Ultra-high net-worth can be the most challenging client segment to service for private banks. The investable assets these clients provide can come with challenging demands and complicated needs.
Middle East’s best for family-office services: Mashreq Private Banking
Euromoney’s winner in this category, Mashreq Private Banking, has done just that. The bank is the UAE’s oldest privately owned bank, but its family-office offering is relatively new, having been …
UAE condemns terrorist attack on Afghan bank
The UAE condemned the terrorist attack that killed three people and injured 12 others in Afghanistan’s Kandahar city on Thursday. The bombing happened at a busy bank — and all of the victims were …
UAE: Lulu appoints banks for $2 billion IPO in second half of year
Global retail giant LuLu Group International has appointed banks for its initial public offering expected to be in the second half to raise $2 …
Dubai: Parkin shares close 35% higher on trading debut on DFM
It jumped to as high as 39 per cent to Dh2.92 during the day before settling down at Dh2.84, up Dh0.74 a share …
UAE Central Bank upholds base interest rate amidst interest rate variation from US Federal Reserve
The Central Bank of the United Arab Emirates (UAE) has opted to maintain the base rate for overnight deposit facilities at its current level of 5.4 …
Dubai: Parkin shares jump over 30% on trading debut on DFM
The Dubai government-backed company was the first to launch an initial public offering (IPO) in the UAE this year, raising Dh1.6 billion …
Currency manager: Central Bank of the UAE
The UAE’s new polymer banknotes are printed in the UAE by Oumolat Security Printing, using De La Rue’s Safeguard polymer substrate, with the design managed by Crane Currency.
Dubai-listed Amanat Holdings names new CEO
Dubai-listed Amanat Holdings has appointed John Ireland as its new CEO, effectively immediately, according to a disclosure on the Dubai Financial Market (DFM) on Wednesday. Ireland has been serving as …
No surprises as UAE central bank leaves rates at 5.40%
The UAE decision follows the US Federal Reserve’s decision on Wednesday to keep interest rates unchanged amid inflation having not adequately lowered …
New tax in UAE? What you need to know about Global minimum tax
Ministry of Finance launched a digital public consultation to gather the views of relevant stakeholders on the implementation …
Finance Minister, UAE Ambassador discuss bilateral cooperation
United Arab Emirates Ambassador Hamad Obaid Ibrahim Salim Alzaabi called on Finance Minister Muhammad Aurangzeb in Islamabad today. They discussed matters regarding bilateral relations and economic …
UAE lenders’ total assets hit Dh4.1 trillion
In the last quarter of 2023, banks’ total assets increased by 3.1 per cent quarter-on-quarter while total deposits of resident and non-resident customers with UAE banks rose by …
What free zone companies need to know about UAE’s corporate tax
While companies operating in the UAE free zones might not need to pay the corporate tax, which came into effect in June last year, some conditions remain that make them subjective to the tax.
Turkish fund, UAE bank ink 1st Islamic finance deal
ISTANBUL, March 20 (KUNA) — Turkiye Wealth Fund (TWF) and UAE’s Sharjah Islamic Bank (SIB) have signed a USD 100 million Murabaha financing agreement. This three-year term agreement marks the first …
Dubai Islamic Bank teams up with Fitze for another first – the Ramadan “Move-a-Thon”
The Ramadan Move-a-thon campaign, in partnership with Fitze, an innovative fitness app, engages all participants be a part of meaningful change – simply by contributing towards a collective goal of 1 …
Russia’s Access to Global Banking System Closing: Implications Unfold
Late last year, the White House granted the Treasury Department expanded sanctions authority, empowering it to penalize foreign banks for transactions involving Russia’s military-industrial base. …