Emirates Islamic concludes debut USD 500 million financing facility
Emirates Islamic announced the successful conclusion of its debut USD 500 million syndicated Financing Facility. The landmark three-year term financing facility is the first of its kind raised by a...
View ArticleADNIC completes acquisition of 51% stake in Allianz Saudi Arabia
Abu Dhabi National Insurance Company (ADNIC) has completed the acquisition of a 51% stake in Allianz Saudi Fransi Cooperative Insurance Company (Allianz Saudi Fransi) in Saudi Arabia. The acquisition...
View ArticleSnowdrop, PwC Middle East partner to advance digital banking
London-based Snowdrop Solutions has partnered with PwC Middle East to introduce innovative transaction enrichment API for banks and payment providers in the Middle East. The collaboration offers banks...
View ArticleUAE’s du unveils digital financial solution du Pay
UAE’s du, also known as Emirates Integrated Telecommunications Company (EITC), has launched du Pay, marking a significant milestone in the country’s transition toward a cashless economy and aligning...
View ArticleADCB’s brand value surges to $2.7 billion in 2023
Abu Dhabi Commercial Bank’s (ADCB) brand value surged by 8.7% in $2.7 billion (AED 10.5 billion) in 2023, according to Brand Finance’s 2024 Banking 500 report. The brand valuation consultancy firm said...
View ArticleSignificant fluctuations in online payment transactions across various...
In the aftermath of recent severe weather conditions the UAE witnessed, global payments solution provider Checkout.com has conducted a comprehensive analysis revealing significant shifts in transaction...
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Dubai Islamic Bank Announces Group Financial Results for First Quarter of 2024
Dubai Islamic Bank announced its results for the period ending March 31, 2024. Q1 2024 Highlights: Net Profit (Pre-Tax) registered AED 1,850 million up 22% YoY due to higher total income and lower...
View ArticleADIB signs an agreement with Astra Tech
Abu Dhabi Islamic Bank (ADIB) has signed a partnership agreement with Astra Tech. The deal makes ADIB the first bank to provide users across the UAE access to financial services on the Botim Ultra app....
View ArticleArab Monetary Fund sees growth potential in Takaful market
The Arab Monetary Fund (AMF) said that the Takaful sector, a Shariah-compliant form of insurance, remains a small player within Islamic finance, accounting for less than 2% of the total market. Though...
View ArticleEmirates NBD’s Q1 2024 profit surges 67% to AED 6.7 billion
Emirates NBD’s profit surged 67% to a record AED 6.7 billion in the first quarter of 2024 compared to the previous quarter and up a strong 12% year-on-year propelled by regional growth, increased...
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