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Juma Thani Alhameli has been appointed as the Chief Operating Officer of the Dubai Financial Services Authority (DFSA), effective June 10. With over 20 years of experience in technology and financial services, he previously served as Group Chief Technology Officer at First Abu Dhabi Bank and held senior roles at Abu Dhabi Global Market. Alhameli expressed his commitment to advancing the DFSA's operational agenda and contributing to the growth of Dubai's financial sector.
Saudi Aramco has filed a prospectus for its sukuk issuance program following a $5 billion bond sale, indicating plans to tap the debt markets again. The prospectus, dated May 30, allows for sukuk issuance within a year as the company navigates economic uncertainty and declining profits. Major banks including Citi, HSBC, and JPMorgan are involved in the program.
Saudi Aramco has issued a new prospectus for its sukuk program, indicating plans to enter the debt markets again after raising $5 billion from a bond sale. The company is responding to economic challenges and declining profits, with expectations of a significant dividend cut this year. Meanwhile, Japan's tourism sector faces a decline in domestic travel, attributed to a shrinking population and rising costs, despite a record influx of international visitors.
Barclays has partnered with Brookfield Asset Management to transform its payment acceptance business, aiming to create a standalone entity for long-term growth. Barclays will invest £400 million, while Brookfield will provide expertise and may acquire a 70% stake in the business over time. The partnership seeks to enhance service offerings and maintain the 'Barclaycard Payments' brand for at least ten years.
First Abu Dhabi Bank (FAB) has announced a reshuffle in its executive committee, promoting Futoon Al Mazrouei to Group Head of Personal, Wealth, Business Banking, and Privileged Client Group. Noora Al Reyasi has been appointed as Group Chief Human Resources Officer, succeeding Gareth Powell, who has retired. The bank is also seeing the departure of Neil Barrable, Group Chief Credit Officer, for personal reasons, as it continues to enhance its leadership and financial services capabilities.
The RWA sector saw significant growth this week, with its market cap rising to $67.6 billion, driven by notable performances from Chainlink (+16.7%) and XDC (+24.3%). Key developments include ProvLabs' funding round, Archax's partnership with XDC, and BounceBit's integration of Ondo's USDY yieldcoin, enhancing access to tokenized real-world assets. Despite a decline in total value locked to $7 billion, the sector remains the best performer over the last 30 days, with a remarkable 98.5% growth.
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