Banking and Finance

The World Bank is requesting fresh products to finance them
01:39 PM Egypt, World Bank mulls $300m MSME financing
Cairo – Mubasher: The Micro, Small and Medium Enterprise Development Agency (MSMEDA) is in talks with the World Bank over getting new financing tranches worth up to $300 million. Investment and international cooperation minister Sahar Nasr is …
The credit facilities should be repaid on 15 November 2019
12:50 PM United Real Estate renews credit facility with Burgan Bank
Mubasher: United Real Estate has signed a renewal and modification of credit facilities agreement with Burgan Bank at a total value of KWD 51.5 million ($170.4 million). The credit facilities should be repaid on 15 November 2019 to finance United …
The finance ministry is engaged with nearly 1,000 tax disputes with several lenders over different taxation issues
11:10 AM Egyptian banks, ETA to ink deal to settle stamp tax dispute
Cairo – Mubasher: The Federation of Egyptian Banks (FEB) will sign a protocol with the Egyptian Tax Authority (ETA) next Thursday to settle the stamp tax dispute. Each dispute will be tackled separately and tax dues will be allocated from banks in …
AUB has welcomed the MoU with AUB
09:53 AM Boursa Kuwait suspends trading on KFH
Mubasher: Boursa Kuwait announced that the trading on Kuwait Finance House’s (KFH) shares will be suspended for an hour, as part of the procedures applied for the possible mergers and acquisitions. On Monday, KFH said it has called on Ahli United …
CEO of global Lease Hatem Samir
16 July 05:20 PM Global Lease eyes EGP 600m hike in financing portfolio in H2
By: Islam Fadl Cairo – Mubasher: Global Lease is looking to boost its financing portfolio by EGP 600 million to EGP 2.5 billion by the end of this year. The Egyptian company’s small- and medium-sized businesses (SMBs) represented about 40% of its …
The circulated cash decreased by 1.6% M-o-M in June
16 July 05:01 PM Kuwait C.bank reports 3.2% cash drop in June
Mubasher: The Central Bank of Kuwait (CBK) showed a 3.2% year-on-year decline in the volume of cash and coins in June, according to recent data by the bank. Cash and coins in Kuwait stood at KWD 1.84 billion ($6.10 billion) in June, compared to …
The 12-month term loan was fully transferred to the CBE
16 July 01:51 PM Egypt gets $400m loan from Afreximbank
Cairo – Mubasher: The Central Bank of Egypt (CBE) has received a $400 million loan from the African Export-Import Bank (Afreximbank) in June to finance the small- and medium-sized enterprises (SMEs) and the bank’s operations. The 12-month term …
The EBRD, French Development Agency, and the EIB are among these banks.
15 July 02:49 PM Egypt, int’l banks mull EGP 32bn loan to develop Cairo Metro
Cairo – Mubasher: The Egyptian transport ministry is in talks with a number of banks and international financial institutions to contribute in a financing plan to develop the Cairo Metro Line 1 at a cost of around EGP 32 billion. The European Bank …
The credit facility will be a structured finance deal and its proceeds will partly be used to pre-pay EGPC's cargo deliveries
15 July 01:33 PM EGPC hires HSBC to arrange $1bn loan
Cairo – Mubasher: State-run Egyptian General Petroleum Corp (EGPC) has hired HSBC Bank to arrange a $1 billion loan, two banking sources said. The sources added that the loan was being requested by Petroleum Export Limited (PEL), a special purpose …
Egypt will pump the $1.2 billion financing into the 67.8 kilometre-long high-speed train project
15 July 11:54 AM Egypt to get $1.2bn financing from China
Cairo – Mubasher: Egypt will obtain a $1.2 billion financing from China as part of the Asian nation's $20 billion development loans to the Arab countries, a source said. On the sidelines of the China-Arab Cooperation Forum held last week in …
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14 July 07:52 PM CIB negates EGP 180m Alexandria fraud case
Cairo - Mubasher: The Commercial International Bank (CIB) has negated rumors that one of its employees may have stolen more than EGP 180 million ($10.1 million). In an official statement issued on Saturday, the bank said that is has completed a …
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12 July 07:37 PM FAB sells NBAD Jordan operations to SGBJ
Abu Dhabi - Mubasher: First Abu Dhabi Bank (FAB) has signed an agreement with Societe Generale de Banque - Jordanie (SGBJ) on Thursday to sell its National Bank of Abu Dhabi (NBAD) Jordan business operations to SGBJ. The deal includes the transfer …
CEO of Al Baraka Banking Group Adnan Yousif
12 July 03:54 PM Al Baraka Group eyes 15% market share by 2020
