Seetharaman CEO, Doha Bank CA Sanjay Manchanda is the CEO of Nakheel, world s leading developer and a key player in realizing the vision of Dubai for the 21st century. Sanjay is a fellow member of the ICAI. Prior to joining Nakheel, CA Sanjay spent 25 …
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Alternative financing options for the GCC
Besides having access to bank loans at competitive rates … as opposed to the main Tadawul exchange. In the UAE, to facilitate bond issuance by SMEs, the minimum issue size of bonds has been decreased from $13.5m to $2.7m, which could increase SME …
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Investments by Pakistanis in UAE property market declining
Real estate brokers here believed that a major reason behind a decline in the investment of Pakistani citizens was a fear that the UAE government would share their bank details with the Pakistani government. “[Pakistani] investors feared that the UAE …
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Kittel does a double in Dubai
Sacha Modolo (UAE Abu Dhabi); 7. Jean-Pierre Drucker (BMC Racing Team); 8. Paolo Simion (Bardiani CSF); 9. Sonny Colbrelli (Bahrain-Merida); 10. Dylan Groenewegen) Team Lotto NL-Jumbo). General Classification (Blue Jersey sponsored by Commercial Bank of …
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Central Bank releases broad regulation aimed at data privacy
On January 1, 2017, the UAE’s Central Bank released a long-awaited regulatory framework for virtual currencies and electronic payment systems, aimed at digital payment service providers (PSPs). The regulation predominantly pertained to data protection …
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Emirates NBD unveils digital banking for Millennials
Emirates NBD on Thursday launched Liv., the UAE’s first digital bank targeted at millennials. The new digital banking proposition is part of Emirates NBD’s planned investment of Dh500 million towards digital innovation and multichannel transformation …
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Dubai Islamic Bank wins four distinctive awards on delivering outstanding customer experience
Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, received four remarkable awards at two prestigious events this month, appraising its distinctive practices of delivering exceptional customer experience. The Bank collected three awards at the …
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ADCB unveils digital age lender uBank
ADCB has become the latest UAE bank to raise its digital game with the launch of its first uBank digital banking centre in Abu Dhabi’s Yas Mall. The uBank centre, unveiled by ADCB yesterday, will enable customers to access key banking services in a …
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UAE bank NBAD offers blockchain payments after tie-up with Ripple
DUBAI Feb 1 National Bank of Abu Dhabi said on Wednesday it had become the first bank in the Middle East and North Africa to introduce real time, cross-border payments on blockchain, becoming the latest lender to experiment with the technology. Through a …
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Dubai Islamic Bank mandates banks for potential sukuk sale -sources
DUBAI Feb 1 Dubai Islamic Bank, the largest sharia-compliant bank in the United Arab Emirates, has appointed banks ahead of a potential benchmark-sized U.S. dollar sukuk sale, banking sources familiar with the situation said on Wednesday. The group of …
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NBAD tops UAE banks’ fourth-quarter figures
National Bank of Abu Dhabi (NBAD) was the best of a mixed bag of fourth-quarter UAE bank results yesterday, with the overall picture showing a sector that is still coping with a sluggish lending market. NBAD, which is merging with Abu Dhabi lender FGB …
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ADCB’s fourth-quarter net profit falls 16%
The Egyptian investment bank EFG-Hermes has forecast that profit at nine UAE banks it covers would fall by 8 per cent year-on-year in the fourth quarter because of a rise in provisions and tighter spreads. It forecast ADCB’s net profit would decline 18 …
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Economic challenges push ADCB profits down 16%
Dubai: Abu Dhabi Commercial Bank (ADCB) reported on Tuesday a 16 per cent year-on-year decline in net profit attributable to equity shareholders that reached Dh4.15 billion in the full-year 2016 from Dh4.9 billion in 2015. The figure puts net profit for …
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Citi Private Bank eyes 15% growth in UAE revenue this year
Dubai: With $374 billion (Dh1.37 trillion) of assets under management globally, Citi Private Bank (CBP) expects a 15 per cent growth in revevues and assets in the UAE this year, even as it eyes investment opportunities in private equity to fund small …
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Emirates NBD launches Green Auto loan with preferential pricing
Emirates NBD, a leading bank in the region, announced today the launch of a Green Auto Loan product in line with its commitment to support the UAE’s transformation into a low-carbon economy, as part of UAE Vision 2021. The Green Auto Loan has been …
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Dubai Financial Market : Dh5m investment drops to Dh123 in decade
Dubai: A client who deposited Dh5 million in two trust accounts with a UAE bank 10 years ago, recently sued the bank after discovering that his investment was now worth only Dh123. An accident had forced the client — a resident of a Gulf Cooperation …
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UAE's First Gulf Bank reports 11 pct fall in Q4 profit
DUBAI Jan 31 First Gulf Bank (FGB), Abu Dhabi’s third-largest lender by assets, reported an 11 percent fall in fourth-quarter net profit on Tuesday but narrowly beat analysts’ expectations. FGB, which is being merged with rival National Bank of Abu Dhabi …
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