Middle East and North Africa

Middle East and North Africa

UAE Unveils Golden Card Permanent Residency Scheme

The UAE has launched a golden card permanent residency programme, granting 6,800 permits to foreigners who together have invested AED 100 billion ($27 billion). Sheikh...

Dubai Islamic Economy Development Centre Expands European Reach

A roundtable in Malta has provided Dubai Islamic Economy Development Centre, DIEDC, an opportunity to expanding the footprint of Islamic economy in Europe, as...

Nearly $1 trillion GCC Bank Mergers Under Way

The UAE leads the pack with highest number of bank mergers both in terms of value and volume. GCC banking sector is undergoing major consolidation...

S&P Report Says IFSB Proposal on Sharia-Compliant Lender of Last Resort...

By Michelle James The IFSB's proposal on Sharia-compliant LOLR facilities could help boost the stability of the Islamic banking industry by minimizing banks' exposure to...

Mobile Wallets Reshape Payments in UAE

Acceptance of mobile wallets in the UAE is growing as consumers become spoilt for choice when it comes to payment options. With a simple tap...

Saudi Arabia Fines 16 Banks, Including Its Biggest Islamic Bank

Saudi Arabia's central bank on Sunday fined 16 banks, including a UAE bank and some of the Kingdom's largest banks, for violating its laws...