Total banking assets booked in DIFC stood at $178bn in 2019
The amount is available as direct loans to foreign buyers and as lines of credit to international financial institutions importing goods and services from UAE companies
Late last month, the UAE central bank urged banks to reschedule loans and reduce fees
Chief strategy officer Dennis Johnson and head of risk, Martin Botha, have exited the company
Last year Abu Dhabi Commercial Bank officially merged with Union National Bank and the combined entity acquired Al Hilal Bank
The sukuk makes IsDB the leading sukuk issuer by total value on Nasdaq Dubai
The UAE has, so far, reported 21 cases of coronavirus of whom five have fully recovered
The platform will make it easier for new companies to do business in the UAE, removing existing paper-based KYC processes
The loan is expected to finance about 37,000 projects over the next four years and create over 200,000 jobs in the African country
Emirati banks received approximately 89.8 per cent of the total investments
BlueNau is the fourth cellular agriculture startup that KBW Ventures has invested in
Vision 2030 aims to increase non-cash payments to 70 per cent of all payments by 2030
Falling reserves and inflows have led to a shortage of foreign exchange in Lebanon, disrupting the financial system
It raises Dar Al-Arkan’s total sukuk value listed on Nasdaq Dubai to $2bn
Saudi Arabia accounted for 54 per cent of the UAE’s total banking investment
Enness’ DIFC office was fined for carrying out activities outside the scope of its licence
Remittances are down 2.4per cent year-on-year
Egypt’s second-largest state-owned lender will use the debt to finance small-and-medium-size enterprises, among other purposes
The launch will enable Chinese tourists to transact seamlessly with Network International’s merchant network in the UAE via their WeChat mobile wallet
Saudi British Bank, which is 29 per cent owned by HSBC, completed the acquisition of Alawwal Bank last year to create the kingdom’s third-largest lender
Of Saudi Arabia’s 33 insurance companies, 10 made a loss last year, with the bulk of profits being earned by two companies — Bupa Arabia and Tawuniya
Abu Dhabi Islamic Bank is seeking to save about Dhs500m by cutting jobs and closing branches
The highest ranking entries from the world of finance in Gulf Business’ annual Arab power list 2020
The ‘KYC Blockchain Consortium’ will facilitate faster and more secure exchange of digital customer data and documents through the blockchain technology
Egypt’s programme to offer stakes in state-run firms is part of a broader plan to revive the economy
Starting on Monday, February 17, Middle East Airlines will only accept foreign currency payments
The bank’s total income amounted to Dhs13.68bn in 2019, up 17 per cent from Dhs11.73bn in 2018
The bank’s group net revenues for 2019 grew 2.5 per cent to Dhs5.91bn compared to Dhs5.769bn in 2018
The bank offered a three-year £450m ($583m) note at a yield premium of 98 basis points over UK gilts
Abu Dhabi Islamic Bank is reportedly planning to close local and international branches