Banking

EPFO auto settlement limit to be increased to Rs 5 lakh: Check key details before advance withdrawal

the financial - 4 April, 2025

The Employees' Provident Fund Organisation (EPFO) is expected to increase the auto-settlement of advance claims (ASAC) limit by fivefold, from Rs 1 lakh to...

Income tax cuts, RBI’s repo rate reduction and more: Here’s how April will impact your wallets

the financial - 4 April, 2025

With a host of financial changes set to take effect in April here's a quick guide to the developments that are bound to affect...

Saudi Arabia sees record $41bn in inbound tourism spending as Vision 2030 projects come to life

the financial - 3 April, 2025

RIYADH: Inbound tourism spending in Saudi Arabia surged to a record SR153.61 billion ($40.95 billion) in 2024, marking a 13.82 percent annual increase, according...

Banking

Ajman Bank nine-month profit before tax spikes 458%

the financial - 24 October, 2024

Ajman Bank on Monday announced that it recorded its highest-ever profit before tax of Dh313 million for the first nine months of 2024, a...

Banking

Saudi’s ProMexEx secures $20mln loan from Riyad Bank

the financial - 14 October, 2024

Saudi Arabian medical devices company ProMedEx has obtained a one-year Islamic credit facility of SAR 74.5 million ($20 million) from Riyad Bank. The facility will...

Banking

Dubai banks lead Middle East and Africa lenders in Q3 market cap growth

the financial - 4 October, 2024

Led by Emirates NBD, most banks in the Middle East and Africa (MEA) posted increases in their market capitalisation in the third quarter, according...

Banking

UAE holds largest share of Arab banking sector assets

the financial - 2 October, 2024

Banks in the UAE hold the largest share of the Arab banking sector’s assets at 24.3 per cent, the Arab Monetary Fund (AMF) revealed...

Banking

Indian rupee faces resistance on dollar buying by state-run banks

the financial - 18 September, 2024

The Indian rupee faced resistance on Tuesday following a rise driven by the U.S. dollar's struggles a day ahead of the Federal Reserve's highly...

Banking

Emirates NBD launches new initiative to boost investment in the UAE equity markets, supporting the growth of the UAE economy

the financial - 16 September, 2024

Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region, has introduced a new initiative enabling customers to...

Banking

SAMA Announces Issuance of Second Release of Open Banking Framework

the financial - 3 September, 2024

The Saudi Central Bank (SAMA), as per a press release, has announced the issuance of the second release under the Open Banking Framework, focused...

Banking

SAMA Permits New FinTech Companies to Launch Open Banking and Peer-to-Peer Lending Platforms

the financial - 3 September, 2024

The Saudi Central Bank (SAMA), as per a press release, permitted three new FinTech startups to test their innovative solutions in SAMA's regulatory sandbox....

Banking

Goldman Sachs removes bankers’ bonus limit

the financial - 3 May, 2024

The investment bank Goldman Sachs has become the first to remove its cap on bankers' bonuses following changes to UK laws introduced last year. The...

Banking

Gross banks’ assets increased to over Dh4.1 trillion at end of January 2024: CBUAE

the financial - 3 April, 2024

The gross banks’ assets, including bankers’ acceptances, increased by 0.8 per cent, from Dh4.075 trillion at the end of December 2023 to Dh4.109 trillion...

Banking

UAE lenders’ total assets hit Dh4.1 trillion

the financial - 21 March, 2024

The UAE banking sector is set for further vibrant growth in 2024 despite global headwinds with the total assets of banks operating in the...

Banking

CBUAE maintains Base Rate at 5.40%

the financial - 21 March, 2024

The Central Bank of the UAE (CBUAE) has decided to maintain the Base Rate applicable to the Overnight Deposit Facility (ODF) without change at...

Banking

Dubai: Will customers pay more after 20% new tax on foreign banks?

the financial - 20 March, 2024

Analysts hold differing opinions when assessing the impact of the recent announcement of a 20 per cent tax on foreign banks' income in Dubai. Some argue...

Banking

Mastercard, First Abu Dhabi Bank ink exclusive global partnership

the financial - 8 March, 2024

Mastercard and First Abu Dhabi Bank (FAB) announced an exclusive long-term global partnership, building on their long-standing collaboration, in the Eastern Europe, Middle East,...