Skip to main content

icnlive

Menu
Menu
icn.lıve
WATCH LIVE. THINK BUSINESS.
Menu
X-twitter Linkedin-in Instagram Youtube

© 2026 ICN.LIVE
  • Emirates NBD

UAE’s First Transition Finance Framework by Emirates NBD Opens New Funding Route for Carbon-Heavy Industries

UAE’s first transition finance framework has arrived, and it changes how carbon-heavy companies in the country can access funding for their shift

Trending Banking

Explore Section:

TECH
AI
Capital
Politics
Banking
Health
UAE's first domestic card scheme
  • Digital Payments

Jaywan, the UAE’s first domestic card scheme, will carry a Mastercard badge on a new credit card under a partnership announced by Al Etihad Payments. AEP owns and operates the country’s national card switch and the Jaywan scheme, and it is a wholly owned unit of the Central Bank of the UAE. Both sides describe the deal as a first-of-its-kind arrangement. At its centre sits the world’s first Jaywan-Mastercard co-badged credit card.

A co-badged card runs on two payment networks at once. One network clears payments inside the country. The other clears payments abroad. On these products, Jaywan handles domestic transactions, and Mastercard handles international ones. That split lets a single Jaywan card work at home and across Mastercard’s global network. Credit adds a borrowing line that earlier Jaywan debit and prepaid cards did not offer.

New infrastructure inside Mastercard’s network

The agreement goes past a logo on plastic. AEP and Mastercard will build advanced systems for switching and processing card payments. They will also open a new operations centre in the UAE. This centre becomes a node in Mastercard’s global network, built to process both domestic and international payment flows. Mastercard will act as the prime international scheme for the Jaywan credit card program. The UAE will be among the earliest markets to run Mastercard’s latest technology and services.

Security built into UAE digital payments

Mastercard will deploy next-generation payment technology that powers Jaywan debit, prepaid and credit co-badge products. The package covers switching, processing and value-added services. It also brings Mastercard‘s cybersecurity, fraud prevention and threat intelligence tools into UAE digital payments. Threat intelligence means tracking known attack methods so a network can block them before they spread. These systems scan transactions for patterns that signal fraud, such as odd amounts or locations.

What it means for banks and merchants

The partnership reaches past cardholders. AEP wants banks, fintechs and merchants on shared, modern rails. Mastercard’s system gives these players more functions to serve customers and run their businesses. The operations centre will serve local and regional markets, not the UAE alone. That regional role could route more payment traffic through the country and support local innovation.

Why the UAE’s first domestic card scheme matters

The UAE’s first domestic card scheme was built to reduce reliance on foreign networks and to keep payment data inside the country. Adding Mastercard gives Jaywan cardholders reach beyond national borders without giving up local control. Saif Humaid Al Dhaheri, the Central Bank’s Assistant Governor for Banking Operations and Support Services and Chairman of Al Etihad Payments, called the collaboration a defining moment for the country’s payments ecosystem. He said pairing national infrastructure with global innovation strengthens sovereignty, resilience and choice.

Dr. Dimitrios Dosis, President for EEMEA at Mastercard, said the company marks forty years in the UAE this year. He tied the partnership to growth in trade, tourism and commerce. Jaywan became the UAE’s first domestic card scheme after development with earlier partners, and nationwide card issuance moved ahead in 2026. AEP has since signed co-badge deals with Visa, Mastercard, Discover and UnionPay. The new credit card extends earlier Jaywan-Mastercard debit and prepaid products.

For now, the UAE’s first domestic card scheme adds a credit product built to work well beyond national borders.

  • 3 min read
NBQ's 2026 half-year profit
  • UAE

NBQ’s 2026 half-year profit came in at AED271 million for the six months to 30 June. Behind that figure sit the depositors, borrowers and staff who keep the lender running. The National Bank of Umm Al Qaiwain results point to steady footing at a small bank that families and businesses in the northern emirates lean on for everyday needs.

What NBQ’s 2026 half-year profit shows

The bank credited its first-half showing to a wider mix of income and a broader balance sheet, paired with tight cost control. Total interest income reached AED503 million over the period. Net interest income held about flat at AED310 million, against AED309 million a year earlier. That flat line matters more than it looks. Interest rates fell over the year, so keeping core income steady took real work on both pricing and funding.

For a customer, this shows up in small ways. Your deposit stays safe. Loan terms stay predictable. A bank that earns steadily can keep the lights on for the people who bank with it.

Balance sheet growth and deposits

NBQ total assets rose to AED24.1 billion by the end of June, up 5 percent from December and 20 percent from a year earlier. Customer deposits did much of the heavy lifting. They climbed 29 percent to AED17.1 billion, a sign that more people trusted the bank with their money. Net loans and advances grew 4 percent over the year to AED8.7 billion. Shareholders’ equity reached AED6.4 billion, up 3 percent from June 2025.

