Awaed Alosool launches Sharia compliant investment platform
RIYADH, SAUDI ARABIA - Awaed Alosool Capital announces the launch of the Awaed platform, revolutionizing investment opportunities in public listed companies....
Business
Debt Settlement Fund waives default loans worth over US$107m in UAE
DUBAI, UAE - The Citizens Debts Settlement Fund announced the exemption of 1,244 citizens from their debts with a total...
Geostrategy
Emirates NBD’s first half profit rises 17% to Dh4.8 billion
Total income of the Dubai’s largest bank has jumped 9 percent over the preceding half year due to a marked...
FAB reports H1 2021 Group Net Profit of $1.47 billion
First Abu Dhabi Bank saw a first-half 2021 Group Net Profit of AED5.4 billion ($1.47 billion), which was an 11%...
$350m Murabaha financing for Pakistan concludes
Twelve banks from the region fully subscribed the transaction in which Ajman Bank also acted as investment agent.
Saudi Central Bank has a plan to create 200,000 jobs
If the Saudi Central Bank’s (SAMA) plan to increase the number of locals working in the financial sector succeeds, it...
$196m deposited in July into Saudi home loans fund
During the month the Real Estate Development Fund has deposited the money into accounts of Saudi citizens benefiting from the...
Continued donor support to Jordan critical for reform: IMF
King Abdullah II of Jordan and the IMF official discuss global and regional developments and the efforts of the Kingdom...
Tunisia pays $506m in foreign debt, as economy falters
The country has seen its economy contract by more than 8 percent last year, and its pile of debt has...
Kuwait working on law to tap a $700-bn fund to help balance budget
Kuwait Investment Authority, which manages the fund, expects the fund's durability will not be affected by withdrawals
ADCB’s H1 net profit surges 76% to AED 2.524 billion
Abu Dhabi Commercial Bank has reported  a 76 per cent jump in first-half net profit to AED2.524 billion on the...
Former Saudi minister to head IDB
Former Saudi economy and planning minister Mohammed Sulaiman Al-Jasser will head the bank.
Awaed Alosool launches Sharia compliant investment platform
RIYADH, SAUDI ARABIA - Awaed Alosool Capital announces the launch of the Awaed platform, revolutionizing investment opportunities in public listed companies....
Business
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France issues arrest warrant for Lebanese central bank chief
A French investigating magistrate issued an international arrest warrant for Lebanon's central bank chief Riad Salameh, a source close to...
Geostrategy
CBUAE imposes administrative sanctions on 8 banks
ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) imposed administrative sanctions on eight banks operating in the...
Business
Khalifa Fund partners with Wio Bank
Wio will offer Khalifa members full digital account onboarding.
Business
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Business
ECB fines Goldman Sachs US$7.2m for misreporting capital needs
BERLIN, GERMANY -  The European Central Bank (ECB) has fined US financial giant Goldman Sachs US$7.2 million (6.63 million euros) for...
- Goldman Sachs Bank Europe was found to have "breached credit risk reporting rules" in 2019, 2020 and 2021, the ECB said in a statement.
- Capital ratios are key indicators of a bank's strength and ability to absorb losses in the event of market turmoil.
Business
ICIEC inks deal with SNB
ICIEC is world's only multilateral Islamic insurance firm.
- DCIP is a non-payment insurance policy against the default of issuing banks to meet their obligations under an irrevocable letter of credit.
- DCIP supports the potential of SNB to provide confirmation lines to various issuing banks in Saudi Arabia or ICIEC member states.
Business
EDB review ways to boost SMEs financial inclusion at 2-day event
ABU DHABI, UAE - Emirates Development Bank (EDB) displayed its flexible and customized financing solutions in the Annual Investment Meeting,...
- The Bank offers financing solutions with flexible terms for industrial companies and projects with high developmental impact.
- Financing options include capex financing, advanced technology adoption financing, renewable and energy efficiency financing.