A centralised approach to supervising Islamic finance is increasingly being adopted around the globe.
Luxury hotel chain has said the loan will help fuel further local and international expansion.
Dubai Holding was hit hard by Dubai’s property market crash and corporate debt troubles of 2008-2010.
The limits on foreign ownership of individual stocks have become obstacles to growth as the Gulf’s capital markets gradually become more international.
The new proposal is less than a fifth of the size of the original and is designed to boost London’s status rather than to diversify Britain’s investor base.
Third-quarter net profit at the lender fell eight per cent to Dhs1.04 billion from Dhs1.12 billion in the year-ago period.
The international body cautioned the UAE to be proactive in framing policies that would insulate the economy from major problems.
The firm, owned by billionaire Prince Alwaleed bin Talal, attributed the profit gain to an increase in gains on investments
The lender aims for 20 per cent of its revenues to come from overseas markets in five years
The lender, majority-owned by Abu Dhabi’s ruling family, made a net profit of Dhs1.19 billion for the three months ended Sept. 30
Merkel was the only European politician to remain steadfast and outperform the global crisis, says Joe Hawa, chief market analyst, Alpari ME.
The International Monetary Fund has repeatedly warned against rising government spending in OPEC member Kuwait.
A Kuwaiti investment firm has already expressed interest in trading options.
The Middle East Banking Forum will be held on 26 November, and attract top tier representatives from regional and international lenders.
Khaled Kawan replaces Hassan Ali Juma, who retired from the bank in July
UAE Prime Minister Sheikh Mohammed said that half of the federal budget of Dhs46 billion will go for development and social benefits
Nearly three out of four UAE financial advisers are in a growth phase, a study found.
The tiny kingdom’s banking industry was hit hard by the global financial crisis and, since 2011, by political unrest.
Despite high levels of expenditure on luxury, UAE-based western expats were also found to be spending on investments.
The five-year offering carried a coupon of 8.625 per cent
Dubai-based Mashreq alleged ING Groep NV lost over $40 million of its money by investing it in “toxic” securities.
FGB raised its ownership from 40 per cent to 100 per cent in Aseel Islamic Finance
Over $1 billion of the money pledged will go to supply Egypt with fuel
Local banks have been quick to lend more and offer more sophisticated services as international banks nurse lingering wounds.
Dubai’s business confidence is at a record high as the announcement of the Expo 2020 host city nears.
The lender made a net profit of Dhs775 million in the three months to September, up 21 per cent from Q3 2012.
Despite signs of economic improvement, banks are still dealing with asset quality problems from the 2008 crisis, says Fitch
The Dubai-based property developer said that facilitating mortgages for non-residents would help drive real estate investments.
According to a Mercer survey, the UAE’s above global average pay rise is a long running trend in the region.
QNB will issue three-year floating rate notes