Banking and Finance

Kuwait Credit Bank's new building is expected to be opened to Public in 2019.
24 September 09:28 PM KCB major player in solving Kuwaiti housing issue
Mubasher: Kuwait Credit Bank (KCB) is playing a leading role in solving the housing issue beside the Public Authority for Housing Welfare, as part of the country's 2035-development vision, according to Kuwait News Agency (KUNA). Kuwait has pumped …
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24 September 07:06 PM Iraq receives $8.3bn grant from USA, Canada
Mubasher: The Iraqi ministry of foreign affairs announced on Saturday that Iraq has received a grant from the United States and Canada totalling more than $8 billion for the reconstruction of the country, according to a statement. Other countries …
Delta for Construction and Rebuilding on Sunday signed an EGP 641 million joint loan agreement
24 September 04:08 PM Delta for Construction and Rebuilding wins EGP 641m joint loan
Cairo – Mubasher: Delta for Construction and Rebuilding on Sunday signed an EGP 641 million joint loan agreement with Banque Misr and the Arab African International Bank (AAIB). Delta for Construction and Rebuilding is a subsidiary of Egyptian …
TE’s stake in Vodafone currently makes up 40% of its consolidated profits.
20 September 08:27 PM Will Telecom Egypt need to exit Vodafone after launching 4th mobile licence? - Analysis
By: Heba El-Kordy Analysts have expressed varying opinions with regards to Telecom Egypt’s (TE) exit from its 45% stake in Vodafone and the extend of its profitability from the newly-launched fourth mobile licence. TE’s stake in Vodafone currently …
The acquisition was made at SAR 29.5 per share
20 September 07:36 PM KHC closes $1.5bn acquisition in BSF
Riyadh – Mubasher: Kingdom Holding Company on Wednesday announced closing its acquisition of a 16.2% stake in Banque Saudi Fransi (BSF). The acquisition was made at SAR 29.5 per share, registering a total consideration of SAR 5.8 billion ($1.5 …
Emaar Development agreed on Murabaha agreement with First Abu Dhabi Bank, worth $1.5 billion
20 September 06:20 PM Emaar Development gets Islamic loan
Dubai – Mubasher: Emaar Properties, listed on Dubai Financial Market (DFM), on Wednesday announced that its board agreed on an Islamic- compliant financing (Murabaha) agreement between Emaar Development and First Abu Dhabi Bank, worth $1.5 …
The NBK’s share in this three-year contract reached $75 million
19 September 05:23 PM NBK pledges $75m in Alafco financing deal
Mubasher: The National Bank of Kuwait (NBK) has recently signed a joint financing contract for Aviation Lease and Finance (Alafco). The NBK’s share in this three-year contract reached $75 million (KWD 23 million); NBK was the lead arranger in this …
The new HQ will serve as a starting point to providing services to the US market
18 September 12:26 PM EFG Hermes to expand in US with new HQ
Cairo – Mubasher: Egyptian Financial Group Hermes Holding (EFG Hermes) on Monday announced the opening of new headquarters in New York under the name EFG Hermes USA Inc. The Egyptian financial services firm received the necessary licences to …
Around 92% of Emirates NBD’s transactions go through its digital platforms
17 September 06:43 PM Emirates NBD digitisation may result in lay-offs – CEO
Dubai – Mubasher: Emirates NBD Group CEO Shayne Nelson said that the bank was planning to invest around AED 1 billion in digitising the bank’s services over the next three years, The National reported on Sunday. Speaking about several aspects of …
Emirates NBD has not increased its branches in the UAE for several years
17 September 06:30 PM Emirates NBD to expand in Saudi Arabia
Dubai – Mubasher: Emirates NBD on Sunday said it was planning to approach the Saudi Monetary Agency (SAMA) to discuss expanding its presence in the kingdom, group CEO Shayne Nelson told The National. Dubai’s largest bank by assets is looking to …
Larger banks are investing heavily in digital transformation services
17 September 06:07 PM Small UAE banks should mull M&A deals to enhance competition – Emirates NBD CEO
Dubai – Mubasher: Smaller lenders in the UAE should consider merger and acquisition (M&A) deals as the UAE banking sector grows, The National reported on Sunday, citing Emirates NBD CEO Shayne Nelson as saying. Larger banks are investing heavily …
No bidders made any bids on Thursday, 14 September
17 September 04:55 PM GBK to sell Durrat Al Dar’s property at KWD 99m
Mubasher: Gulf Bank of Kuwait (GBK) announced on Sunday that the First Instance Court has decided to commence selling procedures of a property mortgaged to the bank and owned by Durrat Al Dar Real Estate. The sale of the 231.8 square-metre …
This facility allows us to diversify our asset book into Non-Bank Financial Institutions (NBFIs) in the region
