The official website of the three merging banks, ADCB , UNB and Al Hilal who are expected to finalise their merger by mid 2019, has published answers to the most frequent questions being asked by …
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UAE firms tie up in three-way mega merger to create $114 billion banking giant
Abu Dhabi Commercial Bank, Union National Bank and Bank Al Hilal have announced a major three-way merger deal that will create the fifth largest lender in the MENA region with combined assets of $114 …
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Ministry of Finance hosts delegation from the Global Forum on Transparency and Exchange of Information for Tax Purposes
Abu Dhabi UAE: The Ministry of Finance (MoF) recently hosted a delegation from the Global Forum on Transparency and Exchange of Information for Tax Purposes at its headquarters in Abu Dhabi during the…
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Dubai Islamic Bank net profits up 11% to Dh5 billion in 2018
Dubai: Dubai Islamic Bank (DIB) on Wednesday reported Dh5 billion net profits, up 11 per cent compared to Dh4.5 billion in 2017. In response to the strong performance, DIB’s board of directors …
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ADCB, UNB, Al Hilal join to create powerful banking group
The UAE banking sector is set to have a powerful new banking group following the decision of Abu Dhabi Commercial Bank (ADCB) and Union National Bank (UNB) to merge and together to acquire Al Hilal Ba…
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Three Abu Dhabi lenders agree to create $114 billion bank
DUBAI/ABU DHABI (Reuters) – Abu Dhabi Commercial Bank, Union National Bank and Al Hilal Bank agreed a merger on Tuesday to create the third-largest bank in the United Arab Emirates. The bank will beco…
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UAE banks ADCB and UNB agree on merger and takeover of Al Hilal
… and Union National Bank have agreed to a merger to create an entity that will take over Al Hilal Bank and become the third largest lender in the UAE. The merged entity will have an asset base of D…
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Dubai’s DIFC launches balloon trips for 15th anniversary
Dubai International Financial Centre (DIFC) has unveiled the DIFC Hot Air Balloon in celebration of its 15-year anniversary. The DIFC Hot Air Balloon will be operated by Balloon Adventures Emirates, p…
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UAE-Saudi digital currency will be restricted to few banks, central bank says
A proposed UAE-Saudi digital currency will be restricted to a few banks in each country towards executing financial settlements between the two, the Central Bank of the UAE said on Tuesday. The curren…
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Pakistan plans digital bank to lift remittances from UAE
A complete package of incentives will soon be introduced for overseas Pakistanis who’ll send remittances through banking channels, a senior Pakistani official said. Zulfikar Bukhari, special ssistant …
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Fraud alert: Sharjah Police warn UAE residents of new bank scam
Dubai: A new scam is making the rounds among bank customers, prompting police to caution residents over suspicious text messages. The Sharjah Police General Command warned owners of bank cards …
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New IPO rules for trade agencies ‘a big positive’
Charles-Henry Monchau, Managing Director – CIO & Head of Investments at Al Mal Capital, a subsidiary of Dubai Investments said that the need to get funding through an IPO route is needed as …
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At the UAE gender equality awards, all the winners were men
Lt. Gen. Sheikh Saif bin Zayed Al Nahyan, the UAE’s deputy prime minister and minister of interior, was awarded the first prize, while male representatives of the Ministry of Finance, the Federal Comp…
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UAE cabinet to allow trading companies to issue IPOs
The UAE Cabinet on Sunday adopted an amendment … Investors said the amendment would help lift local markets. “The move to [Initial Public Offering] will create more investment opportunities …
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Why Dubai-based banks made billions of dirhams in net profits in 2018
Emirates NBD Head Office at Baniyas street in Dubai. The largest Dubai-based bank reported a net profit of Dh10 billion for 2018, up 20 per cent on the year. Image Credit: Ahmed Ramzan/ Gulf News …
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Improving asset quality, loan yields boost Dubai banks
Emirates NBD Head Office at Baniyas street in Dubai. The largest Dubai-based bank reported a net profit of Dh10 billion for 2018, up 20 per cent on the year. Image Credit: Ahmed Ramzan/ Gulf News …
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UAE bourse suspends share trading in major local bank
The Abu Dhabi Securities Exchange has suspended trading in Bank of Sharjah for not submitting its financial results for the 2018 financial year. “As Bank of Sharjah didn’t submit their Financial State…
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