Tag Archives: Finance

MENA summit to rewrite the future of HR

The 5th Annual HR Tech MENA Summit returns this year with MetLife, one of the world’s leading financial services companies and a pioneer of innovative employee benefits in the UAE, to discuss latest technology trends, innovations and disruptive ideas that are changing the workplace. With an aim to achieve workplace wellbeing and excellence and pave the journey for digitization and …

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Can banks do more to support SMEs in the UAE?

SMEs are the backbone of the UAE’s economy, accounting for around 94%of businesses in the country Against a backdrop of geopolitical and economic instability, the financial services industry has a crucial role to play in helping SMEs navigate a challenging climate. Beyond simple financing products, banks can support SMEs by providing a broader range of tools to enable them to …

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Third MEA FinTech forum launched

Central Bank of Bahrain Governor Rasheed Al Maraj yesterday called for developing a practical approach to finding the right balance between enabling innovation and protecting the financial system. Speaking during the third Middle East and Africa FinTech Forum, Al Maraj warned: “We cannot sit idle and not provide the leadership and innovative thinking that this industry needs to grow.” He …

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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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