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banking

  • ‘aafaq Islamic Finance’ enters into new partnership with ‘Emirates College of Technology’ to promote Islamic banking & finance

    aafaq Islamic Finance, a leading provider of Islamic finance products and services in the UAE, has recently entered into a strategic collaborative agreement with the academic institution ‘Emirates College of Technology’ (ECT). This is the latest key partnership in aafaq’s bid to promote Islamic banking and finance and contribute to making Dubai the capital of the global Islamic economy through investments in various economic sectors.

  • ‘International Innovative Platform for Islamic Economy Products 2015’ to kick off on Sunday

    The Dubai Airport Freezone Authority (DAFZA) and the International Centre of Islamic Economy (ICIE) have finished preparations for the kickoff of the ‘International Innovative Platform for Islamic Economy Products 2015’ (IIPIEP 2015) which will take place from November 22 to 23, 2015. The event is supported by the platform’s strategic partner Dubai Islamic Bank (DIB), and a number of prominent sponsors and are presented by National Commercial Bank (NCB), National Bonds Corporation, and the Saudi diversified manufacturing company SABIC. The two-day event will be held in conjunction with UAE Innovation Week that comes as a celebration of innovation in the UAE, in line with the directives of the President His Highness Sheikh Khalifa bin Zayed Al Nahyan to mark 2015 as the “Year of Innovation.” The UAE Innovation Week which was launched by H.H. Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, will be organised from 22-28 November, and will serve as a definitive platform and destination for innovation and innovators in the region.

  • “aafaq Center for Research in Islamic Economy” to launch first Islamic Finance Encyclopedia & Directory in Arabic

    In line with the vision of H.H. Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to make Dubai the Capital of the Islamic Economy, the “aafaq Center for Research in Islamic Economy” will launch the first ‘Islamic Finance Encyclopedia’ and ‘Islamic Finance Directory’ in Arabic, at the 2015 Global Islamic Economic Summit taking place from October 5 to 6, 2015 at Madinat Jumeirah, Dubai.

  • “aafaq Islamic Finance” signs strategic MoU with University of Bolton’s Centre for Islamic Finance

    Institute of Finance & Management subsidiary of aafaq Islamic Finance, a leading provider of Islamic finance products and services in the UAE, has recently signed a Memorandum of Understanding (MoU) with the University of Bolton’s Centre for Islamic Finance, an initiative designed to facilitate research and promote the understanding of Islamic Finance through lectures, conferences and a joint professional certificate in Islamic Banking. The document was signed in London.

  • “aafaq Islamic Finance” wins ‘Best Islamic Finance Company’ category at ‘Banker Middle East Industry Awards 2015’

    aafaq Islamic Finance, a leading provider of Islamic finance products and services in the UAE, has been named as the ‘Best Islamic Finance Company’ during this year’s edition of the prestigious Banker Middle East Industry Awards, the region’s leading financial event, which held its awarding ceremonies in a special gala dinner recently at the Emirates Towers Hotel in Dubai. The award was given to aafaq Islamic Finance in recognition of its significant contributions and achievements in the field of Islamic Finance, especially for its continuing efforts to provide the region with dynamic and innovative Islamic banking and financial solutions that are in compliance with Islamic Shari’a law.

  • “Back to normal; really?”

    Global inflation is about to spike due to higher worldwide commodity prices, competitive devaluations (imported inflation) and, to a lesser extent, increasing property prices.

  • “Misr Um El Donia” Account launched in UAE

    Mashreq Bank - the UAE’s leading financial institution announces the latest addition to the banks’ roster of successful offerings - “Misr Um El Donia”.     “Misr Um El Donia” is a bouquet of benefits and services that enables Egyptian customers living in the UAE to save and transfer money to friends and family back home with convenience.

  • aafaq Islamic Finance wins three honors at Global Banking & Finance Review Awards 2015

    aafaq Islamic Finance, a leading UAE-based Shari'a compliant financial institution, bagged three major honors at the 2015 Annual Awards held recently by leading online portal Global Banking & Finance Review in Toronto, Canada.

  • AbdulAziz Al Ghurair's, Chairman of UBF and CEO OF Mashreq, Statement on National Day

    “As the nation marks the 44th anniversary of its founding, we witness another year of success and stability in the UAE. Each year, this time we recall the wise leadership of His Highness Sheikh Zayed bin Sultan Al Nahyan who together with Sheikh Rashid bin Saeed Al Maktoum the then ruler of Dubai, and the leaders of five other emirates to form the union we know today as the United Arab Emirates.

  • ADCB partners with Xpress Money to offer international Account Credit services to 14 countries from the UAE

    Xpress Money, one of the most dependable money transfer brands in the world, has partnered with ADCB - one of UAE’s biggest banks - to offer international remittance services to ADCB customers through the bank’s existing mobile banking app (available on iOS, Android and Blackberry*). The partnership provides exclusive benefits to ADCB customers to make hassle-free international money transfers through the app by simply tapping on 'Transfer Money' and selecting 'Xpress Money Global Money Transfer' as their preferred channel. Once the transfer has been requested by an ADCB customer through the mobile app, the Xpress Money platform takes over to deliver the transaction, and credits the target bank account.

