• Qatar Central Bank head calls for enhanced GCC action to tackle challenges

    Doha, Qatar--Governor of Qatar Central Bank Sheikh Bandar bin Mohammed bin Saoud Al-Thani has called for strengthening joint action among the Arab Gulf states, especially in light of the economic and financial challenges that the world is experiencing in relation with growth, sustainable development, financial stability, and interest rate policies,...
  • NatWest profit soars 32%

    The British bank's net profit jumped to US$5.5bn in 2023.
  • UAB net profit grows 65%

    Total assets grew 25% in 2023 on strong growth in loans, advances.
  • UBS to reward shareholders

    Losses from costs of absorbing Credit Suisse narrow.
  • Qatar Central Bank issues treasury bills, sukuk worth US$686m

    DOHA, QATAR - The Qatar Central Bank issued treasury bills and sukuk with maturities of one week, one month, three months, six months and nine months totaling US$686 million (QR 2.5 billion). In a statement posted on the social media platform "X" on Thursday, QCB said that the issuance was...
  • Dubai’s RERA signs MoU with Zand Digital Bank

    Dubai, UAE--The Real Estate Regulatory Agency (RERA), the regulatory arm of Dubai Land Department (DLD), signed a memorandum of understanding (MoU) with ‘Zand Digital Bank’ identifying Zand as an approved bank authorised by DLD to oversee real estate development escrow accounts and offer associated services. Real estate escrow accounts are...
  • Abu Dhabi Islamic Bank adopts AI

    The bank expects to enhance operations with AI tools.
  • UAE insurance sector witnessed expansion in 2022: CBUAE

    Abu Dhabi, UAE--The insurance sector in the UAE witnessed growth and expansion across various key indicators during 2022, according to a report by the Central Bank of the UAE, reflecting a strong, dynamic, and active market driven by increasing demand and effective risk management. According to the apex bank's annual...
  • Astra Tech to launch financial services powered by AI in 2024, says CEO

    ABU DHABI, UAE - CEO and Co-Founder of Astra Tech Abdallah Abu-Sheikh said that the company will launch its first financial services empowered by artificial intelligence (AI) in 2024. In statements to the Emirates News Agency (WAM) on the sidelines of the Abu Dhabi Financial Week (ADFW), Abu-Sheikh said that...
  • ADIB lists $500m green sukuk on LSE

    The bank marked the issuance of its $500 million green sukuk.
  • HSBC Q3 profit up

    Its pre-tax profit more than doubled to US$7.7bn.
  • Mashreq’s net profit surges 122% 

    The Return on Equity also achieved a record high, reaching 32.1%.
  • Russian economy to grow 1.5 percent this year, says key European bank

    After having forecast a contraction earlier this year in Russia's economy, the European Bank for Reconstruction and Development is now expecting the country's economy to grow in 2023 thanks to rising oil prices. The bank said in May it expected Western sanctions against Russia"to be more effective in constraining the...
  • Russia’s largest bank launches new services in Iran

    Tehran, Iran--Russia’s largest lender, SBERBANK, is presenting a new service that allows its clients to transfer money to the Islamic Republic of Iran, the bank announced on Thursday. The service is available to both individuals and businesses using their Sber accounts, according to the bank.   “The money transfer service...
  • Russia’s Sberbank launches new tourism-oriented services in Iran

    Tehran, Iran -- Russia’s largest lender, SBERBANK, is presenting a new service that allows its clients to transfer money to Iran. The service is available to both individuals and businesses using their Sber accounts, Tasnim reported. “The money transfer service to Iran is new to us and the demand for...
  • Jadwa buys stake in Gissah

    The investment bank bought a 35% stake in Kuwaiti firm.
  • Lebanon freezes former central bank governor’s bank accounts

    Seen as a key culprit in the country's dramatic economic crash, former governor Riad Salameh's bank accounts were ordered to be frozen by Lebanon days after the the US, the UK and Canada slapped him with sanctions. The central bank has ordered the lifting of banking secrecy and the freezing...
  • QCB to grant licenses to website providers for comparing prices of insurance policies

