Banking & Finance

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Bullish comments about Arabtec and its shares by then-chief executive Hasan Ismaik, who resigned in June, helped to fuel investor interest in the stock.
July 8, 2014 - 15:34 GMT
in a statement after its chief executive met with heads of the central bank, the economy ministry and the Dubai and Abu Dhabi stock exchanges.

April 13, 2014

Bank Muscat customers will be able to purchase insurance policies within the network of the bank’s branches
15:03 GMT
(press release)

Bank Muscat today announced that they have entered into a 10-year strategic bancassurance agreement under which AIG will become the exclusive provider of non-life insurance products to Bank Muscat customers in Oman.

Abu Dhabi Commercial Bank
12:42 GMT

In its continued drive to bring banking closer to people’s needs and ambitions, Abu Dhabi Commercial Bank (ADCB) has announced the launch of ‘SimplyLife’, a consumer finance brand specializing in simple, quick and accessible personal finance products.

Bankers are making a bigger effort to improve customer services within UAE banks (File/AFP)
11:30 GMT

A senior banker has said customer service within the banking sector is "complex and difficult," but efforts are being made to change this.

IMG Worlds of Adventure
10:07 GMT
(press release)

Abu Dhabi Islamic Bank has arranged and successfully closed an AED 1.2 billion Syndicated Islamic Facility for IMG Theme Park LLC, the company behind IMG Worlds of Adventure.

April 10, 2014

The ‘Find the Futebol’ app
10:00 GMT
(press release)

Mashreq, a leading financial institution in the UAE, launched an app earlier this March, which has significantly increased audience participation and engagement of their social media channels.

Partnership between Emirates NBD & Zomato
09:41 GMT
(press release)

Emirates NBD, a leading bank in the region, announced today that it has entered into a partnership with popular social restaurant discovery service Zomato.com.

April 9, 2014

The scenario's basic assumptions are a reduction in GDP, a sharp rise in the interest rate, a 20% drop in home prices, and a 12% unemployment rate
17:49 GMT

A recession like the one in 2002 would cause 23,000 families to struggle to meet payments.

First Gulf Bank
12:13 GMT
(press release)

First Gulf Bank (FGB), one of the leading banks in the UAE, has announced the launch of a new ‘Insta’ product range from its Bancassurance department.

Emirates Islamic Debit Platinum
10:05 GMT
(press release)

Emirates Islamic unveiled its new range of Shari’a compliant MasterCard Debit Cards, which are tailored to meet the specific needs of various customer segments.

In the United Arab Emirates, where real estate prices are rising at a fast pace, the award of World Expo 2020 has further strengthened growth prospects
07:36 GMT

The International Monetary Fund (IMF) has revised the UAE’s 2014 GDP forecast to 4.4 per cent on the back of rising real estate prices and the Expo 2020 win.

While revenues of banks in Qatar grew by 20 percent and banks in the UAE are back to double-digit growth overall, Saudi, Omani and Bahraini banks are experiencing single digit growth rates.
03:55 GMT

Again, the performance of Middle East banks clearly exceeded that of their international counterparts, a number of which experienced further revenue declines in 2013.

April 8, 2014

Dubai Islamic Bank annual Performance Excellence Awards
12:14 GMT
(press release)

Dubai Islamic Bank (DIB) held its annual Performance Excellence Awards (PEA) ceremony to recognise and reward its employees for their effort in achieving the highest standards in organisational excellence.

Mashreq
08:16 GMT
(press release)

Mashreq Al Islami, the Islamic banking division of Mashreq continued to strengthen its Islamic Products arm with the launch of its flagship Islamic Equity Fund, Al Islami Arab Tigers Fund.

April 7, 2014

Egypt’s foreign reserves rose to $17.414bn in March from $17.307bn in February, the Central Bank said on Monday.
20:01 GMT

Egypt aids are lifted by billions and billions of Gulf aid.

Andre Sayegh, CEO of First Gulf Bank
12:27 GMT
(press release)

First Gulf Bank (FGB), one of the leading banks in the UAE, has announced that Hana Al Rostamani has been appointed as Head of Consumer Banking Group.