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Banking & Insurance

The first bond issuance is expected to take place in Q1-22
15 April 01:00 PM Aramco’s oil pipeline investors to refund loans with bonds in 2022
Riyadh – Mubasher: EIG Global Energy Partners will lead a consortium to issue billions of dollars in bonds over two or three transactions to refinance loans for investment in the Saudi Arabian Oil Company’s (Saudi Aramco) oil pipeline assets, …
The sharia-compliant loan deal carries a duration of one year
12 April 05:17 PM FIPCO extends SAR 30m deal with Bank Albilad
Riyadh – Mubasher: Filing and Packing Materials Manufacturing Company (FIPCO) has renewed a credit facilities agreement worth SAR 30 million with Bank Albilad, according to a bourse filing on Monday. The sharia-compliant loan deal carries a …
The contract's duration period is one year
11 April 05:13 PM Saudi Paper to obtain SAR 50m loan
Riyadh – Mubasher: Saudi Paper Manufacturing Company received the Ministry of Finance's final approval to obtain additional credit facilities worth SAR 50 million, according to a disclosure to Tadawul on Sunday. The listed firm has signed a …
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 …
Atamayuzz Academy programmes have started
8 April 04:11 PM Aramco participates in launching Altamayyuz for Saudi graduates
ArabFinance: The Saudi Arabian Oil Company’s (Saudi Aramco) has taken part in launching Altamayyuz Finance and Accounting Excellence Academy which aims to build the capabilities of top finance and accounting graduates in Saudi Arabia. The …
Alinma Bank will disburse a total of SAR 596.12 million dividends
8 April 11:28 AM Alinma Bank’s shareholders nod to 3% dividends for 2020
Riyadh – Mubasher: The shareholders of Alinma Bank approved, during the extraordinary general meeting, distributing 3% of the capital or SAR 0.3 per share as cash dividends for 2020. The financial institution will disburse a total of SAR 596.12 …
The renewal duration is one year starting 7 April 2021
8 April 11:15 AM Abo Moati renews SAR 45m loan agreement
Riyadh – Mubasher: Abdullah Saad Abo Moati for Bookstores Company extended a credit facilities agreement worth SAR 45 million with Samba Bank, according to a disclosure to Tadawul on Thursday. The renewal duration is one year starting 7 April 2021 …
The funding deal is part of the initial financial support of $1 billion for Canal Sugar's project
8 April 10:20 AM SFD signs $50m financing deal with Egypt's Canal Sugar
‎Riyadh – Mubasher: The Saudi Fund for Development (SFD) inked an export financing agreement with Egypt-based Canal Sugar Company at a total value of $50 million, according to a statement. The funding deal is part of the initial financial support …
Banque Misr had been reportedly in negotiations with SAMA over the license
7 April 11:07 AM Saudi cabinet permits Banque Misr to open branch
Riyadh – Mubasher: The Saudi Council of Ministers approved on 6 April the license of Egypt’s state-run Banque Misr to inaugurate an office in the Kingdom, the Saudi Press Agency reported. Banque Misr had been reportedly in negotiations with the …
The total value of IsDB Sukuk on Nasdaq Dubai reached $17.14 billion
5 April 01:33 PM IsDB lists $2.5bn sustainability Sukuk on Nasdaq Dubai
UAE - Mubasher: Nasdaq Dubai has welcomed the listing of five-year sustainability Sukuk worth $2.5 billion by Islamic Development Bank (IsDB), which supports development across its 57 member countries. Priced at par with a profit rate of …
The acquisition is the largest office transaction in Northern Ireland
4 April 01:56 PM ADIB grants Albilad Capital financing to acquire PWC headquarters in Northern Ireland
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) has granted Albilad Capital, a wholly-owned investment arm of Saudi Arabia's Bank Albilad, structured Islamic financing to support the company's GBP 87 million acquisition of the PWC headquarters …
The dividends represent 8% of the bank's capital
4 April 11:22 AM Saudi National Bank's board proposes SAR 3.58bn dividends for 2020
Riyadh – Mubasher: Saudi National Bank, the newly-formed entity resulting from the merger between National Commercial Bank (NCB) and Samba Financial Group, announced that the board of directors recommended a cash dividend of SAR 0.80 after …
National Commercial Bank (NCB) to be renamed The Saudi National Bank
1 April 03:09 PM NCB, Samba to complete merger with no creditor objections
