Tuesday , 24 April 2018
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Financial Services

Al Habtoor founder open to IPO after 2020

The Group is the powerhouse behind real estate mega project, Al Habtoor City By Staff Writer, CPI Financial Khalaf Ahmad Al Habtoor, founder of the Al Habtoor Group (The Group), believes 2018 will be a much better year for businesses in the UAE after a tough year in the previous 12 months. The Chairman conceded 2017 had been a challenging …

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Bahrain is about to collaborate with a country to support the FinTech sector, find out who it is

According to the Bahrain Economic Development Board (EDB) Financial Services Executive Director, David Parker, Bahrain is planning on collaborating with Malaysia’s financial sector since both markets are in similar development phases when it comes to the FinTech sector. “We can work on our strengths because Malaysia and Bahrain both have relatively newly implemented policies when it comes to fintech. I …

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Islamic Corporation for the Development of the Private Sector (ICD) highlighted the role of small-and-medium-sized enterprises

Islamic Corporation for the Development of the Private Sector (ICD) highlighted the role of small-and-medium-sized enterprises (SMEs) as engine of growth and sustainable development during the 43rd Annual Meeting of Islamic Development Bank Group. ICD also informed developmental partners on practices and tools to be used for designing SME resilience support programs The Islamic Corporation for the Development of the …

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World Finance Magazine awards Temenos “Best Islamic Banking & Finance Software Solution” at their 2018 Islamic Finance Awards

IslamicSuite, Temenos’ scalable innovative technology, scores highly in both reader votes and judges panel to come out on top at this year’s Islamic Finance Awards The banking software company, today announced that it has won “Best Islamic Banking & Finance Software Solution” in World Finance magazine’s annual Islamic Finance Awards (goo.gl/zPXo9E). Temenos’ IslamicSuite (goo.gl/TuLPJe) was first nominated by World Finance …

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Newly empowered Saudi women to help drive growth at Al Rajhi Bank

Female demand for cars to lift loan opportunities, says CEO Saudi women get the right to drive and have more chances to work, increased economic activity among an entire half of the population is an opportunity for banks, the head of one of them said. Al Rajhi Bank, Saudi Arabia’s second largest by assets, has opened 133 female-only branches and …

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Investment outlook: Gulf’s fixed income market likely to match last year’s highs

Despite higher oil prices, benign funding environment means strong levels of bond issuance are likely to continue. Gulf sukuk and bond issuance could set another annual record this year as government institutions again turn to debt to help meet budget shortfalls, although elevated geopolitical risk and imminent interest rate rises will make borrowing more expensive. Emirates NBD, Dubai’s largest bank, …

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UAE central bank chief: fintech very beneficial to banking sector

Technology underlying crypto-currencies, financial technologies are beneficial to banking sector, UAE central bank governor said. ABU DHABI The technology underlying crypto-currencies and other new financial technologies are really beneficial to the banking sector, United Arab Emirates central bank governor Mubarak Rashid al-Mansouri said on Tuesday. Asked at a financial industry conference whether U.S. interest rate rises this year might pressure …

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Ripple effect: Saudi’s crypto experiment can save hundreds of millions, says Moody’s

By: Staff Writer, ZAWYA Saudi Arabia could save itself hundreds of millions of dollars in foreign currency exchange fees if its pilot programme to use blockchain for cross-border payments is rolled out, according to credit ratings agency Moody’s. In a note published on Monday evening, Moody’s said that an agreement last Wednesday between United States-based financial technology (fintech) company Ripple …

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First Abu Dhabi Bank launches ‘payit’, UAE’s first fully-featured digital wallet

Staff Writer, WAM (Emirates News Agency) ABU DHABI- First Abu Dhabi Bank, FAB, has launched ‘payit’, the country’s first fully-featured digital wallet, in support of the UAE’s goal to become a cashless economy. The safe and secure service is available to anyone with a valid Emirates ID. Using ‘payit’, Emiratis and residents can send and receive money instantly 24/7, make …

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Nasdaq Dubai launches Abu Dhabi, Dubai equity index futures

Nasdaq Dubai’s website showed Dubai index futures, due to expire on June 21, trading at 3,328 on Sunday while the underlying index was down 0.6 percent at 3,310 points. Abu Dhabi index futures were at 4,560 while the index was up 0.2 percent at 4,586 points. Nasdaq Dubai said it was in talks with regional and international financial institutions that …

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