NBK says no decision on capital hike
(Reuters
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10/01/2010)
National Bank of Kuwait, the countrys largest, is considering raising its capital but has yet to make a decision, the lender said on Sunday. NBKs statement on the Kuwaiti bourse website came after local daily Al-Watan said in an unsourced report that the
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Dubai Islamic Bank opens branch in Al Nahda
(AME Info
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10/01/2010)
Dubai Islamic Bank (DIB) today announced the opening of a new branch in Al Nahda, Dubai, bringing the banks UAE network to a total of 62 branches, including three Express Banking locations. The expansion of the banks network is in line with its retail
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Middle East equity capital markets plummet 80.61% to $6.89b in 2009
(Saudi Gazette
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09/01/2010)
The Middle East investment banking industry recorded dreary results last year with dramatic declines in fees and deal activity. In the fourth quarter 2009 review of the Middle East investment banking industry by Thomson Reuters, it said the Middle East
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Ajman Bank appoints new CEO
(Trade Arabia
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09/01/2010)
Ajman Bank, the Emirate’s first Islamic commercial bank, has appointed Mubashar H Khokhar as its new CEO. Khokhar started his career at Bank of America and has served in senior executive roles in the banking industry for the past twenty-six years. His
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Sharjah Islamic Bank’s New Headquarters Inaugurated
(Khaleej Times
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07/01/2010)
The new headquarters of the Sharjah Islamic Bank (SIB) was officially opened on Wednesday by His Highness Dr Shaikh Sultan bin Mohammed Al Qassimi, Member of the Supreme Council and Ruler of Sharjah, who praised the development of the Islamic banking
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KFH plans expansion in US, Canada
(CPIFINANCIAL
-
07/01/2010)
Kuwait’s largest Islamic lender is planning to launch a real estate fund for Canada, according to chairman Bader Abdul Muhsen Al-Mukhaizeem. Kuwait Finance House (KFH) has revealed plans to expand into the US and Canada in 2010. Speaking at the opening
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Kuwait Finance to Set Up $250 Million Fund to Invest in Canada
(Bloomberg
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06/01/2010)
Kuwait Finance House KSC, the country’s biggest Islamic bank, plans to set up a $250 million fund to invest in Canada, Chairman Bader Abdulmuhsen Al Mukhaizeem told Al-Arabiya TV channel.
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BankMuscat scales greater heights in CSR
(Oman Daily Observer
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06/01/2010)
Taking forward Corporate Social Responsibility (CSR) to new arenas, BankMuscat, the Sultanate’s leading financial services provider, announced a business incubator initiative with the potential to create jobs, revitalise neighbourhoods and strengthen
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New ABC role for Kawan
(Gulf Daily News
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05/01/2010)
Bahrain-based Arab Banking Corporation (ABC) has appointed Dr Khaled S Kawan as the deputy chief executive of the group. In his new position, the wholesale banking, universal banking and group operations of ABC will report to Dr Kawan. ABC is hopeful
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Samba Financial Group Appoints Eisa Al-Eisa as Chairman of Board
(Bloomberg
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05/01/2010)
Samba Financial Group, the second- largest bank in Saudi Arabia, appointed Eisa Al-Eisa as chairman of the board for a three-year period from Jan. 1. Sajjad Razvi was appointed managing director, the Riyadh- based bank said in a statement on the Saudi
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Mashreq Assist eases re-payment worries for over 2800 UAE residents
(AME Info
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05/01/2010)
To-date, over 2800 Mashreq customers have received support from Mashreq's unique debt counseling service, Mashreq Assist. Set up in September last year, Mashreq Assist was established to help individuals and SME clients facing repayment challenges to
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First Gulf Bank to buy back 10pc share
(Reuters
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04/01/2010)
Abu Dhabis First Gulf Bank obtained the approval of the UAE markets regulator for an extention on plans to buy back 10 per cent of its shares, a statement on the Abu Dhabi bourse website said on Sunday. The bank requested an extention of one year. The
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UAE bank extends share buyback, another denies investment
(Reuters
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04/01/2010)
