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Banking and Finance

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20 September 04:47 PM National Building secures SAR 100m from Riyad Bank
Riyadh – Mubasher: National Building and Marketing Company has signed a Sharia-compliant credit facility agreement worth SAR 100 million with Riyad Bank. The loan duration is three months starting 20 September 2021, according to a bourse …
The three-year protocol is in line with the country's efforts to create a cashless society.
20 September 11:14 AM CBE, FRA cooperate to streamline consumer finance payment procedures
Cairo – Mubasher: The Central Bank of Egypt (CBE) has signed a protocol of cooperation with the Financial Regulatory Authority (FRA) for the issuance of licences and approvals under the provisions of consumer finance law no. 18 of 2020 in relation …
The issuance will be used to finance the country’s budget deficit
20 September 10:32 AM CBE offers EGP 12bn T-bonds on Monday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bonds (T-bonds) worth EGP 12 billion on Monday on behalf of the Ministry of Finance. The first tranche of the T-bonds will be offered through two-year notes valued at EGP …
Minister of Local Development, Mahmoud Shaarawy
19 September 02:11 PM Mashroak finances 3,500 small enterprises with EGP 746m since July
Cairo – Mubasher: The Egyptian National Programme for Community, Human, and Local Development (Mashroak) has financed about 3,500 small enterprises with about EGP 746 million since the beginning of fiscal year (FY) 2020/2021, the Middle East News …
NBFX will help customers hedge their treasury requirements
19 September 10:58 AM NBF introduces electronic trading platform NBFX
Abu Dhabi – Mubasher: The National Bank of Fujairah (NBF) has launched an electronic trading platform (NBFX) to expand its digital services Available for both conventional and Shariah-compliant banking customers, NBFX will help customers hedge …
The issuance will be used to finance the country’s budget deficit
19 September 10:35 AM CBE offers EGP 11.5bn T-bills on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 11.5 billion on Sunday on behalf of the Ministry of Finance. The first tranche of the T-bills will be offered through 91-day notes valued at EGP 6.5 …
Medium-term loans amounted to EGP 10.2 billion
16 September 05:52 PM Investment loans to agricultural projects in Egypt hit EGP 16.7bn in FY19/20
Cairo – Mubasher: Investment loans provided to farmers and agricultural projects in Egypt rose by 20.6% year-on-year (YoY) to EGP 16.7 billion in fiscal year (FY) 2019/2020, compared to EGP 13.8 billion, according to data by the Central Agency for …
Al Ahly owns the largest mortgage finance portfolio in Egypt
16 September 02:56 PM Al Ahly raises mortgage finance portfolio to EGP 2.3bn in 2021
Cairo – Mubasher: Al Ahly Mortgage Finance has raised its mortgage finance portfolio by EGP 1.3 billion by the end of the third quarter (Q3) of 2021.  This brings the total value of the mortgage finance portfolio to more than EGP 2.3 billion …
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16 September 11:29 AM Standard Chartered opens first branch in Saudi Arabia
Riyadh – Mubasher: British lender Standard Chartered has inaugurated its first branch in Saudi Arabia, celebrating the opening virtually, according to a press release on Thursday. The Saudi Central Bank (SAMA) granted the license to Standard …
State-run banks are the top purchasers of government debt instruments
16 September 10:22 AM CBE offers EGP 20.5bn T-bills on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 20.5 billion on Thursday on behalf of the Ministry of Finance. The first tranche of the T-bills will be offered through 182-day notes worth EGP 5.5 …
Egyptian expats' remittances reached $2.9 billion in June
15 September 02:45 PM Remittances of Egyptian expats hit $31.4bn in FY20/21
Cairo – Mubasher: Remittances of Egyptians living abroad increased by $3.7 billion or 13.2% to a record $31.4 billion in fiscal year (FY) 2020/2021, compared to $27.8 billion a year earlier, according to initial data.  Over the April-June period, …
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15 September 12:07 PM SoftBank makes first investment in Saudi-based firm
Riyadh – Mubasher: SoftBank Group has partnered with a unit of the kingdom’s sovereign wealth fund for a deal on Unifonic, marking its first investment in a Saudi-based company. SoftBank and the unit will lead a $125 million financing for the …
The partnership is part of Visa’s Fintech Fast Track programme
14 September 04:50 PM ADIB partners with DenekB to expand digital payment services
