by Vasu Jit Kalia | September 13, 2024 | Banking
UAE Ambassador to India Abdulnasser Alshaali revealed that a major Abu Dhabi-based bank is in advanced stages of negotiations to acquire a significant stake in an Indian bank. The UAE Ambassador to India told a prominent Indian TV channel in an interview that the...
by Vasu Jit Kalia | September 13, 2024 | Banking
The new statistics released by the Central Bank of the UAE (CBUAE) have shown substantial growth in the banking sector’s capital, reserves, and investments as of June 2024. The total capital and reserves of banks operating in the United Arab Emirates reached AED 495.2...
by Jennifer George | September 13, 2024 | Banking, Mergers & Acquisitions, News
Dubai-listed Mashreq Bank will sell a 65% stake in NeoPay, a key Mashreq subsidiary for IDFAA Payments Services LLC, to Arcapita Group Holdings Limited and Turkish fintech firm Dgpays S.A.R.L. The local lender is expected to enter a long-term shareholder arrangement...
by Priyanka Sharma | September 10, 2024 | Banking, Central Banks, Fintech, News
In what is being seen as a milestone in banking, the National Bank of Ras Al Khaimah has executed a cross-border Central Bank digital currency payment. RAKBANK has now become one of the first banks in the United Arab Emirates to execute such a transaction. The trade...
by Vasu Jit Kalia | September 9, 2024 | Banking, Central Banks
Bank of Sharjah priced a $ 500 million senior unsecured bond in the international markets. The issuance received tremendous response from international investors, attracting orders that peaked at $1.4 billion. The bonds have a tenor of five years from the date of...
by Jibran Munaf | September 8, 2024 | Central Banks, News
Dubai Police will now provide employees of the UAE Central Bank with the Esaad card, following a memorandum of cooperation signed between the two authorities. The agreement grants Central Bank employees and their families access to exclusive discounts across a wide...
