Methaq Takaful declines taking measures to acquire Eshraq Investments
Methaq Takaful Insurance Company reiterated that its board has not issued any approval on the acquisition of Eshraq Investments and…
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UAE and Pakistani finance authorities join hands to combat money laundering
The Financial Intelligence Unit of the UAE has signed an agreement with the Financial Monitoring Unit of Pakistan to combat…
Lebanon starts central bank audit in effort to exit financial crisis
Lebanon has started a forensic audit of the central bank, the Finance Ministry said yesterday, one of the steps donors…
Saudi Arabia squeezes Aramco as low oil prices roil state budget
The world’s biggest oil company is getting squeezed by its main shareholder, the Saudi Arabian government. Even with crude…
The International Islamic Trade Finance Corporation and Mizuho Bank Malaysia Sign US$100 million Trade Financing Deal
The International Islamic Trade Finance Corporation signed a US$100 million Murabaha-structured line of trade finance with Mizuho Bank in Malaysia,…
UAE firms can now obtain bank loans against moveable assets as collateral
Companies in the UAE, especially small and medium businesses, can now secure bank loans by using their moveable properties as…
Bahrain sells $2 billion in sukuk and bonds
Bahrain sold $2 billion in its second bond offering of the year on Wednesday, a dual-tranche issuance comprising seven-year sukuk,…
Saudi finance minister rejects IMF prediction of economic gloom
International Monetary Fund experts are wrong and the Saudi economy will do better this year than the IMF’s pessimistic forecast…
Hapoalim expects UAE bank ties to follow accord
Israel’s largest lender, Bank Hapoalim, expects to start working with banks in the UAE once the two Middle East states…
Fitch Downgrades Arab Banking Corporation to 'BB+'; Outlook Negative
Fitch Ratings has downgraded Arab Banking Corporation B.S.C.'s (ABC) Long-Term Issuer Default Rating (IDR) to 'BB+' from 'BBB-' and its…
5-year renewable visa plan for UAE retirees has property market primed for action
Dubai Tourism and the General Directorate for Residency and Foreigners Affairs announced on September 2nd a 5-year visa for residents…
Dubai International Financial Centre to attract more firms through Expanded Prescribed Company Regime
Dubai International Financial Centre (DIFC) has expanded the applicant criteria for its successful Prescribed Companies regime. The expanded Prescribed…