It takes time but once it happens it give rapid pace to the growth,” he said. The bank has an office at the Dubai International Finance Centre, offering trade finance for companies engaged in trade between the Middle East, Africa and Asia. Simmonds said …
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Kuwait’s Noor Financial to divest stake in Pakistan’s largest Islamic bank
Noor Financial Investment Company will divest a portion of its … Subscribe to Arabian Business’ newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.
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Dubai expands experimental licence scheme for fintechs
Dubai Financial Services Authority (DFSA) has announced the expansion of its innovation licence programme for financial technology (fintech) firms. The programme, announced last May, allows qualifying companies to test new concepts within Dubai …
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5 reasons to get an offshore bank account
With the low interest rate environment in the UAE meaning your savings often are not even keeping up with the real rate of inflation, banking offshore means you can enjoy significantly higher interest rates than what you’d find in UAE. Here are our …
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Noor Bank’s $500m sukuk listed on Nasdaq Dubai
Nasdaq Dubai has listed a $500 million sukuk of Noor Bank, one of the leading Shari’a compliant banks in the UAE. The capital raised supports Noor Bank’s continuing rapid growth as a fully scalable universal Islamic bank across the UAE active in a wide …
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The New U.S.-UAE Aviation Agreement Changes Nothing
A similar U.S.-UAE deal was reached just in the past week … However, state-owned carriers Emirates and Etihad Airways will be required to publish audited financial statements annually. They also must “take steps” to avoid below-market deals with …
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Dubai Financial Services Authority Announces Fintech Innovation Testing Program Expansion
The Dubai Financial Services Authority (DFSA) announced on Wednesday the expansion of its Innovation Testing Licence (ITL) programme in response to continued interest in fintech and the digital economy. According to DFSA, the ITL program enables firms to …
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Noor Bank rings bell to celebrate listing of a $500 million Sukuk
John Iossifidis, Chief Executive Officer of Noor Ban rang the market-opening bell to celebrate the listing of a $500 million Sukuk on Nasdaq Dubai. The capital raised supports Noor Bank’s continuing rapid growth as a fully scalable universal Islamic bank …
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The Debt Panel: Former Dubai executive struggling to repay Dh380,000 loan following job loss
I left Dubai in April last year after losing my job as a compliance director in the financial sector a couple of months earlier. When I left I had an outstanding loan of Dh380,000 and contacted the bank to inform them about my situation. I asked to …
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Dubai contracting giant rebounds to post profit in Q1
Drake & Scull International, the Dubai-based contracting giant which has recently completed the restructuring of its corporate general bank debt in the UAE, said on Tuesday that it returned to profit in the first quarter of 2018. The company said it made a …
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Revealed: how China is driving growth in Dubai’s financial hub
ICBC and China Construction Bank Corporation. A recent survey also ranked the UAE as third in a global index of nations that stand to benefit most from the One Belt, One Road Initiative. Kazim said: “Dubai has always been a focal point for trade and …
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Noor Bank lists US$500 million Sukuk on Nasdaq Dubai
DUBAI, 16th May, 2018 (WAM) — Noor Bank today welcomed the listing of US$500 Sukuk on Nasdaq Dubai. The capital raised supports Noor Bank’s continuing rapid growth as a fully scalable universal Islamic bank across the UAE active in a wide range of …
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Alawwal and SABB merger to create Saudi Arabia’s third largest bank
DUBAI: Saudi British Bank (SABB) and Alawwal Bank have agreed on a merger, Alawwal Bank said on Wednesday, in a deal that would create Saudi Arabia’s third-biggest bank with assets of around $77 billion. The merger is the first major banking tie-up in …
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Country Head – Huxley Banking & Financial Services – Dubai Jobs
One of the leading International Banking Group is setting up their Islamic Banking Division in the DIFC; we are currently looking for a Country Head to join them. Setting budgets for new large corporate client relationships comprising assets and liability …
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Noor Bank Rings Bell To Celebrate Listing Of A USD 500 Million Sukuk On Nasdaq Dubai
Capital raised supports bank’s rapid growth as a universal Islamic bank across UAE Successful issuance with five-year term oversubscribed 2.1 times Listing underlines Dubai’s No. 1 position globally for Sukuk at USD 59.72 billion John Iossifidis, Chief …
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Listed firms’ agencies slam hedge funds for ‘violating corporate managerial rights’
Pointing to similar cases in the past of Dubai-based Sovereign Asset Management’s opposition to SK Corp. in 2003 and Elliott’s attack on Samsung Group in 2015, the associations criticized hedge funds for taking huge profits and then withdrawing from the …
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Islamic finance feels heat from $700 mln Dana sukuk saga
DUBAI, May 15 (Reuters) – Islamic finance operators are scrambling to tighten the industry’s rules in order to make sure other companies cannot take the same path as Dana Gas, which this week forced a $700 million debt restructuring. Global standards are …
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