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Banking and Finance

The UAE banks provided AED 1.6 billion facilities to the business and industrial sectors
17 June 01:56 PM UAE banks grant AED 1.6bn facilities to business, industrial sectors in April
UAE - Mubasher: The banks operating in the UAE have provided AED 1.6 billion facilities to the business and industrial sectors during April 2021, up from March, according to the latest data by the Central Bank of the UAE (CBUAE), the Emirates News …
The Tier 1 Capital Certificates has attracted over $ 1.7 billion in orders
17 June 12:37 PM Kuwait's Ahli United Bank lists $600m Sukuk on Nasdaq Dubai
UAE - Mubasher: Nasdaq Dubai has welcomed the listing of a $600 million Sukuk by Ahli United Bank (AUB), a Kuwaiti financial institution. The Tier 1 Capital Certificates has attracted over $ 1.7 billion in orders, according to a press release on …
The new base rate set by the central bank is 15 basis points
17 June 12:10 PM CBUAE raises overnight base rates 5 basis points
UAE - Mubasher: The Central Bank of the UAE (CBUAE) has increased the base rate applicable to the overnight deposit facility (ODF) by five basis points, effective from 17 June 2021. The new base rate set by the central bank is 15 basis points, …
The shareholder has offered 164 million shares in the bank
17 June 11:05 AM ADCB investor exits with AED 1.1bn stake sale
Abu Dhabi – Mubasher: An investor in Abu Dhabi Commercial Bank (ADCB) has exited from its investments in the lender by selling its entire stake in exchange for around AED 1.1 billion ($300 million), Bloomberg reported. The shareholder has offered …
Network’s clients will benefit from CBD's high business loan amounts
17 June 10:03 AM CBD partners with Network International to offer pre-approved business loan
Dubai - Mubasher: Commercial Bank of Dubai (CBD) has partnered with Network International, a provider of digital commerce services in the Middle East and Africa (MEA) region, to offer merchant clients a pre-approved business loan, the Emirates …
SAMA has claimed the Global Impact Award 2021 for Aber
16 June 03:21 PM SAMA says Aber project achieves main objectives
Riyadh – Mubasher: The Saudi Central Bank (SAMA) said the digital currency project Aber has succeeded to achieve its main objectives that mainly include understanding, experiencing, and analysing the maturity of the distributed ledger technology …
The bank has issued the Sukuk at 110 basis points
16 June 12:30 PM DIB sells $1bn in five-year Sukuk
Dubai – Mubasher: Dubai Islamic Bank (DIB) has sold five-year Sukuk worth $1 billion after receiving over $2.8 billion in orders for the Islamic bonds, Reuters reported. The bank has issued the Sukuk at 110 basis points (bps) over mid-swaps, …
The Middle East listed banks reduce competition and increase their expertise
16 June 11:02 AM Saudi Arabia, UAE dominate Forbes Middle East’s top 50 listed banks
Mubasher: Saudi and Emirati banks had the most entries in Forbes Middle East’s Top 50 Banks in The Middle East list for 2021 with 10 financial institutions each. Qatar National Bank topped the region’s listed banks with profits of $3.3 billion and …
HD Bank achieved a 7.8% annual growth in interest revenues
15 June 03:07 PM HD Bank logs EGP 651m in Q1 consolidated profits
Cairo – Mubasher: Housing and Development Bank (HD Bank) recorded a consolidated net profit after tax worth EGP 651.06 million during the first quarter (Q1) of 2021, higher by 7.6% than EGP 604.58 million in Q1-20. HD Bank achieved a 7.8% annual …
Repaying the credit facility will contribute to reducing financing expenses
15 June 11:15 AM Watani Iron Steel fully repays loan from SABB- Alawwal Bank
Riyadh – Mubasher: Watani Iron Steel Company has fully repaid a short-term loan worth SAR 40 million from Saudi British Bank (SABB)- Alawwal Bank, according to a bourse filing on Tuesday. Repaying the credit facility will contribute to reducing …
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14 June 02:32 PM ADX lists EUR 1bn bonds issued by Etisalat
UAE – Mubasher: The Abu Dhabi Securities Exchange (ADX) has listed EUR 1 billion worth of bonds issued by Emirates Telecommunications Group Company (Etisalat) through two equal tranches maturing in 2028 and 2033, respectively. The bonds were more …
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14 June 01:58 PM Stanford Marine secures $45m bank loan
Dubai – Mubasher: Shuaa Capital announced that its subsidiary, Stanford Marine Group, has secured $45 million (AED 165 million) financing from the National Bank of Fujairah (NBF). The National Bank of Fujairah will be providing the finances …
Dubai Islamic Bank
