Saturday 18 January 2020

Al Hilal Bank to sell Takaful to Siraj Holding

Al Hilal Bank, a wholly-owned subsidiary of Abu Dhabi Commercial Bank (ADCB) has agreed to sell Al Hilal Takaful, its Islamic insurance business and operations, to Siraj Holding, a media report said. The transaction is expected to be completed during the first quarter of 2020, su


Ithmaar Bank awards second $1m loyalty prize

Ithmaar Bank, a Bahrain-based Islamic retail bank, presented its second ever $1 million grand prize of its Thimaar loyalty scheme to Bahraini mother of five, Mariam Mohammed Abdulla Al Eid. Al Eid won the prize draw for December and received her cash prize from Ithmaar Bank chief


MoF participates in Asian Financial Forum in Hong Kong

In line with its commitment to strengthen the UAE’s global relationships and showcase the UAE model, the Ministry of Finance (MoF) participated in the Asian Financial Forum, which was held from January 13 to 14 in Hong Kong.    The ministry participat


Daily FX volume rise 40pc over the last decade

The year 2019 showed a return of a strong upward trend in the global foreign exchange market. After the dip recorded in 2016, daily turnover in the global FX market reached $6.6 trillion last year.   According to research, recent data shows a 40 p


Abu Dhabi DoE launches green bond initiative

The Abu Dhabi Department of Energy (DoE), has announced a new Green Bond Accelerator initiative at the Abu Dhabi Sustainable Finance Forum, part of the Abu Dhabi Sustainability Week 2020 running from January 11 to 18 at Adnec. The Green Bond Programme is a joint initiative betwee


UAE gold, diamond trade in 2018 tops $70bn

The value of the UAE’s trade in raw and semi-worked gold and diamonds in 2018 amounted to Dh258.4 billion ($70.3 billion), a media report said. The gold and diamond trade accounted for around 15.8 percent of the UAE’s total non-oil trade in 2018, valued at Dh1.628 tri


Investcorp to invest $130m in Indian real estate

Leading global alternative asset management firm Investcorp has raised $130 million in anchor commitments which will primarily provide last-mile funding in India, a market currently going through a liquidity crunch.    BAe Systems Pension Funds Investment M


Muqassa obtains first licence in Saudi Arabia to clear securities

Saudi Arabia's Capital Market Authority (CMA) Board has authorised Securities Clearing Centre Company (Muqassa) as the first Centre Counterparty to conduct securities clearing services in the Saudi Capital Market and the first Qualified Centre Counterparty (QCCP) in Saudi Arabia.


Dubai targets Dh2 trillion non-oil trade by 2025

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, today announced new Dh2 trillion ($544 billion) target for Dubai's non-oil foreign trade by 2025.   Presiding over the second meeting of Dubai Council, he


Sheikh Mohammed launches Dubai Future District

A new district under the name of Dubai Future District dedicated to the new economy will take shape in Dubai as per the directions of  HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai.   Sheikh Mohammed, during the

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