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Emirates NBD

UAE’s biggest banks mull overseas acquisitions

As domestic loan growth wanes, the UAE’s top two banks are eyeing foreign acquisitions to bolster their income.  First Abu Dhabi (FAB) and Dubai’s Emirates NBD are majority owned by their respective emirates’ governments or ruling families and are ranked second and sixth in the Middle East and Africa in terms of bank assets, according […]

Mir payment cards

Arab banks shun Russian Mir payments system after pressure

Along with losing ground on the battlefield in recent weeks, Moscow’s foothold in the Arab world’s financial system has also hit setbacks. Turkey’s finance minister Nureddin Nebati last Thursday announced that three state banks – Vakifbank, Ziraat Bank and Halkbank – had suspended the use of the Russian Mir payment system which is the country’s […]