Banking and Finance

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22 September 06:19 PM AfDB prepares $500m loan to Egypt
Cairo - Mubasher: The African Development Bank (AFDB) is preparing the third and final tranche of a $1.5 billion of a loan to Egypt. the third tranche will be directed to supporting the government program that aims at achieving a sustainable …
The debts will be paid off during a 40-year period
20 September 04:23 PM Kuwait Fund inks deal with Jordan to schedule $300m debts
Mubasher: Kuwait Fund for Arab Economic Development (Kuwait Fund) has signed an agreement with the Jordanian government on Thursday to schedule debts valued at $300.7 million, Kuwait News Agency (KUNA) said. This agreement aims at scheduling …
Pakistan seeks financial aid from Saudi Arabia
20 September 04:05 PM Pakistan seeks financial aid from Saudi Arabia
Riyadh – Mubasher: Pakistan’s Prime Minister Imran Khan on Wednesday met with Saudi King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman in a bid to secure a financial aid for his country, AFP reported. The two-day visit marked Khan’s …
Credit Agricole Egypt offered the highest US dollar rate at EGP 17.88 for buying
20 September 12:02 PM EGP mixed against FX currencies Thursday
Cairo – Mubasher: The performance of the Egyptian pound was mixed on Thursday against foreign currencies at national and private banks. Credit Agricole Egypt offered the highest US dollar rate at EGP 17.88 for buying and EGP 17.98 for selling, …
The issuance will be used to finance the budget deficit
20 September 10:21 AM CBE issues EGP 16.75bn T-bills Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 16.75 billion on Thursday on behalf of the Ministry of Finance (MOF). The first tranche of T-bills will be offered through 182-day notes at EGP 8.25 …
The long and short-term foreign currency ratings (FCRs) were also affirmed at 'A' and 'A2'
19 September 05:58 PM Capital Intelligence affirms Ahli Bank rating at 'A-'
Mubasher: Capital Intelligence has reaffirmed its rating for Ahli Bank’s financial strength rating (FSR) at 'A-' with a stable outlook. The long and short-term foreign currency ratings (FCRs) were also affirmed at 'A' and 'A2', respectively, with …
Burgan Bank’s Core Equity Tier 1 Ratio
19 September 05:45 PM Burgan Bank launches rights issue to raise up to KWD 62.55m
Mubasher: Burgan Bank has commenced its capital rights offering process on Wednesday, 19 September, to increase up to KWD 62.55 million of additional capital, according to an official statement. The subscription period for raising Burgan Bank’s …
Al khaliji board decided not to pursue the process any further
19 September 05:24 PM Al khaliji suspends disposal of Al Khaliji France
Mubasher: Al Khalij Commercial Bank (Al khaliji) on Wednesday announced that it has entered into talks with various bidders for the disposal of its subsidiary, Al Khaliji France S.A. The bank’s board saw that the various offers received were not …
Oula Fuel's stock closed Wednesday’s session 0.83% lower
19 September 04:18 PM Oula Fuel inks KWD 6m loan deals with KIB
Mubasher: Oula Fuel Marketing announced that it has signed two contracts valued at KWD 6 million ($19.9 million) to obtain a murabaha loan from KIB, according to a bourse disclosure on Wednesday. The first loan has a value of KWD 4 million, while …
Global Lease  obtained EGP 1 billion in financing from six Egypt-based banks during the first eight months of this year
19 September 02:19 PM Global Lease gets EGP 1bn loans from local banks
By: Islam Fadl Cairo – Mubasher: Global Lease has obtained EGP 1 billion in financing from six Egypt-based banks during the first eight months of this year, the company’s chief risk officer said. The leasing firm has received loans worth a …
Al Hilal Bank's issuance was nearly three times oversubscribed
19 September 01:37 PM Al Hilal Bank closes $500m senior 5-yr sukuk
Abu Dhabi – Mubasher: Al Hilal Bank has successfully issued $500 million five-year senior sukuk, which are considered the UAE’s first senior public sukuk since April. The transaction was the result of the bank’s extensive marketing strategy that …
UAE C.Bank foreign exchange reserves fall in August
19 September 11:30 AM UAE C.Bank foreign exchange reserves fall in August
Abu Dhabi – Mubasher: Foreign exchange reserves held by the Central Bank of the UAE (CBUAE) declined to AED 329.53 billion ($89.73 billion) in August, compared to AED 332.31 billion ($90.49 billion) a month earlier. Moreover, credit and deposits …
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18 September 09:31 PM IDBE expands SMEs financing; more to come - Official
