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EIBOR
The Emirates Interbank Offered Rate (EIBOR), also abbreviated as EBOR, is a daily reference rate, published by the UAE Central Bank, based on the averaged interest rates at which UAE banks offer to lend unsecured funds to other banks in the United Arab Emirates dirham wholesale money market (or interbank market). Calculation and Tenors As of 29 May 2015 fixing is conducted each business day excluding Saturdays at 11AM UAE time. The fixing rate is the average of the contributions excluding the two highest and two lowest contributions for each tenor. As of 10 December 2013 the following tenors are calculated: * Overnight * 1 Week * 1 Month * 3 Months * 6 Months * 12 Months Contributing Banks As of January 2017 the following banks contribute to EIBOR: * Abu Dhabi Commercial Bank * Commercial Bank Of Dubai * EmiratesNBD * First Gulf Bank * HSBC Bank Middle East * MashreqBank * National Bank Of Abu Dhabi * National Bank Of Fujairah * RAKBANK * Standard Chartered Bank * Union Na ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank Of The United Arab Emirates
The Central Bank of the United Arab Emirates ( ar, مصرف الإمارات العربية المتحدة المركزي) (also known as Central Bank of the UAE or simply CBUAE) is the state institution responsible for managing the currency, monetary policy and banking regulation in the United Arab Emirates. History The predecessor of the central bank was the Currency Board which was established on 19 May 1973. This followed the creation of the UAE as an independent state in 1971. The original purpose of the UAE Currency Board was to issue an independent currency for the new state to replace the existing currencies in use: the Qatari riyal and the Bahraini Dinar. The new UAE dirham entered circulation on the same day the Currency Board was established. At this time, the Currency Board of the UAE did not have full central bank powers. It was mandated to manage the currency and the country's gold and foreign exchange reserves, but did not have regulatory authority and was not ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Arab Emirates
The United Arab Emirates (UAE; ar, اَلْإِمَارَات الْعَرَبِيَة الْمُتَحِدَة ), or simply the Emirates ( ar, الِْإمَارَات ), is a country in Western Asia ( The Middle East). It is located at the eastern end of the Arabian Peninsula and shares borders with Oman and Saudi Arabia, while having maritime borders in the Persian Gulf with Qatar and Iran. Abu Dhabi is the nation's capital, while Dubai, the most populous city, is an international hub. The United Arab Emirates is an elective monarchy formed from a federation of seven emirates, consisting of Abu Dhabi (the capital), Ajman, Dubai, Fujairah, Ras Al Khaimah, Sharjah and Umm Al Quwain. Each emirate is governed by an emir and together the emirs form the Federal Supreme Council. The members of the Federal Supreme Council elect a president and vice president from among their members. In practice, the emir of Abu Dhabi serves as president while the ruler of Dub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Arab Emirates Dirham
The dirham (; ar, درهم إماراتي, abbreviation: د.إ in Arabic, Dh (singular) and Dhs (plural) or DH in Latin; ISO code: AED) is the official currency of the United Arab Emirates. The dirham is subdivided into 100 . History The name '' dirham'' is a loan from greek δραχμή (drakhmé). Due to centuries of trade and usage of the currency, ''dirham'' survived through the Ottoman Empire. Before 1966, all the emirates that now form the UAE used the Gulf rupee, which was pegged at parity to the Indian rupee. On 6 June 1966, India decided to devalue the Gulf rupee against the Indian rupee. Not accepting the devaluation, several of the states still using the Gulf rupee adopted their own or other currencies. All the Trucial States except Abu Dhabi adopted the Qatar and Dubai riyal, which was equal to the Gulf rupee prior to the devaluation. These emirates briefly adopted the Saudi riyal during the transition from the Gulf rupee to the Qatar and Dubai riyal. Ab ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Abu Dhabi Commercial Bank
Abu Dhabi Commercial Bank PJSC ( ar, بنك أبوظبي التجاري) (), commonly called ADCB, is a bank in the United Arab Emirates. Abu Dhabi Commercial Bank (ADCB) was formed in 1985 as a public shareholding company with limited liability, following the mergers between Emirates Commercial Bank, Federal Commercial Bank, and Khaleej Commercial Bank, which was established in 1975. The Government of Abu Dhabi through the Abu Dhabi Investment Council (ADIC) holds 62.52% of ADCB shares; the remainder is held by other institutions and individuals. ADCB is the third-largest bank in the UAE in terms of balance sheet size and offers a range of commercial and retail banking services to its customers. As of 30 September 2018, it employs over 5000 people serving retail and corporate clients. Aside from 56 branches in the UAE, it has 1 branch in Jersey. It also operates out of representative offices in Singapore and London. In January 2019, a 3 bank merger was announced between ADCB ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commercial Bank Of Dubai
Commercial Bank of Dubai (CBD) is a UAE banking and financial services corporation headquartered in Deira, Dubai. With more than in assets, '' Gulf Business'' listed CBD as the 7th largest bank in the UAE, based on total assets. It also figures in the Dubai Financial Market index. History CBD was founded in 1969, by an Amiri Decree issued by the late Rashid Bin Saeed Al Maktoum. What started out as a joint venture of Commerzbank, Chase Manhattan Bank and Commercial Bank of Kuwait, evolved into a National Public shareholding company by 1982. 80% of its shares are held by UAE nationals, while the other 20% are owned by Investment Corporation of Dubai Investment Corporation of Dubai is a sovereign wealth fund of the Government of Dubai established in 2006, with a mandate to invest funds on behalf of the Government of Dubai, and manage their portfolio of investment companies. At 2022, ICD rep ... (an investment division of the Dubai Government). CBD provides Wholesale, Co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Emirates NBD
