Search Results for: UAE Central Bank
Central Bank of the UAE and ADGM sign MOU to enhance Banking & Financial supervision
February 8th, 2016
The Central Bank of the UAE and the Financial Services Regulatory Authority of Abu Dhabi Global Market (ADGM) signed a Memorandum of Understanding on 4 February 2016 to formalise a framework to enable ongoing cooperation on the supervision of ...
Standard Chartered Bank fined for poor AML controls
April 25th, 2019
The Financial Conduct Authority (FCA) has fined Standard Chartered Bank (Standard Chartered) £102,163,200 for Anti-Money Laundering (AML) breaches in two higher risk areas of its business. This is the second largest financial penalty for AML controls failings ever imposed ...
Top Islamic bank uncovered internal fraud worth millions
April 30th, 2018
Abu Dhabi’s Al Hilal Bank has uncovered internal fraud as employees helped to steal over $170 million, most now retrieved. Al Hilal Bank PJSC, a top Islamic bank headquartered in Abu Dhabi, has uncovered internal fraud worth more than ...
Which Gulf country’s banking sector is the top in assets volumes
March 9th, 2017
The UAE’s banking sector came first on the list of the banking sectors in terms of asset volume in the GCC region, with a total value of about US$711 billion, over (AED2. 61 trillion) in 2016, according to statistics ...
Italy found a solution for its troubled banks
February 16th, 2017
Italy’s parliament approved a law to plow as much as 20 billion euros ($21 billion) into Banca Monte dei Paschi di Siena SpA and other troubled banks as part of the nation’s efforts to revamp its banking industry. The lower ...
Italy seeks to borrow 20 bln euros to prop up banking sector
December 20th, 2016
The Italian government decided on Monday to seek parliamentary approval to borrow 20 billion euros to underwrite the stability of its wobbly banking sector, starting with a likely bail-out of No. 3 lender, Monte dei Paschi di Siena, as ...
Cashless payments get easier in the UAE
September 1st, 2016
Making payments through mobile phones is not a dream anymore, as sixteen banks have become equity partners in an entity which will own and operate mWallet platform. The mWallet or mobile wallet platform is the financial component of the UAE Government’s Smart ...
Saxo Bank continues MENA region build-out with key management appointments
August 23rd, 2016
Saxo Bank, the online investment and trading specialist, announces today two senior appointments as it continues to grow and invest in its retail and institutional functions across the Middle East, reflecting the region’s importance as a growth hub for ...
TeleTradeBel, MTBank pass requirements for forex trading software, MTBank to apply for forex broker registration
July 4th, 2016
TeleTradeBel, the Belarusian arm of forex brokerage TeleTrade Group, and lender MTBank have become the first entities to pass the requirements of the Belarusian Currency Stock Exchange (BCSE) regarding financial software for forex trading on the over-the-counter (OTC) market, according to a ...
Italy Forms $5.7 Billion Fund to Shake Off Doubts in Banks
April 12th, 2016
Fund to help weakened banks sell shares and unload bad loans Atlante fund managed by Quaestio Capital investment firm Italian officials and bank executives agreed to create a multibillion-euro fund to help troubled lenders raise capital and offload bad ...