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) has partnered with the UAE-based financial technology (FinTech) company DenekB to expand its digital payment services for consumers in the country. The partnership is part of Visa’s Fintech Fast …
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13 September 04:54 PM NBK issues $1bn Senior Unsecured notes; first of kind across CEEMEA
Mubasher: The National Bank of Kuwait (NBK) has issued bonds worth $1 billion, marking the first callable structure for senior unsecured notes, fixed to floating, across the Central and Eastern Europe Middle East and Africa (CEEMEA) region. Final …
The issued and paid-up capital will be raised to EGP 5.313 billion
13 September 04:54 PM HD Bank gets FRA's approval to proceed with capital hike
Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved a disclosure form submitted by Housing and Development Bank (HD Bank) to proceed with the capital raise procedures. The disclosure form includes the board of directors' …
LFIs are required to comply with the CBUAE's requirements
13 September 03:55 PM CBUAE issues guidance for LFIs on transaction monitoring, sanctions screening
UAE - Mubasher: The Central Bank of the UAE (CBUAE) has issued new guidance for its licensed financial institutions (LFIs) on transaction monitoring and sanctions screening to promote statutory anti-money laundering at these institutions. Under …
Emaar is considering a number of options to sell Namshi
13 September 02:26 PM Emaar selects Emirates NBD as advisor to sell Namshi
Dubai – Mubasher: Emaar Properties has selected Emirates NBD as its advisor to sell the fashion e-commerce business Namshi, sources told Reuters. Emaar is considering a number of options to sell Namshi, including a listing abroad through a special …
The new fund has been oversubscribed with a value of EGP 243 million
13 September 02:01 PM Misr Capital starts receiving purchase, redemption orders for Kol Shahr Fund
Cairo – Mubasher: Misr Capital, the investment arm of Banque Misr, has opened the door to receive purchase and redemption orders for its Kol Shahr Fund on 13 September.  The new fund for investment in debt instruments has been oversubscribed with …
The bank will support sustainable goods, suppliers, and end-use
13 September 11:40 AM Standard Chartered opens green trade finance facility in UAE
UAE - Mubasher: Standard Chartered has inaugurated its first green trade finance facility in the UAE to support Amplus Energy Solutions FZE, a subsidiary of Amplus Solar, in its solar generation business. The Sustainable Trade Finance …
The UAE banks have invested AED 302.9 billion in debt securities
13 September 11:01 AM UAE banks' investments hit AED 531.8bn in July
UAE - Mubasher: The total value of the UAE banks' investments jumped by 23.4% to AED 531.8 billion in July 2021, compared to AED 431.1 billion in the same month of 2020. On a monthly basis, the total value of the UAE bank's investments increased …
The term of the loan is nine years
13 September 10:39 AM NBE inks EGP 311m deal with Orascom to finance sound and light show
Cairo – Mubasher: The National Bank of Egypt (NBE) signed an agreement with Orascom Investment Holding to finance the development of the sound and light show at the Pyramids of Giza.  The EGP 311 million loan is aimed at supporting the tourism …
The issuance will be used to finance the country’s budget deficit
13 September 10:13 AM CBE offers EGP 12bn T-bonds on Monday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bonds (T-bonds) worth EGP 12 billion on Monday on behalf of the Ministry of Finance. The first tranche of the T-bonds will be offered through five-year notes valued at EGP 9.5 …
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13 September 09:56 AM Sadr Logistics secures short-term loan from ANB
Riyadh – Mubasher: Sadr Logistics Company has obtained a short-term financing worth SAR 5 million from Arab National Bank (ANB), according to a disclosure to Tadawul on Monday. The Sharia-compliant loan was secured through the Kafalah Fund under …
Central Bank of Egypt
12 September 12:49 PM CBE likely to keep interest rates unchanged in next meeting – HC Securities
Cairo – Mubasher: The Central Bank of Egypt (CBE) is expected to leave interest rates unchanged in its next meeting on Thursday, 16 September, according to a research note issued by HC Securities & Investment on Sunday. Head of Macro and …
The issuance will be used to finance the country’s budget deficit
12 September 10:27 AM CBE offers EGP 10.5bn T-bills on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 10.5 billion on Sunday on behalf of the Ministry of Finance. The first tranche of the T-bills will be offered through 91-day notes valued at EGP …