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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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Seed investments: The ideas the UAE is backing to help boost rainfall levels

Zawya speaks to the three scientists whose ideas have received $5 mln via this year’s Rain Enhancement Programme. By Nada Al Rifai, ZAWYA As the United Arab Emirates navigates the path to raise its water security levels, the arid Gulf country is funding a number of new research ideas aimed at boosting rainfall. The UAE’s Rain Enhancement Programme this year …

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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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Travel, tourism to boost UAE’s GDP

Contribution to economy set to hit $29.53bln in 10 years By Issac John, Khaleej Times UAE – The direct contribution of travel and tourism to the UAE economy is forecast to rise by five per cent to Dh72.6 billion in 2018, and will hit Dh108.4 billion in 10 years, reflecting the vibrant growth potential the sector offers, the World Travel …

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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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Trading places: Dubai’s non-oil trade rises, with China, India and the U.S. it’s biggest partners

Dubai’s non-oil foreign trade grew by 2 percent last year, with China, India, the United States and Saudi Arabia topping a list of the emirate’s biggest trading partners, the Dubai government’s media office said in a press release on Monday. The emirate’s non-oil trade grew by 26 billion dirhams ($7.1 billion) to total 1.302 trillion dirhams in 2017, up from …

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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 leads MENA in digitisation: Report

Digitisation continues to take the global economies by storm The UAE is now leading the MENA region with an impressive 16.4 percent in digital penetration, according to a detailed report by Al Masah Capital Limited titled, “Digital Banking – ME Trends”. “Digitisation continues to take the global economies by storm. As a revolution whose uptake in the Middle East and …

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Morocco: BMCE Bank to Launch Latest African Entrepreneurship Award

BMCE Bank of Africa launches the 4th edition of the African Entrepreneurship Award (AEA) on March 12 in Casablanca. Registration remains open until April 30. The AEA initiative supports talented African entrepreneurs who hold promising ideas for to a better world. The past three editions have been dedicated to education and the environment, witnessing the participation of more than 12,000 …

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