Tuesday 28 February 2017

Al Baraka achieves $152m net income in 2016

Bahrain-based Al Baraka Banking Group, a leading Islamic banking group has announced a seven per cent increase in total operating income and 9 per cent increase in net operating income during 2016 compared with 2015. Total operating income exceeded the level of $1 billion to reac


Leading Bahrain banks back financial forum

Some of the leading banks and financial institutions are supporting the 6th GCC Financial Forum to be held in Bahrain next week as charter sponsors.   Al Salam Bank, Arcapita, Bank of Bahrain and Kuwait (BBK), BNP Paribas, GFH, National Bank of Bahrain (NBB) and Rante Corpor


DFSA signs MoU with European authority

The Dubai Financial Services Authority (DFSA) and the European Securities and Markets Authority (ESMA) have entered into information sharing and cooperation arrangements regarding DIFC based central counterparties (CCPs) compliance with conditions set out in The European Union’s Market In


Qatar banks' merger 'will be good for sector'

A proposed merger between three Qatari banks -- Masraf Al Rayan, Barwa Bank and International Bank of Qatar -- if successfully completed, would create the largest Islamic bank and the second largest bank in Qatar, and would result in a more balanced competitive environment in Qatar's fragme


Saudi Arabia to step up investment in Morocco

Saudi Arabia, under its Vision 2030, plans to increase the volume of its investment in Morocco, said a top official. Mohamed Fahd Al Ahmadim, head of Moroccan-Saudi Council of Business, was speaking at a preparatory meeting of the council in Casablanca, reported Morocco World


BNH posts net profit of $10.3m for 2016

Bahrain National Holding (BNH) yesterday reported a consolidated net profit of BD3.9 million ($10.3 million) for 2016, reported the Gulf Daily News, our sister publication. To read further, please visit


Ahli United Bank profit up 6.2pc to $570m

Bahrain’s largest lender Ahli United Bank (AUB) has posted a net profit of $570.6 million for the year 2016, representing a growth of 6.2 per cent compared with a net profit of $537.2 million in 2015, reported the Gulf Daily News, our sister publication. To read fu


Borse Dubai, Nasdaq sign market technology deal

Borse Dubai and Nasdaq have signed a new landmark agreement to bolster the technological infrastructure of Dubai’s stock exchanges, Dubai Financial Market (DFM) and Nasdaq Dubai, and further improve post-trade practices.  DFM has been a Nasdaq Market Technology client


UAE's Wall Street Exchange new prepaid gift card

Wall Street Exchange (WSE), UAE’s leading comprehensive money exchange service provider and a member of Emirates Post Group, has piloted a universal prepaid MasterCard gift card in UAE currency, which can be used globally where MasterCard is accepted. The Wall Street Exchan


IBM, Visa team up for payments via IoT

IBM and Visa announced the industry’s first collaboration that brings the point of sale everywhere Visa is accepted, by allowing businesses to quickly introduce secure payments for any device connected to the Internet of Things (IoT). The collaboration brings together IBM&r

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