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Tag Archives: Finance

Bahrain Fintech Bay: RegFact conference hailed a success

The event brought together local and global regulators, policy makers and policy advocates RegFact 2019 was held yesterday at the Diplomat Radisson Blu under the patronage of the Central Bank of Bahrain. The event brought together local and global regulators, policy makers and policy advocates in the regulatory technology industry, and 250 delegates from various financial and governmental sectors in …

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Release of the IMF Departmental Paper on Scaling up Access to Finance for Small and Medium Enterprise in the Middle East and North Africa

Discussions will focus on how small and medium-sized enterprise financial inclusion is at the core of the economic diversification, growth, and job creation challenges many countries are facing The International Monetary Fund (IMF) will launch its departmental paper entitled Scaling up Access to Finance for SMEs in MENA in a seminar which will take placeat the American University in Cairo, …

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INTERVIEW: RAKBANK CEO still sees value in serving SMEs

Peter England says bank now works more closely with small and medium-sized firms, rather than “just throwing money at them” When RAKBANK published its preliminary financial results last week, its 13 percent increase in annual profit was attributed to the lender trimming provisions for loan impairments. That reduction – of 131.8 million United Arab Emirates dirhams ($35.9 million) – helped …

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Statement by International Monetary Fund (IMF) Managing Director Christine Lagarde on Egypt

The Egyptian authorities embarked on an ambitious economic reform program in 2016 that is being supported by an International Monetary Fund (IMF) financial arrangement Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued the following statement today: I would like to take this opportunity to commend the patience and commitment of the Egyptian people to the reform …

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Ghalya AlAli wins 2019 EY UAE corporate finance Woman of the Year Award

The EY initiative encourages female Emirati business students to consider careers in transaction advisory services (TAS) and corporate finance Ghalya AlAli, an Emirati female student from Zayed University, was announced as the EY UAE Corporate Finance Woman of the Year (CFWY) at an award ceremony held at the Youth Hub in Emirates Towers. Ghalya won from among a group of …

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Bahrain’s Investcorp, Coller form $1bln European private equity fund

The deal also includes fresh capital for any follow-on investments and future investments Bahrain-based alternative investment manager Investcorp said on Monday it was forming a $1 billion European private equity portfolio with Coller Capital. Investcorp, founded in 1982, is one of the oldest Middle Eastern private equity houses and is targeting $50 billion of assets under management over the medium …

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New 100% investment law redefines UAE’s business landscape

Among a spate of path-breaking reforms aimed at fuelling economic growth. The new UAE investment law, which allows up to 100 per cent ownership to foreign investors in some specific onshore business sectors, is expected to give a major fillip to private and foreign direct investments (FDIs). In the first quarter of 2019, the government is expected to announce a …

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Market Soundbites: What is the global outlook for 2019?

ZAWYA’s editor Michael Fahy sat down with Jean-Paul Pigat, head of research at Dubai-based Lighthouse Research, to discuss the big issues impacting global capital markets and the outlook for the year ahead. “When I look at 2019, for the short-term outlook, there are two main economies I am concerned about the first is the United States and the other one …

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Kuwait’s central bank sets up test ground for fintech

Bahrain has created a fintech regulatory unit and Abu Dhabi and Dubai is cultivating a financial startup scene. Kuwait’s central bank has issued regulatory guidelines for companies wishing to experiment with new financial technology products and services, it said on Monday. Kuwait’s regulatory testing framework, known as a ‘sandbox’, will include four phases, with representatives from local banks joining a …

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Google Pay launched in the UAE

Google Pay will allow users to make purchases using Android devices at stores Internet giant Google announced the launch of its contactless payment service in the UAE, furhter ramping up the competition sector that is gaining wider acceptance. Google Pay will allow users to make purchases using Android devices at stores that accept contactless payments, as well as across all …

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