Banking & Finance

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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.

September 24, 2014

Al Ansari Exchange
08:46 GMT
(press release)

Al Ansari Exchange has announced the launch of a new rewards program for its customers remitting money to Arab countries from any of the Al Ansari Exchange branches in the UAE.

September 23, 2014

Hundreds of Israelis have filed lawsuits in a New York federal court against Arab Bank for allegedly holding accounts that financed attacks which killed members of their families
13:48 GMT

The law firm listed a number of errors made by the court during the trial.The trial was infected by scores of errors, and the Bank has very strong grounds for appeal.

The winner
12:37 GMT
(press release)

Al Hilal Bank, the progressive Islamic bank, has awarded the second of six 2015 Audi A8 luxury sedans it is giving away under its latest annual Savings Promotion running from July 15, 2014 to January 15, 2015.

Saleem Khokhar, the Head of Equities at NBAD’s Asset Management Group
11:21 GMT

The National Bank of Abu Dhabi (NBAD) has launched NBAD Shariah MENA Dividend Leader Fund, which invests in select dividend-paying companies traded on the most promising MENA equities markets.

 A positive response from bank customers to use their Emirates ID cards as ATM cards proves the UAE’s residents’ keenness to adopt latest technologies without any apprehension.
04:55 GMT

Since the bank introduced this service on September 7, more than 8,000 customers have registered their ID cards with the bank to use them as ATM cards.

September 22, 2014

is there and you will hear about it soon,” Sheikh Ahmed bin Saeed al-Maktoum, chairman of Dubai’s Supreme Fiscal Committee said.
04:55 GMT

One of Dubai’s top government officials said on Sunday that he expects state-owned conglomerate Dubai World to reach a deal on renegotiating its debt repayment schedule in the near future

September 21, 2014

Standard Chartered
06:53 GMT
(press release)

In line with its Emiratisation vision 2020: to be the International employer of choice for local talent, Standards Chartered is to organise the second edition of its UAE National Job Fair on September 25, 2014.

September 18, 2014

Middle East investors bought 87 per cent of the Goldman sukuk, while 11 per cent went to Europe and two per cent to Asian investors, a document from lead arrangers showed.
13:57 GMT

It was only the second sukuk issue from a conventional bank outside a predominantly Muslim country; HSBC issued $500 million of sukuk in 2011.

Mohammed Al-Nory, Head of Securities at NCB Capital
06:23 GMT
(press release)

NCB Capital, one of the largest Brokerage Service providers in the Kingdom, GCC’s leading wealth manager and the Kingdom’s largest asset manager, has introduced the new AlAhli Tadawul service with a total new interface.

Qatar has issued a new law to regulate charities in the Gulf state amid growing concern in the West over funding received by Islamic State militants.
04:55 GMT

Qatar has faced growing criticism, as the tiny Gulf state has used its hydrocarbon wealth to back a wide range of Islamists across the region.

September 17, 2014

The Middle East experienced a decline in its billionaire population over the past year.
17:14 GMT

The Middle East experienced a decline in its billionaire population over the past year.

Al Hilal Bank
09:33 GMT
(press release)

Al Hilal Bank, the Abu Dhabi –based progressive Islamic bank, has announced that it has recently integrated Snapchat, a photo messaging app, into its customer engagement strategy.

Emirates Islamic
08:01 GMT
(press release)

Emirates Islamic, one of the leading Islamic financial institutions in the UAE, today announced the launch of a five year Wakala investment option, with an expected profit rate of 2.5 per cent per annum.

Helped by a firmer US economy, China’s exports have picked up recently to be a rare source of cheer in an otherwise gloomy data landscape.
05:55 GMT

China’s foreign direct investment in August fell to a low not seen in at least two and a half years, underscoring the challenges to growth facing the world’s second-biggest economy.

September 16, 2014

FGB credit card
09:57 GMT
(press release)

FGB, one of the leading banks in the UAE, has announced that it will soon be launching “My Card” - UAE’s first truly personalised credit card.