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Emirates 24|7

The UAE residents who want to switch their jobs must pay their traffic fines first as new smart system will not allow them to finalise the residency transfer. Lt. Colonel Faisal Mohammed Al Shimmari, Executive Director of the Ministry of Interior’s Smart Government Programme, pointed out that residents who wish to transfer their residency must first pay their traffic fines, as the electronic or smart system will not allow them to finalise the residency transfer from one job to another until all fines have been paid… He added that customers can also utilise the ePayment feature to safely and securely pay through bank accredited cards, empowered by the online payment option, as the system on the website and smartphones application supports cards such as Visa, MasterCard, and e-Dirham.

Gulf News

Abu Dhabi: The Central Bank of the UAE held a strategy retreat with senior Central Bank executives and technical staff, and attended by the Governor and members of the higher management team. The meeting discussed and set-up the Central Bank’s strategic direction within the UAE Federal Government’s 4th Strategic Cycle-2017-2021; the last strategic cycle towards UAE 2021 Vision, which envisages the UAE seeking to become one of the best countries in the world by 2021. 
Under the supervision of the Strategy & Institutional Excellence Unit, a wide segment of Central Bank staff contributed to an extensive discussion of results of the work environment analysis.

Gulf News

Dubai: Third quarter results reported by leading UAE banks point to a gradual slowdown in lending, profit growth and some signs of weakening credit quality. While nine month figures show continued growth in earnings supported by both interest and non-interest income, a closer look at the quarterly performance point to the emerging challenges in the banking sector. Emirates NBD (ENBD) reported a nine-month net profit of Dh5 billion up 27 per cent year on year, but the bank’s third quarter profits were up by a much more modest growth of 7 per cent year on year and a quarter on quarter growth of 2 per cent on second quarter. National Bank of Abu Dhabi (NBAD) reported net profits of Dh1.32 billion in the third quarter of 2015, down 3 per cent year on year and 8 per cent sequentially.

Gulf News

Dubai: Banking sector liquidity is becoming tighter as governments and government-related entities (GREs) continue to draw down their deposits in the banking system. While tighter liquidity in the banking system may result in a slowdown in credit growth to the private sector, economists do not expect the governments’ fund demand to crowd out funding for the private sector. “On the contrary, I believe if the government continues to spend, using its reserves and or through deficit financing, the private sector stands to benefit,” said Marios Maratheftis, chief economist of Standard Chartered. Going forward some analysts expect slow down in credit growth and credit quality to impact bank balance sheets in the UAE.

Gulf News

Dubai: A projected slowdown in economic growth across the Middle East region, particularly in the GCC countries is expected to impact earnings of investment banks. Amidst sharp decline capital market activity in terms of bond /sukuk issuance, initial public offerings and relatively low level of loan syndication deals, investment banking divisions of many banks are facing prospect of restructuring and layoffs. Earlier this month there were unconfirmed reports of BNP Paribas is considering job cuts in the Middle East as its investment banking business in the region slows.

Gulf Today

DUBAI/BAHRAIN: The World Islamic Banking Conference (WIBC) and EY hosted a press conference to discuss the key strategic imperatives for the industry on Sunday in Bahrain. Held exactly one month ahead of the 22nd Annual World Islamic Banking Conference, the press conference was an opportunity for EY to highlight key strategic insights from the much-awaited EY World Islamic Banking Competitiveness Report 2015-2016. The report has for several years been a key feature at the annual WIBC, which is globally renowned for being, among other things, a platform for cutting-edge thought leadership and intelligence for the past 22 years.

Khaleej Times

The UAE and Qatar both feature in the top 10 list for nation brand strength, placing third and ninth respectively, according to Brand Finance's 'October 2015 Nation Brands' report. The report recorded Singapore as the world's strongest nation brand in 2015, followed by Switzerland. Singapore is now seen as modern, innovative, industrious, welcoming to outsiders, culturally rich and has left its neighbours, including Malaysia, far behind. Tourism was found to be the weakest point of Singapore's brand strength score. However, it is steadily being improved upon by the 'Your Singapore' campaign, which seeks to showcase Singapore's variety by allowing people to craft a personalised experience.

Gulf Today

DUBAI: Dubai Financial Market (DFM) on Sunday announced it has signed a Memorandum of Understanding (MoU) with the Government of Dubai’s Department of Finance (DoF), which will enable investors to make payments of IPO subscriptions in the future via the ePay Portal of Dubai Smart Government (DSG). The agreement underlines DFM’s commitment to collaborate with various organizations in order to provide market participants with smart and cutting-edge services in line with the vision and directions of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai. This step will further boost the success of DFM’s “eIPO” platform, the sophisticated and efficient solution for IPO subscription directly linked with the receiving banks.

Page last updated : 02/05/2016 10:18 PM