Dubai Islamic Bank has launched a five-year $1 billion sukuk due to mature in February 2023, the bank announced on Wednesday. The issuance, which emanates from the bank’s $5 billion sukuk programme, carried a profit rate of 3.65% and marks the first …
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In Aramco IPO, China talks crucial for choice of listing venue
London, Dubai: Saudi Arabia wants to complete talks with strategic … The decision shows the initial public offering (IPO), which could be the biggest in history, is becoming an increasingly difficult balancing act for Riyadh. Saudi officials have said …
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In Aramco IPO, China talks crucial for choice of listing venue – sources
LONDON/DUBAI (Reuters) – Saudi Arabia wants to complete talks with … The decision shows the initial public offering (IPO), which could be the biggest in history, is becoming an increasingly difficult balancing act for Riyadh. Saudi officials have said …
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UAE lenders upbeat about growth prospects in 2018
First Abu Dhabi Bank PJSC expects its loan book to grow by a mid-single digit percent this year compared with a 1 percent decline in 2017. Dubai’s biggest lender Emirates NBD PJSC also sees a mid-single digit percentage growth compared with a 5 percent …
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ASGC still considering IPO says CEO
The contractor had started preparations for an IPO in late 2015, having hired three banks as advisors to arrange for its listing on the Dubai Financial Market, a Reuters report said at the time, quoting sources familiar with the matter. However …
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UAE Central Bank to regulate finance leasing contracts
The UAE’s Federal National Council (FNC) has approved a draft bill to regulate finance leasing through the Central Bank, in a bid to improve the credibility of contracts offering terms that allow access to funds for large capital expenditure without …
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UAE’s Federal National Council approves draft finance leasing law
The UAE’s Federal National Council On Tuesday approved a draft law regulating finance leasing. The new law makes it illegal for finance leasing to be practiced in the country without a licence from the central bank. Any previous contracts signed without …
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UAE MoF: data protection more important than ever
This will contribute to establishing a sound economic environment that gains the trust of investors and financial institutions, and leads the UAE to become the preferred place to do business,” said Al Khoori. In 1980, the Organisation for Economic …
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Commercial Bank of Dubai appoints Emirati as a head of sales and distribution
Commercial Bank of Dubai, one of the leading financial institutions in UAE, announced the appointment of Khaled Rasheed Al Hammadi as its new Head of Sales and Distribution. The appointment is in line with the Bank’s Emiratization strategy. Al Hamadi …
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New exec hired to control spending at Dubai’s Careem
Dubai-based ride-hailing app Careem on Monday announced the appointment of a new senior executive to oversee the company’s long-term strategic and financial planning. Ashish Jain has been hired as VP of Strategic Finance and will bring significant …
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United Arab Emirates shares mixed at close of trade; DFM General down 0.44%
Investing.com – United Arab Emirates equities were mixed at the close on Tuesday, as gains in the Insurance, Real Estate & Construction and Services sectors propelled shares higher while losses in the Finance & Investment, Banking and Telecoms sectors …
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Dubai Financial Market : DFM signs MoU with Dubai Economy to boost service excellence
Dubai: Dubai Financial Market (DFM) said on Tuesday it has signed a Memorandum of Understanding (MoU) with Dubai Economy to launch a first-of-its-kind Brokers Excellence Rating initiative as part of its constant efforts to promote service excellence.
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Rogue financial adviser convicted by Dubai court in landmark case
A personal finance consultant has been convicted of running his business without a licence, amid claims that he invested his clients’ money in high-risk start up companies without their knowledge. Neil Grant was convicted by Dubai Criminal Court of …
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New laws will crack down on fraudulent financial advisers
The conviction of personal finance consultant Neil Grant yesterday in Dubai showed how easy it is to fall prey to unscrupulous investment advisers. Grant was convicted of running an unlicensed business, amid claims he funnelled his clients’ money into …
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Data protection more important than ever before, UAE finance ministry says
Dubai: To mark Data Privacy Day, the Ministry of Finance (MoF) has emphasised the importance of protecting personal data for financial transactions, in light of the digital revolution and the increasing global trends to protect individuals from the misuse …
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Dubai-based Bitcoin exchange to accept new verifications as Ripple is added
Dubai-based cryptocurrency exchange BitOasis is accepting new … Any new users wishing to purchase Bitcoin and Ethereum from the site must enter bank details, ID and proof of address before transactions more than that amount are enabled, a process that …
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UAE’s largest bank reports fall in profit after merger costs
First Abu Dhabi Bank (FAB), the largest bank in the United Arab Emirates, on Monday reported a 3.5 percent profit fall in 2017, citing costs linked to its recent merger. FAB, the combination of National Bank of Abu Dhabi and First Gulf Bank, said its full …
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