Banking & Finance

FAB and Microsoft announce landmark strategic partnership to shape the future of financial services globally

First Abu Dhabi Bank (FAB) and Microsoft will collaborate in developing new AI-based banking capabilities under a strategic business partnership signed today, with the...

Growing UAE saving culture propels National Bonds investments to record AED 14 billion in 2023

National Bonds, a leading Sharia-compliant savings and investment company in the UAE, today announced another remarkable year marked by significant growth, consistent profit sharing...

UPI-powered PhonePe App is now accepted at Mashreq’s NEOPAY terminals in UAE

Mashreq in partnership with NPCI International Payments Ltd. (NIPL), has taken a significant step forward in enhancing financial connectivity between the UAE and India....

Fitch affirms Ajman Bank’s ratings at ‘AA+’, outlook ‘stable’

The bank’s rating is driven by potential support from the UAE authorities if needed, as reflected in its government support rating of “bbb+”

ADIB leads closure of AED 863 million Shari’ah-compliant syndicated loan

ADIB acted as the lead arranger, coordinator, bookrunner, Shari’ah advisor, and investment and security agent on the deal

Emarat grants MBank the first naming rights to its stations

Through the Mbank digital wallet, Emarat station customers can conduct safe and smooth contactless payment transactions after refuelling their vehicles

EFG Holding posts EGP 14.7 billion in full-year revenues

The group’s net profit rose 47% YoY to EGP 3.2 billion in 2023, supported by the increase in profit at its brokerage division, asset management, Valu, and aiBANK

UAE central bank maintains the base rate at 5.40%

The Federal Reserve held interest rates at a 23-year high as officials affirmed their view for three rate cuts this year

UAE’s du secures licences to offer fintech services

The licences will enable du to offer a range of digital financial services that align with the evolving needs and preferences of customers in the digital era

A History of Progress

What do you think was behind NBF’s strong results in 2023? Well, before I attribute the strong results to various businesses, I would like to...

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