Traze, a contracts for differences (CFDs) broker brand affiliated with ZFX, has made a significant move in the Middle East by securing an SCA First Category Licence from the UAE’s Securities and Commodities Authority (SCA). This development was announced by the company today. With this new licence, Traze is now authorized to provide a range...
First Abu Dhabi Bank (FAB) has emerged as the third-largest banking institution in the Middle East and Africa, with a market capitalization of $41.54 billion. This advancement was marked by a modest increase of 0.6 percent in its market value, reflecting the bank’s competitive standing in a robust financial landscape. The total market capitalization of...
The Bank of Bahrain and Kuwait (BBK) has announced a significant financing agreement worth BD58 million with Solidarity Group Holding. This Islamic Murabaha financing will aid Solidarity in its acquisition of Bahrain National Insurance (BNI), a subsidiary of Bahrain National Holding. Through this agreement, BBK emphasizes its commitment to supporting Bahrain’s economic development and enhancing...
Egypt has officially introduced a new instant international money transfer service that allows citizens to receive remittances directly from the United Arab Emirates and Saudi Arabia. This service operates through a government-aligned digital wallet platform, enhancing the ease and security of receiving funds from abroad. The initiative enables users to access transferred money immediately without...
The Ministry of Finance in the UAE has announced Cabinet Decision No 35 of 2025, which establishes guidelines for determining the nexus of non-resident individuals for corporate tax purposes. This new regulation clarifies when non-resident investors in Qualifying Investment Funds (QIFs) and Real Estate Investment Trusts (REITs) are subject to corporate tax under Federal Decree-Law...
Maseera Holding for Financial Investments (Maseera), a subsidiary of 2PointZero, has successfully acquired the Egyptian consumer finance platform ADVA. This acquisition aligns with 2PointZero’s earlier commitment of $1 billion in long-term capital aimed at scaling Maseera’s financial services platform globally, particularly focusing on enhancing access to credit in underserved markets. Founded in 2020, ADVA has...
The Central Bank of the United Arab Emirates has officially revoked the license of Dynamics Insurance Brokers. This decision was made in accordance with Article 22 (2) of the Council’s Decision, signaling a significant regulatory action within the insurance sector. The revocation comes as part of the Central Bank’s ongoing efforts to ensure compliance and...
SHL Finance Company has successfully renewed its Sharia-compliant credit facilities agreement with Arab National Bank (ANB) for SAR 1.91 billion, equivalent to approximately $509 million. The renewal, confirmed through a bourse disclosure, is set for a duration of five years and was officially obtained on March 23, 2025. The primary objective of this funding is...
Absa Group Ltd., South Africa’s third-largest bank by assets, is set to open a representative office in Dubai next year. This move aims to capitalize on the increasing trade and investment between the Middle East and Africa. Yasmin Masithela, the chief executive officer of Absa Group Ltd.’s corporate and investment banking unit, announced, “We’re setting...
In the first quarter of 2025, stock brokerage firms in the Dubai Financial Market added approximately 19 658 new trading accounts. This surge in account openings highlights an increasing interest in stock trading within the region. The growth in new accounts comes as part of a broader trend in the UAE’s financial markets, where more...