One of the most notable innovations in fintech is the advent of blockchain technology and cryptocurrencies. Originally created to support Bitcoin, blockchain’s decentralised ledger system has found applications across various sectors. Financial…
Tag: financial
Al Ansari Financial Services sees profit drop for 9-month 2024 over 'significant challenges'
“The past nine months have posed significant challenges for our industry, with economic and geopolitical pressures, heightened competition, and introduction of corporate tax, coupled with increased operational and manpower costs, impacting our…
Dubai regulator DFSA fines Vedas Marketing for unauthorized financial promotions on Multibank Group
The Multibank Group offers trading platforms, and the DFSA has ‘made no allegations of wrongdoing against the Multibank Group itself in the decision notice’. In early June, Vedas Marketing challenged the conclusions…
United Electronics Company (eXtra) announces to list a 30 per cent stake in its financial unit
Dubai: United Electronics Company (eXtra) announces to list a 30 per cent stake in its financial unit, United International Holding Company (UIHC), on the Saudi Exchange (Tadawul). UIHC oversees Tasheel Finance, which…
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…
Al Ansari Financial Services to pay Dh157.5 million as H1-24 interim dividend
“This dividend reflects our robust financial performance and our commitment to returning value to our shareholders,” said Mohammad Ali Al Ansari, Chairman. “We are confident in our ability to continue to deliver sustainable…
CBUAE imposes financial sanction on UAE bank, slaps Dh5 million fine
The CBUAE, through its supervisory and regulatory mandates, works to ensure that all banks, their owners and staff abide by the UAE laws, regulations and standards adopted by the CBUAE to safeguard…
Qatar announces AI rules for financial institutions
The QCB’s initiative underscores its commitment to advancing and regulating Qatar’s financial sector. “The introduction of AI technologies represents a pivotal opportunity for financial institutions in Qatar. By harnessing AI, these institutions…
New financial crisis: SpiceJet sends 150 cabin crew on leave without pay for three months
SpiceJet said last month that it’s seeking to raise as much as 30 billion rupees ($358 million) via a share sale but hasn’t announced any time frame. The beleagured carrier reported a…
Abu Dhabi's Taqa joint venture project in Saudi Arabia reaches financial closing
Dubai: The Abu Dhabi utility company Taqa has done the financial closing for a new steam and electricity cogeneration plant in Saudi Arabia. Taqa’s partner in the project – located in Saudi Arabia’s…