Banking & Finance

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The GCC currencies are pegged or linked to the dollar, yet with local inflation rates that are five to eight times higher than the two per cent US CPI rate,
December 17, 2014 - 00:56 GMT
Matein Khalid warns on the effects of a strengthening US dollar to other currencies

December 9, 2014

Farhad Irani & Rohit Garg
09:19 GMT
(press release)

Mashreq, a leading financial institution in the UAE, has been awarded ‘SME Bank of the Year 2014’ at the second edition of the Arabian Business StartUp Awards.

Philip King, UAE Head of Retail at ADIB
08:10 GMT
(press release)

Abu Dhabi Islamic Bank (ADIB), a top-tier Islamic financial services group, has won the “Souqalmal.com People’s Choice Award for 2014” as the most recommended bank in the UAE.

Earlier in October, Governor of the CBE Hisham Ramez announced the payment of $500m to Qatar.
04:55 GMT

Foreign reserves reached $15.8bn at the end of November 2014, marking a $1.1bn decrease from $16.9bn in October.

December 8, 2014

Most stock markets in the Gulf fell on Monday after oil prices sank to new lows and Dubai's index dropped as investors dumped shares in Emaar Properties
17:07 GMT

While there was no fundamental reason for such a steep drop by Dubai's biggest listed property firm, the most likely explanation was a sell-off by investors.

During the event
07:55 GMT
(press release)

Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, commemorated the 43rd UAE National Day by organising a special ceremony held recently in Dubai.

During the event
04:40 GMT
(press release)

Doha Bank recently hosted a bowling and billiards tournament for its staff members and their families as part of its year-round employee engagement program.

December 7, 2014


Saudi Arabia pumps around 9.7 million barrels per day
12:05 GMT

Standard and Poor's has lowered the outlook for Saudi Arabia to stable from positive and Oman to negative on sliding oil prices.

Sharjah Islamic Bank building
10:20 GMT
(press release)

Sharjah Islamic Bank was awarded the Quality Assurance Certification by the Institute of International Auditors (IIA), USA branch.

Emirates NBD Head Office
07:41 GMT
(press release)

Emirates NBD, a leading bank in the region, today announced the launch of a campaign offering free local transfers to any bank account in the UAE.

December 4, 2014

Doha Bank
08:29 GMT
(press release)

Doha Bank, the leading private commercial bank in Qatar, has successfully closed a Project Finance deal of KD 25 Million with Kharafi National of Kuwait.

The government usually ends up spending substantially more than its budget plan, overspending by an annual average of 25 per cent in 2004-2013.
05:55 GMT

As recently as last month, the International Monetary Fund predicted Saudi Arabia would enjoy a fiscal surplus of 1.6 per cent of gross domestic product in 2015. Now, private economists are talking of a deficit of over 1 per cent..

Emirates NBD National Day
04:40 GMT
(press release)

Emirates NBD, a leading bank in the region, paid tribute to His Highness the late Sheikh Zayed Al Nahyan, and created a calligraphy portrait of the father of the nation at Dubai Mall.

December 3, 2014

National Bank of Oman
12:27 GMT
(press release)

National Bank of Oman today announced the appointment of His Excellency Abdul Rahman bin Hamad Al Attiyah and Mr. Mohammed Ismail Mandani Al Emadi to the Board.

Emirates NBD
06:54 GMT
(press release)

Emirates NBD, a leading bank in the region, today announced that it has extended its DirectRemit 60 seconds money transfer service to the Philippines.

December 2, 2014

Mr. Majed Essa Al Ajeel, the chairman of Burgan Bank
12:01 GMT
(press release)

Burgan Bank, Kuwait’s second largest commercial bank by assets, announced today the successful completion of its capital increase through the rights issuance announced earlier.