Banking & Finance

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...

UAE banking sector poised for continued growth in 2024

Total assets of banks operating in the UAE increased by 3.1% quarter-on-quarter in Q4 2023 to reach AED 4.075 trillion

National Bank of Fujairah hosts knowledge-sharing platform, taking stock of first year of UAE’s corporate tax regime

The National Bank of Fujairah (NBF) has hosted the latest in its successful series of knowledge-sharing events, providing a round-up of the recent developments...

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