    Doha, Qatar--Qatar Central Bank (QCB) has exhorted companies willing to work in providing website services to compare prices of insurance policies to promptly submit applications to receive the required license from the bank. In a statement on Saturday, QCB outlined that this announcement comes in alignment with financial sector and...
  • RAKBANK H1 profit $245m

    This is the bank's highest-ever half-yearly profit.
  • Bahrain secures 9th spot in survey for best expat destinations in world

    Manama, Bahrain--Bahrain has climbed up to ninth position in the top destinations in the world for expatriates, according to report published by global expat network InterNations. The country gained the higher position out of all the countries in the Middle East thanks to the ease of getting a visa, dealing...
  • Four shot dead near West Bank settlement: Israeli officials

    A day after the Israeli army killed six Palestinians, four people were killed on Tuesday near a settlement in the occupied West Bank. Around 100 Jewish settlers attacked residents and set fire to olive groves in Huwara, near Nablus. The deaths are the latest in a surge of violence, leaving...
  • Iran’s foreign minister arrives in Qatar to boost ties

    Tehran, Iran-- Looking to give a further boost to the relations between the two countries, Iran's Foreign Minister Hossein Amir-Abdollahian arrived in Doha to discuss bilateral relations, as well as major regional and international developments, with high-ranking Qatari officials. Amir-Abdollahian left Tehran for Qatar’s capital late Monday on an official...
  • UAE bank investments touch record high at US$149.35bn in March

    Abu Dhabi, UAE--UAE's bank investments climbed to a record level, touching $149.35 billion by the end of March, the highest level in the country's history, a report by the Central Bank of the United Arab Emirates revealed. The report, issued today, showed a YoY growth of 16 % compared to...
  • DIFC forum to focus on optimizing treasury operations

    Dubai, UAE - Standard Chartered will partner with the Dubai International Financial Centre (DIFC) in hosting the DIFC Treasury Leadership Forum, which will bring together senior treasurers from leading banks, multinationals and services providers to focus on how to optimize treasury operations for growth and the key trends shaping treasury...
  • European probe officials to question Lebanon central bank audit firms

    European investigators probing Lebanese central bank chief Riad Salameh's wealth will question officials from two international firms previously tasked with auditing the central bank's accounts, a judicial official said. Salameh is the target of a series of judicial investigations at home and abroad on suspicion of embezzlement and money laundering,...
  • Emirates Islamic Q1 profit up 76%

    The total assets grew by 4% to reach AED 77.9bn ($21.21bn)
  • Barclays Q1 net profit at $2.2bn

    The bank's profit was boosted by rising interest rates.
  • China’s property market buzzes with excitement after record slump

    Beijing, China--Pummelled by a housing crisis that caused a record-breaking slump last year, some Chinese property developers are starting to see light at the end of the tunnel, but analysts warn the sector is still on course to slow down in the long term. The real estate industry grew at lightning...
  • Credit Suisse chiefs apologize to shocked shareholders

    ZURICH, SWITZERLAND - Credit Suisse chairman Axel Lehmann said Tuesday he was "truly sorry" that the beleaguered bank could not be saved as he faced angry and tearful shareholders whose money has gone up in smoke. Credit Suisse's chiefs fronted up at the bank's annual general meeting, 16 days after its...
  • China Renaissance, investment bank, suspends share trading

    Beijing, China--Investment bank China Renaissance suspended trading in its Hong Kong-listed shares on Monday, saying the disappearance of its chairman meant it was unable to publish its annual results. Bao Fan, the group's billionaire chairman and executive director, went missing in February and was later revealed to be "cooperating" in an official investigation...
  • SRC, Alrajhi sign refinance deal

    SRC is looking to expand its refinancing portfolio.
  • Credit Suisse delays yearly report