Riyadh – Mubasher: The National Commercial Bank (NCB) and Samba Financial Group have announced the expiry of the creditor objection period with no outstanding unsatisfied creditor objections for their planned merger. Through the merger, Samba …
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 …
Bank Albilad has started offering a domestic SAR-denominated Tier 2 Sukuk
1 April 10:53 AM Bank Albilad commences SAR-denominated Tier 2 Sukuk offer
Riyadh – Mubasher: Bank Albilad has started offering a domestic SAR-denominated Tier 2 Sukuk for up to SAR 3 billion by the way of private placement in Saudi Arabia. For the holders of the previously issued SAR 2 billion Sukuk due in 2026, the …
The Saudi foreign reserve assets retreated by 1.96% MoM in February 2021
29 March 11:44 AM Saudi Arabia's foreign reserve assets hit SAR 1.655 trn in February 2021
Riyadh – Mubasher: Saudi Arabia's foreign reserve assets declined by 11.26% to SAR 1.655 trillion ($441 billion) in February 2021 from SAR 1.865 trillion ($497 billion) in the same month of 2020, recording the lowest level in over 10 years. On a …
The loan includes a SAR 300 million facility to finance working capital
28 March 01:11 PM Yamama Cement obtains SAR 863m loan from Al Rajhi Bank
Riyadh – Mubasher: Yamama Cement Company has signed a Sharia-compliant financing agreement with Al Rajhi Bank with a total value of SAR 863 million, including a SAR 563 million long-term facility and SAR 300 million in short-term financing. The …
Photo Archive
25 March 03:39 PM Bank Albilad to issue SAR 3bn Tier 2 Sukuk
Riyadh – Mubasher: Bank Albilad plans to issue a domestic Saudi Riyal (SAR) denominated Tier 2 Sukuk valued at up to SAR 3 billion through a private placement in the local market. The potential offer may include an option for holders of the …
Number and value of Sukuk will be determined based on market conditions - (Photo Archive)
24 March 01:11 PM Arabian Centres plans to issue USD-denominated Shariah-compliant Sukuk
Riyadh - Mubasher: Arabian Centres Company (ACC) plans to issue US Dollar (USD) denominated Shariah-compliant Sukuk to achieve the company’s financial and strategic objectives.  The number and value of the Sukuk will be determined based on market …
Photo Archive
24 March 12:33 PM Riyad Bank’s OGM approves 5% dividend for 2020
Riyadh – Mubasher: The ordinary general meeting (OGM) of Riyad Bank has approved distributing cash dividends, equivalent to 5% of the capital, for 2020.  The cash dividends stand at 50 halalas per share, aggregating at a total amount of SAR 1.5 …
REIF achieved an initial closing at a total value of SAR 2.8 billion
22 March 12:43 PM Jadwa Investment launches real estate investment fund
Riyadh – Mubasher: Jadwa Investment announced on Monday the launch of its Real Estate Investment Fund (REIF) in partnership with Tatweer Holding Group, Riyad Bank and Bank Albilad. “The objective of the fund is to provide investors with a stable …
HSBC has been enabled to borrow Saudi Arabian equities from the asset owner
18 March 04:44 PM HSBC completes Saudi Arabia's first Securities Lending transaction
Riyadh - Mubasher: HSBC has completed the first Securities Lending transaction in Saudi Arabia, which is in line with Saudi Vision 2030, aiming to place the country among the top ten financial markets globally. As a custodian and agent lender on …
Photo Archive
15 March 11:23 AM Arab Sea gets initial approval for e-payments subsidiary
Riyadh – Mubasher: Arab Sea Information System Company has obtained an initial approval for its plan to establish an electronic payments (e-payments) company, the company disclosed to the Saudi Stock Exchange (Tadawul) on Monday. The statement …
SABB will also strengthen its partnership with HSBC
14 March 10:43 AM SABB completes merger with Alawwal Bank
Riyadh – Mubasher: Saudi British Bank (SABB) has completed its merger with Alawwal Bank to combine all products and services provided to customers. Through the integration, SABB will support economic growth across different fields in  Saudi …
Individuals can start with a monthly investment of EGP 500 through Du Invest
9 March 03:57 PM Mubasher's Du seeks to turn novice investors into professional traders
Cairo – Mubasher: Mubasher Financial Services, one of the five largest non-banking financial institutions in Egypt, has invested about EGP 360 million in launching its new Du brand for financial services, the first of its kind in Egypt that caters …