Banking & Finance

Mashreq invests in NymCard as part of venture fund to support UAE FinTech ecosystem

Mashreq has taken a stake in NymCard, the only Banking-as-a-Service provider in the Middle East, to help grow the booming FinTech ecosystem in the...

Emirates Development Bank and Dubai Islamic Bank sign MoU on credit guarantee for SMEs

The Emirates Development Bank, a key financial enabler of the country’s economic diversification and industrial transformation agenda, and Dubai Islamic Bank – the largest...

‘Phenomenal’ pace of Middle Eastern reforms and new working week will see capital inflows surge in the UAE

Economic reforms across the Middle East have set conditions for a surge of new liquidity into the region and a re-appraisal of prospects for...

GFH Financial Group launches GCC $100 million Sukuk Fund

GFH Financial Group (GFH) has announced that is has launched and seeded a $100 million sukuk fund which holds a diversified portfolio of sukuk...

Standard Chartered Bank reports its highest operating profit since 2015 in the Africa and Middle East region.

Standard Chartered PLC today released its financial results for the full year and fourth quarter ending 31 December 2021. See link here In the Africa...

HSBC launches green repurchase agreements with QNB transaction

HSBC has launched a new green finance instrument in the Middle East, North Africa and Turkey region that will help increase the short term...

Bank ABC announces 2021 results, reports a net profit of US$100 million attributable to the shareholders of the parent

The Group delivered solid results during 2021, benefitting from a pick-up in activities across its core markets and much lower impairment charges. The current...

First Abu Dhabi Bank submits a non-binding offer for a majority stake in EFG Hermes

First Abu Dhabi Bank (FAB) announces that it has submitted a non-binding offer for a potential cash acquisition of a majority stake in Egyptian...

GFH Financial Group reports net profit of $84.22 million attributed to shareholders for 2021

GFH Financial Group announced its financial results for the fourth quarter and twelve months ended 31 December 2021. Net profit attributable to shareholders was  US$23.88...

Commercial Bank of Dubai (CBD) reports record net profit, up 29.5% on the prior year

Commercial Bank of Dubai has delivered a net profit of AED 1,451 million for the year ended 31 December 2021, up 29.5% year-on-year. The...

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