Dubai: Blockchain technologies have the potential to revolutionise the rapidly growing financial services sector in the UAE and broader GCC region, according to a new report from Booz Allen Hamilton, titled Blockchain: Application to Financial Services in …
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Desktop banking trumps mobile in UAE
Traditional online banking done through a bank’s desktop website is still proving to be the more popular alternative to mobile banking amongst UAE residents, a survey by compareit4me.com has found. The survey, which compiled responses from almost 400 UAE …
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Market analysis: UAE bank equities a sound investment
Mena equity investors have had a stormy year so far. We have seen decent swings in both directions, but despite the volatility, Mena equities are now where they started the year, although some countries and sectors have fared better than others. While …
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UAE bank deposits up by Dh30b
Abu Dhabi: Total bank deposits in the UAE increased by Dh30.2 billion in September 2016 due to an Dh11.4 billion increase in resident deposits and an Dh18.8 billion increase in non-resident deposits, the Central Bank of the UAE said. Banks in the UAE have …
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Majority in UAE feel more financial pressure than …
Residents in the UAE feel they are under greater financial pressure and have to take more risks with their money, research by HSBC has found. This is despite the fact that many residents believe there are more choices in their life today. HSBC’s latest …
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MIDEAST STOCKS-Banks boost Gulf markets despite weak global environment
DUBAI Oct 27 Banking shares that had been beaten down earlier this month by fears of slowing global economic growth headed for a seventh day of gains on Thursday, boosting Gulf stock markets despite weakness in Asian bourses and oil prices. The Saudi bank …
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Dubai Islamic Bank wins two LinkedIn MENA Talent Awards – “Best Employer Brand” and “Most Social Executive in Private Sector”
Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has won the distinguished accolade of “Best Employer Brand on LinkedIn” award at the LinkedIn MENA Talent Awards 2016. LinkedIn also recognized Dr. Adnan Chilwan, Group CEO of DIB, with the …
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MIDEAST STOCKS-Banks boost Gulf markets in weak global environment
DUBAI, Oct 27 (Reuters) – Banking shares that were beaten down earlier this month by fears of slowing economic growth in the region boosted several Gulf stock markets on Thursday, despite weakness in Asian bourses and oil prices. The Saudi bank sector has …
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CBD posts Dh701.5m in nine-month net profits
Dubai: Commercial Bank of Dubai (CBD) posted a net profit of Dh701.5 million for the first nine months of 2016, 23.4 per cent lower compared to Dh915.3 million for the same period last year. The bank attributed the decline in profit to prudent provisioning.
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Banks team up to expand sustainable financing
National Bank of Abu Dhabi (NBAD), Commercial Bank of Dubai, Dunia Finance, Emirates NBD, HSBC, National Bank of Fujairah, RAKBank and Union National Bank signed the Dubai Declaration on Tuesday. The deal, at the Unep Finance Initiative Global Roundtable …
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Saudi bond coup seen strengthening banks seeking Aramco IPO role
Dubai: Banks that helped Saudi Arabia raise a record $17.5 billion (Dh64 billion) last week will next turn to an even bigger prize: landing a role on the potential $100 billion initial public offering (IPO) of Saudi Arabian Oil Co. HSBC Holdings Plc …
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Local banks to continue helping struggling SMEs
Local banks will continue to help struggling small businesses restructure debt even after President Sheikh Khalifa ratified a bankruptcy law, according to a spokesman at the UAE Banks Federation. The federation said in September that an initiative among …
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Gulf Banks Feel the Pain as Investors Wonder What Will Come Next
Banks from Saudi Arabia to Dubai are feeling the pain of the Middle East’s slowdown. Many of the region’s largest banks missed analysts’ earnings estimates in the third quarter as lenders provisioned for higher bad loans and funding costs increased.
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Guga banking on major upset
The UAE Beach Soccer coach is confident of a first major upset as his team readies to take on three-time world champions Brazil in their opening match of the Sixth Samsung Beach Soccer Intercontinental Cup Dubai. The five-day tournament that brings …
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Emirates NBD ranked 'strongest bank in UAE'
Emirates NBD, a leading bank in the region has been ranked the ‘Strongest Bank in the UAE’ by the prestigious Asian Banker’s ‘AB 500 Strongest Banks in 2016.’ The bank, the largest in the UAE, was rated highly for its sound growth record and its …
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Dubai Islamic Bank Q3 net profit down 9.9 per cent
Dubai Islamic Bank, the United Arab Emirates’ largest Sharia-compliant lender, on Monday posted a 9.9 per cent drop in third-quarter net profit, in line with analysts’ forecasts. The bank made Dh876.3 million in the three months to September 30 …
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Dubai Islamic Bank 9-month net profit up 7% to Dh3b
Dubai: Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE by total assets, on Monday reported a Group Net Profit of Dh3.01 billion, up 7 per cent compared with Dh2.8 billion for the same period in 2015. For the third quarter of the year the bank …
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