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UAE’s du unveils digital financial solution du Pay

The innovative digital financial solution is poised to play a pivotal role in enhancing financial inclusion, accessibility and security

Snowdrop, PwC Middle East partner to advance digital banking

Snowdrop’s transaction enrichment API is already gaining recognition in the Middle East region

QIB’s Q1 2024 net profit jumps 5.5% to QAR 955 million

Total income for the first three months of the year was QAR 2.81 billion compared to QAR 2.41 billion for the same period in 2023

ADIB refutes report of talks to buy $1.1 billion stake in Indonesian bank

The Islamic bank said that it strongly denies that it is in talks to acquire a minority stake in the Indonesian lender

France’s SocGen to sell Moroccan business for EUR 745 million

The transaction is subject to the usual condition’s precedent, including the approval of the relevant regulatory authorities

Fitch affirms Ajman Bank’s ratings at ‘AA+’, outlook ‘stable’

The bank’s rating is driven by potential support from the UAE authorities if needed, as reflected in its government support rating of “bbb+”

UAE’s ADIB leads closure of AED 863 million Shari’ah-compliant syndicated loan

ADIB acted as the lead arranger, coordinator, bookrunner, Shari’ah advisor, and investment and security agent on the deal

EFG Hermes concludes advisory on Al Arafa for Investment demerger

The demerger is aimed at carving out the essence of style and industry prowess, housed within Concrete, from the array of strategic investments held by Gtex

EFG Holding posts EGP 14.7 billion in full-year revenues

The group’s net profit rose 47% YoY to EGP 3.2 billion in 2023, supported by the increase in profit at its brokerage division, asset management, Valu, and aiBANK

UAE central bank maintains the base rate at 5.40%

The Federal Reserve held interest rates at a 23-year high as officials affirmed their view for three rate cuts this year

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