Banking & Finance

UAE’s total banking assets grow to $1.24 trillion in 2024 amid strong economic growth: CBUAE

The CBUAE forecasts an acceleration of growth to 4.7 percent in 2025, reflecting the resilience of the national economy

UAE bonds and sukuk surge to $309.4 billion by Q1 2025, up 8.3 percent YoY

UAE's debt markets are growing, reflecting its expanding financial ecosystem and strategic sukuk position

New UAE Cabinet decision on non-resident nexus for corporate tax regulations

This decision eases compliance for foreign investors and highlights the UAE's commitment to investment appeal

Amazon joins competitive race for TikTok ownership ahead of U.S. ban deadline

Buying TikTok could help Amazon attract younger shoppers and merge social media with shopping

EU approves $4.4 billion and $539.5 million loans for Egypt, Jordan

The Parliament approved macro-financial assistance to Egypt: 452 votes for, 182 against, 40 abstained

UAE central bank launches new Dirham symbol

Issuance of the Digital Dirham is expected to take place in the last quarter of 2025 for the retail sector

Technology could drastically cut risk and compliance costs for Middle Eastern banks

Regional financial institutions could significantly reduce their risk and compliance costs by more than 20 percent through strategic technology investments

Emaar shareholders approve 100 percent dividend payout of $2.4 billion

Emaar recorded property sales of approximately AED70 billion, marking a 72 percent increase compared to 2023

Emirates NBD, BlackRock join forces to offer high net worth clients private markets access

Alternative assets are expected to reach $30 trillion by the end of the decade

S&P upgrades ADCB’s credit rating to A+ on strong financial position, high asset quality

ADCB has transformed in terms of scale and profitability since the launch of its previous strategy in 2020

UAE central bank issues new AED100 polymer banknote with advanced security features

Polymer banknotes are also more durable and sustainable than traditional paper banknotes, lasting two or more times longer in circulation

ADNOC Gas shareholders approve record $3.41 billion dividend for 2024

Company's dividend was the highest of any issuer on ADX in 2024

Fitch affirms RAKBANK’s BBB+ long-term issuer default rating with stable outlook

The bank's asset quality improved with declining non-performing loans and strong loan-loss coverage ratios

Emirates Islamic’s $750 million senior unsecured sukuk oversubscribed 2.1 times

The sukuk saw demand from over 100 investors, including a considerable amount of new investors

DEWA approves $844 million dividend for H2 2024, elects new board of directors

In 2024, DEWA Group delivered another year of strong performance, reporting consolidated full-year revenue of AED30.98 billion

Egyptian banks report record profits of $10.6 billion in 2024

The net return for banks rose to EGP915 billion in 2024, up from EGP582.5 billion

Gulf SWFs lead global growth with assets set to reach $18 trillion by 2030, says Deloitte

Gulf funds are strategically pivoting toward Asia, with many establishing new offices throughout Asia-Pacific

UAE’s eInvoicing program: New portal, stricter criteria to boost financial efficiency

Accreditation is valid for two years; service providers must submit renewal applications before expiration

ADQ, Energy Capital Partners to invest $25 billion in powering U.S. data center

Partnership seeks to service the growing power needs of data centers, hyperscale cloud companies and other energy-intensive industries

EFG Holding to list consumer finance brand Valu on the Egyptian Exchange

EFG Holding will retain at least a 67 percent indirect stake in Valu through its subsidiaries

EFG Holding posts record revenue of $482 million with strong growth across verticals

The Group's net operating profit rose 84 percent Y-o-Y in FY24 to $175.9 million

Google to acquire cloud security platform Wiz for $32 billion

Google Cloud's acquisition boosts cloud security and enhances multicloud capabilities in the AI era

GCC banking sector poised for growth in 2025 on strong capital levels

Banks in the UAE will maintain robust growth in their lending activities, bolstered by relaxed monetary policies and a favorable economic environment