June 17th, 2019 | 0 commentsMamoura Diversified Global Holding, formerly known as Mubadala Development Company, and General Investments FZE sold a total of 463.26 million shares in Emirates Integrated Telecommunications Company (DU) to the Emirates Investment Authority (EIA). The shares represent approximately 10.22% of Du’s issued share capital, according to Du’s s...
June 17th, 2019 | 0 commentsTamweely Microfinance’s board of directors approved raising the company’s capital by 50% to EGP 75 million from EGP 50 million. The capital hike aims to finance the company’s expansion plans in 2019 and implement the operation strategy adopted by the company since August 2018, the company said in a statement on Sunday.Tamweely Microfinanc...
June 14th, 2019 | 0 commentsGhabbour Auto (GB Auto) announced that its subsidiary GB Leasing has issued its second securitisation bonds valued at EGP 767 million. Egypt's largest car assembler and distributor will use proceeds from the transaction to slash its debt, strengthen its financial position, and create new credit limits with banks to support future growth p...
June 14th, 2019 | 0 commentsThe extraordinary general meeting (EGM) of Commercial International Bank (CIB) has approved increasing the lender’s authorised capital by EGP 30 billion. The Egyptian bank’s capital will be raised to EGP 50 billion from EGP 20 billion, according to a statement to the Egyptian Exchange (EGX) on Thursday. During the first quarter of 2019, C...
June 14th, 2019 | 0 commentsCI Capital Holding announced that its board of directors recommended raising the company’s issued and paid-up capital to EGP 800 million from EGP 544.18 million. The Cairo-based diversified financial services group's board proposed raising the company’s capital by EGP 255.81 million distributed over 255.81 million shares at a nominal valu...
June 14th, 2019 | 0 commentsEgypt’s Ministry of Finance (MoF) has unveiled a group of measures aimed at promoting the electronic payment of government services’ fees, customs, and taxes. The new measures enable Egyptian citizens to pay fees of government services through a variety of bank cards with no ceiling in terms of amounts, according to a circulation publishe...
June 13th, 2019 | 0 commentsZahrat Al Waha for Trading Company has renewed a sharia-compliant credit facility with Alinma Bank worth SAR 67.4 million. The agreement extends from 10 June until 30 June 2020, according to the company’s statement to the Saudi Stock Exchange (Tadawul) on Tuesday. The loan, secured against a promissory note, will be used to finance the pu...
June 13th, 2019 | 0 commentsAlawwal Bank announced that its merger with the Saudi British Bank (SABB) will be effective immediately after the end of the creditor objection period. If no creditor objects to the proposed tie-up until 15 June, the merger will take effect, Alawwal Bank said in a statement to the Saudi Stock Exchange (Tadawul) on Wednesday. In May, share...
June 13th, 2019 | 0 commentsThe Tadawul-listed Taiba Investments Co will distribute 4.5% of the capital as cash dividends for the first quarter of 2019. Taiba will pay SAR 0.45 per share on 30 June as cash dividends to the entitled shareholders of record date 16 June. The dividends will be transferred to the investment accounts of the shareholders’ portfolios throug...
June 13th, 2019 | 0 commentsAbu Dhabi Islamic Bank (ADIB), the largest sharia-compliant lender in Abu Dhabi, announced on Wednesday the launch of “Express Finance”, a new service developed by the bank’s Digital Lab as part of its digital transformation strategy. Express Finance provides instant access to personal for ADIB’s approved customers to receive funds in les...
