Dubai: The Saudi Export-Import Bank (Saudi EXIM) signed two memoranda of understanding with Absa Bank Limited and Standard Bank of South Africa Limited during the Saudi-South African Business Forum held in Johannesburg,…
Tag: banks
Scam alert: UAE banks getting bogus financial statements using names of leading audit firms
Dubai: Banks in the UAE have been getting bogus financial statements from some of their small business clients using the letterheads of reputed audit firms, according to a senior industry source. The…
Major central banks now aligned as Powell signals Fed cuts ahead
Washington: Officials from three of the world’s major central banks on Friday signaled they are firmly on course to lower “- or continue lowering “- interest rates in the coming months, marking…
Leading UAE banks launch short-term loans for blue-collar workers' emergency needs
Dubai: UAE banks are gradually entering the micro-finance space by offering strictly short-term loans to blue-collar workers who would typically not feature on their loan books. The demand for such loans already…
Are banks in the UAE, GCC building better appetite for expanding regionally?
Dubai: Gulf Cooperation Council (GCC) banks are showing a stronger appetite to grow their presence in major regional markets, particularly Turkiye, Egypt and India, attracted by improving economic conditions and better growth…
Saudi PIF enlists banks for Nupco’s IPO
Dubai: Saudi Arabia’s Public Investment Fund (PIF) enlists banks to oversee the initial public offering of its fully owned subsidiary, the National Unified Procurement Company (Nupco), according to a report from Bloomberg….
Islamic Banks account for 21% of gross domestic credit: Central Bank
Abu Dhabi: Gross credit provided by Islamic banks in the UAE increased by 1.1 per cent in the first four months of 2024 to Dh433.7 billion, constituting more than 21 per cent…
Oman’s Islamic banks report 13.2 per cent asset growth
During the same period, Shariah-compliant units extended financing totalling $16.3 billion (Dh59.8 bilion), reflecting a 12 per cent annual increase, as reported by the Central Bank of Oman. Deposits in these banks…
As demand eases, UAE car dealers, banks woo buyers with '0% interest' finance – and gold too
But most car buyers will be looking closely at the auto finance rates available in the market. All hopes of a cut in interest rates by the US Federal Reserve in the…
Best way to remit now, save money: Banks or exchanges, online or mobile apps?
Dubai: For many of us, sending money abroad or receiving payments from a family member or a business partner in another country is relatively common. Whether you’re an expat, a freelancer working…