#finance

Dina Sam'an Coinmena

The SME Story: Dina Sam’an, founder and managing director of CoinMENA

CoinMENA is a fully-regulated, onshore, and Sharia-compliant crypto assets exchange

Dubai Islamic Bank Nasdaq Dubai sukuk

Dubai Islamic Bank lists $500m sukuk on Nasdaq Dubai

DIB is the leading UAE-based sukuk issuer by value on Nasdaq Dubai with a total value of $6.3bn listed on the exchange

Sharjah Islamic Bank

Sharjah Islamic Bank operating profits up 27% in Q1 2021

Net profit for the three months ended March 31, 2021, amounted to Dhs164.2m, compared to Dhs153.7m for the corresponding period last year

Four reasons why investing is for everyone

As economies remain volatile, investing smartly can help anyone achieve financial freedom, according to AIX Investment Group

Tristar pulls Dubai IPO as investors push back on valuation

Tristar’s IPO was slated to be the second listing in three years on the Dubai Financial Market

Finance House

For UAE SMEs: These business solutions simplify services and boost earnings

UAE-based Finance House’s ‘Rabeh Business’ suite of products aim to support small businesses via a wide range of offerings

Emirates Sheraa

Emirates partners with Sharjah’s Sheraa to spur startup and entrepreneurship ecosystem

Emirates will offer discounted fares for attendees of the Sharjah Entrepreneurship Festival and to startups relocating to the UAE through Sheraa’s initiatives

Dubai Chamber

Dubai Chamber members’ exports reach Dhs54.8bn in Q1 2021, up 6% y-on-y

Over 6,000 new member companies joined Dubai Chamber in the first three months of 2021

Islamic Development Bank sukuk Nasdaq Dubai

Saudi’s Islamic Development Bank lists $2.5bn sustainability sukuk on Nasdaq Dubai

The total value of the bank’s sukuk listed on Nasdaq Dubai stands at $17.14bn

Logistics firm Tristar sets price range for second Dubai IPO in three years

The company plans to offer up to 24 per cent of its shares in the IPO

Oman is more than halfway towards meeting its financing needs for 2021

The government has OMR1.83bn left to raise after so far borrowing OMR1.77bn and withdrawing OMR600m from the Oman Investment Authority

Businesses trust robots more than humans to manage money

Oracle survey says 67 per cent of people would prefer robots manage their corporate and personal finances

Sheikh Hamdan bin Rashid Al Maktoum

Sheikh Hamdan bin Rashid, Deputy Ruler of Dubai, passes away

Sheikh Hamdan held the position of ‎Minister of Finance since the first formation of the Cabinet on December 9, 1971

UAE money laundering prosecution office

UAE gross bank assets at Dhs3.172 trillion at the end of January

Gross credit in the banking system grew from Dhs1.779 trillion by the end of December 2020 to Dhs1.779.2 trillion in January 2021

ADNOC Distribution

UAE’s ADNOC Distribution changes share dividend policy

It confirmed a minimum Dhs2.57bn dividend for 2022

UAE Central Bank

Overall liquidity in UAE banking system back to pre-Covid levels – Central Bank

The Central Bank of the UAE projects the country’s real GDP to increase by 2.5 per cent in 2021

Pure Harvest Smart Farms

UAE-based Pure Harvest Smart Farms raises $60m in new funding round

Shuaa Capital led a $50m structured sukuk for Pure Harvest co-investing with Franklin Templeton and Sancta Capital

Saudi Arabia’s Fannie Mae eyes debut international bond in 2021

The refinancing company was set up to buy home loans from banks and other finance companies, freeing up lenders to book more mortgages

Women’s Voice: My successful journey in a male-dominated industry

We have not yet reached gender parity – women today are still under-leveraged and undervalued in the workforce, says Invesco’s Zainab Kufaishi

Women’s Voice: How can we achieve gender equality in the financial space?

There is a lot of work that can be done by organisations to ensure more women are being considered for jobs and promotions

International Holding Company

Abu Dhabi’s International Holding Company reports Dhs3bn net profit for 2020

IHC’s total assets increased to Dhs14bn as of December 31, 2020, from Dhs4bn a year earlier

Etisalat du credit score

Etisalat, du to rely more heavily on UAE credit rating score for new postpaid customers

With the addition of Etisalat and du’s data, AECB’s customer information database stands at 9 million individuals and 600,000 companies

Anghami

MENA music streaming platform Anghami merges with Vistas Media, to list on Nasdaq New York

The agreement will result in Anghami becoming the first Arab technology company to list on Nasdaq New York

Dubai-listed Emaar Properties and Emaar Malls announce merger plans

As part of the transaction, the existing business of Emaar Malls will be reconstituted in a wholly owned subsidiary of Emaar Properties

NCB, Samba shareholders approve merger to create Saudi National Bank, kingdom’s biggest lender

Operations under the new name and structure are planned to start on April 1, 2021

First Abu Dhabi Bank

First Abu Dhabi Bank approves Dhs8.08bn cash dividends for 2020

The bank recorded a a full year 2020 net profit of Dhs10.6bn

Yemen

UAE provided over $6bn in assistance to Yemen since 2015, pledges another $230m

The amount will help fund international programmes that meet the medical, nutritional, and food security needs of the country

U.A.E. Financial Markets Following Veil Lift on Debt

UAE raises daily decline limit in shares back to 10% from February 28

Authorities had reduced the cap to 5 per cent in March 2020 to contain the fluctuations triggered by the pandemic

Different Arab money

Revealed: Impact of Covid-19 on GCC retail banks revenues

BCG says earnings could shrink by -2.1% annually between 2019 and 2024

Saudi to only award government contracts to firms that have an HQ in the kingdom

The new decision, which does not apply to private sector firms, will take effect from January 1, 2024