banking

September 17, 2020

First Abu Dhabi Bank (FAB), has partnered with the Ministry of Finance (MoF) to launch a new range of eDirham contactless cards for governmental service fees. The eDirham was setup as a system of electronic channels capable of collecting service fees and revenue for the Federal Government via prepaid cards. The cards are issued in collaboration with FAB and other banks and include the Hala, Gold and Signature cards.

payit mobile wallet, powered by First Abu Dhabi Bank (FAB), has also partnered with the Ministry of Finance (MoF) to provide digital payments for governmental service fees, without the need of physical prepaid cards. The latest service"...

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September 17, 2020

DUBAI, 16th September, 2020 (WAM) -- Emirates NBD, a leading banking group in the Middle East, North Africa, MENA, region and Bank Leumi Le-Israel, one of Israel's leading banks, have signed a Memorandum of Understanding, MoU.

Emirates NBD’s Vice Chairman and Managing Director Hesham Abdulla Al Qassim and Group CEO Shayne Nelson formalised the MoU with Bank Leumi’s Chairman Dr. Samer Haj Yehia and President & CEO Hanan Friedman, in the presence of other senior officials.

One of Israel’s longest-standing banks, Bank Leumi previously served"...

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September 17, 2020

ABU DHABI, 16th September, 2020 (WAM) -- The Board of Directors of the Central Bank of the United Arab Emirates, CBUAE, today reviewed the new initiatives and continuous development plans which envisage the apex bank seeking to become one of the best in the world in line with the directives of H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, and the CBUAE Board Chairman.

This came at the bank's 8th board meeting this year at Qasr Al Watan today under the chairmanship of H.H. Sheikh Mansour and in the presence board members and a number of senior officials and bankers.

The"...

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September 16, 2020

Bank Leumi became the second Israeli lender after Hapoalim to have signed agreements with UAE banking giants to expand their presence in the second biggest economy of the region.

Israel's second-biggest bank said on Tuesday that it had signed memorandums of understanding (MoUs) with First Abu Dhabi Bank (FAB) and Emirates NBD to help strengthen bilateral relations between the UAE and Israel.

Israel's biggest bank Hapoalim signed an MoU with Emirates NDB on Monday.

According to the MoUs, the banks agreed to advance ties with financial institutions in both countries, providing services such as clearance, credit lines, and foreign currency trade.

Shmulik Arbel,"...

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September 16, 2020

ABU DHABI, 15th September, 2020 (WAM) -- Abdulhamid Saeed Alahmadi, Governor of the Central Bank of the UAE, CBUAE, has said that in light of the COVID-19 pandemic, central banks across the globe have played a fundamental role in promoting continued economic activity and safeguarding their respective banking and financial sectors.

''CBUAE will continue to work alongside central banks and monetary authorities to develop plans and policies aimed at swiftly and effectively responding to crises. In our supervisory role mandate, we shall continue to adhere to the Financial Action Task Force, FATF, standards in order to ensure the UAE’s"...

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September 14, 2020

Abu Dhabi 13th September, 2020 (WAM) -- Abdulhamid M. Saeed Alahmadi, Governor of the Central Bank of the United Arab Emirates (CBUAE), chaired the virtual meeting of the 44th Regular Session of Council of Arab Central Banks and Monetary Authorities Governors. He gave his opening remarks in the presence of governors and experts from various international authorities and institutions.

The meeting, which was organised by Arab Monetary Fund (AMF) highlighted key trends for central banks which include economic, financial and monetary impact of the COVID-19 pandemic and post-crisis requirements for policies and tools to boost the economy in the aftermath"...

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September 12, 2020

(WAM) -- Abdulhamid M. Saeed Alahmadi, Governor of the Central Bank of the UAE, CBUAE, yesterday participated as a lead speaker at the Meeting of Governors from Major Emerging Market Economies organised by the Bank for International Settlements, which was held via video conference.

The meeting was attended by Governors from across the globe to discuss policy response and medium term challenges arising from the COVID-19 pandemic in emerging markets.

Alahmadi opened his speech highlighting the important role of central banks in mitigating the repercussions of the crisis"...

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September 10, 2020

Companies in the UAE, especially small and medium businesses, can now secure bank loans by using their moveable properties as collateral in order to help them meet their cash-flow needs amidst tough situation due to the pandemic.

The UAE has issued Federal Law No.(4) of 2020, which expands the scope of including more assets that can be used as collateral and through other amendments that improve enforcement in the case of defaults.

Generally, small businesses find it tough to secure bank loans due to their size and lack of financial history.

The"...

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September 7, 2020

Boubyan Bank, Kuwait’s most innovative digital bank, teams up with IDEMIA, the global leader in Augmented Identity, to provide select customers with exclusive metal cards to mark the bank’s 15th anniversary.

Boubyan Bank have been trail blazers since their foundation. They have earned a number of international accolades, including Global Finance’s Best Islamic Digital Bank for the fifth year in a row. Furthermore, the bank continually raises the bar on Customer Service. This year, they have come away with two awards from Service Hero, the international consumer-driven customer service index, namely Country Winner in customer"...

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September 6, 2020

The UAE Cabinet has appointed the country's Minister of Industry and Advanced Technology as the new head of the state-owned Emirates Development Bank (EDB), the government said on Saturday.

Dr Sultan Al Jaber, who is also Abu Dhabi National Oil Company's group chief executive, was named chairman, according to a tweet by the UAE Government Communication Office.

The decision backs efforts aimed at 'contributing to the economic and social development in the UAE and providing financial services for industrial, real estate and commercial enterprises in a way"...

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