Sunday 1 February 2015
 
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Emirates Islamic unveils next generation ATMs

Emirates Islamic, a leading Islamic financial institution in the UAE, has unveiled its next generation automated teller machine, equipped with a touch-screen interface and a whole new customer experience. The redesign of the ATMs is in line with the bank’s strategy to drive

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Moroccan bank plans big Islamic finance push

Morocco's Attijariwafa Bank plans to build its own Islamic finance business rather than tying up with a foreign partner, it said yesterday, as the north African country opens up to Sharia-compliant banking. Morocco's parliament gave final approval in November to an Islami

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MasterCard Q4 profit jumps 12pc to $858bn

MasterCard , the world's No. 2 debit and credit card company, said worldwide purchase volume increased 12.1 per cent to $858 billion in local currency terms during the fourth quarter of 2014, marking a better-than-expected profit for the holiday shopping season. The company,

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Travelex, UAE Exchange to merge and list in Abu Dhabi

Foreign currency exchange firm Travelex will be merged with money transfer company UAE Exchange and listed in Abu Dhabi by early on in 2017, new owner Bavaguthu Raghuram Shetty said. The Indian-born billionaire along with Abu Dhabi private equity house Centurion Investments agree

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BBK eyes bond issue to refinance $500m debt

Bank of Bahrain and Kuwait (BBK) is planning its first debt issue since 2010 to refinance an existing $500 million bond maturing in October, its chief executive has said. The offering by Bahrain's fourth-largest bank by assets will have a lifespan of between five and seven ye

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RBS to exit corporate debt, DCM business in MEA

Royal Bank of Scotland (RBS) plans to sell or close its corporate debt and debt capital markets business in the Middle East and Africa, the latest pullback by the state-controlled lender from emerging markets to focus on its domestic business. The lender, 81-per cent owned by the

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Bahraini students develop bank security system

A voice-activated security system that automatically alerts the police when would-be bank robbers attack, has been developed by two Bahrain University (UoB) students. The system, devised by Bahrainis Mohammed Basiouni, 22, and Kamal Mohammed, 23, uses a voice recognition chip to

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Egypt’s pound weakens to new low

Egypt's pound weakened to 7.49 per dollar, from 7.46 at yesterday's sale, at a central bank auction on Thursday, the weakest level it has been allowed to reach since auctions began in December 2012. The bank offered $40 million and sold $38.4 million at a cut-off price of

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Western Union signs Amr Diab as brand ambassador

The Western Union Company, a global leader in financial services, has announced its association with one of the Arab world’s most popular pop stars – Amr Diab, as its brand ambassador. As an Arab star with a strong international following, Amr Diab will now represent

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UAE gold sector records substantial growth during DSF

The UAE gold sector has shown a positive growth at the start of the year with reports indicating a 25-30 per cent increase in gold sales within the Emirate, following an overwhelming response received by the shoppers this DSF. The Dubai Gold and Jewellery Group (DGJG) saw a tremendous

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