Gulf Business talks to Wissam Khoury, head of international at Finastra, on the state of Open Banking in the GCC
Egypt seeks to raise $500m from the offering
The legal guardianship will protect the group from creditors’ actions
With the offering already more than 50 times oversubscribed, the delay is not currently expected to significantly affect the final pricing
DAFZA will provide incentives to Israeli companies wishing to establish their businesses within the emirate
Traditional lenders and fintech players can grow simultaneously, offering customers a myriad of services
Moody’s now ranks Kuwait two steps lower than Fitch Ratings and one below S&P Global Ratings
Saudi Arabia’s economy is expected to contract 4.8 per cent in 2020 before growing by 3.2 per cent next year
A total of Dhs44.38bn has been withdrawn until end June
The privately-held investment firm with assets in health care and food named Bruno Navarro as its chief restructuring officer
The UAE last week signed an agreement to move toward establishing normal ties with Israel
Bank ABC, Citigroup, Dubai Islamic Bank, Emirates NBD Capital, and HSBC, among others acted as joint lead managers and bookrunners for the transaction
Europe’s largest bank has been named as a possible candidate for China’s “unreliable entity list”
The adoption rate for digital wealth management solutions has increased dramatically during the pandemic
Evolution of the regional banking ecosystem has propelled economic growth in recent years, and continues to progress apace
ADIO will subsequently open offices in Europe, North America and Asia
Bank Leumi currently holds approximately 30 per cent market share in the Israeli banking system
Boursa Kuwait joins Dubai Financial Market and Tel Aviv Stock Exchange as publicly traded regional exchanges
The agreement will allow Israeli clients to transact directly in the UAE
The bonds are likely to be offered as soon as this week
Kuwait’s deficit last fiscal year widened to KD5.64bn, up almost 69 per cent from a year earlier
Besides signing a bridge loan for OMR770m and issuing OMR550m in development bonds this year, Oman has also been tapping its reserves and privatising some assets
Bahrain is on course to rack up a deficit that the International Monetary Fund projects will be at 15.7 per cent of gross domestic product
The EMEA region witnessed $4.6bn in fintech investment in the first half of 2020
The federal government’s total revenues were reported at Dhs34.7bn
Rafik Nayed, group CEO, Al Salam Bank Bahrain, discusses the bank’s digital strategy in the Covid era with Gulf Business
The normalisation process announced last month is the first between Israel and a Gulf Arab state
Dubai Islamic Bank, Emirates NBD, First Abu Dhabi Bank, HSBC, and Standard Chartered Bank were mandated to manage the issuance process
The 50-year tranche is the longest term for a bond issued by a GCC sovereign issuer
The decision follows the signing of a memorandum of understanding between the UAE central bank and the Israeli Prime Minister’s Office