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 […]
Abu Dhabi Global Market continues epic journey as fastest-growing IFC in region
Abu Dhabi Global Market (ADGM) is continuing to reinforce its position as a global hub for businesses looking to expand their operations in the region. ADGM’s rapid progress and achievements in just 8 years of operations have made it the fastest-growing international financial centre (IFC) in the MENA region in terms of numbers as well […]
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 […]
UAE’s Al Ansari Financial Services net profit up 7%, looks to add branches
The UAE-based Al Ansari Financial Services has seen its profit grow by 7.2% year-on-year (yoy) to 133 million UAE dirhams($36.2 million) in its first set of financial results post IPO and said it plans to add branches in its home market. Operating income grew by 9.1% to AED 287 million, while total assets grew to […]
Dubai: Fintech helps DIFC grow faster than emirate’s overall economic growth
Financial technology (popularly known as Fintech) has become a major growth driver for the Dubai International Financial Centre (DIFC), helping it to grow faster than Dubai’s overall growth rate. Essa Kazim, governor of DIFC, said the financial centre has become a major engine of growth for the emirate’s economy and a significant contributor to […]
Dubai Islamic Bank to acquire 25% stake in Turkey digital bank
Dubai Islamic Bank, the UAE’s largest Islamic lender, said on Wednesday its board of directors has approved a proposal to acquire 25% stake in a new digital banking group in Turkey in line with its international expansion strategy. The Dubai Financial Market-listed lender in a regulatory statement on Wednesday neither named the digital bank […]
DIFC to host inaugural Dubai FinTech Summit next week
Dubai is set to host the first-ever Dubai FinTech Summit on 8th and 9th May under the patronage of H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance. The Summit will be organised by Dubai International Financial Centre (DIFC) at Madinat Jumeirah and […]
Dubai Islamic Bank posts 12% rise in Q1 profit, beats estimate
Dubai Islamic Bank, the UAE’s largest Islamic lender, posted a 12% jump year-on-year (YoY) in its Q1 2023 net profit to 1.5 billion dirhams ($408 million), driven by higher revenues and lower impairments. The earnings beat Refinitiv’s mean analysts’ estimate of AED 1.43 billion. Net financing and sukuk investments came in at AED 240 billion, […]
MBME to list on Abu Dhabi Securities Exchange Growth Market on April 17
MBME Group, the UAE’s largest payment aggregation platform, has announced that it will list on the Growth Market of the Abu Dhabi Securities Exchange (ADX), thus becoming the first fintech company to be listed on the UAE’s financial markets. MBME is to list on April 17. The Group says it will expand its offerings, access […]
Emirates NBD Securities offers trading account opening through DFM application
Emirates NBD Securities, the brokerage arm of the Emirates NBD Group, has become the first securities brokerage in the region to offer seamless trading account opening through the Dubai Financial Market (DFM)’s digital onboarding application. The application provides investors with an additional channel to open a trading account with Emirates NBD Securities, allowing them […]