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The International Banker 2024 Middle East & Africa Awards Winners

South Africa employs an inflation target band of 3–6 percent for the headline Consumer Price Index (CPI), as calculated by Statistics South Africa (Stats SA).

CBUAE, IMF discuss UAE financial, banking sector developments

The meeting encompassed a review of the UAE’s financial and banking conditions

Edaa implements securities increase on ANB

ANB shareholders approved the board's recommendation on raising capital by 33.33%, during the extraordinary general meeting (EGM) held on May 20.

Why did Abu Dhabi Global Market regulator impose a $122,500 fine on Sarwa?

The regulator said the probe was closely coordinated between the FSRA and the Dubai Financial Services Authority

ADGM's financial regulator fines Sarwa Digital Wealth (Capital) Limited $122,500

For making an Offer of Securities in ADGM without Approved Prospectus

IMF says UAE overall real GDP projected to grow 4% in 2024

The IMF had projected GDP growth for the Gulf oil exporter at 3.5% in 2024 in its most recent Regional Economic Outlook report, published in April.

IMF expects UAE economy to grow by 4% in 2024

Economic growth driven by tourism, construction, manufacturing, financial services

Fintech firm Hala gets SAMA approval to offer debt-based crowdfunding solutions

Essentially, it serves as a dual opportunity: borrowers receive the necessary funding, while investors earn returns by directly lending money.

Qatar to sign more long-term LNG contracts this year: Qatar Energy CEO

Qatar, one of the world’s largest LNG exporters, announced an additional expansion of its LNG production in February

GCC bank’s profitability to remain strong in 2024 due to delay in US Fed’s rate cut

A delay in interest rate cuts by the US Federal Reserve will see Gulf Cooperation Council banks’ profitability remain strong in 2024, according to S&P Global Ratings. This comes as most GCC central banks typically mirror Washington’s rate

Dentons advises Kuwait International Bank on its US$300 million Tier 1 capital sukuk issuance

The Tier 1 capital sukuk was issued by KIB Tier 1 Sukuk 2 Ltd, a special purpose vehicle (SPV) issuer incorporated in the Cayman Islands.

Oman’s public debt slightly declines to $39bn

This is thanks to continued government measures aimed at rationalizing spending, diversifying revenue sources, and directing additional revenues toward debt repayment.

Fake messages could run your bank accounts ‘dry’

The source warned that unscrupulous individuals are into these fraudulent operations to steal from people; indicating they illegally obtain vital information like the bank account number, password and name of the account holder.

UAE corporate tax: Deadline alert

New corporate tax deadlines for businesses to start in May. Here’s what you need to know

Saudi government assets to remain strong through 2030: S&P Global

S&P Global Ratings expects that growing debt issuance to finance Vision 2030 projects could pressure the sovereign’s fiscal metrics.

DIFC announces consultation for amendments to DIFC law on application of civil and commercial laws

The amendments seek to provide statutory certainty to the source of DIFC Law and how it may be interpreted.

CBUAE maintains the base rate at 5.40%

This decision was taken following the US Federal Reserve’s announcement today to keep the Interest Rate on Reserve Balances (IORB) unchanged

Saudi Central Bank and BIS co-host meeting on reserve management in Riyadh

The event served as a platform for participants to exchange insights

BlackRock signs agreement with Saudi wealth fund to anchor new Riyadh investment platform

The investment team will be a combination of existing BlackRock personnel and new, on-the-ground staff.

Two jailed for laundering cash in suitcases from UK to Dubai

The total amount of criminally acquired cash flown out of London to Dubai was around £104m

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