Banking

The fund may receive about $5 billion credit facilities
12 July 01:21 PM Saudi PIF may secure 1st multi-billion-dollar loan
Riyadh – Mubasher: Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), is negotiating a multi-billion-dollar-loan with a group of banks. The loan would be its first ever. The Saudi fund is looking to form a group of banks to …
Al Khodari Sons renewed an Islamic facilities agreement with Riyad Bank worth SAR 231.377 million
12 July 09:57 AM Al Khodari Sons renews SAR 231m Islamic loan
Riyadh – Mubasher: Abdullah Abdul Mohsen Al Khodari Sons Company on Thursday said it has renewed an existing Islamic facilities agreement with Riyad Bank at a value of SAR 231.377 million ($61.7 million). The loan aims to provide bonding …
This service in conjunction with the travel season
4 July 03:01 PM KFH launches Int'l Toll Free Service in 6 states worldwide
Mubasher: Kuwait Finance House (KFH) has offered “International Toll Free Service” to its customers in six countries outside Kuwait without any additional fees. KFH’s new services will be offered to the customers in the US, the UK, Canada, France, …
The deal extends from the signing date until 30 June 2021
2 July 10:37 AM Saudi SAIC secures SAR 50m Islamic facility from SAIB
Riyadh – Mubasher: The Saudi Advanced Industries Co (SAIC) has signed a SAR 50 million sharia-compliant credit facility with The Saudi Investment Bank (SAIB). The deal, signed on Sunday, 1 July, extends from the signing date until 30 June 2021, …
Abo Moati renews SAR 40m Islamic loan with NCB
28 June 07:19 PM Abo Moati renews SAR 40m Islamic loan with NCB
Riyadh – Mubasher: Abdullah Saad Abo Moati for Bookstores on Thursday announced the renewal of an Islamic banking facility with the National Commercial Bank (NCB) for SAR 40 million. The renewal of the facilities was approved on June 28, Abo Moati …
Moody's assigns Counterparty Risk Ratings to 46 GCC banks
27 June 07:07 PM Moody's assigns Counterparty Risk Ratings to 46 GCC banks
Mubasher: Moody's Investors Service has assigned Counterparty Risk Ratings (CRR) to 46 banks across Bahrain, Kuwait, Oman, Qatar, and the UAE. The CRR measures the banks' ability to embrace the "uncollateralised" portion of non-debt counterparty …
The contract will extend from 16 May 2018, until 28 February 2019
26 June 11:49 AM Zahrat Al Waha renews SAR 25m credit facility with Alawwal Bank
Riyadh – Mubasher: Saudi Arabia-based Zahrat Al Waha for Trading Company has announced extending a credit facility agreement with Alawwal Bank at a value of SAR 25 million. The contract will extend from 16 May 2018, until 28 February 2019, …
SAIB will repurchase J.P. Morgan International Finance's stake in the bank
24 June 11:21 AM SAIB rebuys JP Morgan’s stake for SAR 759m
Riyadh – Mubasher: The Saudi Investment Bank (SAIB) on Sunday announced signing an agreement to repurchase J.P. Morgan International Finance Limited’s full stake of 56.2 million shares in the bank. The total value of the transaction amounted to …
Sahara Petrochemicals gets SAR 450m loan
10 June 10:36 AM Sahara Petrochemicals gets SAR 450m loan
Riyadh – Mubasher: Sahara Petrochemicals on Sunday announced signing an agreement for an SAR 450 million ($120 million) loan with Alrajhi Bank. The one-year facility, which extends from 7 June 2018 until 7 June 2019, will be used to finance …
The facility will be allocated to repay the Murbaha deal which was signed on 4 September 2014
7 June 11:49 AM Fawaz Abdulaziz Alhokair obtains SAR 1.25bn Murabaha facility
Riyadh – Mubasher: Saudi Arabia-based Fawaz Abdulaziz Al Hokair Company has signed a seven-year agreement with some domestic and regional banks to obtain a Murabaha loan at a value of SAR 1.25 billion ($333 million). The facility will be allocated …
Saudi Al Akaria has signed an SAR 650 million loan with Riyad Bank
3 June 08:25 AM Saudi Al Akaria inks SAR 650m loan with Riyad Bank
Riyadh – Mubasher: Saudi Real Estate (Al Akaria) on Sunday announced signing an Islamic long-term loan with Riyad Bank worth SAR 650 million. The deal, signed on Thursday, 31 May, will extend for a duration of seven years, effective on the day the …
Musharaka REIT Fund secures SAR 400m facility from Al Rajhi Bank
31 May 11:57 AM Musharaka REIT Fund secures SAR 400m facility from Al Rajhi Bank
Riyadh – Mubasher: Musharaka REIT Fund has announced signing an agreement with Al Rajhi Bank to obtain an SAR 400 million loan with +1.85% SIBOR cost for six months. The seven-year facility will be compliant with the Islamic sharia, according to a …
Al Hammadi unit inked an SAR 125 million loan with Samba
28 May 05:29 PM Al Hammadi unit inks SAR 125m loan with Samba
