New Saudi company to facilitate GCC wire transfers

The development comes following a Reuters report in December that the UAE’s central bank governor Mubarak Rashed al-Mansouri had confirmed plans to issue a digital currency for cross-border transactions between the UAE and Saudi Arabia.


ACC quizzes three AB Bank officials

The three officials are Head of Corporate Treasury Mohammad Mahfuz Ul Islam, Head of Offshore Banking Unit Mohammad Lokman, and Senior Vice President MN Azim.


Dubai Property Rebound Fails to Materialise

Optimism about a recovery in 2017 has given way to quiet resignation that the slump may persist for two to three years after oil price increases, key to the Persian Gulf sheikhdom’s economy, failed to spark an expected jobs boost.