Mal, a fintech startup based in Abu Dhabi, has successfully raised $230 million in a seed funding round, marking a significant milestone in the fintech landscape of the United Arab Emirates. The company has also obtained provisional approval from the UAE Central Bank to launch a regulated Islamic digital bank, aiming to leverage artificial intelligence...
The latest report from Alvarez & Marsal has revealed that the largest banks in the UAE showcased a mixed performance during the second quarter of 2026. Several key metrics indicated resilience within the banking sector, whereas others pointed towards a trend of moderation. This nuanced performance presents a complex picture for stakeholders and investors in...
As the Gulf Cooperation Council (GCC) experiences a significant influx of global wealth, banks in the region are pivoting their strategies from mere customer acquisition to enhancing digital retention efforts. This shift reflects a broader recognition that sustainable revenue growth hinges on deepening existing client relationships rather than aggressively pursuing new ones. The wave of...
As the landscape of banking in the Gulf Cooperation Council (GCC) evolves, financial institutions are embarking on a significant journey towards technological modernization. This transformation is notably driven by regulatory shifts towards open finance, which have opened doors for enhanced competition and innovation in financial services. Regulators in the GCC region are championing the expansion...
First Abu Dhabi Bank (FAB) has officially stepped into a strategic partnership as the exclusive banking ally for the UAE-India Start-Up Series 2.0. This initiative seeks to facilitate the entry and expansion of dynamic Indian start-ups into the UAE market, strengthening the existing economic relationship between the two nations. The UAE-India Start-Up Series, a platform...
Emirates Islamic Bank has reported a significant increase in its operating profit for the first half of 2026, reaching AED 2.2 billion, marking a 10% rise compared to the same period last year. This robust performance underscores the bank’s success in navigating the competitive landscape of Islamic banking in the UAE. The surge in operating...
First Abu Dhabi Bank (FAB) has announced an impressive net profit of Dh10.73 billion for the first half of 2026, reflecting a robust growth trajectory amid escalating loan demand. This performance not only signifies an increase compared to previous periods, but it also indicates the bank’s resilience in a competitive financial landscape. The 7% growth...
United Arab Bank has reported a robust profit of Dh201 million for the first half of 2026, underscoring the institution’s solid performance in a competitive banking landscape. This impressive gain reflects a strong growth trajectory in the bank’s lending and investment activities, alongside a healthy increase in customer deposits. The bank’s total assets have reached...
Emirates NBD, the largest bank listed in Dubai based on assets, is reportedly in the race to acquire a majority stake in India’s IDBI Bank with a revised bid. The move comes as part of a competitive bidding process that has drawn interest from several financial institutions globally. According to reports, Canada’s Fairfax Financial Holdings...
China has solidified its dominance in the global banking sector, according to the latest rankings from The Banker, a respected Financial Times publication. The 2026 edition of the Top 1000 World Banks report reveals that seven Chinese banks rank among the top ten globally based on Tier 1 capital, with four of them being the...