Tag: UAE
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
UAE’s du secures licences to offer fintech services
The licences will enable du to offer a range of digital financial services that align with the evolving needs and preferences of customers in the digital era
UAE banking sector poised for continued growth in 2024
Total assets of banks operating in the UAE increased by 3.1% quarter-on-quarter in Q4 2023 to reach AED 4.075 trillion
Islamic digital bank Ruya launches in UAE
The Shariah-complaint bank seeks to revolutionise the modern banking experience based on its core values of prosperity, integrity, partnership and community
Abu Dhabi wealth fund ADQ to invest $35 billion in Egypt
The Abu Dhabi fund will acquire the development rights for Ras El-Hekma for $24 billion to develop the region into one of the largest new city developments
Magnati, Al Etihad Payments partner to provide instant digital payments
Real-time payments enhance cash flow for merchants and customers benefit from an improved payment experience
ADIB full year net profit rises 45% to AED 5.25 billion
Net profit for Q4 2023 reached AED 1.5 billion with 29% growth versus Q4 2022
ADGM, Mastercard partner to empower SME community
The two entities will work with local banking partners to issue SME cards, which will offer a seamless and secure way to manage business expenses
Ajman Bank launches real estate subsidiary Skyrise Properties
The new company is set to complement the bank’s core business offerings, with a range of services including property management