Company’s massive R&D investment underlines its continuing commitment to the banking industry

Tapas Roy, Chief Operating Officer, Raqmiyat

Raqmiyat, a leading UAE-based systems integrator, has launched ‘ICCS Connect’, the web version of its ‘Image-based Cheque Clearing Solution’ (ICCS) for banks in the UAE, with the first customer shipment targeted for January 2010. Built on Microsoft.Net technology, the new web-based version will provide banks with increased operational efficiency, simplified deployment capability, and additional features and workflows. Read the full story

Total assets stand at AED 82.9 billion; deposits touch AED 66.1 billion

His Excellency Mohammed Ibrahim Al Shaibani, Director-General of His Highness The Ruler’s Court of Dubai and Chairman of Dubai Islamic Bank

Dubai Islamic Bank (DIB) announced today its financial results as of September 30, 2009, demonstrating its resilient operations and robust core business despite global challenges facing the financial services sector.

The bank reported a net profit of AED 1.12 billion for the first nine months of 2009, continuing the trend of positive performance in the year to date. In line with its long-term prudent and conservative approach, DIB has made impairment provisions of AED 403 million for the same period, impacting its net profitability. Read the full story

• Bank to use Credit Scope to mitigate risk; calls for greater information sharing and increased transparency

• Joins Emcredit’s growing member base

In a move to enhance its risk management policies, Emirates Islamic Bank (EIB) has signed an agreement with Emcredit to avail of its credit information reporting services. This announcement was made today by Emcredit, the UAE’s first government-backed credit bureau.

Through Emcredit’s Credit Scope, which provides factual records of a company’s or individual’s credit history, Read the full story

Part of efforts to expand “Direct Debit” platform

Dubai eGovernment has announced the inclusion of two more banks, Dubai Islamic Bank and Abu Dhabi Islamic Bank, to its ePay gateway during the GITEX Technology Week 2009 running until the 22nd of October. The banks now allow their clients to electronically pay dues incurred on e-services anytime and anywhere through the gateway’s ‘Direct Debit’ facility. Read the full story

• Organised in collaboration with Mashreq Bank

• Al Ghurair: The Award offers an ideal opportunity for young entrepreneurs to become distinguished businessmen locally and internationally

Mohammed Bin Rashid Establishment for Small and Medium Size Enterprises, today, launched the fifth edition of Small and Medium Enterprises Award. Read the full story

Company’s ‘WPS Connect’ solution complies with latest Central Bank ‘Process Document’

Nilesh Sarker, Assistant Vice President for Banking and Finance, Raqmiyat

Raqmiyat, a leading UAE-based systems integrator, has announced that it is gearing up to deploy its ‘Raqmiyat - WPS Connect’ – a new solution designed to work with the UAE Central Bank’s ‘Wages Protection System’ Read the full story

Above JP Morgan, UBS, Soceite Generale and Credit Suisse

National Bank of Kuwait (NBK) has been named, for the second consecutive time, one of the world’s safest banks in 2009 by the leading US-based Global Finance. NBK is the only GCC and Arab financial institution Read the full story

In line with its strategy of developing unique and innovative financing solutions to meet different customer needs, Al Yusr Islamic banking service of IBQ announced today the launch of its latest Sharia-compliant financing product.

Read the full story

• Bank sponsors Ramadan Forum, organises community Iftars

• Holds special Suhour for Royal Banking customers

• Hosts series of special events for bank staff

Mohamed Amiri, Head of Retail Banking at Dubai Bank

Dubai Bank, an innovative financial institution dedicated to the principles of Shari’a, Read the full story

• Total assets stand at AED 87.8 billion

• Deposits touch AED 71.5 billion

His Excellency Mohammed Ibrahim Al Shaibani, Director-General of His Highness The Ruler’s Court of Dubai and Chairman of Dubai Islamic Bank

Dubai Islamic Bank (DIB) announced today its financial results for the first half of this financial year ending 30 June 2009, Read the full story