    Delay has had no effect on its annual financial statement.
  • UAE best country globally for expat lifestyle, says HSBC survey

    Abu Dhabi, UAE - The United Arab Emirates is the best country for expat lifestyle, according to a survey by the HSBC. A total of 36 percent of the people surveyed said chances of having a better lifestyle is the main reason for relocating to the UAE, significantly higher than...
  • UAE mulls ‘options’ on Russian bank hit by new US sanctions

    MTS Bank, approved for its licence last year, was one of more than 200 entities and individuals targeted by the fresh sanctions on the first anniversary of Russia's invasion of Ukraine. The Central Bank of UAE said MTS earned its license because it "fulfilled the criteria for licensing branches of...
  • Giga projects attract more foreign banks to KSA

    At least six banks, seeking to open branches in Saudi Arabia, have obtained licenses from the Saudi Central Bank to conduct operations in the Kingdom in the coming months.
  • Saudi ministry signs MoU with Standard Chartered to boost mining investment

    Riyadh, Saudi Arabia – The Saudi Arabia’s Ministry of Industry and Mineral Resources (MIM) and Standard Chartered Bank (SCB) have signed a memorandum of understanding (MoU) to assess the requirements for sustainable investment in the mining sector in the Kingdom of Saudi Arabia, as per the objectives of Vision 2030....
  • Credit Suisse 2022 loss $7.9bn

    Since March 2021, bank's stock lost over 75% of value.
  • Rothschild family to take investment bank private

    The Rothschild family is set to take its investment bank private as its holding company announced plans to buy out the shares it does not own. Concordia, which holds almost 40 percent of the capital of Rothschild & Co. said it was in negotiations with investors and banks to finalize...
  • UniCredit 2022 net profit at $7bn

    Bank said it would pay out US$5.6 billion to shareholders.
  • UBS Q4 net profit at US$1.7bn

    Net profits at the banking giant rose 23% in Q4 of 2022.
  • ADIB net profit in 2022 is $985m

    ADIB's revenue increased by 23% to US$1.8 billion in 2022.
  • Emirates Islamic 2022 net profit $337m

    The profit was driven by funded and non-funded income.
  • NBF posts 195% profit jump

    The bank's net profit rose to $93 million in 2022.
  • Qatari banks to shore up liquidity position, profits in 2023: report

    Doha, Qatar-- As a windfall of the FIFA World Cup, banks in Qatar are expected to build profits and shore up their capital base and liquidity position in 2023, according to media report citing analysts. Qatari lenders had immense tournament-linked lending opportunities that began years ago, and it will help...
  • Britain fines Santander US$132m

    Firm fined due to gaps in anti-money laundering controls.
  • Saudi Crown Prince considering $500m investment in Credit Suisse

    Credit Suisse itself has previously said it had $500 million committed from an unnamed investor, and its chairman said last week that it has other firm commitments, the daily reported on Sunday.
  • Iran sacks bank manager for serving an unveiled woman

    Hardening its stance on the dress code, Iran has fired a bank manager who served an unveiled woman, according to local media even as demonstrations triggered by the mandatory head covering rule shake the country. Women in Iran are required to cover their heads, necks, and hair.
  • 2 Emirates NBD India branches

    The branches cater to northern, southern areas.
  • Emirates Islamic bank net profit for Jan-Sept period $285 million

    The bank attributed the profit to higher funded and non-funded income.
  • Credit Suisse to pay US$495m to settle legacy case

    It has agreed to pay $495 million as part of a deal reached with US prosecutors in a long-running dispute over mortgage-backed securities. The disputed dating back to the 2008 financial crisis will see the European lender make the "one-time payment" in order to resolve claims for compensation.
  • Lebanese lawmaker stages bank sit-in to free trapped savings for surgery

    Cynthia Zarazir, who was elected to parliament in May, is the latest in a growing number of angry depositors who are forcing Lebanese lenders to unlock savings trapped under informal capital controls imposed in the face of an unprecedented financial crisis.