Emirates NBD Bank PJSC is Dubai's government-owned bank and is one of the largest banking groups in the Middle East in terms of assets. History and profile Emirates NBD was initially formed as National Bank of Dubai (NBD) on 19 June 1963 by then Dubai's ruler Sheikh Rashid bin Saeed Al Maktoum, forming the first national bank established in Dubai. NBD merged with Emirates Bank International (EBI) on 6 March 2007, to form Emirates NBD. On 16 October 2007, the shares of Emirates NBD were officially listed on the Dubai Financial Market (DFM). On 1 December 2012 Dubai Bank was acquired by Emirates NDB. As of 31 December 2020, total assets were AED 698 billion, deposits of AED 464 billion, the total income of AED 23.21 billion, and a net profit of AED 7 billion. The Group has operations in the UAE, Egypt, India, Saudi Arabia, Singapore, the United Kingdom, and representative offices in China and Indonesia. On October 7, 2022, Emirates NBD Bank PJSC sold 86,316,964 ordinary shares o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
First Gulf Bank
FGB (formerly known as First Gulf Bank) was the third largest bank by assets in the United Arab Emirates (UAE), until it merged with the National Bank of Abu Dhabi in December 2016 to form First Abu Dhabi Bank, creating the largest bank by assets in the UAE. Established in 1979, FGB is headquartered in the Emirate of Abu Dhabi. FGB offers a wide range of financial services in the wholesale, consumer and treasury banking sectors, including Islamic banking and bancassurance solutions for businesses and consumers via a network of branches across the UAE. Internationally, FGB has a branch in Singapore - that includes global wealth management services and a branch in Qatar, representative offices in London, India, Hong Kong and Seoul, South Korea, and a subsidiary in Libya. In 2013, the bank restructured its business into three divisions: the Wholesale Banking Group, the Consumer Banking Group and the Treasury & Global Markets Group. In the same year, FGB also announced that it had ac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
HSBC Bank Middle East
HSBC Bank Middle East Limited is the largest and most widely represented international bank in the Middle East. History The Imperial Bank of Persia (Persian: بانک شاهنشاهی ایران; Bank-e Šâhanšâhi-ye Irân) was a British bank that operated as the state bank and bank of issue in Iran (formerly known as Persia until 1935) between 1889 and 1929. It was established in 1889 with a concession from the Persian government to Baron Julius De Reuter (born Israel Beer Josaphat), a German Jewish banker and businessman who later became a Christian and a British subject. The bank was the first modern bank in Iran and introduced European banking ideas to a country in which they were previously unknown. The legal centre of the bank was in London and whilst it was subject to British law, its activities were based in Tehran. It also had operations in other Middle Eastern countries. In 1952, the bank abandoned the Iranian market and it was later renamed British Bank of the M ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mashreq (Bank)
Mashreqbank PSC (Arabic: ''Orient Bank'') is the oldest privately owned bank in the United Arab Emirates. It was founded as the Bank of Oman in 1967. Today Mashreq provides conventional and Islamic personal banking services including deposits, loans and credit cards; conventional and Islamic investment banking services including corporate finance and investment advisory on mergers and acquisitions, initial in public offering and underwriting; conventional and Islamic asset management services including wealth management. Mashreq has 12 overseas offices in nine countries, including Europe, the United States, Asia and Africa. See also * Islamic banking Islamic banking, Islamic finance ( ar, مصرفية إسلامية), or Sharia-compliant finance is banking or financing activity that complies with Sharia (Islamic law) and its practical application through the development of Islamic econom ... * Noor Bank * Emirates NBD References External linksMashreqbank profileon ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Bank Of Abu Dhabi
National Bank of Abu Dhabi (NBAD) ( ar, بنك أبوظبي الوطني) was a bank operating in the United Arab Emirates (UAE) until it merged with the First Gulf Bank in December 2016 to form First Abu Dhabi Bank. NBAD was the largest lender bank in the Emirate of Abu Dhabi and in the United Arab Emirates. NBAD had the largest market capitalization among UAE banks. NBAD's line of businesses included a whole range of retail banking, corporate, wholesale and investment banking, wealth management and private banking; as well as Islamic banking, brokerage, property management and leasing. In 2015 NBAD set up a regional financial base in India as part of its overseas expansion strategy, NBAD had regional presence in Kuala Lumpur, Hong Kong and a representative office in Shanghai, China. The bank was also expanding to the South Korean market to expand its presence in Asia. In October 2012, the bank announced that it is planning to triple its contribution from Islamic banking by intro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Bank Of Fujairah
National Bank of Fujairah is a full-service corporate bank that offers corporate and commercial banking, treasury and trade finance services, personal banking options, and Shari’a-compliant services. The bank is rated Baa1/Prime-2 for deposits and A3 for counterparty risk assessment by Moody’s and BBB+/A-2 by Standard & Poor’s, both with a stable outlook. It is listed on the Abu Dhabi Securities Exchange Abu Dhabi Securities Exchange (A.D.X.; formerly Abu Dhabi Securities Market (ADSM); ar, سوق أبو ظبي للأوراق المالية) is a stock exchange in Abu Dhabi, United Arab Emirates (UAE). Listed companies by sector List provided b ... under the symbol “NBF”. Business focus National Bank of Fujairah provides corporate banking, business banking, personal banking services along with trade finance, treasury, cash management, precious metals and diamonds and Islamic banking support. In 2017, the bank was the first conventional bank to join Nasdaq Dubai’ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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