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Emirates Development Bank, the key financial engine of UAE’s economic development and industrial advancement, has inked a Memorandum of Understanding (MoU) to create supply chain finance and working capital solutions for SMEs in collaboration with Trade Capital Partners (TCP). In alignment with government priorities, EDB continues to deliver on its mission of fostering a healthy, […]
Aligning with Qatar’s financial sector and fintech strategy, the Qatar Central Bank (QCB) aims to regulate and develop the financial sector in the country. The apex bank has issued instructions to the insurance policy comparison sites with the aim of licensing and regulating their operations in the country. The bank has further announced that companies […]
The Central Bank of the UAE (CBUAE) has revoked the license of Dirham Exchange, an exchange house operating in the UAE, and struck off its name from the register. It has also canceled the registration of RMB Commercial Brokers Co, a hawaladar operating in the country. The administrative sanctions were imposed on both the companies, […]
UAE-based Al Ansari Financial Services on Monday said that, it has sent a formal proposal to acquire majority stake in one of Oman’s prominent exchange companies. But, it has not disclosed the name of the Omani company or the terms of the potential deal. The company said, it received an initial approval subject to meeting […]
India’s central bank Reserve Bank of India (RBI) have updated their master directions on prepaid payment instruments, where travellers from G20 countries, including those from Gulf regions as well as the non-resident Indians (NRIs) can access the recently launched unified payments interface (UPI). Dr Bhagwat Karad, Minister of State for Finance said, most countries outside […]
Nomura Holdings Inc., financial firm based in Japan plans to hire over 40 private bankers in Asia and the Middle East in the next two years. The company is looking at tapping into an expanding pool of rich families and entrepreneurs in the region, based on the report by Reuters News on Thursday. The company […]
Arab Monetary Fund extends $615.8 million loan to support reforms in the financial and banking sector in Egypt. The sum extended within the framework of the structural adjustment facility in the financial and banking sector is equivalent to the amount of Arab accounting Dinar 153.475 million. The loan supports a reform program aiming at enhancing […]
Profits were up by 71% year-on-year, driven by diversified growth in the balance sheet, continued sales momentum and strong credit quality. The National Bank of Ras Al Khaimah (RAKBANK) reported strong financial results for the first half of 2023 (H1’23). As the bank accelerates strategic transformation for H1’23, the cost increases were 7 per cent […]
On Monday, M&T Bank Corp. surpassed Wall Street expectations for the first quarter’s earnings as a result of the U.S. Federal Reserve’s accelerated rate hikes to manage excessive inflation. Heavyweights in U.S. banking have also benefited from greater interest payments in the first quarter, avoiding a crisis brought on by the failure of two local […]
The 4th Annual Business Tabloid Awards, conducted at Atlantis The Palm, Dubai, UAE, on the 19th of January, 2023 witnessed a wonderful gathering of global award winners from the best organizations of the world. One of the esteemed participants, Emirates NBD Capital KSA’s Jawad Kiwan bagged the Outstanding Contribution to the Corporate Banking Sector 2022 […]
The 4th Annual Business Tabloid Awards, conducted at Atlantis The Palm, Dubai, UAE, on the 19th of January, 2023 witnessed a wonderful gathering of global award winners from the best organizations of the world. One of the esteemed participants, Alrajhi Bank bagged two awards in the banking sector – one for Best Corporate Bank 2022 […]
The 4th Annual Business Tabloid Awards, conducted at Atlantis The Palm, Dubai, UAE, on the 19th of January, 2023 witnessed a wonderful gathering of global award winners from the best organizations of the world. One of the esteemed participants, Banque Misr bagged the Best Digital Transformation in Banking 2022 award. Business Tabloid was proud and […]