Abu Dhabis First Gulf Bank obtained the approval of the United Arab Emirates (UAE) markets regulator for an extension on plans to buy back 10 percent of its shares, a statement on the Abu Dhabi bourse website said on Sunday. The bank requested an
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Saudi Hollandi Bank Closes Sukuk
(Khaleej Times
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04/01/2010)
Saudi Hollandi Bank, or SHB, has successfully closed its first public listed Sukuk of SR725 million. This issue follows the private placement completed at the end of 2008, further cementing SHB’s position as the only bank in the Middle East to raise
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Burgan Bank partners with Lush cosmetics
(AME Info
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04/01/2010)
Burgan Bank, amongst the leading and most dynamic commercial banks in the state of Kuwait, has entered into an exciting new partnership with Lush cosmetics offering its Premier Banking Customers exclusive offers and discounts. This partnership is one of
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BankMuscat Offers Loan to ORPC
(Khaleej Times
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04/01/2010)
BankMuscat has signed a RO77 million term loan facility with Oman Refineries and Petrochemicals Company, or ORPC, to partly refinance its working capital needs. The dual currency facility, which will be available either in Omani riyal or US dollar, has a
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BankMuscat extends RO 77 million term loan facility to ORPC
(Oman Daily Observer
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03/01/2010)
BankMuscat, the leading financial services provider in the Sultanate, recently signed a RO 77 million ($200 million) term loan facility with Oman Refineries & Petrochemicals Company (ORPC) to partly refinance its working capital needs. The dual currency
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KFH and That Al-Salasil launch promotion campaign at duty free shops
(AME Info
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03/01/2010)
Kuwait Finance House (KFH) and That Al-Salasil store launched a promotion campaign that ends at the end of January, where the offer allows clients who use KFH credit and prepaid cards in most duty free shops at the airport to make purchases that exceed
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Moody's confirms Commercial Bank's financial strength rating as C-
(AME Info
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03/01/2010)
Moodys Investors Services has confirmed the bank financial strength rating (BFSR) of Commercial Bank of Kuwait as C-. Despite the challenging operating environment, the Bank continues to be the second most highly rated bank in Kuwait. Moodys has further
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Qatar National Bank the Official Bank of Qatar ExxonMobil Open 2010
(AME Info
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03/01/2010)
Qatar National Bank (QNB) and the Qatar Tennis Federation (QTF) signed a sponsorship agreement confirming QNB as the Official Bank of the Qatar ExxonMobil Open Tennis Championships which is being held in Doha from 4-9 January 2010 at the Khalifa
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Ajman Bank Names Mubasher Hanif Khokhar as CEO Effective Today
(Bloomberg
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03/01/2010)
Ajman Bank PJSC, the United Arab Emirates-based Islamic bank, appointed Mubasher Hanif Khokhar chief executive officer effective today, the bank said in a statement to the Dubai bourse today.
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Dubai Islamic Bank launches Al Islami Takaful Riayati
(AME Info
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02/01/2010)
Dubai Islamic Bank (DIB) announced today the launch of Al Islami Takaful Riayati, a comprehensive accidental death and disability insurance plan offered at a very affordable annual premium. This innovative Sharia-compliant product is underwritten by
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Emirates NBD to support Fazza Championships
(AME Info
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02/01/2010)
In yet another initiative to support sports, culture and traditions of the UAE, Emirates NBD, one of the Middle Easts largest banks by asset size, announced today its sponsorship of the highly anticipated Fazza Championships for the year 2010. The
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Al Ahli Bank Sells 5% Stake to Qatar Investment Authority
(Bloomberg
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02/01/2010)
Al Ahli Bank QSC, a Qatari lender, said it received funds from the country’s sovereign wealth fund to bolster its capital. The funds will increase the Qatar Investment Authority’s stake in the bank by 5 percent, Al Ahli said in a release on the Qatar
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Qatar Islamic Bank Sells 5% Stake to Qatar Fund for $263 Mln
(Bloomberg
-
02/01/2010)
Qatar Islamic Bank SAQ, the country’s biggest Islamic lender, sold a five percent stake to Qatar Investment Authority, the Persian Gulf country’s sovereign wealth, as part of a plan to boost bank capital. Qatar Investment Authority paid 956 million
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