Banking & Finance
Deposits reached AED286.67 billion ($78 billion) at the end of March 2024
This partnership will contribute to stimulating Egypt’s private sector participation in diverse projects
The Fed had set the benchmark policy rate in the 5.25-5.50 percent range last July
This represents a significant increase compared to the previous fiscal year, when the surplus was only $2.43 billion
Kuwait's construction sector to grow to $13.94 billion in 2024
The paid-up share capital for the finance companies sector increased by 6 percent to reach $4.13 billion
Sharjah also featured in the Top 15 rankings for both the Knowledge and Performance categories
Oman's public debt to GDP declines from 36.5 percent by the end of 2023 to 33.9 percent during H1 of 2024
Commercial banks' credit facilities rise 4.9 percent to QAR1.31 trillion in April
Payment solution offers flexible repayment plans spanning up to 60 months with no down payment
Great strides have been made in advancing digital transformation and building a robust payment ecosystem across the region
Crypto assets are available 24/7, have near-zero costs and are fully programmable
UAE Central Bank Law and Commercial Transactions Law are key legislative instruments
More than half of survey respondents believe that instalments would help manage finances
Oman's addition brings AFAQ's total number of participant banks from the GCC region to 67
Of the 19 offers it received, the central bank accepted only 17 with a value of $500.6 million
Bahrain's total outstanding value of government treasury bills stands at $5.6 billion
Board meeting also approves a series of policies that aim to support the banking and insurance sectors
Total foreign liabilities held by the CBE and commercial banks in April reached EGP32.523 trillion
Total value of bids for the Treasury bills and Islamic bonds reached QAR 11 billion
Open Finance is beneficial for both fintechs and their customers
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
