Emirates NBD, the banking group in the Middle East, North Africa, and Türkiye (MENAT) region, has launched the ‘Emirati Business’ package, specifically designed for businesses owned by UAE Nationals. This new offering aims to provide a comprehensive suite of services and benefits, enhancing the banking experience for Emirati entrepreneurs. The introduction of the Emirati Business...
Abu Dhabi Commercial Bank (ADCB) announced that S&P Global Ratings has upgraded its long-term issuer credit rating to ‘A+’ from ‘A’ with a ‘stable’ outlook. This elevation is attributed to the bank’s robust financial position and high asset quality. The upgrade places ADCB among the top three highest-rated banks by S&P in the MENA region....
HSBC Holdings Plc is set to intensify its investment banking efforts in Asia and the Middle East, following its recent withdrawal from significant operations in Europe and the United States, as stated by Chief Executive Officer Georges Elhedery. This restructuring initiative is projected to yield $1.5 billion in efficiency savings, allowing HSBC to invest in...
Accenture has partnered with the Commercial Bank of Dubai (CBD) to enhance the skills of the bank’s employees in the areas of data and artificial intelligence (AI). This initiative marks a significant step as CBD becomes the first bank in the UAE to implement an enterprise-wide data literacy program, empowering its workforce to obtain certifications...
The National Bank of Kuwait (NBK) is actively supporting the “Let’s Be Aware” banking awareness campaign, which was initiated by the Central Bank of Kuwait (CBK) in partnership with local banks and the Kuwait Banking Association (KBA). This campaign aims to enhance financial literacy, promote financial inclusion, and educate customers from various segments of society...
The National Bank of Fujairah has successfully finalized a financing agreement worth $100 million for the construction of a clinker production unit by Pure Cement LLC. This agreement is a single currency term loan aimed at supporting the growth of the cement production sector in the region. This significant investment highlights the bank’s commitment to...
Abu Dhabi First Bank Egypt has announced the launch of “FABMISR E-Connect,” a new digital platform designed specifically for large enterprises and multinational corporations. This innovative platform demonstrates the bank’s commitment to providing advanced banking solutions that redefine customer experience. The E-Connect FABMISR platform offers a comprehensive banking experience, enabling companies to monitor and manage...
The UAE banking sector demonstrated robust performance in 2024, characterized by a notable increase in lending and improved cost efficiency. According to a report by Alvarez & Marsal (A&M), the sector saw double-digit growth in lending, with a remarkable 12.6 percent year-on-year (YoY) increase across the top 10 banks. This growth was heavily influenced by...
Abu Dhabi Islamic Bank (ADIB) has made a huge advancement in the banking sector by launching Spatial Banking on Apple Vision Pro. This initiative marks ADIB as the first bank in the UAE to introduce a banking experience using Apple’s mixed-reality operating system, VisionOS. This launch aligns with ADIB’s strategic vision for 2035, which focuses...
In order to improve its digital banking services, Abu Dhabi Islamic Bank (ADIB) has signed an agreement with Visa, a major payment services company, to use cutting edge hacking technologies. With the danger of cyberattacks growing, this partnership aims to make online transactions safer and keep customer data safe. Visa’s security solutions will likely make...