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,
December 17, 2014 - 00:56 GMT
Matein Khalid warns on the effects of a strengthening US dollar to other currencies

October 8, 2013

Gul Khan, Head of Consumer Banking ADIB Egyp
05:53 GMT
(press release)

Following the expansion plan of Abu Dhabi Islamic Bank (ADIB) - Egypt in the Egyptian market, ADIB Egypt, launched its new campaign entitled "Saving Festival".

October 7, 2013

Al Hilal Bank
11:17 GMT
(press release)

Al Hilal Bank (AHB), rated A1by Moody's and A+ by Fitch, priced its highly successful debut USD 500 million Sukuk issued at par with 3.267 per cent semi-annual profit rate.

Dubai Islamic Bank
09:05 GMT
(press release)

Dubai Islamic Bank has announced that it is offering free remittances for its customers transferring funds to Pakistan.

NCB Capital
07:56 GMT
(press release)

HSBC and NCB Capital announced the completion of the largest ever government guaranteed Sukuk in Saudi Arabia for the General Authority of Civil Aviation.

October 6, 2013

Kuwaiti officers are treating the case as one of money laundering.
12:09 GMT

A Syrian caught trying to smuggle 500,000 euros in cash through Kuwait airport said that he had received the money from charity organisations.

Fawaz H. Al-Fawaz, a Riyadh-based economic consultant, said: “There is no risk to Saudi financial system, as the Saudi riyal is pegged to the dollar.
10:57 GMT

“The repercussions of a US default will be catastrophic for the global economy, but we are far from that," said chief investment strategist at Masic.

Al Ansari Exchange
10:11 GMT
(press release)

Al Ansari Exchange has announced the launch of a new rewards program for customers transmitting money to any Arab country from any Al Ansari Exchange branch in the UAE. The program will run until November 30, 2013.

October 3, 2013

EIB officials with the winners of the card design competition
12:01 GMT
(press release)

Emirates Islamic Bank, one of the leading Islamic financial institutions in the UAE, today announced the winner of the recently completed card design competition for talented young artists.

Nimish Dwivedi, Head of Payments at Mashreq
09:20 GMT
(press release)

Mashreq, which won both the Best Credit Card and Best Debit Card award earlier this year,announced its fantastic offer during Gitex for all its credit and debit card members.

NCB Capital
07:05 GMT
(press release)

NCB Capital, the GCC’s leading wealth manager and the Kingdom’s largest asset manager, believes that the strong macroeconomic drivers of Saudi Arabia keep the long-term outlook of the sector positive.

October 2, 2013

During the signing ceremony
12:18 GMT
(press release)

Mashreq and UNB have announced the successful signing of AED 392 million syndicated contracting facility for financing the bonding and working capital requirements to carry out the Electrical Works being undertaken for the expansion of MTC.

Abu Dhabi Commercial Bank
10:07 GMT

Abu Dhabi Commercial Bank released its 2012 Sustainability Report, demonstrating the Bank’s ongoing commitment to transparent disclosure and its genuine concern for social and environmental issues.

October 1, 2013

Yasser Geissah, the Head of Equity Capital Markets at NBAD
13:13 GMT

The National Bank of Abu Dhabi has appointed Yasser Geissah to the newly created position of Head of Equity Capital Markets to oversee the Bank’s operations in execution of initial public offerings.

Emirates Islamic Bank
12:14 GMT
(press release)

Emirates Islamic Bank set up a kiosk at Dubai Ice Rink.

Emirates NBD
11:58 GMT
(press release)

Emirates NBD offered customers and fans the chance to meet footballing legend and ex-Manchester United star Andrew Cole at the Dubai Ice Rink, The Dubai Mall.