Banking & Finance

ADGM Academy, Fintech Tuesdays partner to strengthen fintech innovation in UAE, MENA

Training programs will include content to support the fintech and digital community, driving upskilling and re-skilling

Dubai Islamic Bank issues $500 million additional Tier 1 Sukuk

The issuance drew a diverse investor base, including banks and fund managers from Europe, Asia, and the Middle East

Outstanding global sukuk up 8.5 percent to $900 billion in Q3 2024, says Fitch

Fitch expects rates to reach 4.5 percent at the end of 2024 and 3.5 percent at the end of 2025, boosting Q4 and 2025's issuance activity

Oman’s public state revenues rise to $20.78 billion in August 2024 on oil revenue surge

Current public revenues reached OMR2.2 billion, down from OMR2.334 billion during the same period in 2023

Qatar Central Bank launches 2024-2030 strategy with 25 key initiatives, over 200 projects

Strategy's core values include integrity, excellence, innovation, sustainability, and inclusion

Welcome to the Capital of Capital: Abu Dhabi to hold ADFW 2024

More than 300 renowned speakers to address over 18,000 participants across 50 event

Ooredoo raises $500 million through 10-year bond issue

The bond features an annual coupon rate of 4.625 percent and matures in October 2034

ADIO, HSBC partner to drive bilateral trade, investment flows between Abu Dhabi and Asia

HSBC’s 160-year heritage in Asia gives the bank the expertise and reach to help achieve Abu Dhabi’s international goals

Abu Dhabi tops Global SWF charts with $1.7 trillion in assets under sovereign wealth fund management

The top six cities manage two-thirds of sovereign wealth fund capital globally, which amounted to $12.5 trillion in October

Dubai’s Financial Audit Authority to reveal 3 new digital services at GITEX 2024

One key service is the Al Mo’ashir Dashboard, a platform that provides insights from the Authority’s auditing data 

ADIA establishes subsidiary in India’s GIFT City

The subsidiary has received regulatory approval from the IFSCA and is now operational

Emirates Development Bank’s financing hits $3.51 billion in Q3 2024

Bank allocated $1.20 billion for the development and growth of Dubai’s key sectors

Saudi Arabia’s Alinma Bank, Dell Technologies partner to advance financial services

Partnership marks a significant step forward in the Shariah-compliant bank’s digital transformation strategy

Hayat crowned winning solution of Mastercard Challenge on Financial Inclusion for the SDGs

Challenge highlighted the innovative potential of Bahrain’s youth, showcasing their ability to tackle complex global challenges

Egypt’s external debt falls by $15 billion in six-month period, says PM Madbouly

Egypt's external debt stood at $168 billion in December 2023 and fell to $152.8 billion by last June

$1.1 billion available for investment, funding requests from member countries: World Green Economy Organization

Funds are sourced from private sector investors and organizations eager to invest in green economy projects

Dubai’s Parkin announces first interim dividend of $54.1 million

Cash dividend will be paid to shareholders at the end of October

DoH – Abu Dhabi, Ma’an raise over $4 million for Abu Dhabi health Research and Innovation Grant

This initiative supports DoH’s mission to transform the regional healthcare landscape through science and technology 

UAE insurance sector profits reach $680.6 million in 2023, reports CBUAE

The total number of insurance policies written across all types in the UAE surged to 14.6 million 

$19.55 billion of Islamic bonds, sukuk listings on Abu Dhabi market: UAE’s SCA

The listings comprise 10 conventional tranches and 6 additional issues categorized as green bonds and sukuk focused on sustainability 

Egypt’s FDI net inflows surge to all-time high of $46.1 billion in FY2023-2024, says central bank

Net FDI inflows into the non-oil sector rose to $46.4 billion following the $35 billion Ras-El Hekma deal

DFM sees 10.9 percent gain in 2024, leading GCC markets with 4.1 percent monthly growth in September

The overall growth was widespread, driven particularly by significant gains in key indices such as the Financial Index

Ripple to introduce cross-border payment services in UAE following DFSA approval

Ripple will be the first blockchain-enabled payment services provider to be licensed by the DFSA