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The formula for EMI (in arrears) is: [2] = (+) or, equivalently, = (+) (+) Where: P is the principal amount borrowed, A is the periodic amortization payment, r is the annual interest rate divided by 100 (annual interest rate also divided by 12 in case of monthly installments), and n is the total number of payments (for a 30-year loan with monthly payments n = 30 × 12 = 360).
In the European Union, an Electronic Money Institution can be licensed in any country member but can act and provide services in all EU and EEA countries. [6] The legal basis for e-money issuance in the European Union is covered by EU Directive 2009/110/EC, on the taking up, pursuit and prudential supervision of the business of electronic money institutions establishes, issued by the European ...
The e-Dirham Cards can be described as a Secure Electronic Purse and currently have two versions as per the following: . The Fixed Value Card. The Ministry of Finance and Industry has made available the e-Dirham cards with fixed value for a number of denominations that can be bought at face value from a number of banks (e-Dirham Members).
ADFD was established in 1971 in order to manage the foreign aid programs of the United Arab Emirates. Since its founding until 2014, the fund disbursed AED22.5 billion in loans and AED39.8 billion in grants. Grants are funded by the government of Abu Dhabi but managed by the ADFD. [2]
The official portal of the UAE Government is u.ae (old URL: government.ae). It is part of the federal eGovernment program and a major milestone in the process of eTransformation in the UAE. This portal brings all eServices provided by the UAE federal and local government bodies under one umbrella.
From 1971 to 2014 the UAE's humanitarian and development aid to Egypt equaled to US$12.8 billion . [10] In 2013, the largest receiver of the UAE's government development aid was directed to Egypt. In that same year, an agreement was created aimed at supporting the economy and financial system. [11]
On 1 December 2012 Dubai Bank was acquired by Emirates NBD. [3] [4] [5] As of 31 December 2020, total assets were DH 698 billion, deposits of AED 464 billion, a total income of AED 23.21 billion, and a net profit of AED 7 billion, making it one of the top financial institutions of the UAE, with a brand value of US$3.89 billion. [6]
The Central Bank of the UAE has powers to issue and manage the currency; to ensure the stability of the currency; to manage the UAE's credit policy; to develop and oversee the banking system in the UAE; to act as the Government's banker; to provide monetary and financial support to the Government; to manage the UAE's gold and currency reserves ...