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Banking & Insurance

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30 November 05:49 PM IsDB’s ICIEC signs agreement with Japan's NEXI to boost trade relations
Mubasher: The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) has partnered with Japan-based Nippon Export and Investment Insurance (NEXI), the Export Credit Agency (ECA) of Japan, through a memorandum of …
Photo Archive
28 November 02:17 PM Kuwait’s C.bank, CMA initiate campaign on crypto assets
Mubasher: The Central Bank of Kuwait (CBK) has collaborated with the Capital Markets Authority (CMA) to launch a joint financial literacy campaign on investing or dealing in crypto assets in the state, according to a press release on Sunday. …
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24 November 05:23 PM NBK launches Kuwait’s 1st digital bank Weyay
Mubasher: The National Bank of Kuwait (NBK) has launched Weyay to be the first fully digital bank in Kuwait to serve the youth in the state. Weyay aims to enhance NBK’s position in digitising banking services, according to a press release on …
GFH will purchase the shares of KHCB through a shares exchange
17 October 11:31 AM GFH announces precondition satisfaction to acquire KHCB
Dubai – Mubasher: GFH Financial Group has announced the satisfaction of preconditions and firm intention to make an offer to acquire up to 100% of the issued and paid-up ordinary shares of  Khaleeji Commercial Bank (KHCB). GFH will purchase the …
Rania El-Mashat in a meeting with Marwan Al Ghanim
27 September 05:49 PM Egypt's ongoing cooperation portfolio with KFAED amounts to $1.5bn
Cairo – Mubasher: Egypt's Minister of International Cooperation, Rania El-Mashat, met with the Director General of the Kuwait Fund for Arab Economic Development (KFAED), Marwan Al Ghanim, to explore the possible means of enhancing mutual …
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13 September 04:54 PM NBK issues $1bn Senior Unsecured notes; first of kind across CEEMEA
Mubasher: The National Bank of Kuwait (NBK) has issued bonds worth $1 billion, marking the first callable structure for senior unsecured notes, fixed to floating, across the Central and Eastern Europe Middle East and Africa (CEEMEA) region. Final …
ITFC approved for its member countries more than $58 billion since 2008
8 September 05:45 PM ITFC supports members with $605m under COVID-19 Response Program
Mubasher: The International Islamic Trade Finance Corporation (ITFC) has provided the member countries with $605 million as financial support under its COVID-19 Response Program, CEO of ITFC, Hani Sonbol, announced. The corporation aimed to help …
The company requested the license as part of its objective to launch digital initiatives
24 August 12:58 PM Agility requests license to establish digital bank in Kuwait
Mubasher: Agility Public Warehousing has requested a license to establish the first digital bank in Kuwait, the company announced to clarify some news published in this regard. The company requested the license as part of its objective to launch …
The transaction would enhance the bank's financial position
22 August 11:12 AM KIB completes sale of exposure to NMC Healthcare
Mubasher: Kuwait International Bank (KIB) has completed the sale of its exposure to NMC Healthcare Company following the fulfillment of the relevant procedures. The KWD 3.98 million transaction would enhance the bank's financial position; however, …
The report highlights several aspects of the digital readiness of GCC banks
1 August 04:40 PM GCC banks accelerate COVID-19-spurred digitalisation- Markaz
Mubasher: The banks in GCC are expanding their digital footprint to keep up with the digitalisation trend driven by the coronavirus (COVID-19) pandemic, according to a report released by Marmore MENA Intelligence, the research arm of Kuwait …
The CBK focused on employee development
27 July 05:01 PM C. bank’s FY20/21 has undoubtedly been an exceptional year – Al Hashel
Mubasher: The fiscal year (FY) 2020/2021 has undoubtedly been an exceptional year for the Central Bank of Kuwait (CBK), as the COVID-19 pandemic was a true test to the robust monetary and regulatory policies the CBK worked to implement over the …
The debt instruments carry a three-month maturity
26 July 02:38 PM CBK offers debt instruments worth SAR 200m
Mubasher: The Central Bank of Kuwait (CBK) has issued bonds and related Tawarruq at a total value of KWD 200 million, according to a press release on Monday. The debt instruments carry a three-month maturity, with a 1.125% rate of return. Last …
The loan agreement was signed on 23 November 2020
25 July 11:44 AM El-Sisi approves Kuwaiti loan for two seawater desalination plants
