Banking & Finance
The UAE has signed 146 double taxation avoidance agreements to date
Personal loans constituted 47 percent of banks' total lending, while corporate loans made up the remaining 53 percent
EDB’s targeted financing includes AED1 billion allocated for co-lending with commercial banks
The growth in earnings is driven by 11 percent lending growth and a rising interest rate environment
E-commerce and retail sector retained its position as the leading industry in Saudi Arabia's venture landscape
The interest rate on repurchase operations (repo) with the OCB for these T-bills is 6.00 percent
Banking sector's loans and advances grew 3.4 percent, reaching their highest level post-COVID-19
Total bids for Qatar's treasury bills and Islamic Sukuk reached QAR4.4 billion
The assets of Islamic banks operating in the UAE increased by about $23.41 billion over the past 12 month
Market to maintain growth this year and the next as it steadily approaches $1 trillion
The bonds are divided into two tranches and aim to fund environmentally friendly projects
Medium-sized enterprises took the largest share at 57.5 percent or SAR158.411 billion in March 2024
Strong demand seen from the eight primary dealers for both the 3-year and 5-year tranches of the sukuk
Partnership offers investors more efficient and unique ways to manage their portfolios
107 asset and fund managers operating in ADGM, currently managing 137 funds
MoF stated that this surplus was directed towards reducing public debt, and therefore there was no cash surplus
These revisions reflect reduced pressures on these banks' capital ratios in the upcoming FY2024/2025
Company's diverse ventures generated total proceeds of AED99 billion in 2023
This represents a 3.66 percent rise compared to the previous month
In-store payments, self-service checkouts and eCommerce solutions to transform global payment sector
The studio will focus on investments in Hedera-powered Web3 startups and enterprises building bankable DeFi solutions
Losses from rate cuts to reach around $2.8 billion or 1.9 percent of GCC banks' total equity
Banks demonstrated resilience and proactive strategies in adapting to market conditions
