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30 September 12:33 AM

Banking

The agreement’s financiers include Al Rajhi Bank and Arab National Bank (ANB).
29 September 09:30 AM Zain KSA signs deal to reschedule SAR 3.85bn Murabaha facility
Riyadh – Mubasher: Mobile Telecommunication Company Saudi Arabia (Zain KSA) signed an agreement to reschedule its existing five-year syndicated Murabaha facility valued at SAR 3.85 billion maturing on 30 September 2020 (originally SAR 5.9 billion, …
Banking and Finance
The bank signed a SWAP agreement worth BHD 46.4m with GFH
24 September 02:16 PM Khaleeji Commercial Bank's OGM nods to agreements with GFH
Mubasher: The ordinary general meeting (OGM) of Khaleeji Commercial Bank has approved the agreements signed with GFH Financial Group, according to the bank's disclosure to Bahrain Bourse on Thursday. The bank signed a SWAP agreement worth BHD 46.4 …
Banking and Finance
The offer values AUB Egypt at EGP 29.78 per share
21 September 06:12 PM Egypt's FRA approves AUB Egypt acquisition offer
Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved the purchase offer submitted by Ahli United Bank – Bahrain (AUB Bahrain) and Misr Strategia Investment (MSI) to acquire Ahli United Bank - Egypt (AUB Egypt). AUB Bahrain …
Corporate Actions
The company will pay KWD 6m as a settlement for the entire value of the loan
17 September 09:40 AM IFA agrees on settling KWD 25m loan
Mubasher: International Financial Advisors (IFA) has reached an agreement with a bank to settle a loan valued at KWD 24.98 million ($81.9 million), excluding the interest rate due on 30 May 2019. The company, listed on Boursa Kuwait and the Dubai …
Banking and Finance
Photo Archive
15 September 02:04 PM Egypt's FRA studies offer to acquire AUB Egypt
Cairo – Mubasher: Egypt’s Financial Regulatory Authority (FRA) said an optional purchase offer draft was submitted by Ahli United Bank – Bahrain (AUB Bahrain) and an Egyptian investment firm to invest on the shares of Ahli United Bank - Egypt (AUB …
Corporate Actions
The loan is guaranteed by a promissory note
14 September 10:33 AM MIS extends, amends SAR 84.6m loan with NBK
Riyadh – Mubasher: Al Moammar Information Systems (MIS) Company has amended and extended a Sharia-compliant credit facility agreement with the National Bank of Kuwait (NBK) to finance projects and issue letters of guarantee. The loan is valued at …
Companies Investments
The USD registered EGP 15.72 for buying at NBE and ALEXBANK
10 September 03:10 PM EGP rises against USD to highest level since mid-May
Cairo – Mubasher: The Egyptian pound exchange rate rose against the US dollar at local banks on Thursday, hitting its highest level since mid-May. The US dollar registered EGP 15.72 for buying and EGP 15.92 for selling, according to data by the …
Macroeconomics
Assets rose by 5.3% to EGP 37.6 billion
2 September 01:59 PM ABK Egypt logs EGP 354m profit in H1-20
Cairo – Mubasher: Al Ahli Bank of Kuwait - Egypt (ABK - Egypt) reported a 54% year-on-year (YoY) increase in its net profits, logging EGP 354 million in the first half (H1) of 2020, the Middle East News Agency (MENA) reported on Wednesday. The …
Financial Results
The acquisition is subject to the approvals of shareholders
26 August 03:50 PM Bank of Bahrain and Kuwait considers acquiring Ithmaar Bank
Mubasher: The Bahrain-based Ithmaar Holding, listed on the Dubai Financial Market (DFM), Boursa Kuwait, and Bahrain Bourse, has held initial talks about the plan of Bank of Bahrain and Kuwait (BBK) to acquire its wholly-owned subsidiary, Ithmaar …
Mergers and Acquisitions
Minister of International Cooperation, Rania El-Mashat
26 August 02:19 PM Egypt's parliament greenlights $743m housing, sanitation funding deals
Cairo – Mubasher: The Egyptian Minister of International Cooperation, Rania El-Mashat, announced that the parliament approved two international agreements by the ministry with the International Bank for Reconstruction and Development (IBRD) and …
International Agreements
The USD registered EGP 15.85 for buying at AAIB and EG Bank
24 August 04:26 PM EGP rises against USD to highest level since May
Cairo – Mubasher: The Egyptian pound exchange rate continued to increase against the US dollar at local banks on Monday, hitting its highest level in more than 12 weeks. The USD exchange rate declined to EGP 15.83 for buying and EGP 15.93 for …
Currencies
Minister of International Cooperation, Rania El-Mashat
24 August 12:46 PM Egypt's parliament greenlights $53m deals to combat COVID-19
Cairo – Mubasher: The Egyptian Minister of International Cooperation, Rania El-Mashat, said that the House of Representatives has approved two international cooperation agreements with the International Bank for Reconstruction and Development …
Banking and Finance
For an enterprise system stability is more important than functionality
16 August 12:42 PM How a startup application can be a modern enterprise system?
By: Marina Awadallah Cairo - Mubasher: As the world is rapidly moving into digital transformation, scaling businesses from startups to an enterprise that facilitates the exchange of data is necessary for their growth and their operations’ …
Global Economy
How the pandemic changed the e-payments outlook in MENA?
