Saudi Arabia names Mohammed al-Jadaan as minister of finance
Saudi Arabia appointed market regulator Mohammed al-Jadaan as its new finance minister by royal decree, replacing Ibrahim Alassaf, who had…
Regulation, Risk & Compliance
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Measures to Adopt Common GCC Currency Seriously Considered, Omani Central Bank Director
Director of the Central Bank of Oman Hamood bin Sangour Al-Zadjali said the establishment of a common currency between the…
Kingdom enjoys better fiscal space: Cabinet
The Council of Ministers on Monday emphasized that the Kingdom’s economic position is strong enough to offset the current economic…
UAE banking sector profits expected to decline 10 to 20 per cent in 2016
The UAE’s banking sector is expected to face 10 to 20 per cent contraction in profits this year due to…
Saudi central bank foreign assets shrink $7.4 bln in September
Net foreign assets at Saudi Arabia’s central bank fell by $7.4 billion (Dh27.1 billion) to $546.7 billion in September from…
Redefinition of Movable Pledge Seeks to Boost Collateralization for Commodity Financing
Recent Development Pledge over movable assets (menkul rehni) has long been perceived as an impractical method for collateralization as…
Islamic Development Bank appoints nine banks for five-year sukuk -bankers
The Islamic Development Bank has appointed nine banks to arrange a new Islamic bond issue likely to be in excess…
Egyptian developer Palm Hills expects deal on mega-project by year-end
Egyptian property company Palm Hills expects to sign a revenue-sharing deal with the government this year to develop what would…
IMF's Lagarde tells GCC to keep up fiscal reform
Fiscal reforms that the GCC has been implementing are “impressive” but further adjustments are needed, Christine Lagarde said during a…
UAE bank deposits up by Dh30b
Total bank deposits in the UAE increased by Dh30.2 billion in September 2016 due to an Dh11.4 billion increase in…
Saudi Arabia’s future borrowing will include Islamic bonds, says minister
Saudi Arabia may follow its first international debt issuance with an Islamic bond sale, Finance Minister Ibrahim Al Assaf said,…
UAE Central Bank announces M2 increases to $327 billion in Sept
The UAE Central Bank has announced that the Money Supply aggregate M2 increased by 1.4%, from AED1183.9 billion at the…