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,
Matein Khalid warns on the effects of a strengthening US dollar to other currencies

November 5, 2013

Huda Abdulla, Executive Vice President and Head of UAE Nationals Segment at FGB, presenting the award to the winner
08:52 GMT
(press release)

Lucky First Gulf Bank (FGB) customer Chaudhary Muhammed Akram won AED 1 Million in the bank’s third First Saving Certificate (FSC) draw for the year.

One of ADIB Branches
07:24 GMT
(press release)

Abu Dhabi Islamic Bank (ADIB) has launched new capital-protected silver notes to allow customers to invest in a metal that analysts believe may soon see a price rebound.

The economic climate and investor sentiment has improved in the GCC. (Image credit: Getty)
06:47 GMT

Reuters reports that Dubai Financial Market (DFM), the Gulf's only listed stock exchange, reported a third-quarter net profit. Higher trading values and an overall bullish investor sentiment drove the growth.

Morsi and 14 other senior Islamists and Muslim Brotherhood figures are standing trial on charges of inciting violence and murder at the Ittihadiya presidential palace clashes in December 2012.
04:55 GMT

Morsi and 14 other senior Islamists and Muslim Brotherhood figures are standing trial on charges of inciting violence and murder at the Ittihadiya presidential palace clashes in December 2012.

November 4, 2013

UAE's Central Bank is imposing the new bank exposure rules in December in order to ensure that the country avoids future corporate debt crises similar to Dubai's most recent economic meltdown (Courtesy of the Business Recorder)
11:14 GMT

UAE's Central Bank will tentatively announce proposed new exposure rules for banking operations in the country in December.

Emirates Islamic Bank
08:22 GMT
(press release)

Emirates Islamic Bank, one of the leading Islamic financial institutions in the UAE, announced today the launch of a foreign currency remittance campaign focused on GCC currencies.

Before the growth of the SADAD system, many individuals paid a huge percentage of their bills in cash at bank branches. The electronic billing system has cut down the government's losses from using a manual, cash-based system (Courtesy of Saudi Lifestyle)
07:32 GMT

The Saudi Ministry of Finance announced that the country's electronic payment system, SADAD now caters to approximately 29 million users, making it the second largest system of its kind in the world.

Doha Bank office inauguration, Hong Kong
04:38 GMT
(press release)

Doha Bank, the leading private commercial bank in Qatar, inaugurated its Hong Kong representative office.

November 3, 2013

DI owns around 40 subsidiaries and joint ventures encompassing a diverse range of sectors.
13:32 GMT

Profit for the nine months ended September 30, 2013 was AED 531 million, an increase of 110 per cent as compared to AED 252 million achieved in the comparable period last year.

During the event
11:45 GMT
(press release)

Capital Club Bahrain and the Kingdom’s financial hub, Bahrain Financial Harbour (BFH), have joined forces in a partnership that will take the two business entities to a new level.

Setting a minimum and a maximum wage in Egypt has long been a popular demand.
09:59 GMT

Owners of businesses in certain fields or geographic areas might be spared the requirement to pay their employees a minimum wage.

The announcement was made at the World Islamic Economic Forum being held in London.
08:31 GMT

The IDB, which provides project financing for its 56-member countries, has expanded its sukuk programme to Dh37 billion from Dh24 billion previously, as it increases its financial support for economic and social development.

HSBC Bank Oman
04:50 GMT
(press release)

HSBC Bank Oman S.A.O.G. announced a 20.6% growth in net profit to reach RO12.7m.

October 31, 2013

Alex Thursby
11:40 GMT

The National Bank of Abu Dhabi outlined today NBAD’s Group transformation to achieve its strategic plans for domestic and international expansion.

07:00 GMT

The majority of expats in the UAE believe that their children are safer here than in their home countries, according to the results of HSBC’s annual Expat Explorer 2013 survey.