Eightcap, a forex and contracts for differences (CFDs) broker based in Melbourne, has obtained a regulatory license in Dubai, allowing it to provide financial consultation and function as an introducing broker. This development was reported by FinanceMagnates.com. The license, categorized as Category 5, has been issued to Eightcap Financial Services MENA, a local entity that...
The Financial Services Authority (FSRA) of Abu Dhabi Global Market (ADGM) has announced the immediate implementation of amendments to its regulatory framework for digital assets. This decision follows extensive industry engagement and feedback on Consultation Paper No. 11 of 2024. The key focus of the amendments is on revising the process for accepting Virtual Assets...
Bank of Sharjah has announced its role as the Mandated Lead Arranger and Bookrunner for a significant US$155 million Club Loan aimed at supporting Daewoo Engineering. This financial arrangement highlights the bank’s commitment to facilitating major projects within the region. Credit: WAM The loan agreement was finalized recently, with participation from various financial institutions, showcasing...
Grant Thornton UAE, a prominent financial services firm, has officially announced the opening of its new office in Sharjah. This expansion aims to enhance the company’s service delivery and strengthen its presence in the UAE market. Credit: WAM The new office is part of Grant Thornton’s strategy to support local businesses and contribute to the...
The Abu Dhabi Investment Office (ADIO) has entered into a strategic partnership with Mizuho Financial Group, Inc. This collaboration aims to accelerate investment in the economy of Abu Dhabi, enhancing the emirate’s attractiveness as a business destination. Mizuho Financial Group is recognized as a leading global financial institution with a substantial customer base. Credit: Arab...
Dubai, UAE: Presight, a prominent global big data analytics company utilizing artificial intelligence, has announced its involvement as the “AI Industry Leader” sponsor at the upcoming Dubai FinTech Summit 2025. This event is scheduled for May 12–13 at Madinat Jumeirah and aims to showcase transformative fintech applications and innovations. Presight will promote its philosophy of...
The Saudi Central Bank (SAMA) has granted a license to “Tamawal” to offer finance aggregation services, marking a significant step in enhancing the financial sector in the country. With this latest addition, there are now six licensed companies providing finance aggregation services in Saudi Arabia. This decision reflects SAMA’s commitment to support the financial sector,...
The Ministry of Human Resources and Emiratisation (MoHRE), in collaboration with Abu Dhabi Islamic Bank (ADIB), has introduced the “Digital Wallet” as part of its digital services initiative. This new service is designed to streamline payments for corporate customers and improve government service efficiency, aligning with the UAE’s strategy for comprehensive digital transformation across all...
Bahrain’s Khaleeji Bank has introduced Visa+, a new service that allows users to send money to Visa cardholders in the Gulf Cooperation Council (GCC) using only the recipient’s mobile number. This initiative positions Khaleeji Bank among the first financial institutions to offer such a service, showcasing the market’s readiness for advanced financial solutions. With Visa+,...
Al Ansari Financial Services PJSC (AAFS), an integrated financial services group in the UAE and parent company of Al Ansari Exchange, has successfully finalized its acquisition of BFC Group Holdings (BFC). This deal, valued at USD 200 million, positions AAFS as the largest non-banking financial institution (NBFI) in the Gulf Cooperation Council (GCC) region, particularly...