CBD net profits rise 16% to hit Dh1.16b in 2018
Commercial Bank of Dubai on Wednesday reported net profit of Dh1.16 billion for 2018, up 16 per cent year on…
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Mashreq Bank continues to take the digital lead in the Gulf
Spearheaded by the UAE, the Gulf region is gradually transitioning into a cashless society. In line with this shift,…
Saudi banks, Dubai shares give Gulf markets a timely boost
The Dubai stock market snapped a three-day losing streak on Wednesday, boosted by its financial and property shares, while Saudi…
Dubai Investments Park plans investor talks ahead of sukuk
Dubai Investments Park has mandated five joint lead managers and bookrunners to arrange a series of fixed income investor meetings…
World Bank affirms confidence in ‘Egypt’s economic reform measures’
The World Bank is “confident” in Egypt’s economic reform measures, the bank’s CEO Kristalina Georgieva, announced yesterday, Reuters reports. …
Russia Flexes Its Muscle in the Middle East
Russia is strengthening ties with the U.S.’s traditional Arab allies, scrambling the Middle East’s political landscape and demonstrating how Moscow…
IIFM and BAFT Publish Shari’ah-Compliant MPA’s for Islamic Trade Finance Business
IIFM and BAFT have announced the release of their joint initiative of creating global master participation agreements to support the…
New Iraqi bank Al Mustashar goes live with ICSFS core system
ICS Financial Systems has announced that Al Mustashar Islamic Bank, a recently established bank in Iraq, is now operating on…
The region's prospects for economic growth will be dampened, notably by Turkey's expected contraction
After a difficult 2018, banks in the Middle East, North Africa, and Turkey are likely to face more of the…
Qatar banks' non-resident deposits jump 21.75%
Non-resident deposits within Qatar’s banking system witnessed a robust 21.75% year-on-year expansion to QR164.26bn in November 2018, indicating the strong…
Saudi’s largest lender NCB posts 3.5% rise in Q4 profit
Saudi Arabia’s National Commercial Bank (NCB), the country’s largest lender, saw a 3.5 per cent rise in fourth-quarter net profit,…
Kuwait, Bahrain lenders plan talks on $92bn merger
Kuwait Finance House and Bahrain’s Ahli United Bank’s boards will meet this week to consider valuation reports on a potential…