Banking & Finance
July 8, 2014
Foreign reserves are now the lowest since the ouster of former president Mohamed Morsi in July 2013.
July 7, 2014
Gulf markets ended their worst quarter in many years, as almost all indices in the region ended the month on a negative note.
Emirates NBD, the leading banking group in the region, has announced that its Investment Bank is ranked as the leading arranger of USD Sukuk globally.
ACWA Power today announced the signing of the subscription agreement by International Financial Corporation (IFC), a member of the World Bank Group.
Mashreq announced that its Internal Audit function had been assessed to be in “Conformance” with The IIA’s International Standards for the Professional Practice of Internal Auditing.
The resolution replaces old amendments to the Sales Tax Act, which were not implemented and were postponed after facing broad popular opposition.
July 6, 2014
Standard Chartered Saadiq, the Islamic Banking division of Standard Chartered Bank, inaugurated its first dedicated Islamic Banking Center in the UAE at the Al Khalidiya Branch in Abu Dhabi.
Dubai Islamic Bank, the largest Islamic bank in the UAE, has announced the launch of Smart Bank.
July 3, 2014
Emirates Islamic announced Middlesex University as the winners of the Innovation Challenge, a competition which invites students from UAE Universities to devise social media solutions for the banking industry.
AhramOnline reported Tuesday that the construction tycoon has been sentenced in absentia to three years imprisonment on charges of tax evasion.
July 2, 2014
Mashreq, one of the UAE’s leading financial institutions, today launched the world’s first online & international mobile top-up and bill payment service, another quick and hassle free payment facility for consumers.
Al Hilal Bank has successfully priced USD 500 million Perpetual Additional Tier 1 sukuk certificates, marking the first Tier 1 issuance out of the Middle East since May 2013.
The National Bank of Abu Dhabi (NBAD) has launched the Cash Plus Fund, a fund designed to offer liquidity, capital preservation and yield enhancement.
July 1, 2014
“The wages system in Egypt is closer to randomness than to being organised,” the minister said, adding that “a project for income law will be submitted to the cabinet during the coming period.”
Emirates Islamic, one of the leading Islamic financial institutions in the UAE, announced the launch of a 360º community outreach programme.