Alpha Business Zone

The advancements of modern technology and smartphones enable banks to leverage many mobile apps that expand the way for many activities. Now, a user can pay bills, transfer funds, and manage accounts through mobile apps. The Central Bank of UAE encourages users to leverage the digital and convenient solutions for payments. Moreover, in the UAE a large number of the population is youth. And they have grown up as digital natives where technology makes their life easier and convenient. So, the demand of the new generation is tech-savvy solutions for every matter. These seamless digital payment solutions are welcomed by the majority of people of UAE as well as the whole world. Business owners and other stakeholders are leveraging this to create a smooth operation of their transactions.  In this article, we will learn about the innovative situations of mobile banking and digital wallets and how smartly businesses are leveraging them. Overview of Current Payment System in the UAE The UAE...

In the UAE letter of credit is an essential component of corporate funding. This significantly reduces the troubles associated with payments and the delivery of goods. Sometimes, a good level of interaction is needed for a good trade. The letter of credit is considered the most important part of trade and Commerce. This process creates a smooth transaction experience and ensures hassle-free delivery. In the UAE, it is an integral part of corporate funding.  What is a letter of Credit? The Letter of Credit is a document issued by a bank that ensures the suppliers will get payment on time. It acts as a guarantee document for the provider that the bank will safeguard the capital of the investment in case the buyer fails to pay. Businesses that are involved with regular foreign trade and businesses the risk of problems like understanding clients, distance, and various rules and regulations of different jurisdictions. So, in this case, the letter of credit offers these documents to be a...

UAE Banks Lead the Way in Green Business Financing The world is heading towards sustainability globally and regionally. According to a joint report by KPMG and Emirates NBD, the banks of the UAE are playing an essential role in transforming the economy to be greener and sustainable. The banks of the UAE are bringing changes in the GCC region by launching green finance projects. Also, the climate-resilient practices have been incorporated in their operational activities. In addition, ESG has become a major part of their investment. UAE banks are investing in projects like encouraging renewable energy, energy efficiency, sustainable transportation, sustainable green construction, and many more. They set their net-zero targets and are working out to implement those plans. They are also introducing green loans, sustainability-linked bonds, blended finance, and transition finance. In this case, Islamic finance products are crucial to supporting investment and getting enough funds. UAE's...