Latest news with #EmiratesNBD
Time of India
16 hours ago
- Business
- Time of India
No more free remittances for NBD customers starting September: What expats need to know
Emirates NBD's DirectRemit service allows customers to send quick, digital international money transfers to supported countries, previously free of charge but now subject to a fixed Dh26.25 fee/ Image:X Emirates NBD, one of the largest banking groups in the UAE, has officially announced that it will begin charging customers a fixed fee of Dh26.25 (₹598.50) ($7.15) (inclusive of VAT) for international money transfers made through its DirectRemit service. This change will take effect from Monday, September 1, 2025, and marks a significant shift in the bank's longstanding policy of offering free remittances to selected countries. The update was shared in an email sent to customers, in which the bank stated: 'Effective Monday, September 1, 2025, charge of Dh26.25 will be applicable for International Transfers (Including DirectRemit) remittance service initiated from ENBD X or Online Banking. The fee is inclusive of VAT.' What's Changing? Previously, Emirates NBD customers enjoyed instant and fee-free money transfers to banks in countries considered part of the bank's "popular remittance corridor." These included India, the Philippines, Egypt, Sri Lanka, and the United Kingdom, with a minimum transfer amount of Dh100. Starting in September, the Dh26.25 charge will apply uniformly across all international transfers initiated via: The ENBD X mobile app The bank's online banking platform This effectively ends the free transfer benefit previously associated with DirectRemit, the bank's digital remittance tool that allowed cross-border transactions to be completed in less than 60 seconds. Additionally, the bank has introduced a cancellation fee of up to Dh26.25 for recall or cancellation of any local or international transfers, bringing another layer of change to its remittance services. This applies whether the transaction is completed or pending. How Does It Compare to Other UAE Banks? International wire transfer fees across UAE banks generally range from Dh20 to Dh60, depending on the channel and destination. With this fee update, Emirates NBD is aligning DirectRemit with the industry standard applied to most other international transfers offered by UAE-based banks. No other changes have been announced to the exchange rate margins or processing times associated with DirectRemit. The core functionality of the service, quick, digital cross-border money transfers—remains unchanged aside from the new fee. Advice to Customers Customers are encouraged to: Review their recent transfer history to assess how the new fee structure will impact their remittance habits Compare rates and fees with other available remittance services in the market Stay informed through official bank channels for any future changes or updates This adjustment signals Emirates NBD's broader move to standardize its digital banking offerings, bringing them in line with conventional cross-border transfer practices within the UAE banking sector.
Khaleej Times
20 hours ago
- Business
- Khaleej Times
UAE: No free remittances for Emirates NBD customers from September
Emirates NBD on Friday said that it will implement a fee for international transfers made via the app or online banking. In an email sent to customers, the major bank said that starting September 1, 2025, customers will be charged Dh26.25 for remittances, including those done by DirectRemit. DirectRemit is a digital money transfer service that allows Emirates NBD customers to make remittances to India, the Philippines, Pakistan, Sri Lanka, Egypt and the United Kingdom in less than 60 seconds. Remittances through this service are currently charged Dh0 in fees, as can be seen below: The bank will also be charging a fee for cancelling local or international transfers. Here's the updated list:
Yahoo
a day ago
- Business
- Yahoo
Turkcell Subsidiary Secures €100 Million Islamic Financing to Boost Data Center, Cloud Expansion
