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 …
Mubasher: Saudi and Emirati banks had the most entries in Forbes Middle East’s Top 50 Banks in The Middle East list for 2021 with 10 financial institutions each. Qatar National Bank topped the region’s listed banks with profits of $3.3 billion and …
Riyadh – Mubasher: Watani Iron Steel Company has fully repaid a short-term loan worth SAR 40 million from Saudi British Bank (SABB)- Alawwal Bank, according to a bourse filing on Tuesday. Repaying the credit facility will contribute to reducing …
Riyadh – Mubasher: Al Moammar Information Systems Company (MIS) has renewed a Sharia-compliant banking facility agreement with Banque Saudi Fransi on Sunday, according to a bourse filing to Tadawul. MIS will receive a loan worth SAR 332.45 million …
Riyadh – Mubasher: Alinma Bank announced that investors can subscribe to the additional Tier 1 SAR-denominated Sukuk offering as of 10 June and until 8 July, according to a disclosure to Tadawul on Thursday. The bank said the minimum subscription …
Riyadh – Mubasher: The Saudi Company for Hardware (SACO) has raised the value of the credit facilities obtained from the Saudi British Bank (SABB) to SAR 412.95 million. Based on the contract signed between the two parties in 2019, SACO has raised …
Riyadh – Mubasher: Alinma Bank plans to issue SAR-denominated additional Tier 1 Sukuk. The bank will later announce the number and value of the Sukuk issue, according to a bourse filing on Wednesday. Alinma Bank aims to strengthen its capital base …
Riyadh – Mubasher: Arab National Bank (ANB) has renewed its partnership agreement with Microsoft Arabia to boost the bank's digital transformation and technical development process, according to a press release. The cooperation deal aims to mainly …
Riyadh – Mubasher: Zahrat Al Waha Trading Company has repaid the long-term loan of SAR 11.02 million it earlier secured from Alinma Bank, according to a bourse disclosure on Tuesday. The company had obtained the credit facility to finance capital …
Riyadh – Mubasher: Filling and Packing Materials Manufacturing Company (FIPCO) has renewed a Shariah-compliant banking facility agreement with Riyad Bank to obtain SAR 73.68 million. The financing duration is from 25 March 2021 until 25 March …
Cairo – Mubasher: The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group (IsDB), has partnered with the United Nations Industrial Development Organization (UNIDO) to support two initiatives in …
Riyadh – Mubasher: The Saudi Minister of Municipal, Rural Affairs, and Housing, Majid bin Abdullah Al Hogail, witnessed the signing of a Murabaha funding agreement worth SAR 2 billion between National Housing Company (NHC) and Bank Albilad, the …
Riyadh – Mubasher: The banks operating in Saudi Arabia have raised their total investments in government bonds by 8.27% to SAR 447.271 billion in April 2021, compared to SAR 413.11 billion in the same month of 2020. On a monthly basis, the Saudi …
Riyadh – Mubasher: Ataa Educational Company has signed a Shariah-compliant Murabaha financing agreement worth SAR 125 million with the Saudi Investment Bank (SAIB). The financing agreement aims to reschedule a number of existing loans with some …
Riyadh – Mubasher: The Saudi National Bank (SNB) expects the merger between NCB Capital Company (NCB Capital) and Samba Capital and Investment Management Company (Samba Capital) to take effect by the third quarter (Q3) of 2021. “Both NCB Capital …
Riyadh – Mubasher: Walaa Cooperative Insurance Company has signed a contract worth SAR 27 million with the Arab National Bank to provide insurance coverage on the auto leasing financing programme. The contract duration is one year starting 1 June …
Riyadh – Mubasher: Middle East Paper Company (MEPCO) has renewed a Shariah-compliant banking facility agreement with the Saudi National Bank to obtain loans worth SAR 140 million in total. MEPCO has reduced the value of the credit facilities from …
Riyadh- Mubasher: The Saudi Fund for Development (SFD) has penned an agreement with the National Bank of Iraq (NBI) to provide credit facilities worth $10 million to Iraqi investors willing to import Saudi products. The five-year deal offers a …
Riyadh – Mubasher: Alinma Tokio Marine Company has renewed its contract with Alinma Bank at a total value of SAR 4.39 million, according to a bourse filing on Thursday. The one-year agreement is a banker’s blanket bond providing insurance coverage …
Riyadh – Mubasher: United Company for Financial Services, a fully owned subsidiary of United Electronics Company (eXtra), has obtained a license from the Saudi Central Bank (SAMA) to begin credit card finance activity. eXtra said the financial …
Riyadh – Mubasher: Saudi British Bank’s (SABB) subsidiary HSBC Saudi Arabia entered into a SAR 766.49 million sale and purchase agreement with Alawwal Invest Company, in which SABB owns 100% stake. Alawwal will buy the business lines of asset …
Riyadh – Mubasher: Food delivery company Jahez has appointed HSBC Saudi Arabia, the local unit of HSBC Holdings, as the sole financial advisor and global coordinator for its potential initial public offering (IPO) on Nomu-Parallel Market Capped …
Riyadh – Mubasher: Middle East Paper Company (MEPCO) has extended a banking facilities agreement worth SAR 225.9 million with Riyad Bank, according to a bourse filing on Monday. The medium-term facilities total SAR 134.6 million and are valid for …
Riyadh – Mubasher: The shareholders of Banque Saudi Fransi approved the board’s recommendation to distribute SAR 0.4 per share as a cash dividend for 2020, according to a bourse filing on Thursday. The bank will pay a total of SAR 479.98 million …
Riyadh – Mubasher: The shareholders of the Saudi National Bank gave the green light for distributing cash dividends worth SAR 3.58 billion for 2020, according to a disclosure on Sunday. The bank will pay SAR 0.8 per share to the entitled …
