UAE bank loans and deposits forecast to rise in 2018

Loan growth will increase in the UAE this year as the country’s macroeconomic outlook improves and infrastructure investment creates new opportunities, according to a new report from BMI Research. According to the report, deposits will also rise, as ... ( read original story ...)

Mashreq Bank Drives Innovation With Alipay Payment Partnership

Mashreq Bank, the UAE’s leading financial institution, today announced its partnership with Alipay, the world’s largest online and mobile payment platform operated by Ant Financial Services Group. This, first-of-its-kind association with Alipay ... ( read original story ...)

Qatar asks US to probe ‘financial warfare’ by UAE bank

Qatar has asked the US to investigate reports that the American subsidiary of the largest bank in the UAE is manipulating the Qatari currency to harm the country's economy amid a diplomatic dispute with Saudi Arabia. The Central Bank of Qatar has sent a ... ( read original story ...)

India’s Axis Bank opens office in Sharjah

Axis Bank, India’s third largest private sector bank, has opened a representative office in Sharjah, United Arab Emirates. Shri Vipul, Consul General of India in Dubai, inaugurated the representative office. The representative office in Sharjah is the ... ( read original story ...)

Plans revealed to set up new Islamic bank in Dubai

Dubai Investments has announced plans to lead a consortium of investors to launch Arkan Bank, a wholesale Islamic financial institution with an initial paid-up capital of $100 million. The authorised share capital of Arkan Bank will be $500 million, the ... ( read original story ...)

UAE VP orders creation of financial restructuring commitee

UAE Vice President and Prime Minister and Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum has ordered the formation of a committee to oversee the financial restructuring of companies in the country. The resolution follows the introduction of a bankruptcy ... ( read original story ...)

UAE Companies Could Raise $9 Billion From IPOs in 2018

which could see 2018 as a landmark year for the UAE financial markets, industry analysts have said. Vijay Valecha, chief market analyst, Century Financial Brokers, said UAE companies are expected to raise $8-$9 billion (Dh29.36-Dh33 billion) from IPOs ... ( read original story ...)