Aster DM re-files IPO papers, cuts offer size

According to the new DRHP, available on the websites of the investment banks to the IPO, the firm is looking to raise around ... across all the Gulf Cooperation Council states of United Arab Emirates, Oman, Saudi Arabia, Qatar, Kuwait and Bahrain, as ... ( read original story ...)

Banking sans branches

Smartphones are now the gateway to your banking transactions, paving the way for more mobile apps and digital payment solutions to ease your lifestyle by reducing branch visits. This has indeed kept pressure high on the UAE banking sector to innovate and ... ( read original story ...)

Moody’s changes Qatar banks’ outlook to negative

Dubai: Credit rating agency Moody's Investors Service has changed the outlook on Qatar's banking system to negative from stable due to the weakening operating conditions and continued funding pressures facing Qatari banks. The rating agency’s new outlook ... ( read original story ...)

UAE bank ATMs touch 5,219 in H1

The number of automatic teller machines (ATMs) operated by banks in the UAE hit 5,219 by the end of H1, an increase of two per cent from 5,118 in H1 2016, according to UAE Central Bank statistics. The number of national banks stood at 23 in Q2 2017, with ... ( read original story ...)

Dubai banking hub at risk because of Gulf crisis, bank CEO says

The Gulf crisis, which saw Arab allies of Saudi Arabia including the United Arab Emirates boycott Qatar, threatens Dubai’s standing as regional financial hub, the CEO of international bank Standard Chartered said on Monday. "There is a lot of benefit we ... ( read original story ...)

UAE bank ATMs surge to 5,219, up 2pc in H1

The number of automatic teller machines (ATMs) operated by banks in the UAE hit a total of 5,219 by end of H1, an increase of 2 per cent from 5,118 in the same period in 2016, according to UAE Central Bank statistics. The continual rise in ATMs in the ... ( read original story ...)

This major UAE bank is going to stop accepting cash cheques

Heads up: RAK Bank has said that they will no longer accept cash cheques at all from September 1 onwards. Why won’t the major bank clear cash cheques? They’ve said it’s all about protecting customers from “an increasing trend of fraud”. ( read original story ...)