The banking group is supporting efforts to combat global wildlife trafficking by joining the United for Wildlife financial task force.

A total of 74 listed companies listed in the Abu Dhabi Securities Exchange (ADX) accounted for 59.8 percent of total assets, valued at $771 billion at the end of June 2022.

Smaller banks may be left behind if they don't invest appropriately in digitalization, Redmond Ramsdale, Head of Middle East Bank Ratings at Fitch Ratings, tells TRENDS.

A Central Bank of Iraq report showed that the unemployment rate rose to 16.5 percent in 2021, compared to 11.9 percent in 2012.

GCC countries are accelerating economic integration by activating the financial links between companies, banks, and stores to make life smoother for citizens and residents.

The GCC region is now witnessing an increase in adoption of open banking system and implementation plans are being put in place as regulators set new market policies.

Even as only half of the significant insurers in the region are disclosing ESG information, sustainability has gained significant traction in financial services in last few years.

The Saudi Central Bank (SAMA) said a study revealed that electronic payments increased from 44 percent in 2019 to 62 percent of all payments by volume in 2021.

The Central Bank of the United Arab Emirates has issued its Financial Stability Report for 2021, which outlines the measures taken by the CBUAE to support the national economy during the COVID-19 pandemic and safeguard the stability of the financial system.

Another important and influential trend being witnessed by the banking sector in the region is reduced physical networks and shifting some of the staff to more cost-effective locations. All this allows financial institutions to serve their clientele better and provides convenience to the customers by saving their energy and time.

A high penetration of digital technologies and a tech-savvy younger consumer base among the factors that make the region a fertile ground for the flourishing of online banking. The present laws and regulations in most GCC countries have significantly influenced this sector's development. Aiding the region in its embrace of...

The establishment of over 40 financial free zones in the UAE has encouraged innovation in digital banking. The fintech market in Saudi Arabia, meanwhile, is expected to grow by 55 percent by 2033.

Forward-leaning financial institutions are ready to seize strategic opportunities to secure their stake in the future of Web 3.0. Right strategies will help traditional banks in giving an edge to their competitors in the cyberspace.

According to a report by the UAE's Ministry of Economy, during the past decade from 2012 to 2021, FDIs in the country increased by 116 percent, amounting to $20.667 billion in 2021 compared to $9.566 billion in 2012.

The bank's profits have been hit by Turkey's soaring inflation.

A Joint Operations Center for Saudi Banks tasked with following up and monitoring cases of financial fraud that bank customers may be exposed to has been inaugurated by Saudi Central Bank Governor (SAMA) Dr. Fahd bin Abdullah Al-Mubarak. The center brings together all Saudi banks under one roof to improve...

China's banking regulator has urged lenders to extend more credit to real estate developers, as a growing number of homebuyers withhold mortgage payments on unfinished housing projects across 50 cities.

Common Reporting Standards is a global methodology for the automatic exchange of financial accounts and tax-related information with other financial regulatory organizations across the world through secure channels.

The value of home loans granted by the GCC govts to their residents range between $150,000 and $330,000 and are repaid through simplified methods and in short payments.

The sector, according to a KPMG report, scores low on customer satisfaction due to operational issues, lack of timely support, long waiting times and lack of feedback.

The Central Bank of Jordan issues a circular asking local banks not to change interest rates on loans to individuals. CBJ’s decision comes in light of the current changes to interest rates and to ease the burden of repaying loans for individuals.

Qatar Central Bank is working on designing a new strategy for financial technology and intends to launch it during the last quarter of 2022

More countries are experimenting with CBDCs and some are beginning to bring them to market, potentially offering lessons for the rest of the world.

The company has appointed Hisham Hammoud to the post.

The UAE Central Bank announced that the money supply aggregate M1 increased to AED 701.9 billion at the end of December 2021.

Lebanon’s Deputy Prime Minister Saadeh al-Shami claimed on Monday that the country and its central bank had gone bankrupt. The claims seemed to be in line with exclusive reporting from TRENDS in December that said around $7 billion was missing from BDL’s books.

Of recent, Islamic banking has been getting quite a boost from governments and financial institutions in the Gulf Cooperation Council.

Regional players eye big share as Metaverse is expected to become a US$800 billion market. Some analysts believe it will hit $30 trillion by 2030.

Malaa Technologies will launch its banking operations in Saudi Arabia after it obtained an approval from the kingdom’s central bank.

The Central Bank of UAE has approved the creation of 5,000 new jobs by the end of 2026 for Emirati nationals as part of the Emiratization of managerial positions in the banking and insurance sectors. The jobs will be created in coordination with the Emirates Institute for Banking and Financial...

The total green sukuk market is worth more than US$15 billion, according to Refitiniv, with the Islamic Development Bank (IsDB) being the first in the market with a US$ 2.5 bn offering. However, figures show that Sustainability and green-themed Sukuk were rising in 2021, mainly since large entities are investing...

The sanctions came as the Russian military stepped up its bloody, multi-pronged assault against Kyiv and other Ukrainian cities.

Cloud market in UAE is at emerging stage and is likely to witness rapid growth in the coming years due to high adoption rate among SME’s and the digital transformation agenda.

Qasemi, who headed a high-ranking delegation to Syria, met with senior officials from Syria.

The Kuwaiti bank’s lending amount was spread across 23,000 loans.

To avoid giving the Taliban access to Afghanistan's reserves, Washington froze an estimated $10 billion held by the central bank abroad after the Taliban seized power on August 15.

The $2.2-trillion Islamic finance industry is set to take off in a big way across the world as it recovers from the Covid-19 pandemic. But it may not be the case in the Europe.

The new methodology also introduces measurement of these exposures, based on credit risk-weighted assets using the CBUAE’s capital adequacy standards.

Over the last three years, ADIB has catered to the growing demand for commercial property investments in London as well as major regional cities in the UK.

The proposal was mooted at the apex bank's fifth board meeting chaired by Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, and Chairman of the Board of Directors of the Central Bank of United Arab Emirates. 

The region's economic instability, exacerbated by the coronavirus pandemic, has spurred many to turn to online banking and financial tools.

The OPEC Fund’s support will assist in boosting Afreximbank’s liquidity to grow its loan portfolio as it finances exports and imports in critical sectors across Africa.

The region’s financial regulators must be extra vigilant to avoid catastrophic debt crises, Khalid Abdulla-Janahi, chairman of Vision 3, UAE, tells TRENDS

The Iranian banking system has paid 12.41 quadrillion rials (over $295.49 billion) of facilities to domestic economic sectors in the first six months of the current Iranian calendar year (March 21-September 22). This is 57.9 percent higher than the amount in the same period from the previous year.

There will be ample job opportunities in artificial intelligence, robotics, automation, advanced manufacturing, virtual reality, augmented reality and big data analytics.

The Saudi and UAE bourses saw quite some ups and downs in the week that began on Sunday, October 10.

Both will work to support the growing fintech market in UAE.

NBFX will help customers digitally hedge their treasury requirements.

Gargash Goup, the UAE-based conglomerate, has bought out Deem Finance, the financial services provider, for an undisclosed sum. The conglomerate has businesses in automotive, real estate and non-banking financial services sectors.

The combined net profit of four major banks in the United Arab Emirates has vaulted to $4 billion in the first half of 2021, up 17 percent compared to the same period last year.