Saturday 27 May 2017

UAE cbank to host IFSB Summit in Abu Dhabi

The Central Bank of the United Arab Emirates (CBUAE) is hosting the IFSB Summit 2017 in Abu Dhabi from October 23 to 26. A Memorandum of Understanding (MoU) on the collaboration for the event was signed between CBUAE and the Islamic Financial Services Board (IFSB), an internation


Somo to sell second Basrah Light cargo on DME

Iraq’s State Organization for Marketing of Oil (Somo) is set to sell a second Basrah Light cargo on the auction platform of Dubai Mercantile Exchange (DME), following the success of the first auction, said a top official. Two million barrels of Basrah Light crude will be pl


ME family-owned businesses see disruptions

Forty-six per cent of the next generation of leaders of family-owned businesses in the EMEA region expects that the market in which they operate will face disruption in the next two to three years, according to a new survey. Twenty-seven per cent also expects to lose market share


FAB Wealth Sentiment Index hits record high

First Abu Dhabi Bank (FAB), the UAE’s largest bank, has announced the latest score of its Wealth Sentiment Index (WSI), which reached an all-time high of 1038.28 in May, up 1.87 per cent from 1019.13 in April. Hana Al Rostamani, group head of Personal Banking at First Abu D


Creditbank offers combined credit and debit card

Creditbank, one of Lebanon’s leading and fastest growing banks, has partnered with Gemalto, a world leader in digital security and Unilux Cards to be the first bank in the Middle East to launch a combined credit and debit card. Developed in close cooperation with local part


Now pay RTA fines in instalments via ADCB

The Roads & Transport Authority (RTA) in Dubai has teamed with the Abu Dhabi Commercial Bank (ADCB) in launching an initiative enabling motorists to pay for their RTA fines and seasonal parking card rates in easy instalments. It involves the offering, through the ADCB, of interest-


Ria Money Transfer launches GCC, India expansion

Ria Money Transfer, claimed to be the third largest money transfer company in the world and subsidiary of Euronet Worldwide, has announced its expansion and ramp-up in the GCC countries. The company has more than 50 key business partnerships in the banking and financial services


UK’s Future Thinking opens new Dubai office

UK-based Future Thinking, a top data-driven business intelligence consultancy, has teamed up with its sister agency GemSeek for a new Dubai office, rolling out their combined offering for the Mena region. The new office, based at the Jumeirah Lakes Towers, will be led by Abhi Roy


Mobile remittances from UAE to Kenya up 14pc

Xpress Money, a global money transfer brand, has seen a 14 per cent increase in remittances from the UAE that culminate onto mobile wallets in Kenya in the last 2 years. The brand forecasts an additional increase of 5 per cent by the end of 2017. Mobile payments ar


Oman’s PEIE inks $129m facility with BankDhofar

Oman’s Public Establishment for Industrial Estates (PEIE) has signed financial facility worth RO50 million ($129 million) with Bank Dhofar for several infrastructure projects undertaken by the PEIE in its industrial estates, a report said. “Moreover, the agreement rep

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