Pakistan has recorded a remarkable increase in remittances, reaching an all-time high of $41.6 billion, primarily fueled by the contributions from Saudi Arabia and the United Arab Emirates. This surge in funds from overseas Pakistanis plays a critical role in the country’s economy, providing essential support for families and contributing to economic growth. The significant...
In a notable development for the financial landscape of the United Arab Emirates, Nasdaq Dubai has reported the addition of $13.8 billion in fixed-income listings throughout 2026. This significant increase brings the total outstanding sukuk—Islamic financial certificates similar to bonds—up to an impressive $98.6 billion. Such growth not only underscores the growing appeal of Islamic...
As the second quarter of 2023 approaches its conclusion, companies across the Gulf region are preparing to release their financial results, which are expected to reveal a mixed picture of the economic impact stemming from the ongoing conflict in Iran. Particularly, many observers are indicating that banking institutions are likely to experience the most significant...
AM Best, a global credit rating agency, has reaffirmed the high credit ratings of Orient Insurance PJSC and its key subsidiaries, Orient Insurance Company – Egypt and Orient Takaful PJSC. The agency assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a+” (Excellent) to these entities, noting a stable...
Recent weeks have seen significant delays in bank transfers from Saudi Arabia to the UAE, creating uncertainty for businesses and individuals engaged in transactions between the two leading economies in the Arab world. These unusual delays are particularly alarming for companies that rely on swift financial operations, posing risks to their cash flow and overall...
Ajman Bank has announced the successful pricing of its inaugural USD 300 million Additional Tier 1 (AT1) Perpetual Sukuk, featuring a profit rate of 6.500%. This significant financial instrument, which is structured as Non-Call for 5.5 years, demonstrates Ajman Bank’s strategic move to enhance its capital base, ensuring it meets regulatory requirements while also appealing...
The Government of Bahrain aims to raise BD 250 million ($658 million) with its latest development bond offering, which opens for subscription today, July 2, 2025. This initiative is part of Bahrain’s ongoing efforts to attract investment and strengthen its financial position. The new bond, which is listed on the Debt Primary Market, provides investors...
The Dubai International Financial Centre (DIFC) has announced its intention to enact new Variable Capital Company (VCC) Regulations aimed at enhancing investment structuring and asset management options for proprietary investments within the DIFC. This initiative positions the DIFC as a leading financial hub in the Middle East, Africa, and South Asia (MEASA) region. Jacques Visser,...
Wealthbrix Capital Partners Limited has officially entered the market as an independent wealth management firm based in the Dubai International Financial Centre (DIFC). The firm announced its launch today, backed by an eight-figure investment aimed at enhancing wealth management services in the region. The newly established firm boasts an experienced board that is committed to...
UAE investors can now buy gold directly from a refinery thanks to a new partnership between O Gold and Emirates Gold. This collaboration allows users of the O Gold app to purchase certified gold products at what are described as ‘refinery-direct rates’. Currently, O Gold has 75 000 active users utilizing its platform to access...