By: Islam Fadl Cairo – Mubasher: Al Baraka Banking Group is looking to boost its market share in the Egyptian private sector to 15% from 7% in the coming few years. The group seeks to raise its budget by EGP 39 billion to reach EGP 100 billion by …
NBE, EIB discuss $500m to $750m loan
12 July 01:27 PM NBE, EIB discuss $500m to $750m loan
Cairo – Mubasher: National Bank of Egypt (NBE) is in talks with the European Investment Bank (EIB) for financing ranging between $500 million and $750 million. NBE will also pump $150 million, around 20% of an international loan it signed last …
Mashreq Bank discloses AED66.5m exposure to Abraaj
12 July 01:22 PM Mashreq Bank discloses AED66.5m exposure to Abraaj
Dubai – Mubasher: Mashreq Bank on Thursday uncovered the level of its exposure to Abraaj Holdings amounts to nearly AED 66.459 million. The Dubai-based bank has 16.66 million shares in Abraaj Holdings amounting to AED 66.028 million. Mashreq also …
The fund may receive about $5 billion credit facilities
12 July 01:21 PM Saudi PIF may secure 1st multi-billion-dollar loan
Riyadh – Mubasher: Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), is negotiating a multi-billion-dollar-loan with a group of banks. The loan would be its first ever. The Saudi fund is looking to form a group of banks to …
The loan is part of the facility from a consortium of international and local banks
12 July 12:44 PM Empower settles AED 175m loan before due date
Dubai – Mubasher: Emirates Central Cooling Systems Corporation (Empower) announced settling a loan of AED 175 million ahead of schedule. This loan is part of the facility from a consortium of international and local banks and financial …
CBD uncovers $166m exposure to Abraaj
12 July 12:14 PM CBD uncovers $166m exposure to Abraaj
Dubai – Mubasher: The Commercial Bank of Dubai (CBD) on Thursday revealed that it has an exposure to Abraaj Holdings. The bank said its exposure was represented by secured credit facility of $166.25 million, according to a filing to the Dubai …
Al Khodari Sons renewed an Islamic facilities agreement with Riyad Bank worth SAR 231.377 million
12 July 09:57 AM Al Khodari Sons renews SAR 231m Islamic loan
Riyadh – Mubasher: Abdullah Abdul Mohsen Al Khodari Sons Company on Thursday said it has renewed an existing Islamic facilities agreement with Riyad Bank at a value of SAR 231.377 million ($61.7 million). The loan aims to provide bonding …
Banque Misr does not have any agreements with EEHC in the meantime
11 July 03:33 PM Banque Misr denies lending $230m to EEHC
By: Islam Fadl Cairo – Mubasher: State-owned Egyptian Electricity Holding Co (EEHC) has not obtained a $230 million loan from Banque Misr to finance its investment plan, the bank’s vice chairman Akef Abdel El Maghraby said. Egypt's second-largest …
The funding will be used to generate electricity across seven locations
11 July 01:24 PM Germany’s KfW to build EUR 30m hydroelectric plants in Egypt
Cairo – Mubasher: Frankfurt-based KfW Development Bank is looking to raise EUR 30 million in loans to finance the establishment of small hydroelectric power plants in Egypt. The funding will be used to generate electricity across seven locations …
Qatar seeks to raise $4 billion from banks to buy Eurofighter Typhoon combat jets
11 July 12:29 PM Qatar seeks $4bn loan for Typhoon fighter jets
Mubasher: Qatar is seeking to raise $4 billion from banks in order to finance the purchase of Eurofighter Typhoon combat jets. The Qatari government is working with financial consultants on the deal that will be backed by export credit agencies, …
In 2017, the bank launched ADIB Express branches
11 July 12:13 PM ADIB opens 2 new branches in UAE capital
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) has announced the inauguration of two new branches in its new headquarters and in the Abu Dhabi Judicial Department. The opening of the new branches affirms ADIB’s keenness on the realisation of …
The facility will be used in financing Egypt’s economic reform programme
10 July 11:20 AM Egypt, World Bank reach $2bn credit facility deal
Cairo – Mubasher: The Egyptian government has reached a $2 billion loan agreement with the World Bank, sources close to the matter said. The facility will be used in financing Egypt’s economic reform programme, of which the government implemented …
The bonds issue was covered 9.3 times
10 July 10:54 AM Kuwait C.bank sells KWD 240m bonds
Mubasher: The Central Bank of Kuwait (CBK) announced on Tuesday the selling of bonds and securities valued at KWD 240 million ($793.6 million). The central bank has raised the return on these bonds to 2.625%, the highest level since February 2008, …