Sunday 29 March 2020

Sharjah lists $200m sukuk on Nasdaq Dubai

The Emirate of Sharjah has listed a $200 million Sukuk on Nasdaq Dubai, bringing the total value of Sukuk listed in Dubai to $67.06 billion, strengthening Dubai’s status as one of the largest Sukuk listing centres in the world by value. Nasdaq Dubai’s new Sukuk listin


ADGM to launch regulated crypto trading in Q2

Abu Dhabi Global Market (ADGM) is in the process of finalising the launch of regulated digital asset trading in the second quarter (Q2) of this year. Amongst the first companies to be issued with an in-principle approval (IPA) is DEX. Founder and CEO, Leon Smith, says it is not o


UAE's rate cut will hit banks' profitability: Moody's

The UAE’s recent sizeable cut in interest rate will reduce banks' net interest margins (NIMs) because gross yields earned on loans will decline more than the funding cost paid on deposits, says ratings firm Moody’s in a release.    The rate


Dubai banks announce relief package for customers

Dubai's banks have come together to offer a comprehensive relief package to help their customers ease financial pressures in the current economic environment caused by the coronavirus (COVID-19) outbreak.   The measures announced by the banks seek to support


Abu Dhabi Exchange to manage e-voting for companies AGMs

Abu Dhabi Securities Exchange (ADX) has announced that it will be managing remote e-voting for Annual General Meetings (AGMs) of companies listed on the Exchange free of charge.   This ability is facilitated through an attribute of Sahmi, ADX’s integrated


Saudi Arabia unveils $32bn stimulus package

Saudi Arabia has announced a massive SR120 billion ($31.93 billion) package to decisively address the unprecedented economic impact and consequences of the coronavirus (COVID-19) pandemic.   The Minister of Finance, Acting Minister of Economy and Planning, Moham


Bahrain defers loan payments for citizens by 6 months

Bahrain's central bank has announced that payment of loan installments are to be delayed by six months for Bahraini nationals.   “All retails banks, finance and micro-finance firms have to grant citizens a six-month waiver without fees, interest-on-int


Oman cbank announces $20bn stimulus package

The Central Bank of Oman has announced a comprehensive stimulus package to inject additional liquidity of more than RO8 billion ($20.78 billion) to the sultanate's economy.    It has also issued elaborate instructions to all banks, exchange companies an


National Bank of Fujairah approves $50m cash dividends

The National Bank of Fujairah (NBF) has approved the distribution of profits of 13.5 per cent of paid-up capital in the form of 10 per cent cash dividends worth Dh185 million ($50.3 million) and bonus shares of 3.5 per cent of paid-up capital worth Dh64.8 million ($17.6 million).


Mashreq appoints new group head of operations

Mashreq, one of the leading financial institutions in the UAE, has appointed Mark Edwards as its new Group Head of Operations.    With over 25 years of experience, Edwards is a seasoned business operations and banking veteran with international and regional

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