Zurich International Life, the UAE branch of Zurich Insurance Group, has published its financial report for the year ending December 31, 2024. This report includes insights from independent auditors who have assessed the company’s operations in Dubai. The report highlights the overall performance of the branch, focusing on key metrics and financial health. Zurich International...
Ambit Global Private Client (Ambit GPC), a player in bespoke financial solutions, has officially launched its operations in the Middle East with a new office located in the Dubai International Financial Centre (DIFC). This strategic expansion follows Ambit’s acquisition of Dubai-based Moonrock Investments Ltd in November 2024, which underscores the Indian wealth management firm’s ambition...
Scientific & Medical Equipment House Company has successfully secured a Shariah-compliant credit facility agreement valued at SAR 265 million, approximately $70.5 million, with Alinma Bank. The agreement was finalized on April 8, 2025, and is intended to support the company’s ongoing and future projects. The company plans to utilize the funds not only for financing...
The Central Bank of the UAE has signed a Memorandum of Understanding with the National Bank of Kazakhstan and the Agency of Kazakhstan for Regulation and Development of Financial Market. This agreement aims to bolster financial cooperation between the two nations. Khaled Mohamed Balama, the Governor of CBUAE, represented the UAE during the signing, which...
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...