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SAMA regulations enhance Saudi Islamic banks’ Sharia governance, Fitch says

SAMA regulations enhance Saudi Islamic banks’ Sharia governance, Fitch says

The regulations issued cover profit-sharing investment accounts and aim to enhance Sharia compliance
Emirates NBD Egypt issues its debut annual sustainability report

Citi, Emirates NBD partner to launch US cross-border payments

Emirates NBD will fully utilise Citi’s 24/7 USD clearing capabilities, including commercial payments and execution of treasury payments
Emirates NBD Egypt issues its debut annual sustainability report

Emirates NBD, Pine Labs partner to strengthen merchant acquiring solutions

The bank plans to deliver cutting-edge merchant-acquiring processing solutions for its clients in the UAE, with plans to expand to Saudi Arabia and Egypt
Emirates NBD Egypt issues its debut annual sustainability report

Emirates NBD’s Q1 2024 profit surges 67% to AED 6.7 billion

The group’s asset base surpassed AED 900 billion as retail lending had its strongest-ever quarter and corporate lending closed landmark deals
ADNIC completes acquisition of 51% stake in Allianz Saudi Arabia

ADNIC completes acquisition of 51% stake in Allianz Saudi Arabia

The acquisition will make ADNIC one of the Tier-1 listed insurers in Saudia Arabia
ADCB launches Mastercard Carbon Calculator

UAE’s ADCB secures banking licence from Saudi Central Bank

The bank will provide a comprehensive range of services for corporate and institutional clients, including financing and working capital solutions
Oman’s Sohar International secures Saudi banking licence

Oman’s Sohar International secures Saudi banking licence

The bank’s expansion is poised to catalyse job creation, facilitate knowledge exchange, and promote skill development
Gulf International Bank raises SAR 1.5 billion from debut Tier 2 Sukuk

Gulf International Bank raises SAR 1.5 billion from debut Tier 2 Sukuk

The bank’s Sukuk programme is aligned with its strategic objectives to facilitate balance sheet growth
Saudi Awwal Bank, Mastercard partner to offer secure digital transactions

Saudi Awwal Bank, Mastercard partner to offer secure digital transactions

The bank will leverage Mastercard’s advanced AI-based cybersecurity technology to prevent payment fraud
Islamic funds’ assets under management fall on rate rises

Islamic funds’ assets under management fall on rate rises

The decline was driven by investor outflow mainly due to rising interest rates and financial market volatility.