PayTabs unites with Tabby to boost GCC’s digital economy
PayTabs Group, MEASA’s award-winning payment solutions powerhouse, has partnered with Tabby, MENA’s leading shopping and financial services app, in order to power the growth of eCommerce across Saudi Arabia and the UAE. The collaboration aims to elevate businesses on the PayTabs Payments platform by offering Tabby’s interest and fee-free split payment solution creating a seamless […]
DFSA hits FFA Private Bank with $370,000 fine over system failures
Dubai financial regulator has fined FFA Private Bank (FFA) $373,842 (Dhs1.4m) for having inadequate systems and controls to identify, assess and report trading, which exhibited suspicions of market abuse between February 2018 and March 2021. The Dubai Financial Services Authority (DFSA) said the weaknesses in FFA’s systems and controls meant that the company failed to identify […]
DGCX launches GCC’s 1st Shari’ah Compliant Silver Spot Contract
The Dubai Gold & Commodities Exchange (DGCX), the largest and most diversified derivatives exchange in the Middle East, has launched GCC’s first Shari’ah Compliant Silver Spot Contract (DSSC), to provide investors with a reliant and transparent platform for trading the white metal. Having received regulatory approval from the UAE Securities and Commodities Authority (SCA), the […]
Abu Dhabi’s Invest AD launches Blackstone Private Debt Fund
Abu Dhabi Investment Company (Invest AD), a wholly owned subsidiary of Mubadala Investment Company, has launched the Invest AD Blackstone Private Debt Fund, an SCA-regulated fund, which will offer local feeder access to Blackstone’s US and European private credit strategies. The feeder brings Blackstone’s institutional-caliber credit platform to qualified non-US investors, primarily in the UAE. […]
FAB, Magnati unite with Geidea to boost digital payments
First Abu Dhabi Bank (FAB) and Magnati have entered into a strategic alliance with Saudi Arabia’s largest fintech company Geidea to provide digital payment acceptance services for businesses in the Kingdom.The collaboration has the potential to be transformative in the Saudi payments space and is set to create exceptional value for clients, bridging the gap […]
Dubai Islamic Bank integrates ‘alt’ service with UAE Pass
Dubai Islamic Bank (DIB) has integrated its DIB ‘alt’ services on mobile & internet banking with UAE PASS, the first secure unified national digital identity solution for the UAE. DIB ‘alt’ is full-service digital banking that enables customers to fulfill day-to-day banking needs through accessible and convenient digital channels with 135+ services available through the DIB ‘alt’ mobile, […]
ADIB to provide instant account opening for SMEs
Abu Dhabi Islamic Bank (ADIB) has become the first bank in the UAE to provide small and medium-sized enterprises (SMEs) with convenient remote account opening services through a mobile app by deploying Emirates Face Recognition (EFR) technology. This new feature will allow businesses to apply for a business account without the need to visit a […]
UAE: ADDED, ADIB to facilitate digital business banking account opening
Abu Dhabi Department of Economic Development (ADDED) has signed a Memorandum of Understanding (MoU) with Abu Dhabi Islamic Bank (ADIB) to jointly offer bank account opening procedures for investors and business licence owners issued by ADDED, facilitating business in Abu Dhabi. The collaboration between the two parties aim to simplify and expedite the process […]
ADIB Egypt reports 125.4% YoY climb in Q1 consolidated profits
Abu Dhabi Islamic Bank Egypt (ADIB) reported a 125.4% year-on-year (YoY) increase in consolidated profits after tax and non-controlling interests for the first quarter (Q1) of 2023, according to the bank’s financial statements filed to the Egyptian Exchange (EGX) on May 14th. The bank recorded a consolidated net profit after tax of EGP 1.005 billion […]
Central Bank of UAE issues its 2022 Annual Report on monetary, financial stability
The Central Bank of the UAE (CBUAE) issued its 2022 Annual Report, highlighting its progress and initiatives to bolster monetary and financial stability in the UAE throughout the year. The report highlighted the CBUAE’s monitoring and supervision efforts to enhance monetary stability and the financial sector’s resilience and support economic activity in the […]