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21 July 04:28 PM

Banking

The strategic alliance will offer their clients access to a wider and more flexible network
3 hours ago ADIB, Al Baraka Banking ink MoU for network expansion
Abu Dhabi - Mubasher: Abu Dhabi Islamic Bank (ADIB), a leading financial institution in the UAE, and the Bahrain-based Islamic multinational banking group Al Baraka Banking Group on Sunday announced the signing of a memorandum of understanding …
Companies Investments
The bank will pay cash dividends worth SAR 300 million for H1-19
11:16 AM Bank Albilad to distribute 4% dividends for H1
Riyadh – Mubasher: Bank Albilad’s board of directors has approved distributing 4% cash dividends to shareholders for the first half of 2019. The bank will pay a total of  SAR 300 million, or SAR 0.4 per share, for the six-month period ended in …
Cash Dividends
This move comes after the bank obtained SAMA's approval to open 20 branches in KSA
11:13 AM UAE’s Emirates NBD eyes expansion in Saudi Arabia
Dubai – Mubasher: Emirates NBD, a UAE-based leading banking group, announced it is looking to expand its footprint in Saudi Arabia. This major move comes after the bank obtained the Saudi Arabian Monetary Authority’s (SAMA) approval to open 20 …
Dividends will be distributed on 1 August
10:55 AM Al Rajhi Bank to pay 15% dividends for H1
Riyadh – Mubasher: The board of directors of Al Rajhi Bank decided to distribute 15% cash dividends to the shareholders for the first half of 2019, during the meeting held on Thursday, 18 June.   The Saudi lender will pay a total of SAR 3.7 …
Board of Directors
Farm Superstores also renewed its SAR 200 million facility with Al Rajhi Bank
18 July 05:56 PM Farm Superstores renews SAR 130m loan with Alinma Bank
Riyadh – Mubasher: Saudi Marketing Co (Farm Superstores) announced renewing its sharia-compliant facility agreement with Alinma Bank. The SAR 130 million loan deal has been extended to 30 April 2020, the company said in a statement to the Saudi …
Banking and Finance
he US treasury securities value rose by 5.2% year-on-year in May 2019
17 July 04:56 PM Saudi Arabia’s holdings of US treasuries up 10% in May
By: El-Sayed Gamal Riyadh- Mubasher: Saudi Arabia registered a 10.36% year-on-year rise in the US treasury bonds during May 2019, raising its stake of the US treasuries for the fourth month in a row. Saudi Arabia’s holdings of the US treasury …
Sector Reports
The UAE came in the 22nd place among holders of the US sovereign debts
17 July 01:47 PM UAE cuts holdings of US Treasury bonds in May
By: Mahmoud Gamal UAE – Mubasher: The UAE has reduced its holdings of US Treasury bonds by 4.5% month-on-month, or $2.5 billion, in May to $53.2 billion from $55.7 billion, data by the US Department of the Treasury showed. The GCC state’s …
Banking and Finance
The USD fell to EGP 16.58 for buying at ADIB
14 July 04:13 PM USD falls against EGP on Sunday
By: Islam Fadl Cairo – Mubasher: The US dollar exchange rate declined against the Egyptian pound during late trades on Sunday at some local banks.   The USD dropped by EGP 0.01 to EGP 16.56 for buying and EGP 16.66 for selling at Banque Misr, …
Banking and Finance
The loan will be used to finance operating capital
14 July 10:46 AM Tihama inks SAR 3m Murabaha deal with Adeem Capital’s unit
Riyadh – Mubasher: Tihama Advertising and Public Relations signed a Sharia-compliant loan at a value of SAR 3 million a subsidiary of Adeem Capital. The two-year Murabaha is guaranteed through a promissory note, according to a bourse filing on …
Companies Investments
The USD has stabilised at EGP 16.55 for buying at CIB
11 July 10:54 AM USD stabilises against EGP early Thursday
Cairo – Mubasher: The US dollar exchange rate against the Egyptian pound has settled earlier on Thursday at some local banks.      The USD has remained unchanged at EGP 16.57 for buying and EGP 16.67 for selling at National Bank of Egypt (NBE), …
Banking and Finance
The CBK’s total assets grew 2.25% in May
10 July 05:09 PM Kuwaiti C. Bank’s int’l assets hit $37bn in May
Mubasher: Foreign net assets of the Central Bank of Kuwait (CBK) increased by 1.44% year-on-year to KWD 11.25 billion ($37.06 billion) in May, the CBK’s data showed. On a monthly basis, the CBK’s foreign assets rose 0.54% from KWD 11.19 billion in …
Macroeconomics
The three deals were signed with EFG Hermes Leasing, Global Lease, and UI Finance
10 July 01:13 PM Egypt, Saudi Arabia ink EGP 125m financial leasing deals
Cairo – Mubasher: Egypt’s minister of investment and international cooperation Sahar Nasr has signed three financing agreements at a combined value of EGP 125 million with the Saudi Grant Committee affiliated to the Saudi Fund for Development …
Banking and Finance
The USD has been steady at EGP 16.58 for buying at ADIB
10 July 11:32 AM USD trades steady against EGP early Wednesday
