(c) Al Nisr Publishing LLC 2019. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers 02/17 EMIRATES NBD BANK: ranked UAE’s top bankin…
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Total bank deposits in UAE drop, but money in circulation grows: central bank data
Dubai: The UAE Central Bank monthly bulletin for the month of January showed an increase in both money in circulation and long-term deposits. However, short-term deposits decreased when compared …
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ECI, StanChart plan to ease funding for UAE firms
Etihad Credit Insurance (ECI), the UAE Federal export credit company, has signed an agreement with Standard Chartered Bank to provide seamless access to trade credit solutions and funding for UAE busi…
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The Debt Panel: ‘Will my Dh47,000 credit card dues in Dubai be listed with Interpol?’
Also, I read that it’s illegal for banks in the UAE to ask for security cheques from customers against credit cards and loans. According to the article, these are rules stipulated by the Central Bank …
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Updated anti-money laundering laws in UAE to face some challenges
As long ago as 2008, the Financial Action Task Force (FATF) reviewed the legal measures the UAE had implemented to counter money laundering and the financing of terrorism. The FATF’s review concluded …
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UAE-based blockchain platform for trade finance distribution goes live with 25 banks
TradeAssets, the blockchain-powered e-marketplace for trade finance assets, is now live with 25 banks. The first transaction was completed on February 6, and the onboarded banks have now posted trade …
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Dubai rises for sixth day; banks lift major Gulf markets
In Dubai, the index rose 1.5 percent, boosted by banks and real estate stocks. Dubai Islamic Bank gained 1.4 percent. Emaar Properties jumped 3.2 percent, continuing the gains driven by better-than-ex…
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UAE insurers maintain earnings pace: AM Best
AM Best’s analysis of the preliminary disclosures of the national insurers listed on the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) has shown material improvements in bot…
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UAE bank assets rise 1.2% in January: Central Bank
Abu Dhabi – Mubasher: Assets of banks operating in the UAE increased 1.2% month-on-month by the end of January, the Central Bank of the UAE said on Tuesday. Lenders’ assets grew to AED 2.913 trillion …
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UAE gets self-driving cars in the fast lane
Dubai Silicon Oasis also spearheading the efforts in Dubai … Ravi Suri, partner, global head of Infrastructure Finance, KPMG Lower Gulf, said autonomous vehicles offer tremendous social and environm…
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Emaar Properties rides to rescue of Dubai index
Dubai: Emaar Properties rode to the rescue of the Dubai Financial Market (DFM) general index as its shares surged on the back of better-than-expected earnings in the fourth quarter. The company …
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UAE guide to financial services VAT ‘clears up ambiguity’
ANALYSIS: A new guide for financial services firms on the operation of VAT in the United Arab Emirates (UAE) should be welcomed by the industry as it clears up some ambiguity and puts in black and whi…
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Dubai expat embezzles Dh13.4m from boss’s bank account, jailed for life
A sales manager, who siphoned off more than Dh13.4 million from the bank accounts of his Russian boss, was sentenced to life in prison in absentia by a Dubai court on Tuesday. The 42-year-old Kazakh m…
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Saudi crowned Mena IPO king in 2018
Dubai: Saudi Arabia led the Middle East & North Africa region in initial public offering (IPO) activity, both in terms of value and volumes, last year, according to an Ernst and Young report.
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Bank manager in Dubai fakes signature, embezzles Dh10 million
A man who used to work as a manager at a renowned bank in Dubai was sentenced to five years in prison in absentia on Monday. The Saudi national was charged with breach of trust and embezzlement, which …
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New banking regulations create financial setbacks for contractors
Bank’s capital is divided into Tier 1 and Tier 2 capital … the impairment allowance would rise significantly in the absence of a fixed maturity date. The legal committee of the UAE Banks Federation …
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Emirates NBD ranked UAE’s top banking brand with a value of USD 4.04 billion
UAE. Emirates NBD, a leading bank in the region, today announced its position as the UAE’s most valuable banking brand with a USD 4.04 billion brand valuation in The Banker’s annual brand valuation le…
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