14 September 03:11 PM RAKBANK arranges AED 125m facility to Reem Finance
Abu Dhabi – Mubasher: RAKBank arranged a AED 125 million credit facility to Abu Dhabi-based private joint stock company Reem Finance, according to a statement  “We are delighted to have partnered with Reem Finance to support their general …
Negative foreign investor sentiment has weighed down on Qatar's financing costs
13 September 01:44 PM Diplomatic rift ‘credit negative’ for all GCC – Moody’s
Mubasher: Moody’s Investors Service on Wednesday said that the diplomatic disagreement that took place between Qatar and a number of GCC and Arab countries is “credit negative for all GCC countries, with Qatar and Bahrain being most exposed.” …
The return on this bonds issue is 1.75%
12 September 05:31 PM Kuwait C.bank issues KWD 75m bonds
Mubasher: The Central Bank of Kuwait (CBK) has issued bonds worth a total of KWD 75 million, with maturity of three months. The issuance was covered 9.84 times, after receiving offers that were worth KWD 738 million, according to a recent …
The overall debts due on GIH were scheduled to be repaid on 31 December 2016
12 September 04:58 PM GIH defaults to repay KWD 1.56m debts
Mubasher: Gulf Investment House (GIH) announced that the company could not repay KWD 1.56 million out of a total KWD 3 million debts under the article of murabaha creditors’ accounts. The overall debts due on GIH were scheduled to be repaid on 31 …
Al Etihad Credit to offer reports before granting personal or commercial loans
6 September 11:59 AM Etihad Credit to offer reports before granting loans – UAE C.bank
Abu Dhabi – Mubasher: The Central Bank of the UAE has issued an announcement obligating banks and financing companies across the UAE to request reports from Al Etihad Credit Bureau before granting personal or commercial loans. The central bank …
SODIC signed a credit facility agreement of EGP 270 million with CIB
30 August 05:34 PM SODIC, CIB ink credit facility worth EGP 270m
Cairo – Mubasher: Sixth of October for Development and Investment Company (SODIC) on Wednesday signed a medium-term credit facility agreement worth EGP 270 million with Commercial International Bank – Egypt (CIB). SODIC aims to use this loan to …
The return on these bonds is 2.25%
30 August 03:47 PM Kuwait C.bank sells KWD 100m treasury bonds
Mubasher: The Central Bank of Kuwait (CBK) registered a total of KWD 100 million from offering two-year treasury bonds for sale. The return on these bonds is 2.25%, according to a bourse statement issued on Wednesday. The bonds issuance was …
Transactions at the Kuwaiti banks will resume on 5 September
28 August 04:50 PM Kuwaiti banks to close on Eid Al Adha holiday
Mubasher: The Central Bank of Kuwait (CBK) announced that local banks will be closed for five days on the occasion of Eid Al Adha Holiday. The holiday for local banks is scheduled to be from Thursday, 31 August until Monday, 4 September, according …
Credit in Kuwait’s banking system registered a healthy gain in June
28 August 03:23 PM Kuwait bank reserves fall to KWD 4.6bn in June – NBK
Mubasher: The banking system’s liquid reserves (excess liquidity) in Kuwait, declined by KWD 170 million in June, accounting for 7.4% of bank assets, according to a recent report issued by the National Bank of Kuwait (NBK). Bank reserves, …
Deposits amounted to EGP 2.973 trillion by the end of May
26 August 06:12 PM Egypt’s bank deposits rise 43% in May
Cairo - Mubasher: The data of the Central Bank of Egypt (CBE) showed a rise in total bank deposits during May 2017, by 43% year-on-year. Deposits amounted to EGP 2.973 trillion in May, compared to EGP 2.079 trillion for the same month last year, …
The Central Bank of the United Arab Emirates
26 August 04:16 PM UAE central bank withdraws AED8.2bn excess liquidity
Abu Dhabi - Mubasher: The UAE Central Bank has withdrawn AED 8.2 billion out of excess liquidity in the market during July after pumping AED 11.3 billion in June. Emirates News Agency (WAM) reported that the move fits within the central bank's …
The deal aims to bolster firms and small enterprises through providing their projects with a low interest rate
23 August 04:45 PM EALB, EFG Hermes ink EGP 50m deal to fund small enterprises
Cairo – Mubahser: Egyptian Financial Group Hermes Holding (EFG Hermes) has signed a joint cooperation agreement worth EGP 50 million with the Egyptian Arab Land Bank (EALB) to fund fixed assets and small enterprises. EFG Hermes said in a statement …
The bonds will have a return of 2.5%
23 August 04:29 PM CBK issues bonds worth KWD 100m
Mubasher: The Central Bank of Kuwait (CBK) on Wednesday issued 3-year bonds worth KWD 100 million. The bonds will have a return of 2.5%, according to a CBK statement, while the issue was subscribed 4.9 times. The central bank has issued KWD 2.3 …