by Jibran Munaf | October 12, 2024 | Banking
Dubai Islamic Bank, the largest Islamic lender in the UAE, has successfully issued a $500 million Additional Tier 1 (AT1) sukuk with a competitive profit rate of 5.25%, a reduction from the initial price thoughts of 5.75%. This sukuk will be dual-listed on Euronext...
by Jibran Munaf | October 11, 2024 | Banking
After maintaining its benchmark interest rate for almost two years, the Bank of Korea (BOK) has made its first rate cut since 2020. The central bank reduced rates by 25 basis points, bringing the benchmark down to 3.25%. The move follows a period of rate hikes that...
by Jibran Munaf | October 11, 2024 | Banking, Finance
The Federal Reserve’s recent interest rate cuts may seem like a breath of fresh air for banks, but the financial sector remains far from out of the woods. Traditionally, falling rates benefit banks by slowing the migration of customer deposits into higher-yield...
by Priyanka Sharma | October 9, 2024 | Banking, Financial Education & Literacy, Fintech, Gitex 2024, Technology
Dubai Internet City, a vibrant community of more than 3,500 tech giants, Fortune 500 companies, and start-ups, is set to demonstrate the transformative nation-building potential of emerging technologies at GITEX Global 2024. “Technologists are influential architects...
by Priyanka Sharma | October 8, 2024 | Breaking, Central Banks, Economy, Finance
The United Arab Emirates has approved its federal budget for 2025, its largest in history. The UAE cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved the union general...
by Jibran Munaf | October 6, 2024 | Fintech
Bahrain has officially launched its first regulated digital assets exchange, ATME, during the FinTech Forward 2024 event hosted by the Bahrain Economic Development Board (EDB). Licensed by the Central Bank of Bahrain (CBB), ATME aims to democratise access to...
