In November last year, DIB priced its inaugural sustainable sukuk, a $750m five-year senior issue with a profit rate of 5.493 per cent per annum
Saudi Tabreed currently manages 779,000 tonnes of refrigeration (TR) via contracts with major companies in Saudi Arabia
The first stage of the programme will see the launch of the Card Domestic Scheme, an instant payments platform, and the issuance of Central Bank Digital Currency
The loan doubles the OPEC Fund’s commitment to AFC following an initial $50m 10-year loan provided in January 2021
The new rules provide guidelines for family businesses holding assets and operating in or from DIFC, in support of their succession and legacy planning for future generations
Investors in the region could be missing a big opportunity, as investment firms globally are facing increasing demand for ESG investment products that integrate thematic ESG strategies and comply with regulatory requirements
The three-year issue witnessed robust demand and was oversubscribed by 2.5 times
As the authority providing VA oversight across Dubai with the exception of DIFC, VARA facilitates VA-associated economic stability, investor protection, and jurisdictional resilience
The agreements were signed at the Saudi-Omani Investment Forum being held in Riyadh
The evolving landscape will require chartered accountants to steer the ship, bring clarity to the process and ensure compliance with regulations and policies
Saving deposits increased during the first 11 months of 2022 by 1.98 per cent, compared to about Dhs241.82bn at the end of 2021
Qatar Investment Authority becomes the Swiss bank’s second largest shareholder just behind the Saudi National Bank
The Federal Tax Authority said the early registration is open from January to May for certain categories of companies operating in the UAE
The bond proceeds will be allocated according to the specific criteria defined in the SDG Bond Framework focusing on food security, healthcare, infrastructure, education, employment, and renewable energy
Abdulmohsin Al Omran, founder and CEO, The Family Office, gives Gulf Business the lowdown
The world’s largest oil exporter is seeking to strengthen its relations with crucial trade partners
Technology integration in banking has exposed a whole new spectrum of capabilities that can be leveraged to improve performances by gaining an intricate understanding of operations
Saudi National Bank was an anchor investor in Credit Suisse’s capital raise and now holds 9.9 per cent in the firm
The fully digital financing process will make it easier for Tesla customers to apply for auto financing and improve their buying experience
The new guidelines involve the use of digital ID systems by LFIs to address their customer due diligence obligations
The virtual session covered issues related to macroeconomic trends and policies, cyber-financial cooperation, and opportunities for bilateral cooperation
The issuance is the first dirham-denominated bond by a bank since the creation of a medium-term yield curve by the Ministry of Finance
The inaugural summit will take place from January 23-25 at The Museum of the Future
The app maintains user confidentiality and privacy, while aiming to build and sustain trust in the emirate’s financial and economic systems
The bank is tracking the development of banks and fintechs to ensure their readiness to launch open banking services in Q1 2023
In addition to banking services, Wio Bank will provide experts and mentors to support startups in Flat6Labs Ignite’s programme
Once provisioned, customers can make quick and easy payments with the tap of their wristwatch and instantly view their transaction history in the app
AECB provides credit reports by collecting and analysing data on the credit histories of individuals and businesses, including cheque issuances and clearances and utility payments
Akshay Sardana, VP of Strategy and International Development at The Continental Group, offers insights on these trends
The streamlining and automating of revenue collection will help government entities to better plan and forecast as well as focus on their core business and services