UAE - Mubasher: Mastercard has entered into a partnership with the UAE-based LuLu Group to boost sustainability, innovation, and efficiency in retail payments across the six GCC markets. The partnership, extending across Bahrain, Kuwait, Oman, …
Riyadh – Mubasher: The Saudi Paper Manufacturing Company obtained a Sharia facility deal worth SAR 150 million from Emirates NBD on 3 July 2024. In line with its growth strategy and plans, the listed firm will use the loan to back its cash …
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank’s (ADIB) sustainable finance reached AED 5.56 billion in 2023, including the issuance of the world's largest green sukuk by a bank, raising $500 million. ADIB has set net-zero targets for Scope 1 and …
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) joined forces with tech company Silent Eight to automate financial crime compliance screening, according to a press release. Silent Eight leverages AI tools to create custom compliance models for …
Dubai – Mubasher: Ajman Bank has entered into a strategic partnership with Magnati to boost the digital payment capabilities of its corporate and business banking clients, according to a press release. Through this collaboration, the DFM-listed …
Abu Dhabi – Mubasher: Al Hilal Bank, a subsidiary of the Abu Dhabi Commercial Bank (ADCB) Group has teamed up with Abu Dhabi Securities Exchange (ADX) to initiate instant subscriptions to all Sharia-compliant initial public offerings (IPOs) on the …
UAE – Mubasher: Newgen Software, a global provider of low-code digital transformation platforms, has launched generative AI-powered hyper-personalisation platform LumYn in the Middle East. LumYn is tailored for the banking sector and is set to …
Dubai – Mubasher: MENAT-focused banking group Emirates NBD has entered into an exclusive partnership with CARS24 to elevate the customer car buying and auto financing journey in the UAE, according to a press release. This is the first-of-kind …
Dubai – Mubasher: Ajman Bank has announced integrating Jaywan card acceptance across its ATM network. The initiative will enable seamless cash withdrawals for Jaywan cardholders, according to a press release. The Jaywan card, launched by Al Etihad …
Mubasher: Emirates NBD and Jarir Marketing Company (Jarir Bookstores) inked a cooperation agreement to enhance the customer experience by offering exclusive services and benefits to their clients. The joint deal aligns with the two entities’ …
Cairo – Mubasher: Egypt-based fintech company Connect Money has closed an $8 million seed funding round led by Disruptech Ventures and Algebra Ventures. The new funding will support Connect Money's plans to introduce five new business verticals in …
Dubai – Mubasher: Mashreq Bank has extended its partnership with Oracle Financial Services to back its growth plans worldwide, according to a press release. The lender will replace its core systems with Oracle solutions to streamline and enhance …
Dubai – Mubasher: Moody’s Ratings has affirmed Dubai Insurance Company’s ‘A3’ insurance financial strength rating (IFSR). The rating agency changed the company’s outlook to positive from stable, according to a press release. DIN's outlook has …
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) has entered into a strategic collaboration with DIFC Innovation Hub to fast-track fintech adoption in the region. The UAE’s DIFC Innovation Hub is home to more than 700 growth-stage tech firms …
Dubai – Mubasher: The listed Commercial Bank of Dubai (CBD) has teamed up with Emirates Development Bank (EDB) through a strategic partnership to enhance and facilitate international trade services, according to a press release. The collaboration …
Cairo – Mubasher: The National Bank of Egypt (NBE) has announced, on 19 June 2024, the successful signing of a $1 billion senior unsecured syndicated term loan facility in which several regional and global financial institutions participated. The …
UAE – Mubasher: The Central Bank of the UAE (CBUAE) has maintained the base rate for the overnight deposit facility (ODF) at 5.40%. The CBUAE has kept the interest rate for borrowing short-term liquidity at 0.50% above the base rate for all …
Mubasher: The US Federal Reserve (Fed) left interest rates unchanged, signalling it will not pull back until seeing sustained progress lowering inflation from multi-decade highs. The Federal Open Market Committee (FOMC) has maintained the target …
UAE- Mubasher: Emirates NBD has partnered with Citi to introduce a new USD cross-border clearing service in the Middle East. Emirates NBD will be the first bank to utilise Citi’s 24/7 USD Clearing service, offering round-the-clock cross-border …
UAE – Mubasher: UAE-based tech firm Polynome Group unveiled plans to raise a $100 million fund for AI startups, aiming to boost the country's AI ecosystem. The fund will invest in seed to growth-stage companies working on technologies, software, …
Abu Dhabi – Mubasher: Invest Bank’s CEO Ahmed Mohamed Fawzi Abu Eideh has resigned effective 11 June 2024. The bank’s board assigned the CEO role to a member of the senior management for an interim period, according to a bourse filing. The board …
Mubasher: Ithmaar Holding, which is listed on Bahrain Bourse as well, has selected Maysan Faisal Almaskati as CEO for the company and its two subsidiaries; Ithmaar Bank and IB Capital. Before assuming the new position, Almaskati served as Ithmaar …
Dubai – Mubasher: The board of Takaful Emarat – Insurance recommended a capital increase valued at AED 60 million to enhance the company’s financial position and ensure long-term business stability. The board called for the shareholders to approve …
Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), the business unit of UAE-based FAB operating in Egypt, penned a deal with Cayesh, the first supply chain finance company in Egypt. The two entities will join forces to leverage innovative …
Mubasher: Saudi Arabia, the UAE, and Egypt accounted for 92% of total venture capital (VC) funding in the MENA region, according to a report by MAGNiTT. Saudi startups raised $400 million in VC funding in 2023, up 602% year-on-year (YoY), the …
