#central bank

Central Bank of the UAE

UAE banks return Dhs14.47bn received from Central Bank’s TESS initiative

A Dhs100bn Targeted Economic Support Scheme initiative was launched by the CBUAE in March 2020

Saudi Arabia replaces central bank governor

Ahmed Alkholifey is being replaced by Fahad Al-Mubarak, who was central bank governor from 2011 to 2016

Kuwait Central Bank allows lenders to distribute 2020 dividends

The Kuwait Banking Association said in June that there would be no distribution of dividends to shareholders for 2020

Oman banks get more flexibility in financing stock investments

Oman’s central bank also said banking sector in the sultanate was “comfortably placed”

UAE’s non-oil GDP to grow 3.6% by end 2021

The UAE has rolled out economic support packages worth more than Dh388bn to mitigate the impact of the pandemic

Egypt’s biggest listed bank slumps after chairman steps down

The stock fell as much as 10 per cent to trade at EGP60.10 pounds before paring the decline to 7.2 per cent at close

Gold barrels past $2,000 with stage set for prices to rally more

Bullion is up more than 30 per cent this year, and could extend gains as governments and central banks respond to slowing growth with vast amounts of stimulus

Abu dhabi uae capital flag

UAE Central Bank projects economic recovery in second half of 2020

Non-oil growth is projected to contract by 4.1 per cent in 2020 due to the adverse implications of Covid-19

Saudi moved $40bn in reserves to sovereign wealth fund PIF

The sovereign fund has spent billions of dollars this year buying equities, including stakes in BP, Boeing, Citigroup and Facebook