Qatar raises QR94mn for Lebanon
The ‘Lebanon in Our Hearts’ fundraising campaign raised over QR94mn until late last night as Qatari citizens and organisations continued…
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UAE Central Bank unveils more measures to shore up banks
The Board of the Central Bank of the UAE has decided on additional measures within the Targeted Economic Support Scheme,…
COVID-19 impact: UAE’s credit demand takes a hit in second quarter of 2020
The UAE banks witnessed a decline in credit appetite both for business and personal loans during the second quarter of…
Bahrain’s banks must help finance economic recovery
Banks in Bahrain must play a major role in helping the national economy recover from the global Coronavirus (COVID-19) outbreak…
United Arab Emirates: Economic substance considerations for reporting purposes
The economic substance (ES) regulations in the United Arab Emirates (UAE) require that “licensees” (e.g., resident entities licensed to carry…
Qatar- Commercial Bank wins Banker award for 'Innovation in Digital Banking'
Commercial Bank has been awarded The Banker Award for "Innovation in Digital Banking" in the Middle East 2020 in recognition…
R.J. O'Brien acquires Global Interdealer Broker Lombard Forte Securities
R.J. O'Brien & Associates has announced that its affiliate RJO MENA has just acquired Lombard Forte Securities Limited. Terms of…
Investcorp swings to full-year loss amid pandemic but eyes $50bn in assets
Investcorp, the Bahrain-based alternative investment management firm, swung to a net loss in its 2020 fiscal year as fee income…
CBUAE includes the UAE Dirham as the first settlement currency in "Buna" platform
The Central Bank of the UAE has signed an agreement with the Arab Monetary Fund to include the UAE Dirham…
Kuwait's KFH Q2 net income drops on rise in impairment charges
Kuwait Finance House, the biggest Sharia-compliant lender in the Gulf state, reported a 77.5 per cent decline in its second…
Dubai court tells bank to pay customer Dh4.6 million after his account got hacked
A Dubai commercial court order for a bank to repay a customer Dh4.5 million has been upheld by the Dubai…
‘Saudi Arabia is where the opportunities will happen in future’
A random decision during a night out to move to Dubai in 2013 kickstarted Michael Gilmore’s successful career in executive…