The Public Investment Fund is raising about $15bn from a group of international banks to finance new investments
Within one year, 19,182 members of the DIFC workforce have been enrolled in the plan
Mohammed was previously head of Abu Dhabi coverage for HSBC global banking
Operations under the new name and structure are planned to start on April 1, 2021
Customers are expected to transfer to the ADCB banking platform during the first half of 2021
The bank recorded a a full year 2020 net profit of Dhs10.6bn
The amount will help fund international programmes that meet the medical, nutritional, and food security needs of the country
The fine was imposed because the individual had no authorisation to undertake a function that required prior approval from the Central Bank
Authorities had reduced the cap to 5 per cent in March 2020 to contain the fluctuations triggered by the pandemic
Merger of Finablr assets and BFC would create regional financial services giant
The kingdom is planning a two-part, benchmark-sized deal with a three-year and nine-year offering
Total expenses during that period are projected at KD114.1bn
The government’s also attempting to push through parliament legislation allowing it to tap international bond markets
BCG says earnings could shrink by -2.1% annually between 2019 and 2024
The GCC is catching up with developed markets in terms of financial inclusion
Jenaan to import raw materials from Borouge to manufacture and supply irrigation systems
A Dhs100bn Targeted Economic Support Scheme initiative was launched by the CBUAE in March 2020
The appetite for tech firms has been increasing among Gulf investors as governments in the region step up efforts to steer their economies away from oil
The order was secured by NMC’s biggest creditor, Abu Dhabi Commercial Bank
FlexxPay is currently available in the UAE and Saudi Arabia, and will be launched in Bahrain next month
Money not being spend in the next one to two months can be put to much better use in an interest-accruing account or investments
Family businesses contribute to more than 90% of the economic activity in the country
Banks and financial institutions must opt for online credit process with automated elements – offered by companies such as Comarch – to ensure they meet the current market needs
NMC is undertaking a complete restructuring of its balance sheet following the discovery of significant fraud and debt
The exchange house reportedly has a weak anti-money laundering and combating financing of terrorism compliance framework
Saudi Arabia was hit hard last year as a drop in crude prices decimated government revenue while measures to stop the spread of the coronavirus limited economic activity
Matrix International picked for financial compliance and fraud prevention
The authority has also restricted him from performing any function in connection with the provision of financial services in or from the DIFC
The value of securities traded on the exchange increased 28 per cent to Dhs72.8bn in 2020 from Dhs56.8bn in 2019
To generate liquidity, the government began last year swapping its best assets for cash with the $600bn Future Generations Fund