The committed resources for the fund are aimed at supporting 32 member countries of the bank to achieve 10 of the 17 Sustainable Development Goals
The performance is attributed to a strong increase in exchange income from bank notes, pre-paid cards products, operating leverage and rise in transactions through digital channels
The company achieved a robust revenue increase of 50 per cent versus Q1 2022, reaching Dhs15.7bn during Q1 2023
The T-Sukuk auction will be followed by a listing on Nasdaq Dubai to promote secondary market trading along with primary dealers
The bank is now two years into an ambitious five-year strategy aimed at empowering SMEs and large corporates in five priority sectors
The bureau will enable the DIFC Innovation Hub community to tap into new data sets to boost fintech development in the UAE market
New customers who apply for a credit card through the bank’s app will also enjoy a host of benefits, including cashback up to Dhs1,000
The joint initiative aims to encourage national talent, drive innovation and entrepreneurial growth
The share sale comes just a few months after state-owned ADNOC raised $2.5bn in the listing of its gas business
With clear ethical frameworks and accountability in place, businesses can have the confidence that they are acting morally and ensure trust is maintained by protecting their data
The UAE Cabinet’s resolution has expanded ADGM’s jurisdiction to Al Reem island in addition to Al Maryah island
The bank’s credit guarantee scheme aims to help SMEs overcome challenges in accessing financing from conventional banks
Saudi banks stand to remain on a profitable path in 2023 with corporate lending continuing to drive credit growth in the sector
The state investor said the deal is in line with its strategy to create long-term value by optimising a global portfolio of investments
The enactment of the new regulations supports the DIFC Launchpad by providing a legislative framework for venture building
The open banking platform plans to use the proceeds of the Series A funding round to accelerate growth in Saudi Arabia
The company secured approval from the Saudi Capital Market Authority to offer 21,000,000 shares, representing 30 per cent of its issued share capital
Central banks in the GCC usually track the Fed’s policy rate moves as their currencies are pegged to the US dollar
The DIFC Innovation Hub has launched wide-ranging initiatives designed to nurture entrepreneurship and support startups
As the region’s banks double down on their ESG efforts, the implementation of a comprehensive strategy with data governance at its core has never been more important
The bank will provide exclusive benefits to Khalifa Fund members in accordance with the agreement
The bank’s investment in Credit Suisse plunged by approximately 20 per cent by the end of 2022 and a further 70 per cent in Q1 2023
The crypto trading platform plans to launch new virtual asset products with a continued focus on driving accessibility and consumer protection
The plan will see 5,000 UAE nationals employed in the banking and financial sector by 2026
The drive for economic diversification and state-backed initiatives together with financial support for startups is fuelling Middle East’s venture capital industry
RAKBANK reported a record total income of Dhs1.07bn for the first quarter
The bank reported an operating profit of Dhs1.8bn, up 96 per cent compared to the same period a year earlier
Emirates NBD also enjoyed a record quarter for income, which exceeded Dhs10bn for the first time ever
The Islamic bank made a profit of Dhs1.1bn in the three months to March 31, up from Dhs715m in the same period last year
The banking group’s operating income jumped 51 per cent YoY to reach Dhs6.7bn compared to Dhs4.5bn in the first quarter of 2022