Banking & Finance

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

EDB and ADIB partner to boost SME financing in the UAE

 EDB will provide guarantees of up to 50 percent for the financing offered to SMEs by ADIB

Dubai’s EGA finalizes acquisition of majority stake in U.S. recycling company

This acquisition expands EGA's operations across four continents, from bauxite mining to aluminium recycling 

Abu Dhabi SME Champions Program awards $24.1 million in procurement deals within first six months of 2023 launch

During its pilot phase, the program awarded 54 contracts to 49 SMEs, averaging AED1.8 million each 

Abu Dhabi reports new record GDP of $80.86 billion, 4.1 percent increase in Q2 2024

This growth is driven by the development of non-oil sectors, showcasing the emirate's economic diversification efforts

Oman Central Bank issues treasury bills worth $117 million

Interest rate on repurchase operations with the central bank (repo) on these bills is 5.50 percent

UAE holds largest share of Arab banking sector’s assets at 24.3 percent: AMF

UAE, Saudi Arabia and Qatar account for 58.9 percent of total assets in the Arab banking sector

Saudi Arabia announces pre-budget statement for FY 2025 with expenditures estimated at $346.95 billion, revenues at $319.68 billion

The Minister of Finance is confident in positive Saudi economic growth in 2025 and beyond, driven by reforms under Vision 2030

aiBANK announces major brand name, identity change to Bank NXT

Strategic move aims to usher in a new era of growth, digital innovation and customer-centric solutions

UAE commits $30 million to boost Ghana’s biodiversity and climate initiatives

The framework outlines six key investment areas, including biodiversity corridors, reforestation

S&P raises Oman’s credit rating to ‘BBB-’ with stable outlook

The Omani government, along with many state-owned enterprises (SOEs), is continuing to deleverage its balance sheet

Mastercard, Amazon Payment Services to enable digital payment acceptance across Middle East and Africa

The payment service provider will use Mastercard Gateway for quick, seamless, and secure transactions in the region

UAE President directs $100 million in urgent relief for Lebanon

This initiative showcases the UAE's ongoing commitment to supporting Lebanon during its hardships