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 …
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 …
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 …
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 …
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 …
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 …
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., …
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 …
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 …
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 …
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, …
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, …
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 …
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 …
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 …
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 …
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 …
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 …
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’ …
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 …
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 …
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 …
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 …
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 …
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 …