Turkcell Iletisim Hizmetleri (NYSE:TKC) is one of the best telecom stocks to buy according to Wall Street analysts. Towards the end of May, Turkcell announced that its subsidiary, called TDC Veri Hizmetleri (or simply TDC), secured €100 million in murabaha financing. The 5-year financing agreement was made with Emirates NBD Bank, which is a banking group in the Middle East and Türkiye MENAT region. The murabaha financing adheres to interest-free Islamic finance principles and helps TDC support its position in the data center and cloud business. The funds empower Turkcell Group's data center investments via TDC, accelerate its digital infrastructure initiatives, and align with its long-term growth objectives. A mid-rise office building bustling with employees working on various telecom projects. Turkcell prioritizes the development of high-capacity and eco-friendly data centers for cloud computing, AI, and big data demands. This approach aligns with the company's national digitalization goals. Turkcell Group offers a portfolio of voice, data, and IPTV services across its mobile and fixed networks, in addition to digital consumer, enterprise, and techfin services. Turkcell Iletisim Hizmetleri (NYSE:TKC) provides converged telecommunication and technology services in Turkey, Belarus, the Turkish Republic of Northern Cyprus, and the Netherlands. While we acknowledge the potential of TKC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
a day ago
- Business
- Yahoo
3 Middle Eastern Dividend Stocks Yielding Up To 7.9%
As Gulf shares rise amid a holding ceasefire between Israel and Iran, Dubai's stock index has reached a 17-year high, reflecting the region's buoyant market sentiment. In this environment of stability and growth, dividend stocks become particularly attractive for investors seeking steady income streams while capitalizing on favorable market conditions. Name Dividend Yield Dividend Rating Saudi Telecom (SASE:7010) 9.69% ★★★★★☆ Saudi National Bank (SASE:1180) 5.56% ★★★★★☆ Saudi Awwal Bank (SASE:1060) 6.01% ★★★★★☆ Riyad Bank (SASE:1010) 6.42% ★★★★★☆ National Bank of Ras Al-Khaimah (P.S.C.) (ADX:RAKBANK) 7.35% ★★★★★☆ Emirates NBD Bank PJSC (DFM:EMIRATESNBD) 4.35% ★★★★★☆ Emaar Properties PJSC (DFM:EMAAR) 7.43% ★★★★★☆ Commercial Bank of Dubai PSC (DFM:CBD) 5.81% ★★★★★☆ Arab National Bank (SASE:1080) 6.03% ★★★★★☆ Anadolu Hayat Emeklilik Anonim Sirketi (IBSE:ANHYT) 7.62% ★★★★★☆ Click here to see the full list of 76 stocks from our Top Middle Eastern Dividend Stocks screener. We're going to check out a few of the best picks from our screener tool. Simply Wall St Dividend Rating: ★★★★★☆ Overview: Anadolu Hayat Emeklilik Anonim Sirketi offers individual and group insurance and reinsurance services in life, retirement, and personal accident sectors in Turkey, with a market cap of TRY32.79 billion. Operations: Anadolu Hayat Emeklilik Anonim Sirketi generates revenue through its individual and group insurance and reinsurance services in the life, retirement, and personal accident sectors within Turkey. Dividend Yield: 7.6% Anadolu Hayat Emeklilik Anonim Sirketi offers a compelling dividend yield of 7.62%, ranking in the top 25% of Turkey's market. Despite an unstable and volatile dividend history over the past decade, recent dividend growth is notable. The company's dividends are sustainably covered by earnings (56.6% payout ratio) and cash flows (36.5% cash payout ratio). With a low price-to-earnings ratio of 7.4x compared to the market, it presents good value for investors seeking income opportunities in the Middle East region. Dive into the specifics of Anadolu Hayat Emeklilik Anonim Sirketi here with our thorough dividend report. Upon reviewing our latest valuation report, Anadolu Hayat Emeklilik Anonim Sirketi's share price might be too pessimistic. Simply Wall St Dividend Rating: ★★★★★☆ Overview: Saudi Awwal Bank, operating in the Kingdom of Saudi Arabia, offers a range of banking and financial services through its subsidiaries and has a market cap of SAR67.40 billion. Operations: Saudi Awwal Bank generates its revenue from several key segments, including Treasury (SAR1.91 billion), Capital Markets (SAR439.67 million), Wealth & Personal Banking (SAR4.06 billion), and Corporate and Institutional Banking (SAR7.15 billion). Dividend Yield: 6% Saudi Awwal Bank offers a dividend yield of 6.02%, placing it in the top 25% of dividend payers in Saudi Arabia. Despite a history of volatility, dividends