Global credit rating agency Fitch has upgraded Sharjah Islamic Bank’s (SIB) Viability Rating. The new rating was announced as part of the first Fitch Ratings peer review of the UAE banking sector. The report affirmed the Long-term and Short-term Issuer Default Ratings (IDR) of nine UAE banks, plus the Viability Ratings (VR) of eight other banks. Sharjah Islamic Bank’s VR ...

Sharjah has invested nearly AED1.5 billion (USD 408 million) on 21 projects started in celebration of the Emirate’s selection as the Islamic Culture Capital for 2014. The projects fall under a wide variety of Sharjah institutions and city landmarks including new universities, monuments, Islamic parks, traditional markets, museums and libraries. Sheikh Sultan bin Ahmed Al Qassimi, Chairman of the Executive ...

The UAE’s Gross Domestic Product (GDP) grew by four percent during 2013, according to recent statements by the UAE Minister of Economy His Excellency Sultan Bin Saeed Al Mansouri , whilst growth across the nation’s non-oil sector remains strong. The GDP calculated by the International Monetary Fund (IMF), is one of many statistics released during the past year highlighting positive ...