Thursday 23 January 2020

Regulatory and financial crime compliance conference in March

The International Compliance Association (ICA), the leading professional body for the global regulatory and financial crime compliance community, is organising the ICA Inaugural Mena Regulatory and Financial Crime Compliance Conference to the Fairmont Hotel, Dubai from March 1 to 2.


Threat of rising sea levels hits countries' ratings

Countries in Asia, Middle East and North Africa (Mena) and small islands are most exposed to rising sea levels and different studies yield similar results, says Moody’s in a report.    Countries including Vietnam (Ba3 negative), the Bahamas (Baa3 stab


NBB gets controlling stake of 78.8pc in BisB

National Bank of Bahrain’s (NBB) offer to acquire up to 100 per cent of the issued and paid up ordinary shares of the Bahrain Islamic Bank (BisB) has been successful, the bank said.   Announcing the results of the offer, it said acceptances were received i


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

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