Monday 19 April 2021

UTC’s digital trade platform goes live with 7 banks

UAE Trade Connect (UTC), a new nationwide blockchain platform co-created by Etisalat Digital and seven leading UAE banks and Avanza Innovations and initially ideated by First Abu Dhabi Bank, went commercially live today (April 19). This unique platform invites all UAE banks and t


MIG agrees strategic partnership with Gallagher

MIG Holding, a leading regional insurance investment group, and Gallagher, one of the world’s largest insurance broking and risk management firms, have agreed a strategic partnership which will see them jointly develop their presence in the Mena region.  


Mastercard in strategic partnership with Central Bank of Iraq

Mastercard has signed a partnership agreement with the Central Bank of Iraq (CBI) to digitise the country’s payment ecosystem.    This is intended to boost financial inclusion, encourage socio-economic development, mitigate the risks of a shadow econo


Commercial registrations in UAE reach 5,944 by 2020

The UAE’s Ministry of Economy (MoE) said the total number of commercial agencies registered in the various sectors in the country reached 5,944 by the end of last year. In addition to the 348 new agencies registered during 2020, 65 new agencies were registered during the fi


Sharjah issues 15,920 licences in Q1, up 12%

The Sharjah Economic Development Department (SEDD) said that the number of issued and renewed licences during the first quarter (Q1) of 2021 reached 15,920 compared to 14,267 during the same period in 2020, a rise of 12%. The department’s first-quarter report also confirmed


Sharjah Islamic operating profits rise 27% in Q1

The operating profits of Sharjah Islamic Bank (SIB) has increased before provisions amounting to AED212.2 million ($57.75 million) in Q1 2021, compared to AED167.2 million for the same period last year, with an increase of 26.9 percent. According to the bank's financial state


Bahrain’s national-origin exports up 18% to $1.8bn in Q1

The value of Bahrain’s exports of national origin increased by 18% to BD684 million ($1.8 billion) during the first quarter (Q1) 2021, compared to BD580 million for Q1 of the previous year, marking a 17.9% increase, a report said. The top 10 countries in terms of the value


ENBD, ECI in pact to improve exporters’ liquidity

Etihad Credit Insurance (ECI), the UAE Federal export credit company and Emirates NBD, a leading banking group in the region, have signed an agreement that will improve the liquidity of UAE exporters and businesses and enhance their global competitiveness. The agreement follows t


HSBC, Mastercard partner for B2B payments

Mastercard has announced a new partnership with HSBC that will provide the bank’s commercial customers in the UAE with an enhanced business-to-business payment experience via the Mastercard Track Business Payment Service. The latest collaboration will result in the launch o


Daya appointed CEO of Barclays Bank (Suisse) SA

Rahim Daya has been appointed CEO of Barclays Bank (Suisse) SA and will relocate to the Barclays’ Geneva office, where he will be responsible for positioning the business for growth in the region.    Daya will also retain his position as Head of the M

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