Banking & Finance

Egypt’s net foreign assets deficit contracts to $3.68 billion in April: CBE

Total foreign liabilities held by the CBE and commercial banks in April reached EGP32.523 trillion

Qatar Central Bank issues treasury bills, Islamic sukuk worth $1.1 billion

Total value of bids for the Treasury bills and Islamic bonds reached QAR 11 billion

UAE’s financial sector welcomes new Open Finance regulation

Open Finance is beneficial for both fintechs and their customers

UAE, Qatar sign double taxation avoidance agreement

The UAE has signed 146 double taxation avoidance agreements to date

Saudi banks see 11 percent increase in loans in April, surpassing $715 billion driven by corporate activities

Personal loans constituted 47 percent of banks' total lending, while corporate loans made up the remaining 53 percent

Make it in the Emirates Forum: EDB commits $1.36 billion to propel UAE’s manufacturing sector

EDB’s targeted financing includes AED1 billion allocated for co-lending with commercial banks

Saudi banks witness 8 percent surge in Q1 earnings, reaching $4.97 billion

The growth in earnings is driven by 11 percent lending growth and a rising interest rate environment

Saudi Arabia sees $240 million in investments in Q1 2024: Report

E-commerce and retail sector retained its position as the leading industry in Saudi Arabia's venture landscape

Oman Central Bank issues T-bills worth $57.24 million

The interest rate on repurchase operations (repo) with the OCB for these T-bills is 6.00 percent

UAE banking sector’s profitability grows $5.66 billion in Q1 2024: Report

Banking sector's loans and advances grew 3.4 percent, reaching their highest level post-COVID-19

Qatar Central Bank issues $411.9 million in treasury bills, Islamic sukuk

Total bids for Qatar's treasury bills and Islamic Sukuk reached QAR4.4 billion

UAE Islamic banks surpass $195.39 billion in assets, up 13.61 percent year-on-year

The assets of Islamic banks operating in the UAE increased by about $23.41 billion over the past 12 month

GCC debt capital market grows 7 percent to $940 billion in Q1 2024: Fitch

Market to maintain growth this year and the next as it steadily approaches $1 trillion

Qatar’s $2.5 billion green bond issuance draws over $14 billion in bids, 5.6 times oversubscribed

The bonds are divided into two tranches and aim to fund environmentally friendly projects

Saudi Arabia’s banking sector grants $73.48 billion in facilities to SMMEs in 6 years

Medium-sized enterprises took the largest share at 57.5 percent or SAR158.411 billion in March 2024

UAE’s Islamic T-sukuk auction attracts bids worth $2.67 billion, oversubscribed 8.9 times

Strong demand seen from the eight primary dealers for both the 3-year and 5-year tranches of the sukuk

EFG Hermes acquires minority stake in Danish fintech Kenzi Wealth

Partnership offers investors more efficient and unique ways to manage their portfolios

Abu Dhabi’s ADGM sees record 211 percent surge in AUM in Q1 2024

107 asset and fund managers operating in ADGM, currently managing 137 funds

Qatar announces $549.2 million budget surplus for Q1 2024

MoF stated that this surplus was directed towards reducing public debt, and therefore there was no cash surplus

Four Egyptian banks receive positive outlook on improved foreign currency liquidity: Report

These revisions reflect reduced pressures on these banks' capital ratios in the upcoming FY2024/2025

Mubadala’s assets under management rise 9.45 percent to $300 billion in 2023

Company's diverse ventures generated total proceeds of AED99 billion in 2023

Saudi Arabia’s holdings in U.S. treasuries surge to $135.9 billion

This represents a 3.66 percent rise compared to the previous month

Seamless Middle East 2024: Monty Finance ready to roll out MyMonty globally

In-store payments, self-service checkouts and eCommerce solutions to transform global payment sector

Qatar Economic Forum: The Hashgraph Association partners with QFC to launch $50 million digital assets venture studio in Qatar

The studio will focus on investments in Hedera-powered Web3 startups and enterprises building bankable DeFi solutions