Banking & Finance

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CEO of Emirates NBD, Shayne Nelson, said in-market mergers  work better monetarily (File/AFP)
August 26, 2014 - 07:31 GMT
It's getting too crowded in the UAE banking sector with too many lenders competing with one another to please a small population, according to a senior banker.

August 5, 2014

During the event
08:54 GMT
(press release)

Burgan Bank announced today that it has won the coveted ‘Best Domestic Cash Management Bank of the Year” award from the Asian Banking and Finance Magazine’s Wholesale Banking Awards 2014 in Singapore.

Nimish Dwivedi, Head of Payments, Mashreq
07:21 GMT
(press release)

Affirming its commitment to its customers, UAE’s leading financial institution announced a host of exceptional surprises including additional rewards for its debit and credit cardholders during Dubai Summer Surprises (DSS) 2014.

t the moment foreigners cannot directly own Saudi Arabian stocks. But they can enter into a complex proxy arrangement whereby a Saudi national owns the shares but they benefit from the share price movements and dividends.
04:55 GMT

Foreign investors spend a total of $941 million on Saudi proxy shares last month, more than double the amount in June after an announcement promised full ownership rights early next year.

August 4, 2014

During the event
11:49 GMT
(press release)

Dubai Islamic Bank, the largest Islamic Bank in the UAE, has announced today that it has signed an agreement with Union Properties PJSC, the property developer, to provide it with an AED 360 million re-financing facility.

During the event
10:32 GMT
(press release)

In continuation of its free training programs geared toward SMEs, Jordan Ahli Bank's Small and Medium Enterprise (SME) Academy Unit recently held a new training workshop on essential human resources planning.

Interactive Intelligence founder and CEO Dr. Donald E. Brown
05:25 GMT
(press release)

Interactive Intelligence Group reported record attendance at its global INTERACTIONS 2014 customer and partner conference, which drew 2,200-plus attendees from 42 countries.

The conglomerate, in which sovereign fund Investment Corp of Dubai owns an 11.5 per cent stake, posted a net profit of Dhs805 million ($219.2 million).
04:55 GMT

Dubai Investments said on Sunday that its net profit for the first six months of the year more than doubled, on the back of gains from the divestment of one of its assets.

August 3, 2014

Investment Dar was one of several local financial firms which struggled to refinance debt in the aftermath of the global economic crisis.
18:57 GMT

Investment Dar has been embroiled in a long-running legal battle with Commercial Bank of Kuwait over a stake in Kuwaiti Islamic lender Boubyan Bank.

Foreign investors were net buyers of LE609.1 million worth of shares, however the Egyptians were net sellers with LE603.7 million.
13:50 GMT

Egypt's stocks hit a whopping rise on Thursday in the first trading following Eid Al-Fitr holiday, as the main index registered its highest increase in six years.

Burgan Bank
12:24 GMT
(press release)

Burgan Bank announced today the names of the lucky winners of its Yawmi account draw, each taking home a prize of KD 5,000.

Faisal Aqil, Deputy CEO - Consumer Wealth Management, Emirates Islamic
11:18 GMT
(press release)

Emirates Islamic launched an exclusive campaign in collaboration with MasterCard, to encourage debit card use by customers travelling abroad, with the chance for one lucky customer to win a Mercedes-Benz SLK200 roadster.

During the event
06:24 GMT
(press release)

Jordan Ahli Bank recently inaugurated its 55th branch in Irbid’s Industrial Zone.

During the event
05:55 GMT
(press release)

Al Hilal Bank, the progressive Islamic bank, once again celebrated Ramadan with a special campaign called ‘Jood Bil Khair’ (‘do good’) which eventually donated AED 1 million to over 10 charities across the UAE.

July 31, 2014

Exchange houses recorded a significant increase in remittances from the UAE during Ramadan as expatriates sent additional money to their home countries for Eid spending.
04:55 GMT

“There was an increasing trend of expatriates starting to save and send back more money from June onwards, to set the festive mood and bring smiles to their families and friends back home.”

July 30, 2014

The line provides reassurance about Morocco's economic policies to foreign lenders, investors and rating agencies, allowing it to tap international capital markets at favorable borrowing terms.
04:55 GMT

The International Monetary Fund said on Monday it will provide Morocco a $5 billion credit line to help the North African country pursue a reform agenda to achieve rapid and more inclusive economic growth.