Emirates NBD’s profit before tax climbed to a record AED 27.1 billion in 2024 as it expanded its regional presence and enhanced its Wealth Management franchise. Income grew to over AED 44 billion in 2024 with the Group’s strategic investment in digital banking and branch network, generating significant new revenue streams. All business units achieved […]
UAE banking sector is the largest in the Middle East, boasting total assets of AED 4.457 trillion. Launch of the world’s first Open Finance regulation. Issuance of the Middle East’s first regulation for licensing and overseeing stablecoins. 152.85% Emiratisation rate achieved, exceeding the 2024 target. Five FinTech regulations issued to promote digital transformation, attracting 260 […]
– Fintech Galaxy is the first Open Banking company accepted into the Central Bank of Jordan’s regulatory sandbox, JoRegBox. – Through its FINX Connect platform, Fintech Galaxy aims to empower third-party providers with secure, consent-driven access to customer data for innovative financial services. – Open Banking will contribute to Jordan’s vision to become a regional […]
Ras Al Khaimah, United Arab Emirates – The National Bank of Ras Al Khaimah (RAKBANK) today reported its financial results for the full year and the fourth quarter of 2024 Highlights Full year 2024 Total Income AED 4.7B +7% YoY Total Assets AED 88.3B +19% YoY Deposits AED 59.6B +18% YoY Return on Equity 18.4%FY’24 Return […]
Ajman Government Media Office – His Highness Sheikh Ammar Bin Humaid Al Nuaimi, Crown Prince of Ajman, Chairman of the Executive Council, and Chairman of the Board of Directors of Ajman Bank, presided over the Ajman Bank Board of Directors meeting. The meeting was attended by Sheikh Rashid Bin Humaid Al Nuaimi, Chairman of the Municipality […]
UAE-based Al Hilal Bank, the Islamic banking subsidiary of Abu Dhabi Commercial Bank (ADCB) Group, has announced the appointment of Jamal Al Awadhi as its new CEO. Al Awadhi will spearhead the bank’s “ambitious growth trajectory” and drive its digital-first strategy. Al Awadhi initially joined Al Hilal Bank in May 2023 as deputy CEO. Prior […]
Dubai, UAE: Mastercard has initiated a collaboration with ruya, a new digital Islamic community bank in the UAE, to launch innovative debit and credit card products for individual and commercial customers. The global technology company in the payments industry has become ruya’s single scheme partner for all card issuance and beyond. The bank will also benefit […]
Dubai, UAE: Emirates NBD, a leading banking group in the Middle East, North Africa, and Türkiye (MENAT) region has won two prestigious recognitions at the 2024 awards by The Banker, namely ‘Bank of the Year in the UAE 2024’ and ‘Best Private Bank in the UAE’. Emirates NBD was awarded the title of ‘Bank of the […]
MUSCAT – Mashreq, one of the leading financial institutions in the MENA region, has announced its entry into Oman, seeking to strengthen its position with a range of personalized financial services tailored for the Sultanate’s evolving corporate and public sectors. This strategic move underscores Mashreq’s intent to contribute to Oman’s Vision 2040, with ambitions to […]