Foreign bank ordered to pay €700,000 to local company

Dubai: A foreign bank branch will have to pay €700,000 plus an appropriate amount of compensation to a local company for its malpractice in processing the plaintiff’s letter of credit. The case was recently resolved by the Expertise and Dispute ... ( read original story ...)

UAE- Finance House extends branch network

(MENAFN - Khaleej Times) Abu Dhabi - Finance House, which is listed on Abu Dhabi Securities Exchange, announced the opening of its new branch in Mussafah industrial area, Abu Dhabi. The opening ceremony was held under the patronage of Khalil Mohammed ... ( read original story ...)

Hamdan Bin Rashid receives Azeri finance minister

Shaikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance, received on Tuesday evening Samer Sherifov, Minister of Finance of Azerbaijan. Shaikh Hamdan and the visiting minister exchanged a number of financial issues and means ... ( read original story ...)

Emirates NBD inks Unec’s Dubai project finance deal

Emirates NBD, a leading bank in the region, said it has successfully concluded financing amounting to Dh1.3 billion ($354 million) for Unec (United Engineering Construction Company) towards building work on Dubai-based property developer Nakheel’s Deira ... ( read original story ...)

New Islamic economy products launched in Dubai

They key aim is to achieve a sustainable economy.” Held at Grand Hyatt Dubai, the event was attended by industry experts, innovators, and decision-makers. It was supported by Alinma Bank, Islamic Development Bank and Dubai Islamic Economy Development ... ( read original story ...)