UAE’s first digital bank Dubai’s biggest bank says Liv. Emirates NBD, Dubai’s first investment bank qatar bank, on Thursday announced the launch of Liv. UAE’s first digital bank targeted at millennials.
It said in a statement that Liv. We are proud to unveil Liv. As against incrementally improving a traditional banking experience, Liv. With this new launch, the bank further builds on its role as a leader in providing smart banking services in the UAE.
They can then deposit funds into their accounts immediately using any bank debit card they hold. Following this, customers can carry out routine transactions like local fund transfers and paying bills, free of any fees. Customers then become eligible to receive a Liv. ATM cash withdrawals and purchases at any outlet or online. We hope to build a dynamic brand that will resonate with the values and aspirations of like-minded customers and capture their hearts.
The beta version of the app will be made available to select customers in phases, starting next week on the Android operating platform followed by iOS. Subscribe to Arabian Business’ newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox. First Abu Dhabi Bank, the largest bank in the United Arab Emirates, expects to enter Saudi Arabia’s banking market in 2018, a senior executive said on Sunday. The bank has applied for a commercial banking licence in the kingdom, Karim Karoui, the bank’s group head of subsidiaries, strategy and transformation, told reporters. FAB, created by last year’s merger between National Bank of Abu Dhabi and First Gulf Bank, recently was given the go-ahead by Saudi Arabia’s regulator to conduct arranging and advising activities in the securities sector. The move comes as other international banks have also increased their presence in the kingdom in recent months including Goldman Sachs and Citigroup. James Burdett, FAB’s group chief financial officer said, the bank’s plan to issue sukuk or Islamic bonds will depend on market conditions.
With 189 member countries, staff from more 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. The World Bank Group works in every major area of development. We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face. We face big challenges to help the world’s poorest people and ensure that everyone sees benefits from economic growth. Data and research help us understand these challenges and set priorities, share knowledge of what works, and measure progress.
The economy is gradually improving with the annual rates of GDP growth reaching 4. The overall budget deficit declined in the first half of FY17 to 5. 4 percent of GDP, down from 6. 4 percent in the same period last year.
The implementation of reforms along with the gradual restoration of confidence and stability are starting to yield positive results. Scaling up the targeted Takaful and Karama cash transfer Program. Karama is a categorical cash transfer program for poor elderly people and those with disabilities. Initially rolled out in Upper Egypt with a target of 1. 5 million households met in March 2017, the program has been expanded nationwide and scaled up to reach 1.
Egyptian households, especially the poor and the vulnerable segments of the population as well as the middle class. Unemployment continues to be high at 12. 4 percent in the final quarter of the calendar year 2016, and rates are higher among youth and women. Egypt was approved on December 17, 2015. This CPF presents an important departure from previous WBG strategies for Egypt. The CPF supports a transformative program to renew the social contract to support private sector job creation, social inclusion, and enhanced governance. The Bank intends to use a programmatic approach, including finance and knowledge, use analytic products strategically to underpin policy dialogue and project design, and deploy the WBG’s convening power to promote advocacy and reforms.
World Bank Board on December 20, 2016. In addition to a special focus on youth and women, as well as under-served regions, innovative financing mechanisms have been introduced in the Social Fund for Development including venture capital mechanisms. The program rehabilitated 9,000 classrooms, 162 social units, 249 youth centers, 3,150 km of canals, 2,642 houses of poor families, 170 km of rural roads upgrading and protection of 72 km of Nile River Banks. Over 850,000 families received maternal and child healthcare visits from community health promoters and over 50,000 individuals benefited from literacy services. The project has helped launch the cash transfer programs Takaful and Karama in April 2015 in Egypt’s most lagging regions.