The Investment Corporation of Dubai (ICD), the main investment arm of the emirate’s government, is exploring the possibility of entering capital markets with a series of initial public offerings within the next year, as suggested by analysts. ICD, established in 2006, boasts a valuation of approximately $340 billion and already has Emirates NBD, the largest...
Several banks operating in the UAE have recently launched a financial calculator within their mobile applications. This tool aims to help individuals track their monthly income against their expenditures, emphasizing the importance of maintaining a balance between the two and avoiding overspending. According to this new service, which is provided free of charge to clients,...
Banks are poised to report substantial trading revenues in the first quarter of 2025, driven by a volatile market that has sparked increased investor activity. According to BCG Expand, a research and data provider owned by Boston Consulting Group, the total revenue pool for global markets is expected to expand at an annual rate of...
The Central Bank of the UAE (CBUAE) has unveiled a new symbol for the UAE’s national currency, the Dirham, coinciding with the country’s entry into the FX Global Code. This initiative reflects the vision of the UAE’s leadership and the guidance of His Highness Sheikh Mansour bin Zayed Al Nahyan, who is the Vice President,...
Yabi has introduced an innovative AI-powered financial coach, designed to assist users in managing their money effectively. This platform aims to revolutionize personal finance management in the UAE by providing a personalized coaching experience that adapts to individual spending habits and lifestyle choices. With financial literacy in the UAE facing challenges—only 38% of adults are...
The Turkey Wealth Fund, which is state-backed, has successfully secured its first loan without requiring a treasury guarantee, with backing from banks listed in the UAE. According to a report by Daily Sabah, the sovereign fund raised €1.1 billion (approximately $1.2 billion) through a two-year syndicated loan involving 20 banks from 12 different countries. The...
Australian fintech startup InDebted has officially launched its operations in the United Arab Emirates (UAE). This expansion marks the company’s entry into its seventh market since it was established in 2016. InDebted specializes in digital debt collection solutions, employing artificial intelligence to provide personalized repayment options for its clients. The company places a strong emphasis...
ICM.com has successfully obtained its second licence in the United Arab Emirates (UAE), marking a significant step in the brokerage’s efforts to strengthen its foothold in the Middle East. The announcement was made today, revealing that ICM MENA, a subsidiary of ICM.com, received the Securities and Commodities Authority (SCA) licence from Dubai’s regulatory authorities. This...
Five banks and two insurance companies in the United Arab Emirates have been penalized a total of AED 2.62 million for failing to adhere to tax regulations, as announced by the Central Bank of the UAE (CBUAE) on Tuesday. The CBUAE reported that the penalties were imposed after the entities did not comply with the...
Abu Dhabi Commercial Bank (ADCB) announced that S&P Global Ratings has upgraded its long-term issuer credit rating to ‘A+’ from ‘A’ with a ‘stable’ outlook. This elevation is attributed to the bank’s robust financial position and high asset quality. The upgrade places ADCB among the top three highest-rated banks by S&P in the MENA region....