Dubai – Mubasher: Al Ansari Exchange, a subsidiary of Al Ansari Financial Services, partnered with Al Etihad Payments (AEP), a unit of the Central Bank of the UAE (CBUAE), to boost seamless payments. The two entities will utilise Aani, an instant …
Mubasher: Forbes Middle East has revealed its ‘30 Most Valuable Banks’ ranking, with Saudi Arabia leading the list via 10 entries at an aggregated market value of $279.50 billion. As of 23 February 2024, the 30 banks had a combined value of …
Mubasher: Potential macroeconomic changes in Turkiye are set to benefit subsidiaries of GCC-based banks in the country. A disinflation in Turkiye is set to cut GCC banks’ net losses and the decelerated devaluation of the lira is expected to reduce …
Abu Dhabi – Mubasher: Global rating agency Moody's has upgraded the Baseline Credit Assessment (BCA) and Adjusted BCA of Abu Dhabi Islamic Bank (ADIB) to 'baa3' from 'ba1'. Moody's affirmed ADIB’s local and foreign currency long-term issuer …
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) and Microsoft teamed up to develop new AI-based banking capabilities and bolster financial services, according to a press release. The two entities will partner to launch an AI Innovation Hub that …
Dubai – Mubasher: Emirates NBD Capital, the investment banking arm of Emirates NBD, has arranged a $500 million syndicated revolving credit facility (RCF) for Lenovo Group Limited. The facility marks Lenovo's first entry into the Middle East …
Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), an Egypt-based unit of the ADX-listed FAB, has launched a mortgage finance system with an interest rate of up to 8%, in implementation of the latest initiative by the Central Bank of Egypt …
Abu Dhabi – Mubasher: The United Arab Bank (UAB) registered AED 255.30 million in net profit during 2023, higher than AED 154.72 million in 2022. Total interest income and income from Islamic financing products hit AED 921.61 million last year, up …
Dubai – Mubasher: Fitch Ratings asserted Ajman Bank's long-term issuer default rating (IDR) at 'BBB+', with a stable outlook and viability rating (VR) at 'b+', according to a press release. Mustafa Al Khalfawi, Group CEO of Ajman Bank, said: "We …
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) inked an affiliate partnership agreement to provide financing to Tesla car buyers at affordable profit rates starting at 1.79%. Through ADIB’s electrical car financing programme VOLT, the lender …
Cairo – Mubasher: The board members of Macro Group Pharmaceuticals - Macro Capital agreed to renew short-term financing from First Abu Dhabi Bank Misr (FABMISR), an Egypt-based unit of the ADX-listed FAB. The board greenlighted the EGP 65 million …
Abu Dhabi – Mubasher: The National Bank of Ras Al Khaimah (RAKBANK) appointed Mohamed Omran Al Shamsi as the Chairman of the board. The lender’s board members also elected Shaikha Amneh Al Qasimi as the Vice Chairperson, according to a bourse …
Cairo – Mubasher: Emirates NBD-Egypt, a subsidiary of DFM-listed Emirates NBD, opened its newest branch in Qena Governorate within its expansion strategy to offer a comprehensive scope of services, according to a press release. The inauguration …
Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), an Egypt-based unit of the ADX-listed FAB, has entered into a partnership with Drive Finance, a subsidiary of GB Capital owned by GB Corp. This collaboration will witness the integration of …
Dubai – Mubasher: The Saudi arm of Emirates NBD has signed an agreement with Emirates to launch the Fly Now, Pay Down the Line initiative to offer a zero-interest instalment plan for customers in the kingdom. The new feature will enable customers …
Dubai – Mubasher: Al Ansari Financial Services has reported a large increase in money transfers from the UAE to Egypt following the Central Bank of Egypt’s (CBE) decision to float the Egyptian Pound and liberate its exchange rate based on market …
UAE – Mubasher: The UAE-based state-owned Emirates Development Bank (EDB) has signed a memorandum of understanding (MoU) with KLAIM, a local healthcare-focused fintech company to provide low-risk short-term working capital solutions to support …
Mubasher: Investcorp Capital has entered into a $800 million revolving credit facility agreement with a syndicate of regional and international banks as lenders and Investcorp Holdings as a guarantor. The agreement is expected to have a positive …
Cairo – Mubasher: Emirates NBD-Egypt, a subsidiary of DFM-listed Emirates NBD, achieved net profits valued at EGP 3.24 billion in 2023, an annual leap of 174% from EGP 1.20 billion. The registered profits marked the highest annual growth rate in …
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) has entered an exclusive long-term global partnership with Mastercard. The landmark agreement encompasses four key markets – the UAE, Saudi Arabia, Oman, and Egypt – and aims to strengthen the …
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) obtained the approval of its annual general meeting (AGM) to disburse 50% cash dividends, equivalent to AED 7.80 billion, for 2023. FAB will pay out a dividend of AED 0.71 per share to eligible …
Mubasher: GFH Financial Group has signed an agreement with Southern Star Investments WLL to sell a portion of its ownership in the Khaleeji Bank’s Additional Tier 1 (AT1) Certificates. The transaction was concluded at a nominal value of $74.96 …
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) has appointed Mohamed Abdelbary as its acting Group CEO following the resignation of Nasser Al Awadhi from the same position. Abdelbary joined ADIB in May 2020 as the group CFO from Standard …
Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), Egypt-based unit of the ADX-listed FAB, has inaugurated a new branch in Banha City, according to a press release. The inauguration marks the bank’s 65th branch and aligns with its objectives …
UAE – Mubasher: Gulf Islamic Investments (GII) has acquired an entity licensed by the Saudi Capital Market Authority (CMA) to boost operations in the kingdom. GII operations in Saudi Arabia will include corporate finance advisory, investment …
