Banking & Finance

Hedge fund industry sees $190 billion asset growth in Q1, hits record $4.3 trillion

The industry attracted $16.6 billion in new investments, with a focus on equity and event-driven hedge fund strategies

UAE corporate tax: FTA urges registration by May 31 for select licence holders

Failure to comply with the deadlines could result in administrative penalties

UAE’s ADNIC acquires majority stake in Allianz Saudi Fransi, expands footprint in Gulf region

The acquisition will make ADNIC one of the Tier-1 listed insurers in Saudi Arabia

The World Bank: MENA can be an engine for change, partner for sustainable future

Region must tackle important structural reform agenda to ensure peace and stability

MENA’s banking and finance sector embraces the digital tide

Tech-driven transformation revolutionizes banking and finance in the Middle East

Visa’s CEMEA President Andrew Torre on getting ready for the next wave of digital disruption

Businesses need to be agile, adapt their strategies and invest in digital infrastructure

ADGM’s Emmanuel Givanakis: Robust regulatory frameworks, key to success of the UAE’s financial landscape

With ADGM’s FSRA as a premier advocate, the Emirate is assured a progressive financial service environment

EFG Holding Group CEO Karim Awad: Investing in infrastructure and innovation to stay ahead

Future-proofing business key to meeting shareholder expectations and long-term success

Digital asset custody transforming financial services in the Middle East

It offers a secure and streamlined approach to the storage and management of digital assets

How can banks stop fraud in a world of instant payments?

Lenders must use innovative approaches to gain customer trust and acceptance of instant payments

Qatar Central Bank’s foreign reserves surge 5.2 percent to $67.9 billion in March

The official reserves at the end of March 2024 increased by $3.11 billion

Egypt’s budget surplus soars to $8.74 billion in first nine months of FY 2023/2024

This marks a substantial growth compared to $1.05 billion in the same period in FY 2022/2023

Visa Impact series: Empowering merchants to go cashless

Zarina, a small business owner and Dordoi Bazaar merchant, was able to access the global digital economy thanks to impactful Visa partnership.

China to establish $70 billion re-lending program to support science and technology sectors

21 banks will provide loans to small and midsize technology companies at a 1.75 percent interest rate under this program

Visa Impact series: Small steps toward greater outcomes

A regional and global winner of the Visa Everywhere Initiative, fintech company Thrive Agric is digitally enabling smallholder farmers across Africa

Total assets of Qatar’s banks surge 5.8 percent to $541 billion in February

Meanwhile, domestic credit saw a 5.8 percent annual increase to QAR1.26 trillion

Digital wallets empower financial inclusion and cross-border payments: Visa report

The global volume of digital wallets is forecasted to reach $12 trillion annually by 2028

UAE banking sector transfers exceed $411.7 billion in January 2024: Central Bank

Meanwhile, the value of cash deposits in the central bank reached AED15.466 billion in January 2024