  • AFFILIATE OF SWISS PRIVATE BANK J. SAFRA SARASIN LOSES APPEAL, FAILS TO PAY THE SUM OF $35 MILLION AND IS NOW IN LIQUIDATION

    On Monday 2 May 2016 in the DIFC Courts, Sarasin Alpen (ME) Ltd, the Dubai based affiliate of the Swiss Bank J Safra Sarasin Ltd went into liquidation as a result of its failure to pay its share of the record judgment awarded against it by the DIFC Courts last month.

  • AFS FinTech Forum Highlights Need for Innovative Banking Solutions

    Bankers, regulators and FinTech experts from around the world had a very successful meeting at the 1st AFS Middle East and Africa FinTech Forum, held in Bahrain under the patronage of the Central Bank of Bahrain and supported by Bank ABC and Bahrain Economic Development Board. The event was also sponsored by Visa, GBM and ai Corp.

  • Agricultural Bank of China Dubai Branch Starts Operation

    Agricultural Bank of China (ABC) Dubai Branch holds a grand ceremony in celebration of its opening and designation as the RMB clearing bank in the UAE. The Dubai Branch is ABC’s first RMB clearing bank designated by the People’s Bank of China and its second branch in the Middle East after the DIFC Branch. The significant role of the new branch is to improve ABC’s global clearing network, contribute to internationalization of RMB, and support the Belt and Road initiative. The opening of Dubai Branch is one solid step forward of the Bank’s international operation.

  • AHLI UNITED BANK B.S.C. REPORTS RECORD H1/2016 PROFIT OF US$ 301.2 MILLION ATTRIBUTABLE TO THE SHAREHOLDERS OF THE BANK

    Ahli United Bank B.S.C. (AUB) reported a record net profit of US$ 301.2 million attributable to its equity shareholders for the half year ended 30 June 2016. The net profit reflected an increase of 8.2% in H1/2016 as compared to the net profit figure of US$ 278.4 million achieved in H1/2015. The Q2/2016 net profit of US$ 146.6 million represents a 11.7% improvement over the Q2/2015 reported profit of US$ 131.2 million. The Basic Earnings per Share in H1/2016 were US 4.2 cents, as compared to US 4.1 cents in H1/2015.

  • Ajman Sewerage signs Direct Debit deal with Mashreq Bank

    Payment of wastewater bills by property owners and residents in Ajman has now been made easier after Ajman Sewerage Private Company Limited (ASPCL) and Mashreq Bank penned a Direct Debit deal, giving all ASPCL customers a convenient option to remotely offset their monthly bills.

  • Al Falak brings American technologies into the Saudi market to serve banking sector

    Al Falak,Electronic Equipment & Supplies Co., a leading IT and communications solution provider in the Saudi market signed an agreement with a US based, CorreLog, the leader in multi-platform IT security event management, offering software systems and automation solutions to the financial - banking sector, throughCorreLog Server application via subscription delivered from the cloud.

  • Al Falak to now offer its services to Saudi Arabia’s banking and finance segment

    Al Falak Electronic Equipment & Supplies Company, a leading IT and communications solution provider, has revealed its move of offering its ICT-based services to the Kingdom of Saudi Arabia’s (KSA) banking and finance segment. The company is expected to leverage its diverse portfolio of services across banking institutions operating in the Kingdom. Services to be offered include the installation of integrated projects covering audio, visual and data systems; consultancy on ICT-related issues; implementation of LAN, WAN, WLAN and Ethernet solutions; IPTV and connection services and integrated security systems to help protect the bank’s internal networks.

  • Al Hamra Real Estate seals deal with Abu Dhabi Commercial Bank

    Al Hamra Real Estate Development (AHRED), the leading and largest developer in Ras Al Khaimah, has unveiled details of a new partnership with Abu Dhabi Commercial Bank (ADCB), a first for the property developer, to provide mortgage facilities for its expanding portfolio of projects.

  • Al Hilal Bank announces resignation of Group CEO

    Al Hilal Bank, the progressive Abu Dhabi - headquartered Islamic Bank, has announced the resignation of Mr. Mohamed Jamil Berro as the CEO, a position he has held since the bank’s establishment in 2008. Mr. Berro explained that his resignation is due to personal reasons. The Board of Directors expressed their appreciation for Berro, commending his vital role in raising the bar of the bank’s performance, services and products throughout his tenure.

  • Al Hilal Bank announces the appointment of a new board of directors

    Al Hilal Bank announced the appointment of a new board of directors under the Chairmanship of H.E. Mohamed Abdullah Al Rumaithi, and the election of H.E. Mohamed Ali Al Dhaheri as Vice Chairman to the Board of Al Hilal Bank.