The Dubai bank will be treated on par with local banks after establishing a WOS; It will be allowed to list on Indian stock markets, and acquire other companies
Financial Services
Latest in Financial Services
Al Ansari Exchange
Al Ansari Exchange renews strategic partnership with Visa
Promises to unlock new opportunities and deliver significant value across the financial services ecosystem and accelerate the future of digital payments
DFSA
DFSA-regulated entities jump 31% in 2024 to go past the 900 mark
The DFSA authorised 946 individuals and 17 Designated Non-Financial Business or Professional corporate services providers during the year
Al Ansari Financial Services
Al Ansari’s CashTrans partners with Sharjah Islamic Bank to enhance cash management services
Collaboration aims to streamline cash handling, boost security, and optimise cash flow for Sharjah Islamic Bank and its customers
Artificial intelligence
DFSA co-leads report on AI’s impact in financial services
The report, prepared alongside UK’s FCA, provides key insights on the use of consumer-facing AI in global financial services
financial institutions
RAKBANK posts record over AED 2bn profits in 2024
For Q4’24, the profit after tax was AED 386M, and the profit before tax was AED 424M, representing declines of 10.4% and 4.6%, respectively
CBUAE
Paymob secures UAE central bank license for retail payment services
The regulatory nod also enables the company to provide merchants with its full suite of omni-channel solutions
Al Ansari Financial Services
Al Ansari Financial Services, Halan partner to launch financing solutions in UAE
The partnership introduces two key services: Salary Advance and Send Now, Pay Later (SNPL), which offer greater financial flexibility and convenience for Al Ansari Financial Services’ customers
Al Salam Bank-Bahrain
Al Salam Bank’s new Workspaces eases financial management for MSMEs
Portal introduces three new features in Bahrain – switch functionality; Admin User and flexible payment execution
Abu Dhabi
First Abu Dhabi Bank reports net profit of $1.23bn for Q3, up 5% year-on-year
The bank’s net profit was based on a revenue of AED23.9bn ($6.51bn)
Bahrain
Bahrain’s BENEFIT partners with Zphin to launch first consumer lending and insurance marketplace
The transformative marketplace, integrated into the BenefitPay super app, will empower credit providers of all types to reach the entire bankable population
CBUAE
UAE banking sector reports 10.6% growth in capital, reserves, investments
Total capital and reserves of banks operating in the UAE reached AED495.2 billion at the end of June 2024, new data by CBUAE said