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...
A prominent bank from the United Arab Emirates is taking significant steps towards entering the South African financial market, signaling its intent to diversify and expand its operations beyond the Gulf region. This move reflects the larger trend of Middle Eastern financial institutions looking to tap into the South African economy, which has been highlighted...
First Abu Dhabi Bank (FAB), the largest bank in the United Arab Emirates, has announced its intention to expand its operations into Africa by seeking a banking license in Nigeria, the continent’s largest economy. This strategic move comes as FAB aims to penetrate the dynamic and rapidly growing financial markets in Africa. Nigeria, with its...
Foreign investors and institutional investors made a strong return to the local stock markets yesterday, resulting in significant gains across the indices. The market capitalization of Abu Dhabi stocks increased by more than AED 20 billion, reaching AED 3.080 trillion, while Dubai’s market capitalization grew by AED 13.51 billion, surpassing AED 1 trillion for the...
Mashreq Bank has introduced a new savings account, the NEO PLUS Saver Account, which offers an impressive 6.25 percent interest rate on savings. This account is designed to be straightforward and rewarding, catering to both salaried and non-salaried customers. Salaried customers can benefit from a cashback of up to Dhs5 000 when they transfer a...
UAE banks are increasingly looking beyond their borders as they face domestic challenges and shifting interest rates, prompting them to pursue international growth opportunities. Leading Emirati banks are strategically expanding abroad to address local difficulties, such as early government repayments and pressure on net interest margins. For instance, Abu Dhabi Islamic Bank increased its exposure...
The National Bank of Ras Al Khaimah (RAKBANK) has announced a mandate for a $300 million fixed rate resettable unrated USD-denominated Regulation S Perpetual non-call 6-year additional tier 1 capital issuance, contingent upon market conditions. The bank holds ratings of Baa1 (Positive) from Moody’s and BBB+ Stable from Fitch. Several banks have been appointed to...
The major banks in the UAE are expected to achieve high single-digit loan growth in the second quarter, as analysts suggest that the ongoing Iran-Israel conflict is unlikely to dampen borrowing demand. This optimistic outlook comes as increased lending is anticipated to offset slightly lower net interest margins, which, in turn, should satisfy equity investors...
Dubai, UAE; 25 June 2025: Mashreq, a leading financial institution in the MENA region, has announced the opening of its new representative office in Türkiye. This expansion emphasizes Mashreq’s commitment to supporting Turkish financial institutions and corporations, enhancing its operational presence to a total of 15 countries. As one of the largest correspondent banks in...
The UAE Central Bank has announced a six-month suspension of a bank’s Islamic window from onboarding new customers. This decision also includes a fine exceeding Dh3.5 million ($953 632) due to the bank’s non-compliance with Sharia governance rules. An Islamic window refers to a unit within a conventional bank that allows customers to engage in...