Wednesday 17 July 2024

DOF, FAB tie-up to boost digital government service in Ajman

Department of Finance in Ajman (DOF) has signed a service agreement with First Abu Dhabi Bank (FAB) to augment the unified digital payment platform for Ajman's government, SADAD Ajman, and its digital wallet.    The aim is to provide comprehensive and a


SICO Capital announces new Board of Directors

SICO Capital, a subsidiary of SICO BSC (c), a Bahrain based Wholesale Bank licensed by Central Bank of Bahrain and a leading provider of asset management, brokerage and investment banking in KSA, has announced its new Board of Directors.    The new board in


Foreigners remain net buyers of GCC stocks: Kamco Invest

Foreign investors, including institutional and retail investors, were net buyers on GCC stock markets during Q2-2024 with net buying at $3.5 billion as compared to $1.5 billion in net buying during Q1-2024.    The trend remained positive since the start of


CBUAE's April gold reserves surge 12pc to $5.5bn

The value of gold reserves of the Central Bank of the UAE (CBUAE) reached AED20.36 billion ($5.54 billion) by the end of April 2024, marking a year-on-year (YoY) growth of around 12% from AED18.147 billion in April 2023, reported Wam. The apex bank, in its latest figures relea


Islamic banks account for 21% of gross domestic credit: CBUAE

Gross credit provided by Islamic banks increased by 1.1% in the first four months of 2024 to AED433.7 billion, constituting more than 21% of aggregate bank loans and financial facilities, according to banking indicators by bank type – conventional banks (CB) and Islamic banks (IB) issued


Abu Dhabi Fund for Development unveils new corporate identity

Abu Dhabi Fund for Development (ADFD) has announced the unveiling of its new corporate identity as the Fund marks its 53rd anniversary. The new identity embodies the core values of the UAE community, laying emphasis on the efforts to assist beneficiary countries in achieving their deve


Adopting sharia standard 62 may disrupt sukuk market, says S&P

The adoption of the new sharia standard 62 could disrupt the sukuk market as soon as next year, according to top ratings agency S&P Global.   The Accounting and Auditing Organization for Islamic Financial Institutions' sharia standard 62 could reduce iss


Tenmou welcomes new board of directors

Bahrain’s first Business Angels Company Tenmou, has unveiled its newly constituted Board of Directors.    The board will be chaired by Suhail Algosaibi, with Isa Al-Dosari serving as Vice Chairman. The board also includes Wassim Abu Hamad, Fahad Algos


Reem Finance partners with Appro Onboarding Solutions

Reem Finance has signed an agreement with Appro Onboarding Solutions to implement Appro's state-of-the-art onboarding journey as a Software as a Service (SaaS).   The collaboration aims to revolutionise the customer onboarding process, ensuring a seamless, e


Saudi CenBank launches government banking services platform

The Saudi Central Bank (SAMA) has introduced 'Naqd,' a government banking services platform.    A vital tool, it enables government agencies to conveniently access their accounts at the central bank and carry out financial transactions securely on a

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