The digital wallet is listed in a number of national banks and financial institutions, allowing customers to feed it with credit from their bank accounts. The Dubai’s Department of Finance (DOF), in …
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UAE credit growth expected to pick up in second quarter
The UAE Central Bank located on the Baynoonah street in Abu Dhabi. Image Credit: Gulf News archives Dubai: Credit growth in the UAE is expected to pick up momentum in the second quarter of this …
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Success stories: How three UAE expats tackled debts, loans and credit cards
Yes, say three UAE expats. Here’s a look at how they found themselves in huge debts, but successfully rose back to financial stability. ‘I bought many things that I didn’t really need…’
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UAE car rental service secures $5m funding to drive expansion
UAE-based Udrive, the app-based pay-per-minute car rental service, has announced a $5 million Series B round of funding. Founded in 2017, the start-up said it has undergone one previous round of …
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MoF Holds Workshop to Explain Bankruptcy Law and Financial Restructuring Procedure
To ensure the optimal application of federal laws and to strengthen the commitment of national institutions to international best practices, the Financial Restructuring Committee organised a workshop …
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UAE’s Gulf Capital secures $136m financing, eyes new deals
Abu Dhabi-based Gulf Capital has announced that it has successfully closed a new long-term AED500 million ($136 million) syndicated revolving credit facility. The alternative asset management firm …
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Dubai Investments profit declines despite gains last year
Dubai Investments said in a filing to the Dubai Financial Market, where its shares are traded, on Sunday. Profit for the first quarter of 2018 included a gain of Dh333m attributed to the acquisition …
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Dubai Financial Market : Investments generates AED 202m profit in Q1
Dubai – Mubasher: Dubai Investments Company (DIC) reported a 44% year-on-year drop in its profits for the first quarter of 2019. Net profits amounted to AED 202 million in Q1-19, compared to AED 361.9 …
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UAE- Paving the path for growth
Sarwa is the first fintech to receive and graduate from the Dubai Financial Services Authority’s Fintech Innovation Testing License. The firm was founded in 2017 after being accepted in the DIFC …
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Noor Bank reports Dh217 million net profit
Dubai: Noor Bank has announced net profit of Dh217 million for the first quarter of 2019, an increase of 8 per cent over the same period last year and 220 per cent on the last quarter. The bank …
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Dubai fines, fees rule relaxed for residents
According to the resolution, relevant government entities are tasked with preparing lists for fees and fines that can be paid in installments and submitting them to Dubai’s Department of Finance …
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UAE- Over 10 finance and investment deals struck at Arab Youth Startup Marketplace
DUBAI, 2nd May, 2019 (WAM) — More than ten finance and investment deals and partnerships have been struck between young Arab entrepreneurs and investors during the second Arab Youth Startup …
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Dubai logistics firm Tristar said to pick BofA, Citi for IPO
Tristar, a subsidiary of Kuwaiti logistics firm Agility Public Warehousing, is headquartered in the United Arab Emirates and operates in 20 countries. Middle East logistics firm Tristar Group has …
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UAE Ministry of Finance Signs MoU With ADGM and IBRD to Establish the International Technology Centre in UAE
UAE Ministry of Finance signs a Memorandum of Understanding (MoU) with both; Abu Dhabi Global Market (ADGM) and the International Bank for Reconstruction and Development (IBRD) early today. UAE …
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Banks merge to create UAE’s third largest lender
(MENAFN – Khaleej Times) The third largest banking giant in the UAE with Dh423 billion in assets came into being on Wednesday following the merger of Abu Dhabi Commercial Bank, Union National Bank …
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UAE to establish International Technology Centre
Younis Al Khoori confirmed that the UAE is committed to participating in the realisation of economic development, financial sustainability and economic diversity through adopting new innovative …
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Finance House takes SMS Banking to the next level
“Finance House is proud to be the first Financial Institution in the UAE to offer Loan Top-up facilities to customers through SMS,” added Al Amir Gamal. Finance House’s Digital Transformation strategy …
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