The company achieved a robust revenue increase of 50 per cent versus Q1 2022, reaching Dhs15.7bn during Q1 2023
The T-Sukuk auction will be followed by a listing on Nasdaq Dubai to promote secondary market trading along with primary dealers
Coinbase has been navigating a market downturn and a difficult US regulatory environment
The bureau will enable the DIFC Innovation Hub community to tap into new data sets to boost fintech development in the UAE market
The joint initiative aims to encourage national talent, drive innovation and entrepreneurial growth
The bank’s credit guarantee scheme aims to help SMEs overcome challenges in accessing financing from conventional banks
Saudi banks stand to remain on a profitable path in 2023 with corporate lending continuing to drive credit growth in the sector
The enactment of the new regulations supports the DIFC Launchpad by providing a legislative framework for venture building
The company secured approval from the Saudi Capital Market Authority to offer 21,000,000 shares, representing 30 per cent of its issued share capital
The bank’s investment in Credit Suisse plunged by approximately 20 per cent by the end of 2022 and a further 70 per cent in Q1 2023
RAKBANK reported a record total income of Dhs1.07bn for the first quarter
Emirates NBD also enjoyed a record quarter for income, which exceeded Dhs10bn for the first time ever
The banking group’s operating income jumped 51 per cent YoY to reach Dhs6.7bn compared to Dhs4.5bn in the first quarter of 2022
This partnership will help fast-track the account opening process for SMEs and deliver seamless banking services through the Wio Business app
The Islamic lender is the 11th commercial bank to join EDB’s credit guarantee scheme platform
The bank’s balance sheet expanded by 1.3 per cent YTD to Dhs292bn while customer deposits settled at Dhs198bn
Proceeds from the five-year tranche will be used for general corporate purposes while the 10-year green bond will be used to finance projects as set out in the framework
The bank’s net interest income rose by 33 per cent to Dhs2.85bn while non-interest income surged by 34 per cent to reach Dhs1.06bn
The central bank said saving deposits in the banking system have increased in recent years, from Dhs152bn in 2018 to Dhs241.8bn in 2021
The collaboration with WorldGBC offers the bank a platform to strengthen its net zero commitments
The Abu Dhabi-listed firm said proceeds from the issuances will be used to finance eligible green projects including renewable energy
The universal bank said the move comes in light of its efforts to drive shareholders’ value by optimising its operations and improving the return on equity metric
The Ministry of Finance said government entities, government-controlled entities as well as extractive businesses are exempted from corporate tax
The company’s full-year revenue jumped 11.8 per cent to $517m, driven by an increase in revenue from toll usage fees
The bank said it continuously explores opportunities to boost shareholder value but does not foresee any transaction of this nature materialising in 2023
The new banknote will be available at banks and exchange houses starting from April 10
National Bonds attributed the strong growth to solutions such as the Golden Pension Plan, Global Savings Club and Sukuk Al Waqf
Dubai is home to more than 55,000 high net-worth individuals and over $3tn of private wealth is within an hour’s flight of the city
The loans will support the construction and operation of the 500MW Dzhankeldy wind farm and the 500MW Bash wind power plant in Uzbekistan
The bank will operate as ‘Saudi Awwal Bank’ after obtaining the necessary regulatory and shareholders’ approvals