Banking & Finance

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Conversions of conventional banks into Islamic ones are rare but not unprecedented.
October 23, 2014 - 17:41 GMT
The Council of Senior Scholars, said investing in NCB's share offer was not permissible because too much of its business was non-Islamic.

October 15, 2014

The startup will be looking to invest primarily in the UAE and Saudi Arabia (File/AFP)
12:04 GMT

UAE-based startup Amanat Holdings will invest in up to six businesses over the next two years. The firm is looking at the GCC's healthcare and education sectors.

2014 junior rugby tournament
10:29 GMT
(press release)

In just 5 days, 3 teams will come together to play against the world’s top rugby teams in the 2014 junior rugby tournament. This year’s tournament will be held over the weekend of 17th and 18th October.

October 14, 2014

The continuous and impressive climb by the dollar expresses a substantial change in the trend in the dollar in 2014."
14:24 GMT

"The shekel-dollar rate has risen for the tenth successive week, reaching a peak of NIS 3.738/$ last week."

Saudi and Dubai stocks plunged by 6.5 percent but are now recovering (File/AFP)
14:04 GMT

After a rocky Monday, most stock markets in the Middle East recovered with Saudi Arabia and Dubai leading the figures.

Group photo of the graduates along with Gulf Bank’s management and IBS management
08:41 GMT
(press release)

Gulf Bank has announced the launch of its Graduate Development Program, developed as part of its Human Resources’ Leadership Development and Succession Planning initiative.

The Central Bank chief also explained that he requested the IMF send a delegation to Lebanon "to evaluate the cost borne by the country as a result of receiving displaced Syrians."
00:14 GMT

“The IMF does not have any reservations about the performance of Lebanon, and it understands what the region is going through and its impact on us.”

October 13, 2014

Bourses in the region posted their biggest losses in years on Sunday as global markets' decline at the end of last week served as a trigger for aggressive profit-taking.
23:53 GMT

Stock markets in the Middle East appeared to be stabilising in early trade on Monday after falling sharply in the previous session in a broad sell-off.

Senior officials from Emirates NBD and MetLife celebrate launch of the partnership
11:07 GMT
(press release)

MetLife and Emirates NBD have celebrated the launch of their strategic partnership to provide comprehensive life insurance solutions to the bank’s more than one million customers in the UAE.

National Bank of Fujairah
09:40 GMT
(press release)

National Bank of Fujairah announced the official launch of an equipment finance unit capable of supporting not just the asset acquisition requirements of companies, but the financing arrangements of equipment manufacturers and distributors operating out of the UAE.

In August, the capital market rose to the 9,000 points for the first time since 2008.
04:55 GMT

Discussing the trade behaviour, EGX noted that foreign and Arab investors were directed towards selling while Egyptian sought to buy

October 12, 2014

David Marshall, Senior Executive Officer, Emirates NBD AM
11:25 GMT
(press release)

Emirates NBD Asset Management announced today the launch of eight new funds under the Emirates NBD SICAV platform in Luxembourg.

The Mashreq Novo Credit Card
11:00 GMT
(press release)

Mashreq announced the launch of UAE’s first 3-in-1 Cinema Credit Card, the Mashreq Novo Credit Card, co-branded with Novo Cinemas (previously Grand Cinemas) and powered by never-before loyalty benefits.

October 9, 2014

HE Saeed RashidAl Yateem,Assistant Undersecretary of Resources and Budget Affairs at MoF
11:12 GMT
(press release)

The Ministry of Finance (MoF), in collaboration with the National Bank of Abu Dhabi (NBAD), will be launching a range of e-Dirham smart applications during GITEX Technology Week 2014.

The total of the loan package has surged to $6.45 billion.
04:55 GMT

In May of last year, the Central Bank of Turkey paid the country's final loan installment, freeing Ankara of IMF debts for the first time in 19 years.

October 8, 2014

He added that the central bank will reimburse that sum in case the Qatari government requests the money back.Egypt's net international reserves inched up to $16.8 billion in August, but are expected to decline if Egypt returns the two deposits.
15:20 GMT

Qatar backed Egypt with $7.5 billion in deposits during the presidency of the Muslim Brotherhood's Mohamed Morsi,