Banking and Finance

The deal was approved by Egypt’s cabinet on 24 February
4 hours ago Sisi approves deal to open IsDB representative office in Egypt
Cairo – Mubasher: Egyptian President Abdel Fattah El-Sisi has issued a presidential decree to approve an agreement with the Islamic Development Bank (IsDB)  to open its representative office in Egypt, according to the country’s official gazette. …
​Meras e-services are linked with 22 government agencies
4 hours ago Saudi e-commercial registrations surge 64% in 2018
Riyadh – Mubasher: The E-commercial registrations in Saudi Arabia have increased by 64% during 2018 compared to in 2017. The commerce and investment ministry of Saudi Arabia showed that E-commercial registrations in 2018 totalled about 3,190 when …
NBK Research also predicts regional issuance to remain solid in 2019
5 hours ago GCC bond, sukuk issuance surges $32bn in Q1– NBK Research
Mubasher: The issuance of bonds and sukuk in the Gulf region has soared by $32 billion during the first quarter of 2019. The surge in Q1 bond and sukuk issuance in the GCC has raised outstanding debt in the region to $478 billion. Meanwhile, …
The USD-EGP exchange rate settled at EGP 16.9 for buying at NBE
11:07 AM USD stabilises against EGP early Thursday
Cairo – Mubasher: The US dollar exchange rate against the Egyptian pound has stabilised earlier on Thursday at 18 banks. The USD rate remained stable at EGP 16.9 for buying and EGP 17 for selling at National Bank of Egypt (NBE), Banque Misr, and …
The issuance will be used to finance the budget deficit
10:50 AM Egypt issues EGP 18bn T-bills Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 18 billion on Thursday on behalf of the Ministry of Finance (MoF). The first tranche of the T-bills will be offered through 182-day notes at EGP 8.75 …
Al Deera is seeking to achieve positive results over the coming period
10:34 AM Al Deera in talks to capitalise KWD 12.4m debts – chairman
Mubasher: Al Deera Holding Co. is negotiating with its lenders to capitalise KWD 12.36 million in debts, the company’s chairman said. These deliberations are part of the firm’s strategy to reduce expenses and financial burdens, Al Jarida reported, …
An existing transaction is reopened for subscription
10:11 AM Mashreq Bank raises $175m in bond reopening
Dubai – Mubasher: Mashreq Bank has raised $175 million by tapping a $500 million bond issued by the bank in February, Reuters reported on Wednesday. An existing transaction is reopened for subscription, using the same documentation as before. The …
The agreement will provide finance for modern technology projects
22 May 11:17 PM Saudi telecom ministry, Social Development Bank to support tech projects
Riyadh – Mubasher: Saudi Arabian Ministry of Communication and Information Technology has signed a cooperation agreement with Social Development Bank (SDB). The agreement aims at supporting and incentivising projects and activities relevant to …
Month-on-Month, foreign assets fell by 3%
22 May 01:57 PM UAE C. bank’s foreign assets up 12% in April
UAE – Mubasher: Total foreign assets of the Central Bank of the UAE (CBUAE) increased by 12% year-on-year in April, according to the CBUAE’s data. The central bank’s foreign-currency assets stood at AED 365.5 billion ($99.5 billion) at the end of …
M1 slipped by 0.3% month-on-month to AED 507.3 billion last April
22 May 09:13 AM UAE monetary aggregate M3 hits AED 1.64trn in April
UAE – Mubasher: The Central Bank of UAE's monetary aggregate (M3) edged up 0.2% in April, reaching AED 1.636 trillion, versus AED 1.632 trillion in March, according to the bank’s UAE Monthly Monetary Survey of April. On the other hand, the money …
The central bank’s current account balances totalled AED 23.5 billion at the end of April
22 May 08:55 AM UAE monetary base up 3.5% MoM in April
UAE – Mubasher: The UAE monetary base rose by 3.5% in April to around AED 386 billion, versus AED 373 billion in March, data by the Central Bank of the UAE showed. The monthly growth was mainly driven by improvement across all of the monetary …
Egypt’s foreign currency reserves registered $44.2 billion last April
21 May 02:21 PM EGP edges up against USD Tuesday
Cairo – Mubasher: The US dollar exchange rate against the Egyptian Pound slid by 1 to 2 piasters during Tuesday’s mid-trade at banks. The USD exchange rate fell by 2 piasters to EGP 17.01 for buying and EGP 17.09 for selling at Abu Dhabi Islamic …
SAR 1 billion will be injected in Istidama [Sustainability] programme
21 May 12:41 PM Social Development Bank to inject SAR 5bn financing in projects
Riyadh – Mubasher: The Social Development Bank (SDB) plans to allocate around SAR 5 billion to finance projects across Saudi Arabia over the coming five years, Ibrahim Al Rashid, general manager of SDB, told Al Eqtisadiah newspaper. Up to 80% of …
