Banking & Finance

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Since 2001, S&P has only seen 20 international sukuk from issuers outside of Malaysia or the GCC (File Archive/Shutterstock)
April 21, 2014 - 13:00 GMT
Islamic finance is increasingly labeled as the future of finance, but the sukuk market largely remains outside of mainstream markets globally.

March 30, 2014

Abu Dhabi Islamic Bank
06:02 GMT
(press release)

Abu Dhabi Islamic Bank (ADIB), a top-tier Islamic financial services institution, hosted a road show on financial responsibility at American university of Dubai and Amity University.

March 27, 2014

During the event
10:11 GMT

Mashreq once again established itself in the region’s banking world, as the only bank to walk away with five major awards at the prestigious Banker Middle East Product Awards 2014.

First Gulf Bank booth at Eurofinance conference
09:54 GMT
(press release)

First Gulf Bank, one of the leading banks in the UAE, showcased the bank’s growing product capabilities across its Global Transaction Services.

Al Hilal Bank
05:25 GMT
(press release)

Al Hilal Bank, one of the fastest growing banks in the UAE, announced that its net profit for 2013 reached AED 441.4 million, reflecting a 42 per cent increase as compared to the AED 310.3 million posted in 2012.

March 26, 2014

National Bank of Abu Dhabi
10:19 GMT

The National Bank of Abu Dhabi (NBAD) lead- sukuk that was issued by the Dubai Department of Finance, has been named the UAE Deal of the Year at the recent Islamic Finance News Awards.

Banking has been a pioneer in this area and mobile banking is leading among many expatriates
09:55 GMT

Adoption of mobile banking is gaining traction in the UAE and it is expected to grow further with Dubai’s mobile initiative.

The International Monetary Fund, or IMF, urged GCC regulators to continue to ensure that banks maintain higher capital than required by minimum international standards.
00:25 GMT

The IMF team noted that GCC regulators are expected to follow the new Basel III liquidity requirements, but there may be challenges in agreeing on definitions of liquid assets and in developing market liquidity.

March 25, 2014

The Emirates Islamic Abu Dhabi Rewards Credit Card
11:55 GMT
(press release)

Emirates Islamic announced the launch of the Abu Dhabi Rewards Credit Card, which enables cardholders to benefit from a series of rewards and loyalty programmes at Abu Dhabi-based retail outlets and stores.

Al Ansari Exchange
10:54 GMT
(press release)

Al Ansari Exchange and Western Union have announced that the inter-university “Business for Better” competition this year will begin on March 25.

Tooran Asif, Head of Personal Banking, UAE, Qatar, Egypt, Mashreq
09:28 GMT
(press release)

Mashreq has introduced Mashreq Essentials - a new, easy and efficient way of banking which is offered to new recruits who are coming to the UAE to work.

“This sector is beginning to make waves in the U.K. but needs to be nurtured from alternative investment to major league player,” Heaton said.
03:47 GMT

London has taken in over 11.7 billion pounds of Islamic investment in the last 10 years, making it the largest Islamic financial center in the Western world.

In a statement to The Jordan Times on Monday, the bank said the employees, who resigned in October 2013, have withdrawn the money from other banks' ATMs.
02:38 GMT

Bank al Etihad on Monday announced that its internal auditing process has unveiled an embezzlement case concerning withdrawal of JD207,000 using two fake credit cards.

March 24, 2014

Group photo at the new Head Office
12:35 GMT

National Bank of Kuwait (NBK) today (Monday, 24March, 2014) opened its new Head Office in the United Arab Emirates in Dubai under the patronage of the Central Bank of the United Arab Emirates.

During the event
11:53 GMT
(press release)

National Bank of Fujairah announced that it has won “Best Customer Service - Corporate & Investment Banking”, “Best Trade Finance Offering - SME” and “Best Treasury Management” at the 2014 Banker Middle East Product Awards.

Among other gainers in Dubai were property developer Deyaar and construction firms Arabtec Holding and Drake & Scull.
03:55 GMT

The index rose 1.3% to 9,425 points, its highest level since July 2008.