Bounced cheques worth AED26.2 billion ($7.1 billion) were reported in the UAE during the first five months of 2018, according to official figures. The Central Bank of the UAE recorded a total of 515,000 bounced cheques, about 4.3 percent of the total value …
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Dubai poised to be digital financial inclusion hub — report
Dubai: The UAE is ideally positioned to serve as the ‘beating heart’ of a regional innovation hub; according to a new report published by Oliver Wyman in collaboration with Dubai International Financial Centre (DIFC). According to the report, Dubai is …
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DIFC signs FinTech deal with France’s Finance Innovation
Dubai International Financial Centre (DIFC) has signed an MoU with Finance Innovation, France’s official financial tech innovation centre, to collaborate on the development of the FinTech ecosystem. The Memorandum of Understanding will include knowledge …
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UAE Banks Federation’s Middle East Banking Forum 2018 to Explore the Future of Banking
The UAE Banks Federation (UBF) today announced that it will host the sixth edition of the Middle East Banking Forum, one of the leading banking conferences in the region, on 11 November, 2018 at The Westin Dubai Al Habtoor City in Dubai. Held in …
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UBF’s Middle East Banking Forum 2018 To Explore Future Of Banking
The UAE Banks Federation, UBF, today announced that it will host the sixth edition of the Middle East Banking Forum, one of the leading banking conferences in the region, on 11th November, 2018, in Dubai. Held in association with Financial Times and The …
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UAE to act as ‘beating heart’ of financial innovation in Middle East
The UAE is ideally positioned to serve as the “beating heart” of a regional innovation hub, according to a new report published by Oliver Wyman in collaboration with Dubai International Financial Centre (DIFC). The report reveals how Dubai is strategically …
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UAE regulator to launch SME financing platform
The UAE’s Securities and Commodities Authority (SCA) has announced plans to launch a platform to finance small and medium enterprises (SMEs). The organisation said it was working with the Ministry of Economy, which will provide regulatory and legislative …
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Dubai construction specialist RA International raises $24.83mn with IPO in London
Law firm Dentons says it advised Dubai-based construction services provider RA International Group PLC on its successful initial public offering (IPO) and admission to London’s AIM Market. The company was admitted to AIM at the June with a market …
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UAE- Union Properties unit ServeU to launch IPO in September
(MENAFN – Khaleej Times) Facilities management company ServeU, a subsidiary of Union Properties, will launch its IPO in September and aims to double the number of its workforce to 10,000 in the next couple of years through organic and inorganic measures …
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Expo 2020, reforms key to 1% GDP boost to UAE economy
Expo 2020, economic reforms, Abu Dhabi’s $13.6 billion stimulus, and ADNOC’s expansion could add about 1 percent to the UAE’s non-oil real GDP growth in 2019, according to new research. Bank of America Merrill Lynch said structural reforms support …
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Union Properties unit ServeU to launch IPO in September
“All the governance and strategies have been aligned to make sure that everything is in right place ahead of IPO which is planned for September this year and listing will be on the Dubai Financial Market. It is difficult to give the size of IPO or how much …
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UAE Banks Federation launches financial literacy guide for SMEs
The UAE Banks Federation (UBF) has stepped up its efforts to increase the level of financial awareness in the country by launching a financial literacy handbook for SMEs. Representing over 60 percent of the country’s GDP and employing 42 percent of its …
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UAE-China banking ties to see more sustainable, growing synergy: Dubai financial official
DUBAI – The banking relations between the United Arab Emirates (UAE) and China will see more sustainable and growing synergy in future, a senior official of the Dubai International Financial Center (DIFC) told Xinhua in an interview on Thursday. Salmann …
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UAE court reserves judgement in Naqvi criminal case
Dubai: A Sharjah court on Thursday reserved the judgement until … three cheques signed by Arif Naqvi totalling an amount of $300 million were presented to the Bank and subsequently dishonoured due to insufficient funds. These cheques stem from an …
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BoG must use Islamic banking to promote financial inclusion – Dubai Chamber
The Head of Dubai Chamber-Ghana Office, Cyril Darkwa, is encouraging the Bank of Ghana (BoG) to see Islamic banking as a way to promote financial inclusion in the country, noting that Islamic banking is a sector that offers huge potential growth for Africa …
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Emirates NBD Bank : Disruption brings lower
… remittance markets through the bank’s online and mobile banking platforms, free of charge and at competitive rates.” Typically, the standard transfer fee on remittances from the UAE is between Dh15 to Dh70, depending on the place where the money …
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Dubai’s Union Properties says no exposure to troubled Abraaj
The Dubai-based developer said in a filing to Dubai Financial Market that it has received a number of inquiries by a group of shareholders regarding the extent of the exposure. In a statement, Union Properties said: “The board of directors would like to …
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