Riyadh – Mubasher: Al Hammadi Company for Development and Investment on Monday announced that one of its subsidiaries has signed an Islamic Financing Facilities Agreement with Samba Financial Group. Pharma Serve, which signed the deal, is a …
NCB has appointed Al Ghamdi as board chairman
20 May 09:03 AM NCB names Al Ghamdi as board chairman
Riyadh – Mubasher: The National Commercial Bank (NCB) on Sunday announced the appointment of a new chairman and vice chairman, as well as the formation of the board’s subcommittees. The Saudi bank named Saeed Mohammed Al Ghamdi as board chairman …
The agreement extends from Wednesday 16 May 2018 to 28 February 2019
16 May 02:23 PM Zahret Al Waha renews SAR 144m facility with ANB
Riyadh – Mubasher: Zahret Al Waha for Trading Company on Wednesday unveiled that the company renewed a SAR 144.13 million sharia-compliant credit facility with Arab National Bank (ANB). The agreement extends from Wednesday 16 May 2018 until 28 …
Bank AlJazira's profits rose 13.56% in Q1-18
9 May 05:26 PM Higher operating income boosts Bank AlJazira profits 13.6% in Q1
Riyadh – Mubasher: Bank AlJazira on Wednesday reported positive results for the first quarter of 2018 on the back of higher operating income. The bank logged SAR 245.3 million ($65.40 million) in profits for the first three months of the year, a …
The Shariah-compliant facility will mature after 3 yrs
9 May 12:19 PM Jadwa REIT Al Haramain Fund obtains SAR 200m loan from Riyad Bank
Riyadh – Mubasher: Saudi Arabia-based Jadwa Investment said that Jadwa REIT Al Haramain Fund has obtained a SAR 200 million loan from Riyad Bank. The Shariah-compliant facility will mature after three years, according to a statement to the Saudi …
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8 May 05:35 PM FIBCO renews financing deal with Riyadh Bank
Riyadh - Mubasher: Filing and Packing Materials Manufacturing Company (FIPCO) announced that it has renewed a sharia-compliant banking facilitation agreement with Riyad Bank. The agreement has modified credit limits to SAR 72 million, consisting …
Jabal Omar CEO Yasser Al-Sharif and SHUAA Capital chairman Jassim Alseddiqi
8 May 01:10 PM UAE’s SHUAA Capital inks property management MoU with Jabal Omar Development
Dubai – Mubasher: SHUAA Capital on Tuesday announced signing a memorandum of understanding (MoU) with Saudi-based Jabal Omar Development Company through which the two companies aim to launch and manage real estate investment vehicles in Saudi …
SABB profits were unchanged in Q1-18
7 May 06:06 PM SABB posts SAR 1.039bn profits in Q1
Riyadh – Mubasher: The Saudi British Bank (SABB) on Monday reported near-stable profits for the first quarter of 2018 from a year ago. SABB logged SAR 1.039 billion ($ million) in profits between January and March, up 0.29% from SAR 1.036 billion …
Al Khodari renewed an SAR 75.9 million loan with Al Bilad Bank
7 May 05:47 PM Al Khodari renews SAR 75.9m loan with Al Bilad Bank
Riyadh – Mubasher: Abdullah A. M. Al-Khodari Sons Company on Monday announced renewing an Islamic loan with Al Bilad Bank worth SAR 75.908 million. The facility will expire on 30 December 2022, the Saudi firm said. “The purpose of these facilities …
SAIB's profits grew to SAR 361 million in Q1-18
6 May 09:17 AM SAIB profits rise to SAR 361m in Q1
Riyadh – Mubasher: The Saudi Investment Bank (SAIB) on Sunday posted a year-on-year increase in net profits for the first three months of 2018, citing higher operating income and net special commission income. Profits grew 4.73% to SAR 361.2 …
SPIMACO Egypt’s capital will rise to EGP 200 million from EGP 66.88 million
3 May 12:21 PM Saudi SPIMACO nods to Egypt unit capital hike
Riyadh – Mubasher: Saudi Pharmaceutical Industries and Medical Appliances Corp’s (SPIMACO) on Thursday said that the board of directors had approved increasing SPIMACO Egypt's capital by 199% during the meeting held the previous day. SPIMACO …
Al Khodari renewed a credit agreement worth SAR 330 million
18 April 07:39 PM Al Khodari renews SAR 330m facility
Riyadh – Mubasher: Abdullah A. M. Al-Khodari Sons Company on Wednesday announced the renewal of an SAR 330 million Islamic credit deal with Alawwal Bank. “The purpose of these credit facilities is to provide bonding commitments and fund capital …
Lending growth is forecast to be in the low single digits
11 April 10:37 AM Bank lending to Saudi private sector to hike in 2018 – SABB
Riyadh – Mubasher: Bank lending to Saudi Arabia's private sector is expected to grow this year, backed by a rise in oil prices and an increase in government expenses, Saudi British Bank's (SABB) managing director, David Dew, has said. Lending …