Monday 25 June 2018

BDB closes $100m venture capital fund

Bahrain Development Bank (BDB) has announced that the Al Waha Fund of Funds has successfully closed its $100 million fundraising round, making it the first active venture capital fund of funds in the region. The announcement marks an important milestone for the region’s gro


KFH-Bahrain inks financing deal with Ibn Khuldoon

Kuwait Finance House – Bahrain (KFH-Bahrain), a top Islamic banking services provider, will finance the construction of new buildings at Ibn Khuldoon National School, following the recent agreement signed between the two parties.   The signing ceremony was attended by F


RakBank, Xpress Money partner for payment service

RakBank, a leading bank in the UAE, has partnered with Xpress Money, a major money transfer brand, to offer convenient money transfer services to RakBank customers through the bank’s remittance service RAKMoneyTransfer (RMT). The bank’s money remittance service is ava


81pc of Emiratis ‘frequent online shoppers’

The majority of shoppers in the UAE are now frequent online shoppers, and that figure is as high as 81 per cent for Emiratis, said a survey, highlighting that new payment technologies are capturing consumers’ imaginations. The Department of Economic Development (DED) in Dub


Adib wins 7 EMEA Finance Achievement Awards

Abu Dhabi Islamic Bank (Adib), a leading financial institution, has received an unprecedented sevens awards, across both house and deal categories, at the EMEA Finance Achievement Awards, held recently in London, UK. In the Islamic finance category, Adib won: ‘Best Islamic


Dubai RTA launches NFC payment initiative

The Dubai Roads and Transport Authority (RTA) has recently launched an initiative for payment of fees at Customer Happiness Centres using Near Field Communication (NFC) technology of smartphones and devices. Ahmed Ali Al Kaabi, executive director of Finance at RTA said: “RT


Bahrain Islamic relaunches premium banking services

Bahrain Islamic Bank (BisB) has announced the relaunch of its Al Thuraya Premium Banking Services with a selection of new unique features tailored to cater to the needs of High Net Worth Individuals (HNWIs) as part of its ongoing commitment to the continuous development of its products and se


Boursa Kuwait eyes MSCI emerging markets status

Morgan Stanley Capital International (MSCI) has announced that it will include the Boursa Kuwait in the MSCI Kuwait Index in its 2019 Annual Market Classification Review for a potential reclassification from Frontier Markets to Emerging Markets status. MSCI is one of the world&rs


DFSA signs partnership with Astana Financial

The Dubai Financial Services Authority (DFSA) has entered into a memorandum of understanding (MoU) with the Astana Financial Services Authority (AFSA), a media report said. The MoU was signed in the Dubai International Financial Centre (DIFC) by Bryan Stirewalt, managing director


Emcredit, ebooc to launch nexgen POS machines

Emcredit, a subsidiary of the Department of Economic Development (DED) in Dubai, and ebooc, has signed an agreement to launch a next-generation digital payment Point of Sale (POS) platform for Dubai, UAE. The memorandum of understanding (MoU) was signed by Ali Ibrahim, deputy dir

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