Cairo, Egypt: Mashreq – one of the leading financial institutions in the MENA region – has announced plans to extend the roll-out of its innovative digital corporate banking platform, Mashreq NEO CORP, to business customers in Egypt, after obtaining the required regulatory approvals. Mashreq’s NEO CORP digital platform, developed in partnership with Oracle and two other […]
Riyadh, Saudi Arabia – February 2025 – AutoSoft Dynamics, a subsidiary of Constellation Software Inc. (CSI), has taken a significant step toward expanding its presence in Saudi Arabia by signing a teaming agreement with Azeemi Technologies. The agreement, formalized on the first day of the LEAP 2025 technology conference, aims to introduce cutting-edge banking solutions to the region, reinforcing […]
Doha – Finastra, a global provider of financial software applications and marketplaces, today announced it has been selected by Al Rayan Bank, one of the largest Islamic banks in Qatar with international presence, to implement a new, fully-fledged Islamic core banking solution. By moving to Finastra’s next-generation solution, the bank will benefit from a holistic offering that […]
Abu Dhabi: First Abu Dhabi Bank (FAB) has achieved solid results in 2024 with Group net profit reaching AED 17.1 billion, up 4% year on year, driven by a 15% increase in revenue to AED 31.6 billion. Profit before tax grew 13% year on year to AED 19.9 billion nearing AED 20 billion, reflecting increased client […]
Muscat. In line with its intuitive efforts to empower Small and Medium Enterprises (SMEs) through well-articulated solutions, ahlibank has recently announced the launch of its Point of Sale (POS) Financing Program for SMEs. The new program is geared towards SMEs who are willing to use, or are already using, ahlibank’s POS machines, granting short/medium term loans […]
The Commercial Bank of Dubai (CBD) logged net profits after tax worth AED 3.02 billion in 2024, marking an annual increase of 14.30% from AED 2.65 billion. Total operating income jumped by 11.20% year-on-year (YoY) to AED 5.49 billion as of 31 December 2024 period from AED 4.93 billion, according to the consolidated interim financial […]
DUBAI: Mashreq Bank’s net profit rose to AED9 billion in 2024, an increase of about 4 percent compared to 2023, after paying taxes worth AED869 million. Net Profit Before Tax reached AED9.9 billion, representing a 12 percent increase in 2024. Mashreq achieved AED 13.4 billion in revenue, representing a 24 percent increase year-on-year (YoY) and […]
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 […]