Monday 27 January 2020

KPMG is Professional Partner of SAF

KPMG in Saudi Arabia, a leading consultancy firm specialised in audit, tax and advisory, is participating as Professional Partner in the Saudi Accountants Forum (SAF) 2020, organised by the Saudi Organisation for Certified Public Accountants (SOCPA), taking place from January 27 to 29 in Riya


Sharjah Islamic Bank's 2019 net profit up 7pc

Sharjah Islamic Bank (SIB) has recorded a Dh545.5 million ($148.4 million) net profit for 2019, up 7 per cent compared to Dh510.4 million ($139 million) the previous year.   Announcing the results, SIB said its balance sheet reflects strong performance and sound


Samsung Pay expands in the UAE with new ties

Samsung is further enhancing UAE customers’ mobile payment experience by collaborating with First Abu Dhabi Bank (FAB) and Abu Dhabi Islamic Bank (ADIB) to enable access to Samsung Pay, the leading digital payment and digital wallet solution.    The t


Bank ABC named Best Trade Finance Provider in Bahrain

Bank ABC has won the Best Trade Finance Provider in Bahrain award for the year 2020 by the New York based Global Finance Magazine.    An awards ceremony for the winning financial institutions was held on January 15, 2020 during the Bankers Association for F


GFH successfully prices $300m 5-year sukuk

GFH Financial Group has announced that it has successfully priced a $300 million 5-year sukuk (the Certificates).   This is a landmark transaction for GFH, placing it in the international debt capital market. The successful issuance was supported by a ‘B&r


DIFC’s FinTech hive reveals ‘scale up programme’

DIFC’s FinTech Hive revealed the launch of a new funding accelerator programme for FinTech start-ups in the MEASA region. FinTech Hive Scale Up programme benefits scaleups by helping them grow through strategic partnerships and receiving investment resources through the DIFC FinTech Hiv


Only 25pc confident in banks’ digital strategies

Financial services firms are trying to build the firm of the future, but their lack of progress is stoking deep scepticism among investors, according to Oliver Wyman’s annual State of the Financial Services Industry report.    Only 25 per cent of inve


DIB completes acquisition of Noor Bank

Dubai Islamic Bank (DIB) today announced the completion of the acquisition of Noor Bank in a transaction structured through a share swap, after securing necessary approvals from the relevant regulatory authorities.   As part of this agreement, DIB has issued 651


Saudi Arabia eyes $4bn more bond issue this year

Saudi Finance Minister Mohammed Al-Jadaan said the country could borrow another $4 billion more this year and is considering debt in euros, riyals as well as sukuk.    His comments to Bloomberg Television follow this week's successful $5 billon eurobond


Ajman Free Zone signs MoU with Mashreq Bank

Ajman Free Zone has signed a memorandum of understanding (MoU) with Mashreq Bank, the oldest privately-owned bank in the UAE, to facilitate banking services for businesses in the zone. The agreement, spanning two years, will entail any business that chooses to set up in Ajman Fre

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