The United Arab Emirates: A Key Piece in the Gobal Money Laundering Puzzle
By the normal standards of the Financial Action Task Force (FATF), a recent report into attempts by the United Arab…
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African banks confident on growth of cashless payments
Six in ten banking executives in Africa and Middle East think cash will dip below 5 per cent of retail…
Bin Aweidha confirms to Banking Day that World Investments plans to go ahead with Xinja funding
A prominent Dubai-based lawyer has a good rule of thumb for gauging the importance of myriad minor royals in the…
DFSA takes regulatory action against two firms and three individuals
Dubai Financial Services Authority, the regulator of Dubai International Financial Centre , is to impose fines on two firms and…
IMF approves $2.77 bn in emergency pandemic aid for Egypt
The International Monetary Fund on Monday said its executive board approved $2.77 billion in emergency financing to help Egypt grapple…
Saudi move could be followed by more tax hikes across Arab world
More Arab economies may need to follow Saudi Arabia in hiking taxes to replenish reserves that have been savaged by…
Pandemic shock leads to ‘overhaul’ of Saudi finances
The full scale of the economic shock from the coronavirus pandemic has been revealed in radical measures taken by Saudi…
FAB Switzerland renews its long-term contract with Avaloq
The Swiss subsidiary of First Abu Dhabi Bank (FAB) has selected Avaloq’s business process as a service (BPaaS) solution for…
UAE criticised for ‘ineffective’ sanctions and money laundering efforts
Authorities in the United Arab Emirates are facing criticism for their “minimal” implementation of UN sanctions and lacklustre efforts to…
Gulf banks can absorb up to $36B shock
Despite facing deterioration in profitability in 2020 because of the dual shock of Covid-19 and the decline in oil prices,…
UAE’s ADCB posts 82% drop in Q1 net profit
Abu Dhabi Commercial Bank reported a Q1 net profit of Dhs209m, down nearly 82 per cent from Dhs1.152bn in the…
Qatar Central Bank Is “Actively Working” on Fintech Initiatives, and Exploring Blockchain Use Cases
Qatar’s central bank has proposed a second strategic plan which involves establishing clear policies that aim to support venture capital…