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 5, 2013

While Syria is not a big oil producer, investors are worried that a strike by Western forces against the country could spread unrest in the Middle East and disrupt supply from the region that pumps a third of the world’s crude.
13:29 GMT

Stock markets in the UAE and other Gulf countries continued to plunge on fears of an imminent attack on Syria.

NBAD’s Ratibi extends financial services to 500,000 workers
11:40 GMT

The National Bank of Abu Dhabi’s Ratibi Card has been selected by international organizations and academic institutions as a successful model to extend banking products to the unbanked segment of society.

Nearly 80 per cent complete and located in a prime residential area in close proximity to Dubai Mall, Emirates Towers, Burj Khalifa and the Financial Centre metro station, the Central Park tower will comprise 426 apartments (Pictured: Dubai's International Financial Centre).
11:20 GMT

“Central Park has been launched at an opportune time, when Dubai is experiencing growth and has proven its status as one of the most profitable locations for investments."

In 2011, a small group of activists and shareholders informally investigated the performance of the company, discovering several instances of corruption.
10:55 GMT

The lawsuit is one of the first legal actions ‎stemming from anti-corruption trends in Jordan.

Doha Bank customer receives free air tickets from redeemed points
05:41 GMT
(press release)

Doha Bank congratulated its Dream Credit Cardholder Mr. Samer Abboud on completing the highest redemption of Doha Bank Dream Loyalty Points in 2013.

September 4, 2013

Tony Graham as Head of Retail Banking, UAB
11:33 GMT

United Arab Bank announced that it has appointed Tony Graham as Head of Retail Banking, with immediate effect.

Dubai’s benchmark index hit the lowest close since July 16.
09:29 GMT

Most other regional shares also fell amid reports of a joint missile test by the United States and Israel.

September 2, 2013

Concerns however remain depending on how the situation evolves in the coming days.
14:23 GMT

“Today’s market move was a partial reversal of the massive knee jerk reaction we saw last week, precipitated no doubt by the delay we saw in the US intervention and led by retail investors,” said Amer Khan, director at Shuaa Asset Management.

"Priceless Arabia will give cardholders unique experiences in one of the world’s most diverse and exciting regions,” said MasterCard.
10:18 GMT

MasterCard has launched its Priceless Arabia campaign, which brings the global Priceless Cities programme to the Middle East and North Africa for the first time.

Mashreq
08:46 GMT
(press release)

Mashreq, the UAE’s leading financial institution, announces the launch of the new Snapp, the region’s best mobile banking service now on the Windows 8 platform.

Arif Mubarak, CEO Arady Developments
05:47 GMT
(press release)

Arady Developments announced the launch of its 48-storey residential tower, a part of the prestigious ‘Central Park’ project at the Dubai International Financial Centre.

September 1, 2013

HSBC will discontinue sales of any new Wealth Investment or Wealth Insurance products in Lebanon, Jordan and Bahrain from 07 October 2013.
14:39 GMT

“Existing Wealth customers will continue to receive basic services and their wealth investments will be maintained until maturity."

Saif Al Mansoori and Ahmed Hashim Khoury at the signing ceremony
12:51 GMT
(press release)

Emirates NBD as the main sponsor of its various activities for the fifth consecutive year.

HSBC
11:52 GMT
(press release)

HSBC Bank Oman has rewarded five lucky Mandoos Savings Scheme customers with cash prizes of 20,000 Omani Riyals each.

The bank has said it is providing financial institutions with U.S. dollars at the rate of 175 pounds since last month.
10:45 GMT

The pound seemed to recover slightly on the black market, but was still much weaker than before Western powers weighed military options.