Tawasul
Mubasher TV
Contact Us Advertising   العربية

Banking and Finance

31 May 04:55 PM Faisal Islamic Bank gets FRA's approval for capital raise
Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved a request from Faisal Islamic Bank of Egypt to publish the disclosure form to proceed with its capital increase procedures.   The disclosure form included the board of …
Banks were closed during the Eid holiday
31 May 10:27 AM CBE offers EGP 24.5bn T-bills, bonds on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills and bonds worth EGP 24.5 billion on Sunday on behalf of the Ministry of Finance. The first tranche of the T-bills will be offered through 182-day notes worth EGP 10 …
Investments of banks in debt instruments rose by AED 1.8 billion YoY
28 May 01:03 PM UAE’s banks raise investments in bonds, stocks in April amid COVID-19 uncertainty
UAE – Mubasher: Banks operating in the UAE increased their investments in bonds and stocks at the end of April as investors search for safe-haven investments amid the coronavirus (COVID-19) outbreak. Investments of banks in debt instruments rose …
The issuance is part of a Sukuk programme at a maximum value of $2 billion
27 May 03:56 PM Warba Bank receives regulatory approval for KWD 150m Sukuk
Mubasher: Warba Bank has received approval from the Central Bank of Kuwait and the Capital Markets Authority (CMA) for the second issuance of Sukuk at a value not exceeding KWD 150 million. The issuance is part of a Sukuk programme at a maximum …
The lender’s LTFC IDR has been affirmed at 'B+'
27 May 01:49 PM Fitch revises Burgan Bank Turkey's outlook to negative
Mubasher: Fitch Ratings has revised the outlook on the long-term foreign-currency issuer default ratings (LTFC IDRs) of nine Turkish foreign-owned banks, including Burgan Bank Turkey, to negative from stable. The lender’s LTFC IDR has been …
The financing was provided to 48,743 projects
26 May 12:35 PM Egypt’s MSMEDA offers EGP 1.1bn funding in 4M
Cairo – Mubasher: The Egyptian Micro, Small, and Medium Enterprise Development Agency (MSMEDA) has allocated EGP 1.19 billion in funding to 48,743 small and micro projects during the first third of 2020, MSMEDA’s executive director and the …
Banks will be open to the public from 9:30 a.m. to 3:00 p.m
26 May 11:17 AM CBE changes working hours for banks after Ramadan, Eid
Cairo – Mubasher: The Central Bank of Egypt (CBE) has adjusted banks' working hours to be from 9:00 a.m. to 4:00 p.m., effective from next week. Customers will be allowed entrance and service in bank branches, starting from 9:30 a.m. until 3 p.m., …
Saudi Aramco is currently the most profitable company worldwide
26 May 11:02 AM World's top 2,000 list includes 40 Arab companies; Aramco ranked 5th
By: Amal A. Wahaab Mubasher: This year's Forbes Global 2000 list saw the inclusion of 40 companies from the Arab world in the magazine's ranking of the world's top 2,000 companies, based on assets, profits, revenues, and market value.  Oil giant …
The Egyptian Ministry of Finance
25 May 12:14 PM Egypt produces EGP 30m worth of coins per month - MoF
Cairo - Mubasher: The production capacity of denomination coins has increased by 50% to settle at EGP 30 million per month starting January, the Egyptian Ministry of Finance (MoF) announced on Monday. The ministry confirmed that the Egyptian Mint …
Total assets of the bank stood at EGP 64.2 billion in Q1-20
21 May 01:38 PM NBK Egypt’s profits down to EGP 403m in Q1-20
Cairo - Mubasher: The net profit of National Bank of Kuwait – Egypt (NBK Egypt) amounted to EGP 402.76 million (KWD 7.9 million) in the first quarter (Q1) of 2020, compared to EGP 509.9 million (KWD 8.9 million) in the same period in 2019. Total …
ABK's capital adequacy ratio (CAR) stood at 18.6% in 2019
21 May 12:48 PM Moody’s affirms ABK long-term credit rating
Mubasher: Moody’s Investors Service has affirmed the long-term deposits rating of Ahli Bank of Kuwait (ABK) at ‘A2’, with a ‘Stable’ outlook. The ‘baa3’ standalone Baseline Credit Assessment (BCA) reflects the lender’s strong capitalisation, …
David Parker - co-chief Investment officer for the Financial Services sector at EDB
21 May 11:39 AM GCC sees growing trend for fintech platforms amid COVID-19 crisis
Mubasher: The GCC region is set for a big leap in the use of financial technology applications amid the coronavirus (COVID-19) outbreak with the Middle East and Africa (MEA) region witnessing a 70% growth in the use of contactless payments, …
The issuance will be used to finance the country’s budget deficit
