December 14th, 2018 | 0 commentsEgyptian President Abdel Fattah El-Sisi has approved two loans worth EUR 150 million from the African Development Bank Group (AFDB). El-Sisi also issued the presidential decree number 178 for 2018, approving a $100 million loan from the AFDB for the development of Abu Rawash wastewater treatment plant, the official Gazette reported on Thu...
December 13th, 2018 | 0 commentsDubai Aerospace Enterprise (DAE) on Wednesday announced that it has inked a new four-year unsecured revolving credit facility with Emirates NBD as sole mandated lead arranger and bookrunner. The initial commitment of $535 million is from a group of eight regional lenders, Investment Corporation of Dubai's (ICD) unit said in a statement. T...
December 13th, 2018 | 0 commentsAmwal International Investment announced that its board members will discuss expansion plans in the UAE during its meeting on Wednesday, 12 December. Amwal plans to enlarge its business in the UAE through agreements with Shuaa Capital and Noor Capital Markets, the Boursa Kuwait-listed company disclosed on Wednesday. Furthermore, Amwal’s b...
December 13th, 2018 | 0 commentsThe Malaysian Industrial Development Finance (MIDF) is in talks with Al Rajhi Bank’s subsidiary in Malaysia, over a potential merger, informed sources said. If completed, the consolidation will create a new international bank offering Islamic sharia-compliant services, sources told Bloomberg News. “The potential merger would expand the sc...
December 13th, 2018 | 0 commentsThe International Islamic Trade Finance Corporation (ITFC) is looking to invest $3 billion into Egypt in 2019. These financings will be pumped into the wheat and oil sectors at a value of $1.5 billion for each, the CEO of the ITFC told Mubasher. The corporation has signed five agreements with the Arab world's most populous country since 2...
December 12th, 2018 | 0 commentsGoldilocks Investment Company has acquired a 29.49% stake in Takaful Al Emarat Insurance Company. Takaful Al Emarat is listed on the Dubai Financial Market (DFM), while Goldilocks is a fund launched by Abu Dhabi Financial Group (ADFG) in 2015. This is the second deal for Goldilocks Investment in the insurance sector, in which the funds ex...
December 12th, 2018 | 0 commentsThe Central Bank of the UAE (CBUAE) has commissioned lenders operating in the GCC nation to run credit checks with Al Etihad Credit Bureau (AECB) issuing them with cheque books. The move is aimed at improving responsible lending practices by banks, according to the central bank’s circular to financial institutions. For new customers, bank...
December 12th, 2018 | 0 commentsPalm Hills Development Co’s board of directors has approved to raise the credit facility for its project “The Crown”. The facility, provided by the National Bank of Egypt (NBE) and other lenders, will be raised to EGP 1.24 billion from EGP 852 million, the Cairo-based real estate firm said in a filing to the Egyptian Exchange (EGX) on Tue...
December 12th, 2018 | 0 commentsQalaa Holdings on Tuesday announced that its extraordinary general meeting (EGM) has approved to introduce the reward and motivation system. The EGM endorsed a sample of the contract to be signed with those who will benefit from the system, the Cairo-based investment firm said in a filing to the Egyptian Exchange (EGX). During the general...
December 11th, 2018 | 0 commentsThe participation of Boubyan Bank in funding Duqm Refinery in Oman confirms the bank’s ability to finance projects in both government and private sectors in addition to infrastructure projects inside and outside Kuwait, deputy CEO of Boubyan Bank Abdulsalam Al Saleh said in a press release. Boubyan Bank is expected to allocate $200 millio...
