Standard Chartered has announced the launch of a new investment fund specifically designed for affluent clients in the UAE, with a strong focus on opportunities within Asian markets. This strategic initiative is aimed at seizing the potential for long-term growth in the region, reflecting the bank’s commitment to enhancing its wealth management services in the...
The Dubai Financial Services Authority (DFSA) has unveiled its 9th Audit Monitoring Report, which underscores its commitment to enhancing audit quality within the Dubai International Financial Centre (DIFC). This latest report reflects the DFSA’s ongoing efforts to set benchmarks for audit standards and practices in the region, contributing to the overall integrity and transparency of...
Overseas Pakistanis have significantly contributed to Pakistan’s economy by sending a record $41.6 billion in remittances, with Saudi Arabia and the UAE being the top sources. This remarkable influx underscores the vital role that expatriates play in sustaining economic growth and stabilizing the country’s financial landscape. The weight of these remittances has positioned them as...
In a significant development for the real estate market, Abu Dhabi has introduced its first off-plan home financing solution, allowing prospective buyers to secure up to 75% funding from Abu Dhabi Islamic Bank (ADIB). This groundbreaking initiative spans the entire construction process, from the initial development stages all the way to the handover of properties,...
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...