The wire
Gulf banking results dominated the regional financial news on 2 August 2026, with Mashreq posting a record H1 profit and Abu Dhabi Commercial Bank recording a 31% jump in Q2 net profit. Meanwhile, Qatar's central bank is tightening the rules for payment service providers, signalling a broader Gulf-wide push toward stricter licensing and data-residency requirements that will affect how fintechs and remittance platforms operate across the region. The UAE also cemented its position as the top destination for Nepali migrant workers, a key remittance corridor for South Asian expats in the Gulf.
Top stories
Zawya
Mashreq posts record H1 2026 profit of AED 4.8 bln, up 18% year-on-year
Mashreq Bank reported a record pre-tax profit of AED 4.8 billion for the first half of 2026, an 18% increase compared to the same period last year.
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Finance Magnates
QCB rules are reshaping how payment service providers enter the Gulf
Qatar Central Bank licensing and data-residency requirements are raising the compliance bar for PSPs across the GCC, mirroring similar rules at SAMA and the Central Bank of the UAE.
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Khabarhub
UAE overtakes Malaysia and Qatar as top destination for Nepali migrant workers
The UAE received labour approvals for 183,580 Nepali workers in FY2024/25, making it the leading Gulf destination ahead of Malaysia, Qatar, and Saudi Arabia.
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