Tag: ipo

Shaikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance said: “These decisions bring an added layer of transparency to the Authority’s relationship with its customers and this, in turn, provides extra incentive for …
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The Ministry of Finance (MoF) has announced its participation, as part of the federal government entities’ stand, in the 37 th GITEX Technology Week 2017 taking place at the Dubai World Trade Center from 8 th-12 th October. MoF is participating to …
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The Dubai Financial Services Authority (DFSA) has censured Mr Prabhakar Kamath, a former Finance Officer of a DFSA Authorised Firm for submitting an inaccurate financial report to the DFSA. Mr Kamath, in his capacity as Finance Officer, was responsible for …
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Abu Dhabi Commercial Bank (ADCB) has announced that its banking services are all back on line after a three-day outage to carry out a major system enhancement. ADCB said it has successfully completed the migration of its core banking systems and …
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All over the world, the banking sector is operating in an era of great technological flux, one in which the adage “innovate or die” morphs into a stark and very real message staring the industry in its face. As technology plays an ever increasing role in …
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and set the path for the country’s transition to a cashless future,” said chairman of the UAE Banks Federation, HE Abdulaziz Al Ghurair. Earlier this week, Al Ghurair’s bank Mashreq announced plans to cut branches as part of a focus on digital banking.
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Mashreq Bank has launched Neo, a digital-only bank to cater to the needs of the millennial generation. The new bank provides a complete package of modern mobile and online banking services, including Samsung Pay wallets, carldess ATM transactions, Facebook …
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Drake & Scull International (DSI) has announced that it has successfully completed its capital restructuring program which started at the beginning of the fiscal year. The company also welcomed a AED500 million ($136.1 million) investment by Tabarak …
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DUBAI: A number of banks in the UAE are in talks with international counterparts to sell down their Qatar exposure as the Gulf’s diplomatic crisis drags on without resolution. Banking sources said it has become clear to many UAE bankers in recent weeks …
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Dubai-based Mashreq has confirmed its future as a branchless bank, with the launch of its digital entity Mashreq Neo. As reported in May, Mashreq was mulling the branchless route in a speech by CEO Abdul Aziz Al Ghurair at its 50th anniversary ceremony.
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Dubai: Dubai-based Souqalmal.com, the price comparison website for the banking and insurance sector, has pulled in some major investor interest to the tune of $10 million (Dh36.73 million). The new shareholders include GoCompare Group, which operates the …
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These are good times for private sector development in the region, especially in the UAE, KSA and Egypt, according to a survey by Emirates NBD, a prominent banking group in the region Despite softening slightly in September, growth in the UAE’s non-oil …
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One of the biggest remitttance houses in the Gulf, UAE Exchange, has joined investors to back local personal finance website Souqalmal, it was announced on Tuesday. Souqalmal.com has raised $10 million in a Series B fundraising round with new investors …
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The maritime engineering business, a unit of the government-owned Dubai World conglomerate, in 2012 had to use bespoke insolvency legislation to finalise its first restructuring after a hedge fund won a judgment against the firm for defaulting. Drydocks …
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Economic growth in the UAE is expected to increase to at least 3 percent in the medium term on the back of Expo 2020, according to Bank of America Merrill Lynch’s GEMs Macro monthly report. The bank’s MENA economist Jean-Michel Saliba said UAE real GDP …
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The breakneck innovation in the UAE on-line banking sector received a major fillip on Sunday with Mashreq Bank entering the fray by unveiling a full-service digital bank – Mashreq Neo. Announcing what it termed a new era initiative, the bank indicated that …
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These are the words of Aref Al Ramli (pictured right), Regional Head of Digital Banking for Mashreq, after the UAE-based lender launched Mashreq Neo, a full fledged digital bank that transformed the traditional banking landscape of the country, on October 1.
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