Incremental deposit growth outstripped credit growth for the first time since Q1’22 amidst monetary tightening …
First-quarter profit of UAE’s top 10 banks up 35% on lower impairments
The combined net profit of the UAE’s 10 largest banks rose by 35 per cent on a quarterly basis in the first three months of the year due to enhanced cost efficiencies and lower impairment charges, …
Dubai Financial Market Launches Futures Contract on the General Index (DFMGI)
The Dubai Financial Market (DFM) today announced the offering of futures contracts on its General Index (DFMGI), which includes the most liquid and larg …
The importance on accounting automation in UAE’s corporate tax era
Businesses must assess their finance technology stack to check if the tools can effectively manage the new processes required and if the systems in place integrate efficiently to allow for seamless au …
Saudi retailer United Electronics plans IPO of consumer finance unit – sources
Saudi retailer United Electronics is planning an initial public offering of its Islamic consumer finance business, Tasheel Finance, two sources familiar with the matter told Reuters.
UAE Corporate Tax to come into effect this week: Here is what you need to know
The federal tax on corporations and business profits will come into effect for financial years starting on or after June 1, …
UAE, Poland seek to strengthen financial and economic ties
The UAE and Poland agreed to strengthen their cooperation and exchange knowledge, experiences and best practices in the field of tax policy …
UAE: Housing loans worth Dh1.6 billion to benefit 2,000 Emiratis
A housing programme that bears the name of the late Sheikh Zayed bin Sultan Al Nahyan is continuing to home thousands of Emiratis decades after it was set up. The UAE Vice-President on Sunday …
EDB signs MoU with Paraguay’s Development Finance Agency to boost collaboration
EDB and AFD will harness their respective resource advantages and professional expertise, to build a long-term, effective, and mutually beneficial relationship in the areas of employee skill training, …
Emirates Development Bank signs MoU with Paraguay’s Development Finance Agency to boost collaboration
To build a long-term, effective, and mutually beneficial relationship in the areas of employee skill training, agritech and food security financing solutions …
BisB wins ‘Best Digital Banking Initiative’ award
Bahrain Islamic Bank (BisB), a leading provider of digital banking services in Bahrain, has won the ‘Best Digital Banking Initiative’ at the Mena Banking Excellence Awards ceremony 2023. Yaser …
UAE: EDB signs MoU with Paraguay’s Development Finance Agency
EDB and AFD will harness their respective resource advantages and professional expertise, to build a long-term, effective, and mutually beneficial relationship …
ADNOC L&S draws highest IPO subscription in 2023, at $125 bln
According to ADNOC, the top price was driven by significant demand from both local and international investors.. ADNOC L&S draws highest IPO subscription in 2023, at $125 bln. abu dhabi, Adnoc, ADNOC …
Hedge fund trader Sanjay Shah ordered to pay 4.6 billion dirhams to Denmark – Check what the Dubai court said in its ruling
Indian origin hedge fund trader Sanjay Shah has lost his final appeal in Dubai and was ordered to pay Denmark’s tax authority 4.6 billion dirhams for tax fraud and money laundering. In addition, he …
MEBIS 2023 – Where The Banking Elite Convened To Deliberate On The Challenges And Opportunities Of The Digital Age – ZEX PR WIRE
Melbourne, Australia, 26th May 2023, zex pr wire , Featuring 70+ speakers to share their knowledge and expertise on the changing face of the banking sector though innovation and technology …
UAE companies can adjust tax treatment of some assets before corporate tax enforcement
The Ministry of Finance announced additional flexibility for the property … value at the start of the first tax period,” it added. In January last year, the UAE introduced the federal corporate tax …
Ministry of Finance helps businesses adjust opening balance sheets before and after Corporate Tax comes into force
The decision applies to certain assets and liabilities, such as immovable property, intangible assets, financial assets, and financial liabilities, held by businesses before the Corporate Tax Law …