08/07/2019
Zurich and Equiom to run DIFC savings scheme
Defined contribution plan is set to launch from January 2020
Legal, Tax, Regulation & Compliance
08/07/2019
Fraudsters target UAE jobseekers with fake migration offers
Malhotra claimed that they have found patterns through most complaints.
08/07/2019
Dubai Financial Services Authority Signs MOU with the Central Bank of Egypt
The MoU was signed by Mr Bryan Stirewalt, Chief Executive of the DFSA, in Dubai on 28 July 2019 and by HE Tarek Amer, Governor of the CBE, in Egypt.
08/06/2019
Domestic banks’ cross-border assets concentrate in Europe
The rebound in non-resident deposits provided the growth momentum while placements and borrowings from the foreign financial institutions also improved quiet substantially.
08/06/2019
The Middle East Might be Changing; or are We?
Many were surprised when the Trump Mideast Peace team announced its so-called economic workshop would be held in Bahrain.
08/06/2019
Bond yields soften on account of global trade tensions amid Fed rate cuts
Policymakers in their statement said they would "continue to monitor" incoming data and would act as needed to support the economy.
08/06/2019
Banks to close Saturday marking Arafat day
Separately, the Central Bank of Kuwait announced yesterday the issuance of a total of KD 240 million ($792 million).
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.
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.