are currently covered by earnings with a payout ratio of 52.7%. The recent issuance of USD 650 million Green Sukuk could support future financial stability. Its price-to-earnings ratio is attractively low at 8.8x, suggesting good value relative to the market and peers. Unlock comprehensive insights into our analysis of Saudi Awwal Bank stock in this dividend report. According our valuation report, there's an indication that Saudi Awwal Bank's share price might be on the cheaper side. Simply Wall St Dividend Rating: ★★★★☆☆ Overview: Computer Direct Group Ltd. operates in the computing and software industry in Israel, with a market cap of ₪1.64 billion. Operations: Computer Direct Group Ltd.'s revenue is primarily derived from three segments: Infrastructure and Computing (₪1.28 billion), Outsourcing of Business Processes and Technology Support Centers (₪326.89 million), and Technological Solutions and Services, Management Consulting, and Value-Added Services (₪2.57 billion). Dividend Yield: 8% Computer Direct Group's dividend yield of 7.96% ranks in the top 25% of Israeli dividend payers, yet its sustainability is questionable due to a high payout ratio of 148.3%, indicating dividends aren't covered by earnings. However, cash flows cover dividends well with a cash payout ratio of 31.5%. Although dividends have grown over the past decade, they remain volatile and unreliable. Recent earnings growth shows improvement, with Q1 sales at ILS 1.13 billion and net income rising to ILS 22.17 million year-over-year. Take a closer look at Computer Direct Group's potential here in our dividend report. Our expertly prepared valuation report Computer Direct Group implies its share price may be lower than expected. Get an in-depth perspective on all 76 Top Middle Eastern Dividend Stocks by using our screener here. Got skin in the game with these stocks? Elevate how you manage them by using Simply Wall St's portfolio, where intuitive tools await to help optimize your investment outcomes. Enhance your investing ability with the Simply Wall St app and enjoy free access to essential market intelligence spanning every continent. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include IBSE:ANHYT SASE:1060 and TASE:CMDR. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
2 days ago
- Business
- Zawya
Mideast Stocks: Gulf shares rise as Iran-Israel ceasefire holds
Stock markets in the Gulf rose in early trade on Thursday, extending gains from the previous sessions amid rising oil prices as a ceasefire between Israel and Iran appeared to be holding. U.S. President Donald Trump hailed the swift end to the air war between Iran and Israel and said Washington would likely seek a commitment from Tehran to end its nuclear ambitions at talks with Iranian officials next week. Saudi Arabia's benchmark stock index extended its gains to a fourth straight session, rising 0.2%, with most sectors in the green. Oil major Saudi Aramco added 0.3% and Red Sea International climbed 3%. Modular house manufacturer Red Sea said on Wednesday it planned to float its mechanical, electrical and plumbing subsidiary on the Saudi market. Oil prices, a catalyst for the Gulf's financial markets, were up 0.2% as a larger-than-expected draw in U.S. crude stocks signalled firm demand. Brent crude was trading at $67.83 a barrel by 0805 GMT. The Abu Dhabi benchmark index rose 0.4%, aided by a 5.3% advance in RAK Properties and a 0.6% gain in Borouge. Petrochemical company Borouge said on Wednesday it would collaborate with Honeywell on a project to deliver the petrochemical industry's first AI-driven control room. Dubai's benchmark stock index was up for a fifth straight session, advancing 0.6%, pushed up by the materials, industry and finance sectors. Tolls operator Salik gained 1.8% and Emirates NBD , the emirate's largest lender, added 0.6%. The Qatari benchmark index was marginally up, propped up by gains in the materials, utilities and communications sectors. Vodafone Qatar advanced 1.2% while Qatar National Bank, the region's largest lender, shed 0.3%. Qatar Investment Authority and Canadian asset manager Fiera Capital have launched a $200 million fund to boost foreign and local investment into the Gulf state's stock market, QIA said on Wednesday.
