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His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, the First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, met today with the CEO of Barclays Group. This meeting aimed to discuss various aspects of cooperation and investment opportunities between Dubai and the banking giant. During the meeting, Sheikh Maktoum emphasized...
Emirates NBD has made headlines by becoming the first bank in the UAE to introduce Visa+, a service designed to simplify international money transfers. In collaboration with Visa, a prominent player in digital payments, the bank aims to provide its customers with a faster, secure, and more efficient method to send money to Visa cardholders...
Wio Bank PJSC, recognized as the Middle East’s first digital financial platform, has launched the Wio Personal Salary Plan, offering salaried individuals in the UAE a remarkable 6% interest rate on their savings. This plan aims to enhance the financial wellness of employees amid rising concerns about financial stress impacting workplace productivity and mental health....
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...
Etihad Airways has announced the extension of its partnership with First Abu Dhabi Bank until 2027. This collaboration, which began in 2017, continues to reward Etihad Guest loyalty members with miles for their everyday purchases, enhancing the value for both FAB credit cardholders and Etihad Guest members. As part of the renewed agreement, UAE residents...
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...
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 Central Bank of the United Arab Emirates has officially revoked the license of Dynamics Insurance Brokers. This decision was made in accordance with Article 22 (2) of the Council’s Decision, signaling a significant regulatory action within the insurance sector. The revocation comes as part of the Central Bank’s ongoing efforts to ensure compliance and...
Absa Group, recognized as South Africa’s third-largest lender, is set to enter the UAE market in 2026. The decision comes as the bank aims to capitalize on the growing investment and business interests between the Middle East and Africa. The bank plans to establish an office in Dubai during the first quarter of 2026, pending...