Banking and Finance

Photo Credit: Arabianeye-Reuters
27 April 10:45 AM Telecom Egypt denies EGP 13bn loan news
Cairo – Mubasher: Telecom Egypt has denied the news recently published on signing a loan agreement at the beginning of May, according to a bourse statement issued on Thursday. The company said it is still negotiating and has not yet signed any …
Photo Credit: Arabianeye-Reuters
25 April 10:57 AM CDB offers financing facilities to Egyptian oil projects
Cairo - Mubasher: The Egyptian minister of petroleum Tarek El-Molla has discussed with the China Development Bank (CDB) the opportunities for cooperation and partnerships in new projects, the ministry said in a statement on Tuesday. The Chinese …
The Egyptian Minister of Investment and International Cooperation, Sahar Nasr - (Photo Archive)
23 April 05:48 PM Egypt spent $700m from the IFC portfolio
Cairo - Mubasher: The Egyptian minister of investment and international cooperation said that Egypt has used $700 million between 2015 and April 2017, as part of the cooperation portfolio with the International Finance Corporation (IFC). Sahar …
Photo Credit: Arabianeye-Reuters
19 April 12:18 PM Al Baraka Turk Murabaha totals $213m
Mubasher: Al Baraka Banking Group said that the value of Al Baraka Turk Participation Bank’s banking facility Murabaha stands at $213 million, according to a bourse statement issued on Wednesday. This Murabaha loan is earmarked for expanding Al …
Photo Credit: Arabianeye-Reuters
18 April 05:19 PM Kuwait credit value rises 3.3% in February
Mubasher: The banks in Kuwait posted a growth of 3.3% in credit value at KWD 34.4 billion in February; the lowest credit growth in five years, according to a recent report issued by Kuwait Finance House (KFH). The granted loans edged up by 0.6% in …
Photo Credit: Arabianeye-Reuters
18 April 11:33 AM CBB says loans rise to BHD 627.84m
Mubasher: Recent data issued by the Central Bank of Bahrain (CBB) showed that net credit facilities increased to BHD 627.84 million on Monday, compared to BHD 620.39 million on Sunday. Month-long deposits amounted to BHD 266.5 million, while …
(Photo Credit: Arabianeye-Reuters)
18 April 08:48 AM AUB confirms signing a $550m co-finance deal
Kuwait – Mubasher: Ahli United Bank (AUB), listed on both the Kuwaiti and Bahraini bourses, on Tuesday confirmed signing a $550 million co-financing deal to finance the expansion of Bahrain National Gas’ operations. Last week, Bahrain News Agency …
Photo Credit: Arabianeye-Reuters
17 April 11:27 AM BBK confirms participation in $515m loan
Mubasher: Bank of Bahrain and Kuwait (BBK) confirmed providing a credit facility included in a loan worth a total of $515 million, according to a bourse statement issued on Monday. Last week, a website said that Bahrain National Gas Expansion …
The finance will be used for Line 6 Expansion Project - (Photo Credit: Company Website)
16 April 06:50 PM Alba secures $700m finance facilities
Mubasher: Aluminium Bahrain (Alba) announced on Sunday that it has secured commitments of around $700 million from Export Credit Agency (ECA) supported facilities to finance Line 6 Expansion Project. The finance facilities are made-up of a dual …
Photo Credit: Arabianeye-Reuters
13 April 02:45 PM Al Imtiaz repays entire debts to bank
Mubasher: Al Imtiaz Investment Group has repaid its KWD 6.93 million worth of remaining debts due to a local bank in return for Murabaha credit contracts, according to a bourse statement issued on Thursday. Following the repayment, the assets and …
Photo Archive
12 April 09:24 PM National Bonds records 75% rise in regular savers
Dubai - Mubasher: National Bonds Corporation announced on Wednesday that its consistent message of encouraging a savings discipline has resulted in a 75% increase in its regular savers in the UAE last year. National Bonds, which is owned by the …
Photo Credit: Arabianeye-Reuters
12 April 07:53 PM PBDAC restarts loan talks with World Bank
By: Islam Fadl Cairo - Mubasher: The chairman of the Principal Bank for Development and Agriculture Credit (PBDAC) said that the bank has renewed negotiations with the World Bank (WB) to obtain a loan of $500 million after reconciliation. El-Sayed …
One of Emirates NBD's branches (Photo Credit: Arabianeye-Reuters)
12 April 02:58 PM Emirates NBD participates in loan facilities for Turkey’s bank
