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 …
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 …
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, …
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: 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 …
Mubasher: Boursa Kuwait on Monday announced that Gulf Bank has sold its 22.05 million-share stake in Kuwait Finance and Investment’s (KFIC) capital to Abdullah Al Hamad Al Saqr and Brothers Co. The sale process was carried out via an agreed …
Mubasher: The National Bank of Kuwait (NBK) has denied media reports and rumours circulating on social media platforms that a lawyer has filed a lawsuit in the Egyptian State Council requesting to rescind the sale transaction of the National Bank …
Mubasher: Moody's Investors Service has affirmed Warba Bank’s Baseline Credit Assessment (BCA) and the adjusted BCA at ‘ba3’, and changed the outlook to ‘Stable’ from ‘Positive’. The bank’s long-term and short-term deposits were affirmed at ‘Baa2’ …
Mubasher: The board of Metal and Recycling Company has submitted its recommendation to the annual general meeting (AGM) for the approval of a credit facility agreement with Agility International Investment, a fully-owned subsidiary of Agility …
Mubasher: Moody's Investors Service has affirmed Gulf Bank's long-term deposits at ‘A3’ and the short-term deposits at ‘P-2’. The rating agency has also changed the bank's outlook to ‘Stable’ from ‘Positive’, according to a bourse statement on …
Mubasher: Al Kout Industrial Projects has signed a credit facility agreement with Boubyan Bank at a total value of KWD 10 million to finance the company’s activities. The transaction has a positive impact that will reflect on the company's …
Abu Dhabi – Mubasher: Commercial Bank International (CBI) has negated any financial exposure to Phoenix Commodities Pvt or its related parties, according to the bank's disclosure to the Abu Dhabi Securities Exchange (ADX) on Monday. Founded 20 …
Mubasher: Preliminary data of Kuwait's Balance of Payments (BoP) for fiscal year (FY) 2019 showed a surplus of KWD 821.2 million ($2.7 billion), compared with KWD 1.1 billion ($3.6 billion) in 2018. The current account surplus soared by 11.9% last …
Mubasher: Kuwait Banking Association (KBA) announced the closure of all banks effective Monday, 11 May, through to 30 May in line with the directives of the Central Bank of Kuwait (CBK) and the government’s decision to impose a full curfew …
Mubasher: Kuwait Finance House (KFH) has received a letter from the Central Bank of Kuwait (CBK) on Tuesday, 5 May, requesting KFH to conduct a comprehensive reassessment of its acquisition of Bahrain’s Ahli United Bank (AUB). The reassessment …
Mubasher: The Central Bank of Kuwait (CBK) on Tuesday issued KWD 240 million worth of bonds and related tawarruq, with a 1.25% return rate. The issue was oversubscribed by 11.36 times with a total demand value of KWD 2.73 billion, according to …
Mubasher: Kuwait Finance House (KFH) has rescinded the contract of the bank’s CEO Mazin Saad Al Nahedh effective Monday, 4 May, without a notice period. The board assigned Ahmad Saud Al Kharji to assume the duties and responsibilities of the CEO …
Mubasher: The Central Bank of Kuwait (CBK) has offered bonds and related tawarruq at a total value of KWD 240 million, with a 1.25% rate of return. The offering carries a maturity period of three months, according to official data by the CBK on …
Mubasher: Moody’s Investors Service has maintained all credit ratings of the Commercial Bank of Kuwait (CBK), with a ‘Stable’ outlook. The rating agency maintained the ratings of the lender’s long-term and short-term deposits at “A3” and “P-2”, …
Mubasher: The Central Bank of Kuwait (CBK) on Monday offered bonds and related tawarruq at a total value of KWD 200 million, with a 1.250% return rate. The bonds have a three-month maturity period, according to official data by the CBK. Bonds and …
Cairo – Mubasher: The Egyptian pound exchange rate has stabilised against the US dollar during mid-trades on Sunday at local banks. The USD remained unchanged at EGP 15.68 for buying and EGP 15.78 for selling at the National Bank of Egypt (NBE) …
Mubasher: Ahli United Bank – Kuwait (AUB Kuwait) will distribute the seventh periodic dividends worth $5.50 million to the permanent Sukuk shareholders of the Ahli United Sukuk Limited Company. The total value of the Sukuk is $200 million, with a …
Mubasher: The total value of Kuwait's foreign reserves rose by 8.57% year-on-year (YoY) to KWD 12.42 billion ($39.96 billion) in February 2020, according to the monthly statistics by the Central Bank of Kuwait (CBK). In February 2019, the foreign …