By: Eslam Fadl Cairo - Mubasher: The Industrial Development Bank of Egypt (IDBE) has pumped EGP 150 million in financing for small and medium-sized enterprises (SMEs) from the beginning of August until mid-September. The bank is looking forward to …
The new loan would replace another EUR 2.25 billion loan
18 September 06:48 PM QNB negotiates EUR 2.25bn syndicated loan
Doha – Mubasher: Qatar National Bank (QNB) is in talks with a group of major banks to refinance an EUR 2.25 billion ($2.63 billion) syndicated loan, informed sources told Reuters on Tuesday. The new loan would replace another EUR 2.25 billion loan …
Burgan Bank-Turkey monitors its clients’ sensitivity to foreign-exchange rates
18 September 06:23 PM Burgan Bank-Turkey adjusting well – Chairman
Mubasher: Burgan Bank said that its business in Turkey remains vigilant with regards to the volatility in Turkey, according to an official statement. The bank’s Turkish subsidiary, Burgan Bank-Turkey is currently not witnessing any material impact …
ECARD is studying the closure of a deal with India’s Escorts Group
18 September 06:18 PM ECARD obtains EGP 28m for agri-machinery in 8M
By: Islam Fadl Cairo – Mubasher: The Egyptian Company for Agricultural and Rural Development (ECARD), fully-owned by the Agricultural Bank of Egypt (ABE), has secured EGP 27.86 million ($500,000) in financing from the ABE from January to August. …
Ithmaar Bank’s customers will simply use their fingerprint
18 September 06:04 PM Ithmaar Bank to launch 1st biometric payment network
Mubasher: Ithmaar Bank and Eazy Financial Services intend to launch the region’s first biometric payment network, backed by the Labour Fund “Tamkeen”, providing a new and more efficient alternative for customers to execute several financial …
Loans increased to QAR 925.79 billion in August
18 September 05:42 PM Qatar’s bank credit grow 3% in August – QCB
Mubasher: Bank lending in Qatar witnessed a 2.86% year-on-year increase in August, Qatar Central Bank (QCB) said. Loans increased to QAR 925.79 billion ($256.08 billion) last month, compared to QAR 900.02 billion ($248.95 billion) in August 2017. …
Total deposits amounted to QAR 807.34 billion in August
18 September 05:20 PM Qatar bank’s deposits hit QAR 807bn in August – QCB
Mubasher: Deposits at banks operating in Qatar increased by 1.7% year-on-year in August, the Qatar Central Bank’s (QCB) data showed. Total deposits amounted to QAR 807.34 billion ($223.32 billion) in August, compared to QAR 793.64 billion ($219.53 …
Travelex Bahrain will offer its new service in its 25 branches across Bahrain
18 September 03:08 PM Travelex Bahrain inks partnership with iREMIT
Mubasher: Travelex, the leading foreign exchange specialist, has signed a partnership agreement with the authorised Philippines-based remittance agency iREMIT in a bid to offer the best to Filipino customers in Bahrain, according to a recent …
The rights issue will increase ADIB’s issued and subscribed to share capital to AED 3.6 billion
18 September 03:00 PM Rights trading period for ADIB’s AED 1bn rights issue starts Tuesday
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) on Tuesday announced that its rights trading period for AED 1 billion rights issue will start today 18 September. Shareholders of the leading financial institution will have the option of trading …
Credit Agricole offered the highest US dollar rate at EGP 17.88 for buying and EGP 17.98 for selling
18 September 01:43 PM EGP mixed against FX currencies Tuesday
Cairo – Mubasher: The Egyptian pound stable on Tuesday against foreign currencies at national and private banks, compared to Monday. Credit Agricole Egypt offered the highest US dollar rate at EGP 17.88 for buying and EGP 17.98 for selling, …
The bonds were covered 12.94 times
18 September 12:19 PM Kuwait C.bank issues KWD 160m bonds
Mubasher: The Central Bank of Kuwait (CBK) has issued on Tuesday bonds and securities valued at KWD 160 million ($529.31 million), according to recent official data. Kuwait’s central bank noted that the bonds have a return of 2.50%, while they …
Retail CEO of NBE Alaa Farouk
17 September 03:09 PM NBE to inject EGP 500m into mortgage finance in 10M
By: Islam Fadl Cairo – Mubasher: National Bank of Egypt (NBE) is looking to pump EGP 500 million into the Central Bank of Egypt’s (CBE) mortgage finance initiative until June 2019, the bank’s retail CEO said. Egypt's biggest state-owned lender is …
Vice chairman of Banque Misr Akef El Maghraby
17 September 12:37 PM Banque Misr mulls EGP 35bn financing for various projects
By: Islam Fadl Cairo – Mubasher: Banque Misr is currently considering a credit facility worth EGP 35 billion for several projects, vice chairman Akef El Maghraby said. The loan will finance a number of projects in the sectors of petroleum, …