BankMuscat announced an exciting summer “holiday” promotion prize draw at its second monthly media briefing yesterday. Now, two new additional banking products are ready for customers — an easy way to facilitate its customers who intend to travel for

Bank Dhofar, Oman’s third-largest bank by market value, said it has an exposure of $10 million to Saudi Arabia’s troubled Algosaibi Group. The exposure relates to a $700 million syndicated loan extended to Algosaibi in May 2007, the bank said in a

Qatar National Bank - Syria, a private Syrian-Qatari bank, announced today the launch of 34.0% of its total equity in an Initial Public Offering (IPO) which opens to subscribers on 12 July 2009, with the subscription ending on August 10th 2009. QNB

Emirates Industrial Bank, or EIB, which is merging with Abu Dhabi-based Real Estate Bank, said on Monday its private shareholders agreed to sell their 49 per cent stake to the UAE government. EIB is already 51 per cent owned by the UAE Ministry of

Dubai Islamic Banks (DIB) decision to offer property mortgages of up to 90 per cent of value may add more risk to its real estate portfolio, analysts said. DIB this month announced 90 per cent loan-to-value (LTV) financing for properties across the UAE.

Emirates NBD PJSC, the United Arab Emirates’ biggest bank by assets, raised 4 billion dirhams by issuing Tier 1 securities to the Investment Corp. of Dubai, boosting its Tier 1 capital adequacy ratio to above 11 percent. The securities will pay a fixed

Emirates NBD PJSC aims to double the contribution to profit from its consumer banking unit as the United Arab Emirates’ biggest bank adds new credit cards and targets small companies amid the global financial crisis. “The rationale for growing the retail

Saudi lender Riyad Bank plans to provide up to 1.4 billion riyals ($373 million) in financing for buyers into a property project partly led by Egypts Talaat Moustafa Group. The bank signed an agreement on Sunday with Saudi-based property developer Thabat

Bank Muscat has announced that its subsidiary, Muscat Securities House Company (MSH), has won approval from Saudis Capital Market Authority to commence operations. MSH will cover areas including dealing as principal and underwriting agent, managing

National Bank of Kuwait, the countrys biggest bank by assets, does not have any exposure to Saudi Arabias troubled groups Saad and Al Gosaibi, two newspapers said on Monday. An official at NBK denied having a relation with both Saad and Al Gosaibi

Kuwait Investment Authority (KIA) is selling its stake in Boubyan Bank in an auction on July 22 with a minimum price of 550 fils a share ($1.90), the Kuwait bourse said in a statement on Sunday. KIA will sell a 19.8 percent stake in the Kuwaiti lender,

BankMuscat announced that its subsidiary, Muscat Securities House Company (MSH), has won approval from the Capital Market Authority in Saudi Arabia to commence operations. MSH’s business operations will cover the following areas: dealing as principal and

The region’s leading bank in terms of assets, Emirates NBD and Al Tayer Motors, jointly hosted a private event for select Priority Banking clients interested in the Range Rover and Jaguar brands. The social gathering was held at Al Tayer Motors’ showroom