#finance

Edmond de Rothschild opens office in Dubai's DIFC

Edmond de Rothschild opens office in Dubai’s DIFC, aims to broaden regional presence

The UAE is already an important market for Edmond de Rothschild, and the new presence will enhance its ability to serve the clients in the region

ADNOC- Gas IPO

ADNOC Gas eyes $2bn from world’s biggest IPO this year

ADNOC is selling a 4 per cent stake in ADNOC Gas, with each of the 3.07 billion shares being offered at between Dhs2.25 and 2.43

Abu Dhabi Fund _photo courtesy WAM Wam

How Abu Dhabi Fund’s first development project in Nigeria will serve the community

The project is expected to stimulate commercial activities and improve transport links between the main cities in the country

DIFC aims to attract 50 hedge funds to Dubai photo courtesy Dubai Media Office twitter

Dubai’s DIFC in talks to attract 50 hedge funds

Dubai International Financial Centre is offering reduced licensing fees and capital requirements for hedge funds domiciling a domestic fund

ADGM signs MoU with Zand Bank

Abu Dhabi Global Market, Zand Bank join hands to support SMEs

The entities will jointly drive UAE national work placements and offer finance training, SME financing platforms, a fintech sandbox and corporate innovation programmes

Azerbaijan Banks Association - UBF sign MoU

UAE’s UBF, Azerbaijan Banks Association sign MoU to boost sectoral cooperation

The two parties will jointly organise workshops, training and awareness programmes to exchange knowledge and experience

UAE and Egypt sign Mpu to figth money laundering Photo courtesy WAM

UAE, Egypt sign MoU to support fight against money laundering, terrorism financing

As part of the agreement, training courses, seminars and conferences will be convened to raise awareness and understanding of AML/CTF 

Saeed Ahmad, Managing Director, Middle East and North Africa at Callsign on Crypto fraud

Opinion: Why financial institutes need to start taking crypto fraud seriously

Behavioural biometrics can help financial businesses authenticate users without purchasing any extra hardware or negatively affecting their user experience

Arada raises$50m from second tap of existing $450m sukuk

Sharjah’s Arada raises $50m from second tap of existing $450m sukuk

The second tap was executed based on investor feedback and inquiries, following extensive roadshows across the UK and GCC

RAKBANK records net profit rise of 53.4% to Dhs1.16bn in 2022

RAKBANK records net profit rise of 53.4% to Dhs1.16bn in 2022

The bank’s total income for 2022 was Dhs3.451bn, reflecting a 6.9 per cent YoY increase

Dubai-Islamic-Bank-sustainable sukuk e1643183109370

Dubai Islamic Bank successfully prices $1bn sustainable sukuk, its second so far

In November last year, DIB priced its inaugural sustainable sukuk, a $750m five-year senior issue with a profit rate of 5.493 per cent per annum

PIF acquires 30 % stake in Saudi tabreed-800x533-1

Public Investment Fund acquires 30% stake in Saudi Tabreed

Saudi Tabreed currently manages 779,000 tonnes of refrigeration (TR) via contracts with major companies in Saudi Arabia

Central bank of UAE launches FIT Programme

Central Bank of UAE launches Financial Infrastructure Transformation Programme

The first stage of the programme will see the launch of the Card Domestic Scheme, an instant payments platform, and the issuance of Central Bank Digital Currency

OPEC FUnd, AFC sign $50m loan image Getty for illustrative purposes

OPEC Fund, Africa Finance Corporation sign $50m loan to finance infrastructure development

The loan doubles the OPEC Fund’s commitment to AFC following an initial $50m 10-year loan provided in January 2021

Dubai's DIFC enacts new regulations for family-owned businesses

Dubai’s DIFC enacts new regulations for family-owned businesses, UHNWIs

The new rules provide guidelines for family businesses holding assets and operating in or from DIFC, in support of their succession and legacy planning for future generations

ESG investing in the MENA region

Insights: Maximising the potential of ESG investing in the MENA region

Investors in the region could be missing a big opportunity, as investment firms globally are facing increasing demand for ESG investment products that integrate thematic ESG strategies and comply with regulatory requirements

Emirates Islamic issues dirham denominated sukuk

UAE’s Emirates Islamic issues dirham-denominated sukuk valued at Dhs1bn

The three-year issue witnessed robust demand and was oversubscribed by 2.5 times

Dubai's VARA introduces regulations for 2023_Dubai-Media-Office-twitter

Dubai’s Virtual Asset Regulatory Authority issues regulations for 2023

As the authority providing VA oversight across Dubai with the exception of DIFC, VARA facilitates VA-associated economic stability, investor protection, and jurisdictional resilience

Saudi Omani conference Photo courtesy saudi press agency SPA

Saudi Arabia, Oman sign 13 investment agreements, value exceeds SAR1bn

The agreements were signed at the Saudi-Omani Investment Forum being held in Riyadh

VAT and accounting insights by Dr. Jeannette Vinke FCA, COO of the American University of Sharjah

Insights: How implementing VAT helped UAE’s accounting sector

The evolving landscape will require chartered accountants to steer the ship, bring clarity to the process and ensure compliance with regulations and policies

UAE Banks Savings Deposits in Nov 2022

UAE banks record Dhs246.6bn in saving deposits by end of Nov 2022

Saving deposits increased during the first 11 months of 2022 by 1.98 per cent, compared to about Dhs241.82bn at the end of 2021

Credit Suisse

Qatar Investment Authority ups its stake in Credit Suisse

Qatar Investment Authority becomes the Swiss bank’s second largest shareholder just behind the Saudi National Bank

UAE's FTA opens pre-registeration for corporate tax for select companies

UAE’s FTA starts pre-registration for corporate tax through EmaraTax, open to select firms

The Federal Tax Authority said the early registration is open from January to May for certain categories of companies operating in the UAE

OPEC Fund for development raises $1bn thru debut SDG bond _ photo courtesy OPEC FUND

OPEC Fund’s debut SDG bond raises $1bn

The bond proceeds will be allocated according to the specific criteria defined in the SDG Bond Framework focusing on food security, healthcare, infrastructure, education, employment, and renewable energy

wealth management trends - Abdulmohsin Al Omran, founder and CEO, The Family Office,

How is wealth management faring across the GCC?

Abdulmohsin Al Omran, founder and CEO, The Family Office, gives Gulf Business the lowdown

Jadwa divests stake in Luberef

Davos 2023: Saudi Arabia open to talks on trade in currencies besides dollar

The world’s largest oil exporter is seeking to strengthen its relations with crucial trade partners

Banking

Here are the top 5 tools and technologies for smart banking

Technology integration in banking has exposed a whole new spectrum of capabilities that can be leveraged to improve performances by gaining an intricate understanding of operations

Saudi National Bank to raise capital in Credit Suisse by $4.1bn

Saudi National Bank to raise capital in Credit Suisse by $4.1bn

Saudi National Bank was an anchor investor in Credit Suisse’s capital raise and now holds 9.9 per cent in the firm

Tesla appoints Vaibhav Taneja as CFO

Dubai Islamic Bank launches financing solution for future Tesla owners

The fully digital financing process will make it easier for Tesla customers to apply for auto financing and improve their buying experience

Central-Bank-of-the-UAE

UAE Central Bank issues new anti-money laundering guidelines

The new guidelines involve the use of digital ID systems by LFIs to address their customer due diligence obligations