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
The T-Sukuk will first be issued in two, three and five-year tranches, followed by a 10-year tenure sukuk at a later date
This partnership will help fast-track the account opening process for SMEs and deliver seamless banking services through the Wio Business app
Organisations that qualify for the exemption include entities that focus on activities such as philanthropy, community services and corporate social responsibility
The Islamic lender is the 11th commercial bank to join EDB’s credit guarantee scheme platform
The Dalio Family Office helps handle the billionaire’s private investments as well as his philanthropic donations
The bank’s balance sheet expanded by 1.3 per cent YTD to Dhs292bn while customer deposits settled at Dhs198bn
The bank’s net interest income rose by 33 per cent to Dhs2.85bn while non-interest income surged by 34 per cent to reach Dhs1.06bn
The central bank said saving deposits in the banking system have increased in recent years, from Dhs152bn in 2018 to Dhs241.8bn in 2021
The universal bank said the move comes in light of its efforts to drive shareholders’ value by optimising its operations and improving the return on equity metric
The board of directors studied the non-binding proposal from Bank Dhofar and decided not to accept it
The agreement streamlines the digital onboarding process for Mashreq customers, allowing them to instantly obtain a national investor number