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The $5 billion deposit was made by Saudi Arabia before Türkiye's presidential and parliamentary elections last year
The interest rate on the bills' repurchase operations with the Oman central bank is 6 percent
Foreign currency inflows into the local market have jumped by about 200 percent
This includes developing the exchange market, facilitating bilateral trade and direct investment, and remittance settlement
New partnership will let Indian tourists use their preferred payment methods at retail, attractions, leisure, duty-free, and hotels
Emirates Islamic's total income saw a notable 15 percent increase to AED2.7 billion while operating profits surged by 40 percent
Elhedery joined HSBC in 2005 and became group CFO in 2023
Central banks also sign MoU to establish a framework for the use of local currencies in settling cross-border transactions
The value of the 28-day maturity treasury bills allocated was $38.97 million
Investments by Islamic and commercial banks grew by 9.8 percent and 3.7 percent, respectively
The value of transfers executed through the system increased by over 20 percent year-on-year
This initiative is part of SAMA's strategy to provide banking services to government agencies and support digital development
BNPL services are outpacing credit cards in the region
The Central Bank has added more than AED176 billion to its foreign assets within a year
Kingdom accounts for 54 percent of the region's VC investments, a significant increase from its 38 percent share in 2023
MENA startups raised $116 million in June 2024, bringing H1 total to $882 million
Under the agreement, CBD and Visa will collaborate on establishing a ‘Center of Excellence’
Net open foreign currency positions rose to 5.7 percent of banks' total capital base in March 2024
Cumulatively, banks recorded a total profit of $9.27 billion in the first five months of 2024
Kuwait needs economic reforms for fiscal sustainability and diversifying non-oil revenues, says Minister
The investment includes $100 million in five-year convertible debentures and $400 million in a five-year loan
The DFSA recorded its highest number of authorizations, licensing over 100 new firms in 2022-2023
The $400 million MASAR Program aims to equip Jordanian youth with skills for the labor market and economic transformation
Sovereign wealth funds globally invested $64.2 billion in 135 deals while PPFs spent $31.9 billion on 101 deals in H1 2024
