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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

IFZA, CBD ink banking deal

IFZA’s priority remains to support its Professional Partners and Licensees through bespoke services. (WAM)
  • The free zone companies will now be able to also obtain personalized services.
  • A study by Dubai Chamber of Commerce said entrepreneurs face a lot of issues in opening a corporate bank account in UAE.

IFZA Dubai signed an agreement with the Commercial Bank of Dubai (CBD) to provide IFZA Free Zone companies with easy access to banking services and financial solutions.

The free zone companies will now be able to easily open special corporate bank accounts and obtain personalized services through dedicated onsite CBD relationship managers, starting July 2022.

A study by the Dubai Chamber of Commerce said entrepreneurs face a lot of challenges in opening a corporate bank account in the UAE.

65 percent of the entrepreneurs interviewed cited banking as their biggest challenge in a company set up in the UAE.

A study by IFZA showed 50 percent of the respondents echoed similar sentiments.

This includes facing issues in opening a bank account due to lengthy application processes, and difficulty in compliance or lack of information.

To ease these conditions, IFZA’s priority remains to support its Professional Partners and Licensees through bespoke services that aim to make doing business as easy as possible.