UAE banks to defer personal, car loan instalments for 6 months

UAE floods: Banks to defer personal, car loan installments for 6 months

The central bank said banks will not impose additional fees, interest or profits for loan repayment deferrals

Bahrain Steel company to receive Dhs450m SLL Image Getty images

Bahrain Steel to receive $450m sustainability-linked loan from bank consortium

The SLL’s framework incentivises Bahrain Steel to exceed mandatory greenhouse gas emissions reductions, facilitating the company’s transition toward lower carbon operations

Remittances rise by 5%, reveals world bank report

Bucking the trend: 2024 GCC banking outlook

GCC banks’ financial performance remains resilient while they capture and benefit from the growth opportunities arising on the back of the long-term National Vision

Türkiye may exclude banks from inflation-adjusted accounting

Türkiye may exclude banks from inflation-adjusted accounting, says minister

Türkish companies’ end-2023 balance sheets will be inflation-adjusted, with the practice expected to continue until 2026

RTA picks banks for taxi and parking IPOs-image-RTA-twitter

Dubai’s RTA selects banks for taxi and parking IPOs

The government reportedly plans to sell shares in the taxi business as soon as this year, while the parking unit’s listing is slated to follow next year

Central bank on gross bank assets

CBUAE says gross banks’ assets reached Dhs3.74tn in February

Latest data from the central bank shows that gross credit surged by 1.2 per cent to Dhs1.89tn in February from 1.87tn a month earlier, driven by a 1.6 per cent increase in domestic credit

UAE central bank

UAE banks record Dhs245.5bn in saving deposits by January-end

The central bank said saving deposits in the banking system have increased in recent years, from Dhs152bn in 2018 to Dhs241.8bn in 2021


Oil steadies after three-day drop as demand concerns multiply

West Texas Intermediate held above $74 a barrel after futures sank almost 9 per cent in the prior three sessions to erase the year’s gains

UAE President wipes out over Dhs536.2m debt for Emiratis

The non-performing debt relief fund has announced that 17 banks and financial institutions have waived the obligations

Dubai’s DIFC records 11% increase in new company registrations in H1 2022

A total of 537 new companies joined the centre in the first half of the year


ADCB joins ‘Buna’ system to enhance regional cross-border payments

The Buna platform offers stringent levels of governance and transparency through increased oversight from central banks as well as effective reporting and compliance mechanisms


UAE’s Utico hires banks to advise on potential IPO

Utico is the largest private utility provider in UAE and is one of the 27 companies forming part of the RMB Group

KFC Operator

Middle East KFC operator picks banks for dual listing

Americana operates restaurants for brands including Baskin Robbins, Costa Coffee and TGI Fridays as well as KFC and Pizza Hut, according to its website

ADNOC, Borealis hiring banks for IPO of plastics joint venture

Borouge manufactures plastics used in everything from automobiles and food packaging to medicine vials and piping systems

Qatar considers refinancing $10bn debt due next year

No final decision has been made

Banking across the GCC: Carving out a new future

Growing customer awareness and the recent global health crisis have encouraged regional banks to ramp up their offerings 


UAE Central Bank extends economic support measures until June 30

Prudential relief measures regarding banks’ capital buffers and liquidity and stable funding requirements will be extended by six months

Dubai reports 68% y-on-y increase in mortgage transactions for Q1-Q3 2021

Villas proved more popular than apartments for mortgage purchases


New Dhs5bn Abu Dhabi IPO fund launched to support SMEs

The fund will invest in five to 10 private companies per year

UAE says it is winding down pandemic stimulus as economy recovers

The loan deferral component of the Targeted Economic Support Scheme will expire by the end of 2021

Standard Chartered opens first branch in Saudi Arabia

The move widens the services Standard Chartered can offer in the country

Why now is the time for banks to strategically review their IT spend

To deliver the future of banking, managing IT spend needs a new approach

Liquid assets in UAE banks increase to Dhs486.58bn in Q1 2021

Liquid assets accounted for 15.9 per cent of the total assets by the end of the reference quarter

Can GCC banks withstand further shocks due to the pandemic?

GDP growth in the GCC countries will slowly recover from last year’s sharp recession

Why regional banks must digitise their trade finance platforms right now

Automating the trade financing platform will enable banks to benefit in numerous ways, according to global IT firm Comarch

How banks can leverage technology to explore the digital economy

JMR Infotech’s innovation adds value to the digital transformation journey of banks and financial institutions in the Middle East and Africa region

Emirates NBD

Dubai’s top bank is said to raise Gulf’s first sustainable loan

Emirates NBD has about $5.7bn of debt maturing this year, according to data compiled by Bloomberg

Saudi wealth fund raises year’s third-biggest loan for new deals

The $400bn sovereign investor is key to the kingdom’s efforts to revive economic growth

Cash dividends worth Dhs29bn proposed by 38 UAE listed companies for 2020

Banks are the largest distributors of profits