UAE: RAKBank makes first cross-border payment using mBridge The trade, facilitated through CBUAE’s innovative mBridge platform, instantaneously transferred Digital Dirham against digital Chinese Yuan
UAE bank fined Dh5.8 million over anti-money laundering violationsThe regulator said that sanctions were imposed after an examination found that the bank had deficiencies in its AML/CFT policies and procedures
UAE, GCC banks show strong appetite for expansion to Turkey, Egypt and IndiaFitch cautioned that the increasing cost of acquiring banks in these countries could weigh on Gulf banks' acquisition plans
Salary delayed? Top UAE bank says issues related to payments ‘nearing resolution’The lender said it 'immediately contacted the affected customers' as soon as it got to know about the disruption
Dubai: Will customers pay more after 20% new tax on foreign banks?While finance houses could revise their fees to manage profit margins, the competitive nature of the banking sector might limit their ability
Jaywan in UAE: Soon, all debit cards to be issued with new payment solutionThe cards are to be issued to residents who have bank accounts or to those who are banking with exchange houses
UAE banks' credit growth slightly slowing down in 2024Global rating agency says high interest rates and reduced non-oil sector activity slowed credit growth in the last quarter of 2023
UAE: Top bank will not update customers’ details at branches from February 2024Its branches will no longer accept requests to update mobile numbers, email IDs, mailing, address and identification documents of the customers
Citi to cut 20,000 jobs through 2026, swings to $1.8 billion lossThe group with 239,000 employees worldwide will reduce the number in two years
UAE: Loan, credit card interest rates set to dropThis comes amidst a drop in inflation in the United States – the world’s largest economy