14 June 12:43 PM DIB to issue five-year USD-denominated Sukuk
Dubai – Mubasher: Dubai Islamic Bank (DIB) has reportedly hired seven banks to manage a US-dollar-denominated five-year Sukuk offering, Reuters reported. The size of the offering is expected to be no less than $500 million. Alongside DIB, Arab …
Egypt aims to finance its budget deficit by offering debt instruments
14 June 10:51 AM Egypt auctions T-bonds worth EGP 16.5bn on Monday
Cairo – Mubasher: The Central Bank of Egypt (CBE) is offering on Monday additional treasury bonds (T-bonds) worth EGP 16.5 billion in total over three tranches, according to official data. The first set of notes amounts to EGP 5 billion and holds …
International Cooperation Minister Rania El-Mashat and EBRD President Odile Renaud-Basso
13 June 08:42 PM Egypt, EBRD discuss joint cooperation within new strategy
Cairo – Mubasher: The Egyptian Minister of International Cooperation, Rania El-Mashat, met with the European Bank for Reconstruction and Development (EBRD) President Odile Renaud-Basso to discuss cooperation within Egypt’s priorities and the …
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13 June 08:16 PM Banque Misr signs EGP 500m contract for Tamkeen microfinance project
Cairo – Mubasher: Banque Misr signed on Sunday the contract for the Tamkeen microfinance project with a total value of EGP 500 million from the Enterprise Development Agency. The contract was signed in the presence of the Egyptian Minister of …
The loan is valid until June 2022
13 June 05:43 PM MIS obtains SAR 332.5m loan from Banque Saudi Fransi
Riyadh – Mubasher: Al Moammar Information Systems Company (MIS) has renewed a Sharia-compliant banking facility agreement with Banque Saudi Fransi on Sunday, according to a bourse filing to Tadawul. MIS will receive a loan worth SAR 332.45 million …
The second auction amounts to EGP 8 billion
13 June 10:54 AM Egypt offers EGP 18.5bn T-bills on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) is offering new treasury bills (T-bills) at a total value of EGP 18.5 billion over two tranches on Sunday, according to official figures. The first issue stands at EGP 10.5 billion in value, …
The CBUAE and CBE will coordinate in preventing money laundering
10 June 01:45 PM CBUAE, CBE ink MoU to promote banking supervisory cooperation
UAE - Mubasher: The Central Bank of the UAE (CBUAE) has inked a Memorandum of Understanding (MoU) with the Central Bank of Egypt (CBE) to promote supervisory cooperation and facilitate financial stability mandates. Under the MoU, the two central …
The imported goods included wheat, legumes, and maize
10 June 12:11 PM Port Said collects EGP 3.2bn customs, taxes in May
Cairo – Mubasher: The Egyptian Customs Authority collected EGP 3.253 billion in customs duties, taxes, and charges at Port Said Customs during May. The total value of taxes and customs duties collected for imported goods at Port Said amounted to …
The bank said the minimum subscription value is SAR 1 million
10 June 11:06 AM Alinma Bank announces details of SAR-denominated Sukuk issue
Riyadh – Mubasher: Alinma Bank announced that investors can subscribe to the additional Tier 1 SAR-denominated Sukuk offering as of 10 June and until 8 July, according to a disclosure to Tadawul on Thursday. The bank said the minimum subscription …
The issuance will be used to finance the country’s budget deficit
10 June 10:35 AM CBE offers EGP 17.5bn T-bills on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 17.5 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 10.5 …
The issuance was priced at a fixed re-offer yield of 1.639% per annum
10 June 09:39 AM Emirates Development Bank closes $750m bond issuance
UAE - Mubasher: Emirates Development Bank (EDB), wholly owned by the UAE federal government, has successfully closed its $750 million five-year bond issuance. The issuance, priced at a fixed re-offer yield of 1.639% per annum in the Regulation S …
SACO has raised the loan value by SAR 82.04 million
9 June 05:46 PM SACO increases loan value from SABB to SAR 413m
Riyadh – Mubasher: The Saudi Company for Hardware (SACO) has raised the value of the credit facilities obtained from the Saudi British Bank (SABB) to SAR 412.95 million. Based on the contract signed between the two parties in 2019, SACO has raised …
Alinma Bank aims to strengthen its capital base
9 June 05:00 PM Alinma Bank to issue SAR-denominated Sukuk
Riyadh – Mubasher: Alinma Bank plans to issue SAR-denominated additional Tier 1 Sukuk. The bank will later announce the number and value of the Sukuk issue, according to a bourse filing on Wednesday. Alinma Bank aims to strengthen its capital base …