
The G20 members, invited countries, and international organisations such as the International Finance Corporation (IFC) also attended the meeting …
UBS Dubai Taps Credit Suisse Bankers to Target Wealthy Indians
UBS Group AG in Dubai is hiring a group of private bankers from rival Credit Suisse Group AG as the Swiss lender continues to expand its Gulf business that caters to India’s wealthy diaspora.
Dubai real estate market records property deals worth AED1.7bn on Tuesday
The property deals on Tuesday included 517 sales transactions worth AED1.12 billion, 81 mortgage deals of AED538.23 million and 10 gift deals amounting to AED92.48 million Dubai real estate market …
UAE Central Bank releases new rules to stop money laundering
The UAE Central Bank has released new rules for licensed economic organizations, as well as banks, finance businesses, exchange houses and insurance …