New York’s top bank regulator has threatened to revoke the bank’s state licence over alleged Iran ties.
The Qatari sovereign wealth fund currently owns around 12 per cent of Qatar Insurance.
The Kingdom’s cabinet has given a licence to the Industrial and Commercial Bank of China (ICBC) to open one branch in Saudi.
DIFC may no longer provide a gateway to the UAE financial market.
New York’s top bank regulator has accused the UK-based bank of hiding $250 billion in transactions tied to Iran.
The capital raised will be used to fund credit growth and the lender’s upcoming venture into Islamic finance.
Total bank deposits in the country fell from Dhs1.125 trillion in May to Dhs1.107 trillion at the end of June.
The Gulf state’s surplus for 2011/2012 was boosted by increased oil income and lower spending.
DFM’s net profit fell to Dhs10.2 million during the second quarter of the year, as revenues reduced.
A $3.2 billion loan from the International Monetary Fund will help Egypt handle a balance of payments crisis.
Abu Dhabi Islamic Bank said Eurozone pressures and new regulations in the UAE will hit earnings for the rest of 2012.
Saudi Arabia led the region’s M&A activity in July with two mega deals, followed by Jordan and Oman.
The amount collected by the Dubai government’s online payment services in the first half of 2012 increased 21 per cent year-on-year.
Bahrain-based investment company net income shrinks in face of Euro woes and asset depreciation.
Dubai International Centre will split into DIFCA and DIFC Property arms to boost its development.
The Jordanian bank saw increased profits due to lower provisions and a rise in operational income.
The Egyptian Financial Supervisory Authority had rejected the decision, asking EFG to provide additional information.
The Gulf countries should learn from the Euro experience but create a monetary union soon, a Qatari central bank official has said.
International Bank of Azerbaijan, the country’s largest lender, hopes to start operating in Qatar in the first quarter of 2013.
The Islamic premium no longer exists says one banking professional, stimulating greater issuance and longer tenors.
The Dubai International Financial Centre (DIFC) economy posted a ‘GDP’ of $3.13 billion in 2011, up seven per cent from 2010.
The region’s biggest investment firm leaves as the healthcare provider launches third biggest offering of the year.
The utility company is not planning to issue a bond despite a drop in borrowing costs, its CEO has said.
Three of the country’s largest banks have all posted positive results with First Gulf Bank reporting a 14 per cent profit rise.
Abu Dhabi Commercial Bank posted a net profit of Dhs733 million for the second quarter of the year.
The new office of the global asset management company will be headed by ex-Mumtalakat CEO, Talal Al Zain.
The private equity firm announced that Tom Speechley, senior partner at Abraaj, will take over as the CEO of UK-based Aureos.
NBAD, the largest bank by market value in the UAE, saw second quarter profit grow on higher net interest income.
The UAE-based bank made a net profit of Dhs1.02 billion during the period, beating analysts’ forecasts.
As GCC SWFs begin to invest closer to home, the West may find itself with an increasingly empty begging bowl.