August 20th, 2018 | 0 commentsThe Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 16.25 billion on Sunday on behalf of the Ministry of Finance (MOF). The first tranche will be offered through 91-day notes at EGP 8.25 billion, while the second offering will be through 273-day notes worth EGP 8 billion, the CBE said via its official website. Th...
August 20th, 2018 | 0 commentsThe Central Bank of Egypt (CBE) on Sunday said it would issue treasury bonds (T-bonds) worth EGP 1.5 billion in coordination with the Ministry of Finance (MOF). The issuance is carried out on Sunday as markets and banks will be closed for a three-day Eid Al Adha holiday starting Monday, 20 August until Wednesday, 22 August. The first tran...
August 17th, 2018 | 0 commentsThe UAE money supply aggregate (M1) grew 0.2% month-on-month to AED 496.4 billion during July, the central bank announced. Also, M2 and M3 aggregates increased by 0.2% each last month, recording AED 1.302 trillion and AED 1.556 trillion, respectively. “The increase in M1 was mainly due to an increase of AED3 billion in monetary deposits,...
August 17th, 2018 | 0 commentsSaudi Arabia raised its holdings of US debt instruments by 16.1% year-on-year in June 2018. The kingdom’s holdings of US government bonds amounted to $164.9 billion by the end of June, up from $142 billion in the same month a year earlier, according to the US Department of the Treasury’s data showed on Thursday. On a monthly basis, Saudi...
August 17th, 2018 | 0 commentsBahrain Islamic Bank (BisB) has recently signed an agreement with Kingdom Properties Real Estate to provide property financing for potential residents of the Janayin Al Hamala Project in Bahrain. This will enable Bahraini nationals working in the kingdom to pay the down payment starting from only five per cent for the units that will be s...
August 17th, 2018 | 0 commentsMorocco’s Attijariwafa Bank Group has bought Kuwait’s Path Solutions’ “iMAL” Islamic banking software to run Bank Assafa, the group’s Islamic participative subsidiary. Path Solutions, which provides Sharia-based technologies for Islamic financial services, announced on August 14 it has signed a strategic agreement with Attijariwafa Bank t...
August 17th, 2018 | 0 commentsThe Central Bank of Egypt has decided on Thursday to maintain interest rates. Overnight deposit rate, overnight lending rate, and the rate of the main operation will remain unchanged at 16.75%, 17.75%, and 17.25%, respectively. The discount rate was also kept unchanged at 17.25%, according to the statement issued by the CBE after the meet...
August 16th, 2018 | 0 commentsThe four largest banks in the UAE have reported a 21% year-on-year increase in their combined profits during the second quarter of 2018, recording AED 8 billion. The rise in interest income and the decline in a group of provisions boosted the profits of First Abu Dhabi Bank (FAB), Emirates NBD, Abu Dhabi Commercial Bank (ADCB), and Dubai...
August 16th, 2018 | 0 commentsThe Central Bank of the UAE’s (CBUAE) foreign-currency assets inched up 0.3% year-on-year to AED 332.31 billion in July, compared to AED 331 billion. The central bank's balance and deposits abroad jumped 14.2% to AED 262.89 billion in July, according to the CBUAE's statistics released on Wednesday. Other foreign assets surged 135.8% to AE...
August 16th, 2018 | 0 commentsIntegrated Capital Company has sold about 102 million of its shares in GFH Financial Group to a commercial bank in the UAE. The company has taken such a step in order to secure financial facilities, according to a bourse statement. In January, the Bahrain-, Kuwait-, and Dubai-listed GFH Group stated that Integrated Capital had reduced its...
