Browsing: Banking

Securities and Commodities Authority (SCA) of the UAE actively enforced a regulation (pdf) since last Sunday, prohibiting onshore banks from promoting or marketing foreign funds to retail investors. This regulation allows only funds registered with the SCA to be marketed in the UAE to retail investors.

First Abu Dhabi Bank (FAB) and Microsoft have entered into a strategic business partnership to collaborate on the development of innovative AI-driven banking capabilities on a global scale.

Abu Dhabi, United Arab Emirates; 25 March 2024: The CEOs Consultative Council of UAE Banks…

In a significant move, Japan’s central bank, headquartered in Tokyo, has altered its interest rates. The Bank of Japan, operating in the world’s fourth-largest economy, raised its interest rate on Tuesday for the first time in nearly two decades.

India’s reserve of foreign currency surged by $10.470B to reach $636.095B by the week ending on March 8, as per the most recent data disclosed by the Reserve Bank of India (RBI).

China’s central bank declared on Friday its decision to maintain the status quo on a crucial policy rate, while withdrawing funds from a medium-term policy loan operation.

On Wednesday, as part of an initiative to enhance the operational capacity of the central bank, the Union Government has waived customs duty and agricultural cess on specific gold imports made by the RBI.

The Board of Directors at United Arab Bank (UAB) has unanimously chosen Sheikh Mohammed bin Faisal bin Sultan Al Qassimi as the new Chairman, succeeding Sheikh Faisal bin Sultan bin Salem Al Qassimi, who led the Board for almost fifty years. This selection underscores the bank’s and its shareholders’ commitment to innovation and growth amid ongoing developments in the banking industry, marking a new era of success.

Abu Dhabi, United Arab Emirates – The CEOs Advisory Council of UAE Banks Federation (UBF),…

Dubai, United Arab Emirates (UAE): Visa (NYSE:V), a world leader in digital payments, has unveiled…