Ajman Bank, one of the smaller lenders in UAE, announced it had hired Mohammed Zaqout as chief executive on April 8.
Most of Saudi central bank’s net foreign assets are believed to be denominated in U.S. dollars, and much of that amount is in the form of U.S. Treasury bonds.
Dubai wants to become a top centre for the issuance and trading of Islamic bonds, aiming to rival the main hubs of Kuala Lumpur and London.
The region’s private wealth industry is enjoying accelerated growth, as nationals bring their cash home to roost and domestic riches grow.
The most recent listing on either of Dubai’s two stock markets occurred in early 2009, when construction firm Drake & Scull listed.
Emirates NBD has lowered its bad debts forecasts and paid back Dhs7.8 billion of crisis-era funding to the Ministry of Finance.
Lombard Odier plans to increase its assets in the Middle East to 20 per cent of its global business by the end of 2017.
Deal value in the third quarter touched $19.1billion, up 99 per cent compared to the same period last year.
Having roughly $54 billion assets under management, private banking contributes to around 70 per cent of the total group’s revenues.
Annual growth in bank lending in Oman accelerated to a four-month high of 8.1 per cent in July.
Retail traders dumped some of their recent favourite shares in order to shift to DFM.
Gross domestic product had expanded 2.5 per cent quarter-on-quarter in the first three months of 2013.
Investors have become less bullish on Dubai’s markets as they believe most of the stocks are now fully valued.
Talks on a tie-up between the Dubai Financial Market and the Abu Dhabi Securities Exchange have occurred on and off since 2010.
Julius Baer’s total client assets amounted to CHF 304 billion ($321 billion) at the end of June 2012, with assets under management accounting CHF 218 billion for ($230 billion).
Banking assets in the GCC now account for around or slightly above a quarter of all banking assets in the region.
The implementation of the country’s first direct debit system will see a reduction in the use of post-dated cheques to secure finances.
According to Robert Walkers, 96 per cent of the employees consider benefits a critical factor when accepting an offer in the Middle East.
Currently even small percentage movements in ownership have to be reported to the authority.
The deal, for which a price was not revealed, makes Qatar Holding the sole owner of Qatar Exchange
Orders from investors reportedly reached $2.75 billion.
Shares in Dubai were boosted during the quarter after index compiler MSCI upgraded the United Arab Emirates to emerging market status.
Tareck Fouad Farah was found guilty of issuing a letter containing false information.
Around 69 per cent of sovereign funds in the Middle East cited an increase in allocation of their investments to alternative options.
BNP Paribas, HSBC, Saudi Fransi (Credit Agricole) and Standard Chartered were the leads.
Saudi firm SAS has acquired a 51 per cent stake in Glowork, a platform that helps women in the Middle East find employment opportunities.
Founded in 1976, EIB changed its strategy away from pure asset management to a wealth management platform offering private and investment banking services to a broader client base.
Co-branded card is designed to reward and enhance loyalty among frequent flyers
Dubai’s benchmark advanced 1.2 per cent to 2,771 points, its highest finish since November 2008
GDP rose 0.6 per cent from the first quarter, according to the Ministry of Planning and Statistics.