Cairo – Mubasher: The US dollar exchange rate against the Egyptian pound has stabilised earlier on Wednesday at some local banks.     The USD has settled at EGP 16.57 for buying and EGP 16.67 for selling at National Bank of Egypt (NBE), Banque …
Currencies
The USD has settled at EGP 16.55 for buying at CIB
8 July 11:06 AM USD trades steady against EGP early Monday
Cairo – Mubasher: The US dollar exchange rate against the Egyptian pound has stabilised earlier on Monday at some local banks.       The USD has settled at EGP 16.58 for buying and EGP 16.68 for selling at National Bank of Egypt (NBE), Banque …
Currencies
Total deposits amounted to SAR 1.669 trillion by the end of May
7 July 05:30 PM Saudi Arabia’s bank deposits jump 4.8% in May – SAMA
Riyadh – Mubasher: Deposits at banks operating in Saudi Arabia increased by 4.76% year-on-year or SAR 75.85 billion in May. Total deposits amounted to SAR 1.669 trillion by the end of May, from SAR 1.593 trillion in the same month a year earlier, …
Banking and Finance
Abdulaziz Bin Abdulla Al Zamil was appointed as the new chairman
7 July 02:56 PM Alinma Bank appoints new chairman, vice chairman
Riyadh – Mubasher: The ordinary general assembly meeting of Alinma Bank has elected a new board of directors for the three-year term ending 20 May 2022. The assembly has named Abdulaziz Bin Abdulla Al Zamil as the board’s new chairman, according …
Banking and Finance
The USD has been steady at CIB at EGP 16.55 for buying
7 July 10:58 AM USD stabilises against EGP early Sunday
Cairo – Mubasher: The US dollar exchange rate against the Egyptian pound has settled earlier on Sunday at some local banks.     The USD has remained unchanged at EGP 16.58 for buying and EGP 16.68 for selling at National Bank of Egypt (NBE), …
Currencies
The Saudi-based lender will pay the dividends on 24 July.
7 July 09:59 AM Riyadh Bank to pay SAR 1.6m dividends for H1
Riyadh – Mubasher: The board of directors of Riyadh Bank approved distributing cash dividends worth SAR 1.56 million to shareholders for the first half of 2019. The bank will pay a cash dividend of SAR 0.52 a share after deduction of zakat, …
Cash Dividends
The banks included People's Bank of China
6 July 05:37 PM Samba inks USD loan deal with Asian banks
Riyadh – Mubasher: Saudi Arabia’s Samba Financial Group has reached a USD-dominated credit facility agreement with a group of Asian banks. The banks included Mizuho Bank, Korea Development Bank (KDB), and People's Bank of China, according to a …
Banking and Finance
Seera signed a long-term financing agreement with SAIB
4 July 05:45 PM Seera Holding annuls REIT agreement; inks pact with SAIB
Riyadh – Mubasher: Seera Holding Group, formerly known as Al Tayyar Travel Group Holding Co, on Thursday announced the annulment of the agreement on the creation of a real estate investment trust (REIT) for the development of middle-income hotels. …
Real estate
The lender will pay the dividends on 7 November.
4 July 04:39 PM Arab National Bank to pay 5% dividends for H1
Riyadh – Mubasher: The Arab National Bank’s (ANB) board of directors recommended to pay cash dividends worth SAR 750 million to shareholders for the first half of 2019. The bank will pay 5% of the share’s nominal value as a cash dividend, or SAR …
Board of Directors
The USD has settled at EGP 16.6 for buying at NBE
4 July 12:54 PM USD trades steady against EGP early Thursday
Cairo – Mubasher: The US dollar exchange rate against the Egyptian pound has stabilised earlier on Thursday at some local banks.       The USD has settled at National Bank of Egypt (NBE), Banque Misr, Bank Audi, Misr Iran Development Bank, and …
Macroeconomics
The project’s first phase comprises the development of 300 hotel units
4 July 11:48 AM KEC, Riyadh Capital ink deal to manage real estate fund
Riyadh – Mubasher: Knowledge Economic City (KEC) has signed a preliminary deal with Riyadh Capital to manage a real estate investment trust (REIT). The planned REIT will develop the Madinah Gate project, close to Haramain High-Speed rail station …
Companies Investments
ADF ratified financing agricultural loans amounting to SAR 1.15 billion
3 July 05:05 PM Saudi ADF approves 1st foreign investment loan
Riyadh – Mubasher: The environment, water, and agriculture minister of Saudi Arabia, Abdulrahman Al Fadley, who is the chairman of the Saudi Agricultural Development Fund (ADF), presided over the second meeting for the board during the current …
Banking and Finance
The bank will pay a cash dividend of SAR 1 a share
3 July 04:52 PM Banque Saudi Fransi to pay SAR 1m dividends for H1
Riyadh – Mubasher: The board of directors of Banque Saudi Fransi (BSF) has proposed distributing cash dividends worth SAR 1.199 million to shareholders for the first half of 2019. The bank will pay a cash dividend of SAR 1 a share after the …
Banking and Finance