The financial impact of this settlement is a credit facility cost worth KWD 23,410
21 May 11:44 AM Al Aman Investment settles KWD 10m credit facility
Mubasher: Al Aman Investment said it repaid a KWD 10 million loan to a local bank on Monday, 20 May. The financial impact of this settlement is a credit facility cost worth KWD 23,410 that will be realised in the company’s consolidated financial …
Most of the ADX-listed banks posted solid profits for Q1
21 May 11:37 AM Abu Dhabi banks report robust profits in Q1 - Analysis
By: Mahmoud Gamal Abu Dhabi – Mubasher: Most of the banks listed on the Abu Dhabi Securities Exchange (ADX) have posted solid profits for the three-month period ended 31 March 2019. Profits of the lenders operating in the oil-rich emirate were …
The issue has a six-month maturity period that ends on 19 November
21 May 10:43 AM Kuwait C.bank issues KWD 240m bonds
Mubasher: The Central Bank of Kuwait (CBK) on Tuesday has issued bonds and related tawarruq worth KWD 240 million ($790.79 million), with a 3.125% yield. The issue, which was oversubscribed by 10.83 times at a total value of KWD 2.59 billion, has …
The new firm was financed by a combination of equity and a sharia-compliant financing facility
21 May 09:22 AM Ajman Bank, Rasmala launch AED 327m real estate investment entity
UAE — Mubasher: Ajman Bank announced it has launched Makaseb Real Estate Investments SPV Limited in the Abu Dhabi Global Market (ADGM) in collaboration with Rasmala Investment Bank Limited. The first transaction conducted under the new entity has …
A cargo railway line from Alexandria to 6th of October will be developed
20 May 01:38 PM Egypt, World Bank in talks to develop transport sector
Cairo – Mubasher: Egypt’s minister of transport Kamel El-Wazir has met with a World Bank delegation to consider the means to support and improve the country’s transportation infrastructure. Both sides agreed to develop a cargo railway line from …
Better Together is part of Emirates NBD’s ongoing customer service development programme
20 May 11:36 AM Emirates NBD launches ‘Better Together’ platform
Dubai – Mubasher: Emirates NBD on Monday announced the launch of ‘Better Together’, a new platform that will enable customers to co-drive innovation at the bank. Better Together is part of Emirates NBD’s ongoing customer service development …
The service will be launched within two months after KMEFIC runs the requisite technical tests.
20 May 09:54 AM Kuwait’s CMA awards market maker licence to KMEFIC
Mubasher: Kuwait and Middle East Financial Investment (KMEFIC) has received the Capital Markets Authority’s (CMA) preliminary approval for a six-month market maker licence, starting from 19 May, until 18 November. After that, KMEFIC will obtain a …
Egypt’s investment and international cooperation minister Sahar Nasr
20 May 09:52 AM Egypt invests EGP 3bn in Sinai’s development projects – Minister
Cairo – Mubasher: Total financing of development projects in the governorates of Sinai amounted to EGP 3 billion, Egypt’s investment and international cooperation minister said. These investments involve agriculture, housing, drinking water, and …
The move will step up the bank’s support to the UAE government’s vision
19 May 02:45 PM Emirates Islamic, Sheikh Zayed Housing partner to offer Emiratis home finance
Dubai – Mubasher: Emirates Islamic Bank, listed on the Dubai Financial Market (DFM), has struck a partnership with the Sheikh Zayed Housing Programme to offer home finance solutions to Emirati customers of the projects developed by the housing …
Corporate portfolio reached EGP 11.4 billion in December 2018
19 May 12:14 PM Attijariwafa Bank mulls launching new investment arms in Egypt – Interview
By: Islam Fadl Cairo – Mubasher: Attijariwafa Bank is looking at expanding across Egypt, raising its customer base, and financing medium-sized enterprises, the head of corporate and investment banking at Attijariwafa Bank – Egypt said in an …
The issuance will be used to finance the budget deficit
19 May 11:24 AM Egypt issues EGP 17bn T-bills Sunday
Cairo- Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 17 billion on Sunday on behalf of the Ministry of Finance (MoF). The first tranche of the T-bills will be offered through 91-day notes at EGP 8.5 …
The USD-EGP exchange rate settled at CIB at EGP 16.99 for buying
19 May 11:00 AM USD stabilises against EGP Sunday
Cairo – Mubasher: The US dollar exchange rate against the Egyptian pound has stabilised earlier on Sunday at 18 banks. The USD has been steady against the EGP at National Bank of Egypt (NBE) and Arab African International Bank (AAIB) at EGP 16.99 …