08/06/2019
UAE billionaire warns of capital flight
Last week, the US global hotel data provider, STR, said that Dubai’s hotels’ occupancy had reached its lowest since 2009 during the second quarter of 2019.
Legal, Tax, Regulation & Compliance
08/05/2019
RAKBANK partners with City Properties Real Estate to offer property management and monitoring services to business banking customers
The MOU will offer RAKBANK Business Banking customers property management and portal services on preferential terms
08/05/2019
Ajman University, Noor Bank launch Noor Fund to promote Islamic banking, finance
Noor Fund for Educational Solidarity (Noor Fund) that provides, in perpetuity, an endowed professorship and four scholarships in Islamic Banking and Finance at the College of Business Administration of AU
08/05/2019
Global sukuk issuances up 5.5% in 2018
The steady issuance volume is due to sovereign sukuk issuances from Asia, GCC countries and Africa
08/05/2019
Rate cut to support credit growth across GCC
Lower interest rates and softer dollar to attract fund flows into the region
08/02/2019
Loans get cheaper in UAE
The central banks in Saudi and Bahrain also followed Fed's decision, cutting their rates by the same margin.
08/02/2019
UAE bourses join global sell-off as Fed turns a hawk
The US Fed cut its Fed fund rates by 25 basis points, calling it a mid-cycle adjustment
08/02/2019
Kushner Promotes Peace Plan During Middle East Trip
Trump administration officials have suggested the still-secret proposal won’t guarantee full statehood for Palestinians
08/01/2019
UAE, Saudi, Bahrain cut rates after Fed's signal
Kuwaiti central bank kept its key policy rate unchanged
08/01/2019
Statement from Central Bank of the UAE
The Repo Rate applicable to borrowing short-term liquidity from CBUAE against Certificates of Deposits has also been decreased by 25 basis points
08/01/2019
Financial package agreed for largest wind farm in Middle East
The $500m wind farm will have an installed capacity of 400MW, enough to power 70,000 homes.
08/01/2019
As Fed cuts interest rates UAE and other GCC central banks follow suit
The banking regulators in Saudi Arabia and Bahrain also reduce benchmark interest rates
07/31/2019
DIFC, Mashreq Bank and norbloc to launch the region's first production blockchain
This market-leading initiative will facilitate faster, more secure onboarding and exchange of supporting documentation via advanced distributed technologies, including blockchain.
07/31/2019
Bahrain’s money supply increased by 9.2%
The regulator’s monthly statistical bulletin for last month indicates an overall improvement in monetary and banking indicators
07/30/2019
Collapsed Buyout Firm Abraaj Fined Record $315 Million by Dubai
At the time AIML entered into provisional liquidation, because of the activities referred to above, two funds managed by AIML had a combined shortfall of at least USD 180 million.
07/30/2019
Dubai Financial Services Authority fines two Abraaj companies Dh1.15 billion
The DFSA started an investigation in January 2018, which was across multiple jurisdictions
07/30/2019
Dubai DIFC partners with Indian state of Maharashtra
The parties agreed to mutually support fintech start-ups based in their respective markets
07/30/2019
Burj Kadi secures funding from AIB-Bahrain
As per the agreement, the bank will provide financing facilities to prospective customers who plan to purchase properties in Burj Kadi, by providing them with property financing at competitive rates.
07/30/2019
New partnership emerges between two major banks in Middle East
Doha Bank, which is based in the United Arab Emirates, has announced it will work alongside Habib Bank, which is based in Pakistan.
07/30/2019
Noor Bank, National Bonds partner to bring customers value-added benefits
Customers can buy saving certificates with credit cards at no extra charge