Tag: UAE
CBUAE publishes monetary, banking developments for March 2024
The money supply aggregate M3 increased by 1.9%, from AED 2.54 billion at the end of February 2024 to AED 2.58 billion at the end of March 2024
S&P Global affirms ‘AA’ ratings for UAE’s Emirates Development Bank
The upgrade reflects the improved clarity of the bank’s strategic mandate to enable economic development and industrial growth in the UAE
Network leads launch of UAE domestic card scheme ‘Jaywan’
The domestic payments scheme seeks to promote digital payments by boosting card-based transactions across all segments of customers
Islamic banks assets increased by AED 86 billion over past 12 months
The Islamic banks’ deposits increased to AED 509.4 billion at the end of February, reflecting an annual increase of 15.8%
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
UAE’s ADIB unveils nationwide business banking expansion plan
The expansion includes strategic collaborations with key partners specialising in serving the SME sector and leveraging its extensive network across key locations in the UAE
Standard Chartered offers retail investors access to UAE-domiciled funds within DIFC
The bank has partnered with leading international companies to provide best-in-class products to its retail clients including Amundi
Bank of Sharjah reports net profit of AED80 million in Q1 2024
The bank’s robust metrics result from strict adherence to a focused approach to funding, lending, and operational effectiveness
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
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+”