Dubai – Mubasher: Turkey’s The Ziraat announced the conclusion of its $278 million and €706.50 million dual currency term loan facilities inked on 3 April 2017, according to a statement. Bank of America Merrill Lynch and Emirates NBD Capital acted …
Photo Credit: Mubasher
12 April 02:50 PM Social Fund, PBDAC ink EGP 100m finance agreement
By: Islam Fadl Cairo - Mubasher: The managing director of the Egyptian Social Fund for Development (SFD), Nevine Gamea, said that an EGP 100 million contract has been signed with the Principal Bank for Development and Agriculture Credit (PBDAC). …
Islamic Banking
12 April 08:44 AM Islamic Banking: The current, the potential, and the challenges
Cairo – Decypha: Islamic finance, as an industry, has been witnessing substantial growth in the past decade. From the business side, the sector has mainstreamed within the global financial system and started to gain a firm foothold especially in …
Photo Credit: Arabianeye-Reuters
11 April 02:00 PM International Resorts inks loan deal
Mubasher: International Resorts has signed a credit facility agreement to finance capital requirements. The loan deal is worth KWD 500,000 ($1.64 million), according to a bourse statement issued on Tuesday. The financial impact from this loan …
(Photo Credit: Arabianeye-Reuters)
10 April 03:31 PM Al Asmak to obtain SAR 43m loan from SIDF
Riyadh – Mubasher: Saudi Fisheries Co (Al Asmak) signed an agreement with the Saudi Industrial Development Fund (SIDF) to receive a loan worth SAR 42.5 million. The loan’s maturity will last from 23 November 2018 to 2 April 2026, with a target to …
Leb
10 April 08:44 AM Report: Lebanon to see a 20% boost in financial inflows
Beirut – Decypha: Due to the improvements in Lebanon’s political and economic conditions, the country is expected to see a boost in financial inflows by 20%, according to a report by Bank Audi. The bank is basing its forecast on the double digit …
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6 April 09:40 AM Saudi Aramco raises SAR 11.25 in sukuk issuance
Riyadh- Decypha: In its debut sukuk issuance, The Saudi Arabian Oil Company, known as Saudi Aramco, has raised SAR 11.25 billion ($3.00 billion). The Islamic bond, in the floating rate local currency, has a seven-year maturity and is part of a …
Photo Credit: Arabianeye-Reuters
6 April 08:54 AM Noor unit renews loan contracts
Mubasher: Noor Financial Investment said that a 53%-owned subsidiary has renewed two credit facility contracts with a local bank, according to a bourse statement issued on Thursday. The first loan contract is worth KWD 3.25 million, with the …
(Photo Credit: Arabianeye-Reuters)
5 April 06:25 PM Banque Misr in talks over $700m loan
Cairo – Mubasher: Banque Misr entered into negotiations with the African Export-Import bank (Afreximbank) and the European Investment Bank (EIB) to borrow $700 million, Al Borsa newspaper reported, citing the bank’s vice president. It is expected …
(Photo archive)
5 April 03:30 PM SAPTCO, Sabb ink Murabaha facility worth SAR 47m
Riyadh – Mubasher: Saudi Public Transport Company (SAPTCO) signed a Murabaha facility agreement at a value of SAR 46.6 million with the Saudi British Bank (SABB). The facility is secured by a promissory note, according to a bourse filing on …
Photo Credit: Press Release
5 April 02:29 PM WB delegation to visit Egypt in weeks
Cairo - Mubasher: The Egyptian minister of investment and international cooperation said that a delegation from the World Bank will visit Egypt in the upcoming weeks to discuss a number of new projects. Sahar Nasr added in a statement on Wednesday …
(Photo Credit: previous Press Release)
5 April 02:00 PM ABC to finance 1st copper tube plant in Middle East
Mubasher: Arab Banking Corporation (ABC) will participate in establishing the first copper tube manufacturing facility in the Middle East in Bahrain. The project is a joint venture between three companies, namely Mueller Middle East, Bahrain …
MoF
5 April 01:30 PM MOF: Kuwait to continue issuing international bonds to fix budget gap
Kuwait – Decypha: Kuwait will address budget deficit occurred, as a consequence of low international oil prices, through increasing international borrowing. After raising $8 billion from the first international bond issue in March, Kuwait plans to …