First Abu Dhabi Bank (FAB) has reported its financial results for the first half period ended 30th June 2021. First half 2021 Group net profit was Dhs5.4 billion, an 11 per cent increase year-on-year. The Group recorded a net profit of Dhs2.9 billion
The UAE’s Non-performing debt Relief Fund announced that 20 banks and financial institutions across the emirates waived the debts of 4,511 Emiratis, with a total value of more than Dhs1,157,388,000 billion.
Coinciding with the launch of Expo 2020 Dubai, the largest global event and the first-of-its-kind in the Middle East, the Dubai real estate market continued to record new achievements and further growth in the field of real estate sales transactions.
Ajman Bank, one of the Shariah compliant banks in the UAE has signed a memorandum of understanding with the Emirates Development Bank (EDB), a key financial enabler of the country’s economic diversification and industrial transformation agenda, to
Shareholders of Sharjah Islamic Bank (SIB) have approved increasing the percentage of foreign ownership of the bank’s shares to 40 per cent, at the Annual General Meeting that took place on Sunday headed by Abdul Rahman Al Owais, Chairman of the
Shareholders of Abu Dhabi Islamic Bank (ADIB) have elected a new board of directors at the Annual General Meeting that took place recently. They also approved the distribution of cash dividends of 31.1155 fils per share, which represents 48.5 per cent
Masdar City and Mashreq Bank have signed a Memorandum of Understanding (MoU) to provide financial services to Small and Medium-sized Enterprises (SMEs) and start-ups based in the City. This will include easy access to NeoBiz, the bank’s first digital
The CRS is a global methodology for the automatic exchange of financial accounts and tax-related information with other financial regulatory organisations across the world through secure channels.
In its report on the Monetary & Banking Developments for May 2022, CBUAE clarified that the gross credit grew by 2.6 per cent rising from Dhs1,817.4 billion at the end of April 2022 to Dhs1,865.5 billion at the end of May 2022.
The Central Bank of the UAE (CBUAE) has developed an enhanced framework to supervise banks’ exposures to the real estate sector. The new standards cover all types of on-balance-sheet loans and investments, and all off-balance-sheet exposures