21 May 10:59 AM CBE offers EGP 19bn T-bills on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 19 billion on Thursday on behalf of the Ministry of Finance. The first tranche of the T-bills will be offered through 91-day notes valued at EGP 8.5 …
The funding was directed to the establishment of more than 500,000 projects
20 May 02:15 PM Egypt's MSMEDA provides EGP 8bn to women entrepreneurs
Cairo – Mubasher: The Egyptian Micro, Small and Medium Enterprise Development Agency (MSMEDA) provided EGP 8 billion in funding to projects founded by women from July 2014 until the end of last March, the executive director of MSMEDA Nevine Gamea …
Bengaluru's court set the next hearing on 8 June
20 May 01:00 PM NMC founder owes $253m to India's Bank of Baroda
UAE - Mubasher: The founder of the NMC Healthcare, BR Shetty, and his companies owe more than $250 million to India's Bank of Baroda, according to Reuters. Hence, an Indian court prevented Shetty and his wife from selling some properties while it …
The fund aims to support Indian and Southeast Asian startups
20 May 12:08 PM ADQ establishes AED 1.1bn venture fund to support startups
UAE - Mubasher: Abu Dhabi Developmental Holding (ADQ), one of the region's largest holding companies, launched an AED 1.1 billion Alpha Wave Incubation (AWI) Fund, according to the Emirates News Agency (WAM). Located at the Abu Dhabi Global Market …
The ministry affirmed its commitment towards diversifying its financing sources
20 May 11:29 AM Egypt to accept less bids for treasury notes following IMF loan
Cairo – Mubasher: The Egyptian Ministry of Finance announced a possibility of accepting less bids for treasury bills and bonds denominated in the Egyptian pound until the end of fiscal year 2019/2020. The ministry affirmed its commitment towards …
The bank’s interest income fell by 2.4% YoY to EGP 1.49 billion
20 May 11:13 AM HDB’s standalone indicators show EGP 615m profit in Q1-20
Cairo – Mubasher: The unaudited standalone financial results of Housing and Development Bank (HDB) reported a slight increase year-on-year (YoY) in its net during the first quarter of 2020. The lender’s net profits amounted to EGP 615 million in …
The treasury stocks amount to nearly 68.6 million shares
20 May 10:45 AM Kuwait C. bank rejects CBK’s request to distribute treasury stocks
Mubasher: The Central Bank of Kuwait (CBK) has rejected the request of the Commercial Bank of Kuwait (CBK) regarding the distribution of treasury stocks to shareholders. The commercial bank had sought the central bank's consent upon shareholders’ …
Banks will be reopened on 31 May
20 May 10:26 AM Egyptian banks, bourse to take 5-day Eid holiday
Cairo – Mubasher: The Central Bank of Egypt (CBE) announced that all banks will be closed from Sunday, 24 May, to Thursday, 28 May, on the occasion of Eid El-Fitr. Banks will be reopened on Sunday, 31 May, the CBE said in a statement late on …
The bank's assets increased by 6.3%
19 May 03:51 PM SAIB's net profits dip 46.5% in Q1-20
Riyadh – Mubasher: Saudi Investment Bank (SAIB) reported a 46.45% decline in net profits to SAR 150.7 million during the first quarter (Q1) of 2020, compared to SAR 281.4 million in the year-ago period. The drop in net profits is driven by a rise …
The bank’s assets grew to EGP 104.18 billion
19 May 11:46 AM Faisal Islamic Bank’s business volume rises 14.5% in April
Cairo – Mubasher: Faisal Islamic Bank of Egypt saw its business volume growing by 14.5% year-on-year (YoY) by the end of April to EGP 109.6 billion from EGP 95.75 billion, the bank’s financial indicators showed. The bank’s assets grew to EGP …
The initiative involves offering loans at a declining rate of 8%
19 May 11:26 AM CBE issues EGP 100bn guarantee to boost lending to private sector
Cairo – Mubasher: The Central Bank of Egypt (CBE) decided to issue guarantees worth EGP 100 billion for banks to boost lending to the private sector, the Middle East News Agency (MENA) reported on Tuesday, citing the CBE’s governor Tarek Amer as …
The lender’s net operating profit amounted to EGP 316 million
19 May 11:11 AM ABK Egypt's profit grows 22% in Q1-20
Cairo – Mubasher: Al Ahli Bank of Kuwait - Egypt (ABK-Egypt) reported a 22% year-on-year (YoY) growth in its net profits to EGP 140 million during the first quarter of 2020. The lender’s net operating profit amounted to EGP 316 million in the …
Sheikh Saleh Abdullah Kamel
19 May 10:57 AM Saudi businessman Saleh Kamel passes away
Riyadh – Mubasher: Prominent Saudi businessman, the chairman and founder of Dallah Al Baraka Group, Sheikh Saleh Abdullah Kamel died on Monday, aged 79. Saleh Kamel was one of the region’s biggest investors in the media industry as the founder of …