Abu Dhabi, UAE— Abu Dhabi Global Market (ADGM) Courts has announced the first-ever introduction of blockchain technology for the global enforcement of commercial judgments. The announcement was made during Abu Dhabi Finance Week. The blockchain solution will result in substantial time and cost savings for parties in the enforcement of...
Lebanese man who took bank staff hostage let off
Bassam al-Sheikh Hussein held bank staff hostage in Beirut last week to demand access to his trapped savings. After a long stand off Hussein turned himself in after the bank agreed to let him draw out $30,000 of his more than $200,000 in trapped savings.
Saudi finance ministry partners with Al-Ahly to develop savings bonds
Saudi’s Ministry of Finance and the National Center for Debt Management has partnered with Al-Ahly Financial Company to develop and launch savings bonds for individuals, and motivate them to save. This also includes discussing strategic partnerships with the private sector. The entities signed a deal regarding this, which is aimed...
Interconnection Authority enables Middle East save $3bn
The setting up of the Gulf Cooperation Council Interconnection Authority in 2019 has enabled countries in the Middle East to save $3 billion.Arab youths are increasingly saving, investing with fintech
The region's economic instability, exacerbated by the coronavirus pandemic, has spurred many to turn to online banking and financial tools.
