As much as $505,000 has been allocated to projects in the UAE, which is expected to reach around 13,720 people
The company has no plans to cut capital expenditure in response to the coronavirus infection
Clients can access the new digital feature from the safety of their homes or offices to submit an export collections request
Emirates Islamic is the first Dubai-based financial institution to contribute to the fund launched by the Islamic Affairs and Charitable Activities Department
The fund last month built an 8.2 per cent stake in cruise operator Carnival Corp. after shares slumped due to the fallout of the coronavirus pandemic
Small and micro businesses make up more than 90 per cent of worldwide businesses, contributing 50 to 60 per cent of global employment
Certain fees have been waived and extensions have been granted for some of the processes
By law, 10 per cent of state revenue is annually transferred into the Future Generations Fund, which invests abroad and has adequate liquidity to meet any requirement
Dubai Islamic Bank is in talks with NMC’s other main creditors and advisers to ascertain the hospital operator’s financial position
Saeed replaces Mubarak Rashed Khamis Al Mansoori who occupied the post since 2014
Placing the company in administration would create “considerable downsides” on the community, country, the company and its creditors, said Belhoul
Banks, having recognised the need for the integration between finance and technology, have had to re-assess their digital strategies and collaboration with third-party service providers to stay relevant
ADCB had total assets of Dhs405bn at the end of last year
The lender, the third largest in the UAE, is also participating in a package of financial incentives
Central banks around the world have unveiled emergency stimulus packages
Kuwait was downgraded one level to AA-, with S&P maintaining a stable outlook
A number of executives have exited Deutsche Bank’s Middle East operations in recent times
The move comes despite the economic impact of the Covid-19 pandemic
Fintech has grown in momentum and usage and unsurprisingly, global trends reflect the same
Banks must also provide disposable latex gloves to its customers using the ATM machines
Individual customers will be able to obtain a three-month deferral on their existing personal and auto loans, mortgages and credit card payments with no penalties
RAKBANK will collaborate with individual customers, SMEs and large corporates on a case-by-case basis to provide flexible solutions
DIFC firms were encouraged to deploy DFSA’s Threat Intelligence Platform to enhance their cybersecurity
The executive was found to have carried out client transactions “without authorisation” and engaged in “misleading and deceptive conduct”
The emirate listed a $1bn sukuk on Nasdaq Dubai in April 2019, and another $750m sukuk in October
Starting April 1, Dubai-based banks will waive loan repayments for three months for individuals forced to take unpaid leave, and for small businesses
Dubai and Abu Dhabi’s main stock indexes are both down 32 per cent this month
Earlier this week, the company said that it was stopping all new transactions
Finablr had a market value of $94m when it was halted from trading this week
The kingdom needs an oil price of $84 to balance this year’s budget