Banking & Finance

Featured Story:

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 8, 2014

The two parties met in court for the first time this week for a hearing to discuss costs incurred in relation to the abandoned application, among other issues.
13:07 GMT

Goldman Sachs has been ordered to pay the Libyan Investment Authority (LIA) 200,000 pounds ($321,820) in legal costs as part of a lawsuit brought by the fund over $1 billion in trades that ended up worthless.

Karol Piotr Ozimski (second from the left), winner of NBAD MasterCard International Spend Campaign
09:14 GMT

The National Bank of Abu Dhabi (NBAD) presented a 2014 Mercedes- Benz GL-Class luxury car to Mr. Karol Piotr Ozimski, the winner of this year’s NBAD MasterCard International Spend Campaign.

Sharjah City Centre branch opening
07:22 GMT
(press release)

Mashreq announced the opening of its latest branch located in Sharjah City Center, offering Evening Banking experience to customers for the first time in Sharjah.

Al Hilal Bank
05:52 GMT
(press release)

Al Hilal Bank, the progressive Islamic bank, has announced that it has been selected as a World Economic Forum (WEF) Global Growth Company (GGC) for 2014.

Mr. Y. Sudhir Kumar Shetty, COO, Global Operations, UAE Exchange, addressing the HR professionals at the Smart Pay HR Summit 2014 in Dubai
05:33 GMT

UAE Exchange Smart Pay organised the HR Summit 2014 recently in Dubai.

Abu Dhabi Commercial Bank
05:22 GMT
(press release)

Abu Dhabi Commercial Bank (“ADCB”) has received the accolade of ‘Best Cash Management Bank in the UAE’ from Euromoney for the 2nd time in a row , the leading international finance magazine.

October 7, 2014

Yousuf Ozair receiving the EU delegation
12:20 GMT

Experts from the European Commission hailed Dubai Customs exerted efforts in the field of intellectual property rights protection, as well as the department’s progressive development of systems and programs geared toward combating the smuggling and trafficking of counterfeit products.

The workshop brought together bank executives, representatives of international organisations and research centres as well as senior scholars
07:16 GMT
(press release)

Abu Dhabi Islamic Bank convened a high-level workshop in the United Arab Emirates last week to discuss the current status of the Islamic finance industry and how innovation can sustain its rapid growth.

October 2, 2014

Emaar Properties is now worth less than it was before the sale of 15 per cent of EMG in the IPO.
15:46 GMT

The DFM looks particularly overbought as one of the best performing stock markets in the world, up 50 per cent year-to-date, and could well be heading for a fall.

At the Africa forum, Shaikh Ahmed also expressed that Dubai’s leadership is concerned that rising property prices could make the emirate too expensive and it will consider steps to limit increases.
13:46 GMT

The new 2022 payment will also be augmented in a number of ways aimed at persuading creditors to grant more time, according to reports.

October 1, 2014

Jean Claude Farah, President, Middle East, Africa, Asia Pacific, Eastern Europe & CIS, Western Union having just completed a transaction using the automated self-service money transfer kiosk located in Dubai Internet City
11:15 GMT
(press release)

The Western Union Company announced that it has gone live with automated self-service kiosks in the UAE that allow customers to pay bills and send money to friends and family anywhere in the world via easy-to-use touch screen terminals on a 24x7 basis.

During the opening
11:02 GMT
(press release)

Doha Bank, the leading private commercial bank in Qatar, announced today opening of its first Electronic Banking Branch in Dubai.

September 30, 2014

On Sunday, Erdogan again slammed the credit agencies, saying they were making "foolish statements".
22:44 GMT

Markets are looking ahead to Fitch's announcement of Turkey's credit rating and economic outlook, which is due on Friday.

Strong economic data could prompt the US central bank to raise interest rates faster and sooner than expected, which could boost the dollar and hurt non-interest-bearing bullion.
17:58 GMT

Gold fell on Monday as downward pressure from a strong dollar outweighed support from unrest in Hong Kong.

First Gulf Bank
10:46 GMT
(press release)

FGB, one of the leading banks in the UAE, was recognised as an employer of choice in the UAE by the GCC Best Employer Brand Awards 2014.