Tuesday 25 July 2017

SRB launches same day Sharia review service

Shariyah Review Bureau (SRB), one of the world's leading Sharia Advisory firms, has launched of the Islamic industry's fastest Sharia review and certification service. Efficient both in terms of time and cost, it ensures that the financial institutions urgent product and


Lulu Exchange acquires Al Falah

Lulu Exchange, a leading foreign exchange and remittance company, has entered into an agreement to acquire 100 per cent ownership of Al Falah Exchange Company in the UAE.   This is a first of its kind large scale acquisition in the UAE, making Lulu Exchange the second largest


Barzan project to raise Qatar gas production

Qatar’s oil and gas sectors, suffering from the fall in energy prices, should help support growth in 2017 with the start of production at the Barzan facility, which would increase liquid gas production by 21 per cent, a report said. Meanwhile, economy in Qatar is expected t


UAE surplus reserves surge to top $11.6bn in June

Surplus reserves at UAE banks and other financial institutions surged to Dh42.8 billion ($11.6 billion) by the end of June, a growth of 77.6 per cent, or Dh18.7 billion, from Dh24.1 billion in the first month of the year 2017, according to UAE Central Bank statistics. The figures


Dubai economy will continue to expand: Sheikh Ahmed

Dubai’s economy is expected to expand further over the next two years after having outperformed global economic growth and defying downward trends that prevailed worldwide in 2016, said Sheikh Ahmed bin Saeed Al Maktoum, Second Deputy Chairman of the Executive Council and Chairman of Econ


Takaud posts solid H1 growth, nets good returns

Takaud, a specialist provider of savings, investment and pension solutions for the Middle East and North Africa (Mena) region, has registered solid growth during the first six months with a 9.9 per cent increase in the mid-year returns for its investors. Announcing the results, T


Ibdar Bank successfully exits fourth aviation deal

Bahrain-based wholesale Islamic Investment bank, Ibdar Bank, has announced the successful exit of three Q400 aircraft on lease to Falcon Aviation, marking the fourth successful aviation exit by the Bank within the last two years. Commenting on the successful deal, CEO of Ibdar Ba


Bank ABC posts $102m H1 net profit

Bank ABC (Arab Banking Corporation) today announced that its consolidated net profit, attributable to the shareholders of the parent, for the first half of the year 2017 was $102 million. These results compare positively compared to the net profit of $101 million reported for the same


Emirates NBD to offer clearing services to Delma Brokerage

Emirates NBD, a leading bank in the region, today announced the signing of an agreement to offer clearing services to UAE-based Delma Brokerage, making the brokerage firm the first non-affiliate trading member to sign with the bank. Emirates NBD is currently the first UAE-based f


DubaiPay generates over $3.2bn in one year

Smart Dubai’s DubaiPay portal for payment online and via smartphones registered a 15 per cent increase in the amounts collected between June 1, 2016 and June 1, 2017, generating Dh12 billion ($3.26 billion). The more than 10 million transactions marked a surge of 13 per cen

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