Monday 27 September 2021

Covid-induced business measures ‘back long-term growth’

Strategic business measures introduced to deal with the Covid-19 pandemic should be retained even beyond the crisis, said a senior corporate banking executive in the UAE. “Greater experience in crisis management, higher flexibility in terms of remote working and improved wo


CDPQ to acquire stake in Investcorp portfolio company

Investcorp said that Caisse de dépôt et placement du Québec (CDPQ), a global investment group, will acquire a significant stake in Investcorp’s portfolio company, ICR, a global leader in strategic communications and advisory services. CDPQ will join Inve


Multiply Group invests further $15m in Firefly

Abu Dhabi-based Multiply Group, a subsidiary of International Holdings Company (IHC), has invested an additional AED55 million ($15 million) in Firefly to bring dynamic advertising in taxis and rideshare vehicles to the Mena region. Firefly, a San Francisco Bay Area-based company


Islamic banks in GCC ‘focusing on low-risk retail finance’

Islamic banks in GCC countries and South and Southeast Asia are focusing on low-risk retail finance, which will help protect their asset quality amid an uneven economic recovery across these regions, said Moody’s Investors Service in a new report. "Regulatory forbearan


BBK provides $132.6m financial facilities to EWA

BBK, a leading retail and commercial bank in Bahrain, announced that it has issued a BD50 million ($132.67 million) loan to the Electricity and Water Authority (EWA).   EWA will utilise this loan to support the expansion and enhancement of present networks and t


Bahrain economy returns to pre-pandemic levels

Bahrain's economic indicators show that the performance of various sectors in August this year was comparable to the levels recorded during 2019 – before the outbreak of the pandemic, Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa has said. 


Arab Monetary Fund issues the second edition of Fintech glossary

The Arab Monetary Fund, within the activities of the Arab Regional Fintech Working Group, has issued the second edition of the "Fintech Glossary”.   This has been done within the framework of the Arab Monetary Fund’s eagerness to enhance the dig


Dubai to create integrated economic zones authority

Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has issued Law No. (16) of 2021 creating the Dubai Integrated Economic Zones Authority, an independent legal entity with financial and autonomy. According to the new Law, Dubai Airport Free


EDB partners with YAP for banking app for SMEs

Emirates Development Bank (EDB) is launching the EDB Business Banking app in partnership with YAP, a leading UAE-based fintech, to support small and medium-sized enterprises (SMEs) operating in the UAE. EDB has earmarked AED30 billion ($8.16 billion) to extend financial and non-f


AFS, NymCard partnership to help scale MEA's fintech ecosystem

NymCard, an MEA-bsed BaaS provider and modern card issuing and processing platform, has signed an agreement with Arab Financial Services (AFS) to support the region’s fintech ecosystem by enhancing digital adoption across the Middle East and Africa region through the AFS payment platfor

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