Cairo - Mubasher: The Egyptian President, Abdel Fattah El-Sisi, issued decree no. 77 of 2021, approving the KWD 5.5 million loan agreement between the government and the Kuwait Fund for Arab Economic Development (KFAED), the Middle East News …
The offer is subject to the approval of all necessary regulatory
8 July 02:04 PM GFH in talks with Khaleeji Commercial Bank for voluntary takeover offer
Dubai – Mubasher: GFH Financial Group is still in talks with Khaleeji Commercial Bank (KHCB) regarding a potential voluntary takeover offer for the bank's issued shares. The offer is subject to the approval of all necessary regulatory, board, and …
Majority of GCC consumers likely to opt for digital banking services
6 July 05:22 PM Majority of GCC consumers likely to opt for digital banking services
Mubasher: The majority of GCC consumers, about 85% of respondents to a survey, would currently opt for digital banking services rather than visiting a bank branch, according to a paper by Backbase with YouGov. With the appetite accelerating more …
MENA’s ESG market currently represents 1.3% of 2021's global issuance
4 July 02:35 PM Green finance in MENA reaches $6.4bn in H1, exceeds global growth rate
Mubasher: Green and sustainability-linked debt issuances in the MENA region amounted to $6.4 billion in value during the first half (H1) of 2021, exceeding the global growth rate, according to a report by Bloomberg on Sunday. The region’s green …
Diraya is managed by Kuwait Banking Association
23 June 02:23 PM CBK launches Diraya campaign for loan encashment risks
Mubasher: The Central Bank of Kuwait (CBK) has initiated Diraya (Be Aware) campaign to address the practice of loan encashment and its risks, according to a press release on Wednesday. The campaign aims to endorse financial awareness across all …
Ahmed El-Alfi, Chairman of Sawari Ventures
22 June 04:46 PM Startup Lounge: Tech offers great opportunities for success – Interview with Ahmed El-Alfi
By: Moslem Ali Cairo - Mubasher: In the second instalment of our interview with the Founder and Chairman of Sawari Ventures, Ahmed El-Alfi, we discuss the future of technology and the opportunities of startups to succeed as technological …
The GCC listed bank’s NPL ratio increased to 3.4%
22 June 03:57 PM GCC listed banks’ CAR increases to 19% in 2020 – KPMG
Mubasher: The capital adequacy ratio (CAR) of the listed banks across the Gulf area rose to 18.7% in 2020 from 18.4% in 2019, according to a KPMG report. Net profit meanwhile shrank to $25.4 billion last year, compared to $36.6 billion in 2019. …
Ahmed El-Alfi, Chairman of Sawari Ventures
21 June 01:01 PM Startup Lounge: High growth requires taking risks – Interview with Ahmed El-Alfi
By: Moslem Ali Cairo - Mubasher: Today’s guest in the Startup Lounge has played an integral role in developing the entrepreneurial scene in Egypt and the MENA region. He is one of the startup ecosystem leaders and investors who brought real …
The Tier 1 Capital Certificates has attracted over $ 1.7 billion in orders
17 June 12:37 PM Kuwait's Ahli United Bank lists $600m Sukuk on Nasdaq Dubai
UAE - Mubasher: Nasdaq Dubai has welcomed the listing of a $600 million Sukuk by Ahli United Bank (AUB), a Kuwaiti financial institution. The Tier 1 Capital Certificates has attracted over $ 1.7 billion in orders, according to a press release on …
SAMA has claimed the Global Impact Award 2021 for Aber
16 June 03:21 PM SAMA says Aber project achieves main objectives
Riyadh – Mubasher: The Saudi Central Bank (SAMA) said the digital currency project Aber has succeeded to achieve its main objectives that mainly include understanding, experiencing, and analysing the maturity of the distributed ledger technology …
This agreement does not have a present impact on the bank's financial position
31 May 09:37 AM KIB signs agreement to sell $74m exposure to NMC Healthcare
Mubasher: Kuwait International Bank (KIB) has inked an agreement to sell its $74.11 million (KWD 22.74 million) exposure to NMC Healthcare in exchange for $13.25 million (KWD 3.98 million). KIB has granted this exposure to NMC Healthcare in the …
Central Bank of Egypt - (Photo Archive)
11 April 01:47 PM CBE to introduce instant payment module, soft POS in 2021 - Deputy Governor
By: Marina Gamil Cairo – Mubasher: The Central Bank of Egypt (CBE) will this year launch a full-fledged instant payment module, after finalising regulations, and introduce a soft point of sale (POS) system that allows the use of mobile phones as …
The aggregate net profit of the GCC listed banks plunged by 32.2% YoY
1 April 01:48 PM GCC banking sector's profits record seven-year low in 2020
Mubasher: The net profits of the GCC banking sector hit their lowest levels in seven years, affected by the decline of profits in the fourth quarter (Q4) by almost a third on a quarterly basis to $5.3 billion due to higher provisions, according …