12 August 07:27 PM The future of e-payment solutions after COVID-19
By: Moslem Ali Cairo – Mubasher: “Stay Home” is a global call that spread across the world over the past months, signalling not only a new public policy and a health precaution against an infectious disease but a turning point in how markets …
Sector Reports
The profits plunged by 96.1% annually in Q2
10 August 11:55 AM CBK’s profits shrink 88% in H1-20
Mubasher: The Commercial Bank of Kuwait (CBK) generated KWD 1.196 million ($3.92 million) worth of net profits in the first half (H1) of 2020, down by 87.8% when compared to KWD 9.809 million ($32.17 million) in the corresponding period in the …
Banking and Finance
The Sukuk aims to reinforce the bank's capital
5 August 03:50 PM Khaleeji Commercial Bank finalises $159m Sukuk issuance
Dubai - Mubasher: Khaleeji Commercial Bank has closed $159 million Sukuk issuance fully covered by GFH Financial Group as the sole subscriber, according to a press release on Wednesday. Issued following the approval of regulatory authorities and …
Sukuk and Islamic Finance
The transaction will significantly strengthen the lender’s financial position
3 August 09:31 AM Khaleeji Commercial Bank issues $159m Sukuk
Dubai - Mubasher: Khaleeji Commercial Bank has successfully issued Sukuk worth $159 million, subject to approvals from regulatory authorities and the extraordinary general meeting (EGM). Shareholders supported the bank to issue Additional Tier 1 …
Sukuk and Islamic Finance
The USD declined to EGP 15.09 for purchasing at AAIB
13 July 02:08 PM EGP rises against USD at local banks on Monday
Cairo – Mubasher: The US dollar exchange rate slid against the Egyptian pound at seven local banks on Monday. The greenback fell to EGP 15.89 for buying and EGP 15.99 for selling at Commercial International Bank (CIB) and Suez Canal Bank. …
Banking and Finance
GCC banks' interest income is expected to decline this year
6 July 11:57 AM GCC banks to witness lower profits in 2020 amid COVID-19
Mubasher: The profits of banks in GCC countries will decrease in 2020 due to the economic contraction amid the coronavirus (COVID-19) pandemic and lower oil prices, Moody's Investors Service said in a report on Monday. Moody's referred that …
Ratings
The Sukuk programme is valued at a maximum KWD 2 billion
2 July 01:01 PM KIB obtains central bank’s initial approval for Sukuk issuance
Mubasher: Kuwait International Bank (KIB) has received preliminary approval from the Central Bank of Kuwait (CBK) on 30 June for a Sukuk issuance programme. The value of the issuance is up to KWD 2 billion, or the equivalent in other currencies. …
Banking and Finance
Moody's has affirmed the bank's long-term deposit rating at 'A3'
1 July 12:22 PM Moody's affirms Boubyan Bank's credit ratings; outlook stable
Mubasher: Moody's Investors Service has maintained all the credit ratings of Boubyan Bank, with a 'Stable' outlook, according to the bank's disclosure to Boursa Kuwait on Wednesday. The credit rating agency has affirmed the bank's long-term …
Ratings
The greenback slid to EGP 16.08 for buying at ALEXBANK and Suez Canal Bank
30 June 04:01 PM USD falls against EGP at local banks on Tuesday
Cairo – Mubasher: The US dollar exchange rate against the Egyptian pound fell by about EGP 0.02 at local banks on Tuesday. The greenback slid to EGP 16.08 for buying and EGP 16.18 for selling at ALEXBANK and Suez Canal Bank. Meanwhile, the USD …
Banking and Finance
Photo Archive
29 June 01:13 PM Kamco extends credit facility agreement
Mubasher: Kamco Invest announced that it has renewed a credit facility provided by a local bank, according to a statement to Boursa Kuwait on Monday. Under the new agreement, the bank credit facility limit has been increased by KWD 5 million. The …
Companies Investments
Mansour Group, from Egypt, came in first place
28 June 03:24 PM Top 100 Arab family businesses include 36 Saudi firms - Forbes
Mubasher: Saudi Arabia has dominated this year’s Forbes Middle East Top 100 Arab Family Businesses, which are seen as the backbone of the region's economy. Saudi Arabia came in the lead with 36 family businesses, followed by the UAE with 21 …
Macroeconomics
Careem will benefit from Visa's real-time push payment solution
28 June 01:45 PM Careem partners with Visa to promote cashless payments
UAE - Mubasher: Careem and Visa have inked a partnership agreement to boost cashless payments and digital financial inclusion across the Middle East and North Africa region, according to a press release on Sunday. Under the partnership, Visa …
Banking and Finance