Deposit growth on that scale tells a human story. When savers move money into a bank, they place a bet on its stability. That trust gives the lender room to fund loans for homes, shops and small firms across the emirate.

Capital strength and asset quality

The capital adequacy ratio stood at 31 percent, well above the floor the Central Bank of the UAE sets under Basel III rules. Put simply, the bank holds a thick cushion against shocks. The non-performing loans ratio came in at 0.4 percent, up slightly from 0.3 percent at the end of 2025 but far below the 2.2 percent seen a year earlier. Fewer bad loans mean fewer customers in distress and a cleaner book. NBQ net profit after tax landed at AED271 million on the back of these numbers.

Adnan Al Awadhi, Chief Executive Officer of NBQ, said the bank delivered solid results despite geopolitical uncertainty and lower interest rates. He pointed to a diversified model, careful balance sheet management and a focus on lasting growth. Al Awadhi said the bank kept strong capital and liquidity while supporting customers and the wider economy through prudent risk management and better asset quality.

He added that NBQ kept investing in digital tools to improve the customer experience and to make its platforms safer and more reliable. Partnerships would widen its services further, he said. Al Awadhi also restated the bank’s pledge to Emiratisation, leadership development, sustainability and community work.

Why NBQ’s 2026 half-year profit matters to customers

Numbers like these can feel far from daily life. Yet a stable bank shapes real choices for real people. NBQ’s 2026 half-year profit gives the lender the means to keep lending, keep hiring and keep serving the towns it calls home. For anyone who banks there, that steadiness is the point.

  • 3 min read
Sharjah Islamic Bank H1 2026 results
  • Sharjah Islamic Bank

Sharjah Islamic Bank H1 2026 results showed net profit after tax reaching AED803.9 million. The lender lifted earnings 15.3 percent from AED697.2 million during the same period last year. Balanced growth across core business lines drove this result, alongside a strengthened capital base. You can see the strength in both income diversification and improved operating efficiency this half.

Income from Islamic financing and sukuk rose 12.1 percent to about AED2.1 billion this half. The increase equals AED227.6 million more than the AED1.9 billion posted one year earlier. Net fee and commission income grew 8.1 percent to AED445.7 million over the year. Total operating income reached AED1.4 billion, a rise of 20.5 percent from last year. Sharjah Islamic Bank net profit gains rested on wider income streams and lower relative costs.

Profit efficiency improves while the bank keeps investing

General and administrative expenses rose 17.2 percent to AED475.2 million during the first half. The bank spent more on people, technology, and stronger operational systems across this period. Net operating income before provisions and tax grew 22.3 percent to reach AED925.8 million. SIB net profit after tax rose while the bank kept investing in future growth. Impairment provisions for financial assets stood at AED79.2 million by the end of June. Recoveries reached AED37.9 million during the same six-month period across the financing portfolio here. The non-performing financing ratio improved to 3.6 percent, down from 3.8 percent last year. Provision coverage held firm at 107 percent, close to the 109 percent recorded earlier. These indicators point to a prudent credit policy and careful risk management across the book.

Balance sheet expands as customer deposits growth continues

Total assets increased to AED94.5 billion by the end of the first half period. The figure grew 4.7 percent from AED90.3 billion recorded at the close of 2025. Growth came mainly from the Islamic financing portfolio, which reached AED49.9 billion this half. The portfolio climbed 9.5 percent from AED45.6 billion posted at the end of 2025. Customer deposits growth reached 6.6 percent, lifting total balances to AED59.4 billion this half. The financing-to-deposits ratio rose to 84 percent, up from 82 percent one year earlier. Liquid assets stood at AED19.8 billion, close to 20.9 percent of total assets overall. Shareholders’ equity rose by AED2.6 billion after the bank completed its capital increase this year. The bank issued 1.1 billion new shares at AED1 each, plus a share premium. Investors added a premium of AED1.4 per share during the bank’s successful capital raise. These Sharjah Islamic Bank H1 2026 results also show a firmer capital base overall.

Sharjah Islamic Bank H1 2026 results lift shareholder returns

Return on equity improved to 14.81 percent from 14.78 percent during the prior year. The lender pushed return on assets to 1.74 percent from 1.55 percent last year. In its official results statement, Sharjah Islamic Bank tied these gains to disciplined risk management. The bank said results reflected “balanced growth across its core business activities” this half. From my reading, these numbers point to steady, well-managed expansion rather than one-off gains. Sharjah Islamic Bank H1 2026 results confirm strong momentum heading into the second half. You should watch deposits, financing demand, and margins closely as the year moves forward.

  • 3 min read
Load More Economy News