Saudi public banks report 10% drop in H1 profits
Ten of the 11 publicly traded Saudi Arabian banks reported first-half aggregate profits of SR19.1 billion ($5 billion), down 10%…
Regulation, Risk & Compliance
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Union Properties in talks with other banks for debt reschedule
Union Properties confirmed that talks are on with multiple banks to set up new debt repayment terms like the Dh946…
PwC's partnership with Tanium lands in the Middle East
PwC has extended its international alliance with cybersecurity firm Tanium into the Middle East market. Internationally, the Big Four…
Israeli investor glee met with Emirati caution after deal on ties
From a proposed rail link to the Gulf from the Israeli port of Haifa, to quick-hop direct flights from Tel…
UAE's first ETF tracking Sharia-compliant index lists on UAE markets
The UAE's first exchange traded fund tracking a Sharia-compliant index began trading on the Abu Dhabi Securities Exchange (ADX) and…
UAE Fintech NymCard Granted In-Principle Approval to Hold, Transfer Customer Funds, while Issuing Payment Cards
Abu Dhabi based NymCard, a card issuing and processing platform, has reportedly been granted “in-principle” approval from the Financial Services…
Salama announces AED11.5 million surplus distribution to Takaful policyholders for 2019
Islamic Arab Insurance Company has announced a payment of surplus (cash returns) of AED11.5 million to eligible group credit life…
Fintech industry is growing in Saudi Arabia, says report
Fintech Saudi has said it is seeing the emergence of a growing industry in the Kingdom, as the sector continues…
Saudi Arabia Launches a New Event Focused on Tech
The Kingdom of Saudi Arabia, or commonly in the Gulf Cooperation Council (GCC) region also known as ‘KSA,’ is putting…
How the world reacted to UAE, Israel normalising diplomatic ties
The United Arab Emirates has become the first Gulf Arab country to reach a deal on normalising relations with Israel,…
Algeria turns to Islamic finance to prop up economy
Algeria has launched Islamic finance products in a bid to attract money from the informal market, but bankers warn it…
Bahrain Seen Needing More Gulf Aid as It’s Downgraded by Fitch
Bahrain received its first downgrade in over two years from Fitch Ratings, which said it will likely “require further Gulf…