Monday 24 July 2017

Swift opens up KYC Registry to all finance institutions

Swift today announced that it has opened membership in its KYC Registry to all supervised financial institutions globally. Since the launch of The KYC Registry in December 2014, membership has been limited to Swift-connected supervised institutions. Starting in September 2017, al


Foreign investment at ADX tops $575m in June

Foreign investors’ purchases at Abu Dhabi Securities Exchange (ADX), amounted to Dh2.114 billion ($575.4 million) in June, accounting for 55.4 per cent of total buy trades, a report said. Their sales stayed at Dh1.871 billion, comprising 49.1 per cent of total sell trades,


Sharjah Islamic H1 net profit rises by 6.2pc

Sharjah Islamic Bank, SIB, has posted a net profit of Dh272.9 million ($74.2 million) for the first half of 2017 compared to Dh257.0 million for the same period last year, with an increase of 6.2 per cent, a report said. Total assets reached Dh36.9 billion at the end of the 2nd q


Abu Dhabi National Takaful's Abdeen among 'top CEOs'

Osama Abdel-Raouf Abdeen, CEO of Abu Dhabi National Takaful Co (ADNTC), a leading Takaful operator in the GCC, has been named among the GCC’s 100 Best CEOs at the Top CEO Awards for 2017 organised by Mediaquest. The elite roster of top-performing CEOs in the Gulf is compile


Saudi Arabia well-placed for MSCI upgrade: UBS

MSCI's potential inclusion of the MSCI Saudi Arabia Index in the MSCI Emerging Markets Index in 2019 would improve the attractiveness of its stock market which could account for up to 2.5 per cent of MSCI Emerging Market Index, said a report. The new report from the Chief Inv


Al Salam Bank launches its online platform

Al Salam Bank-Bahrain, one of the pioneering Shari’a-compliant banks in the kingdom, has launched an upgraded online banking platform for its individual customers. The new version uses best-in-class technology and will now allow customers to register for the service online


UAE signs avoidance of double taxation deal with Cameroon

The UAE Ministry of Finance (MoF) signed a final agreement for the avoidance of double taxation with the Republic of Cameroon at the Ministry’s premises in Dubai today. The agreement comes in line with the ministry’s strategy to strengthen bilateral trade and economic


Cigna acquires Zurich Insurance Middle East

Cigna Corporation, a global health services company, has announced the acquisition of general insurer Zurich Insurance Middle East (SAL). The acquisition, which was successfully completed in June marks the beginning of a new phase of operations for Cigna as the premier provider o


Online platform urged to manage millennial wealth

Wealth managers will have to operate like online platform companies offering personalised opportunities if they wish to provide financial advisers with a broad toolkit to help millennials and other clients, said a new report. As technology diffuses, millennials and their advisers

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