Profitability of the top 10 lenders jumped 28.8 per cent year-on-year for 2023 on the back of a rising interest rate scenario …
Dubai Islamic Bank launches $1bln 5-yr sustainable sukuk
The sukuk was launched at 95 basis points over U.S. Treasuries, tighter than the initial guidance of 125 bps given in a document seen earlier in the day …
First Abu Dhabi Bank launches MENASSA, a platform for MENA-based asset managers
MENASSA, the Arabic word for “platform”, incorporates a suite of world-class modular services delivered from a single platform …
EDB’s contribution to UAE industrial economy soars 80% to $1.17bn in 2023
Emirates Development Bank, the state-owned lender that provides financing for the UAE’s priority sectors, has said that its contribution to the country’s industrial gross domestic product soared to …
Magnati and Biz2X announce embedded finance partnership in UAE
Abu Dhabi: Magnati, a leading payment solution provider in the Middle East, has partnered with Biz2X, a global fintech leader in lending platform technology, to introduce one of the UAE’s largest …
UAE-listed banks report 54% profit surge to $21bln in 2023
The Central Bank of the UAE increased the policy rates by 1.0% last year to 5.4% at par with the US Fed rates, resulting in higher net interest income for all banks, the firm said in its latest UAE …
Emirates Development Bank’s contribution to Industrial GDP grows 80% in 2023, totalling AED4.3 billion
Emirates Development Bank (EDB), the key financial engine of economic development and industrial advancement in the UAE, has unveiled its 2023 results, showcasing an extraordinary year of achievements …
National Bank of Fujairah launches NBF Markets to redefine online trading
Dubai – National Bank of Fujairah PJSC (NBF) today announces the launch of NBF Markets, a margin trading platform providing 24/5 access to FX, precious metals, derivatives and CFDs for NBF corporate …
Emirates Development Bank’s contribution to Industrial GDP grows 80% in 2023, totaling AED 4.3bln
Moreover, EDB has approved a total of AED 1.3 billion in financing under the Credit Guarantee Scheme with partner banks in the UAE, which marks a 64% increase compared to the previous year and …
Juniper Hotels IPO allotment: Check status, GMP, listing date and other details
Investors can check the status of their share allotment on the BSE or even by logging in to the registrar website.
Dubai Islamic Bank starts selling 5-year sustainable sukuk
The initial price guidance for the Islamic debt sale has been placed around 125 basis points over U.S. Treasuries …
Personal loans in UAE: What are the eligibility criteria for expats?
As per the Central Bank of the UAE, individuals may apply for a personal loan secured by the borrower’s salary and end of service gratuity …
More jobs, lower bank fees: How UAE’s exit from FATF ‘grey’ list will benefit residents
Lower bank fees, smoother foreign currency transactions and increased trade and investment resulting in more employment opportunities, are among the benefits following , experts told .FATF sets …
UAE dropped from financial crime watch list of high-risk money flow countries; here’s what it means
The Financial Action Task Force (FATF), a body that groups countries from the United States to China to tackle financial crime, on Friday dropped the UAE from its ‘grey list’ of around two-dozen …
UAE’s removal from Financial Action Task Force’s grey list to spur investor confidence
It was placed on the grey list in 2022.Barbados, Gibraltar and Uganda were also removed from the grey list, while Kenya and Namibia were placed on it.The FATF, a global body that combats money …
The UAE’s Success in Combating Financial Crimes: A Testament to Global Collaboration and Commitment
The Financial Action Task Force (FATF), a prominent international organization tasked with combating money laundering and terrorism financing, recently commended the UAE for successfully fulfilling …
UAE successfully completes Financial Action Task Force recommendations
The Financial Action Task Force (FATF), the international organisation in charge of combatting money laundering and terrorism financing has announced the UAE’s completion of all 15 recommendations of …