Bank Muscat’s 12th CD auction oversubscribed
(Oman Daily Observer
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31/03/2010)
BankMuscat had successfully closed its twelfth Certificate of Deposit Auction issue on March 24. The issue was oversubscribed to the extent of RO 33.70 million against the issue size of RO 15 million. BankMuscat has received overwhelming response — the
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BankDhofar announces 15% cash dividend
(Times of Oman
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31/03/2010)
BankDhofar held its annual general meeting of shareholders at the Grand Hyatt Hotel, where the Board of Directors announced cash dividends of 15 per cent to its shareholders, amounting to RO11.09 million and a bonus share issue of 10 per cent,
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Sheikh Ahmed Suhail Bahwan deputy chairman of NBO board
(Times of Oman
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31/03/2010)
The board of directors of National Bank of Oman (NBO) SAOG at its meeting held on Sunday, at Grand Hyatt Muscat, appointed Sheikh Ahmed Suhail Bahwan as deputy chairman of the board, subsequent to his election as board member at the shareholders annual
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BKME operating as Ahli United Islamic bank as of Thursday - CBK
(KUNA
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31/03/2010)
The Bank formerly known as Bank of Kuwait and the Middle East (BKME) was crossed out from the local conventional banks list and is to start its Sharia-compliant operations as of Thursday listed as "Ahli United Bank," said the Central Bank of Kuwait
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HSBC, ADCB Support Dubai Debt Plan
(Agencies
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31/03/2010)
HSBC, one of the largest creditors to Dubai World, put its weight behind a debt restructuring plan put forward by the state-owned conglomerate, saying it expected positive results soon. “We do welcome it, it is a good way forward. I think it is a
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UNB plans to double share capital
(Reuters
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31/03/2010)
Abu Dhabi listed Union National Bank plans to more than double its share capital base to 5 billion dirhams ($1.36 billion) over the next five years, its chief executive said on Wednesday. The bank's paid-up capital as at Dec. 31, 2009 stood at 2.1
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NBAD chief to address investors forum
(Trade Arabia
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31/03/2010)
Nasser Ahmed Al Suwaidi, the chairman of Abu Dhabi Department of Economic Development and National Bank of Abu Dhabi, will be a keynote speaker at the upcoming 'Latin America Mid-East Investors Forum (LA-MEIF).' Co-hosted by LatinFinance and the Gulf
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Mashreq Al Islami appoints Yusra Abdul Gaffar as Manager
(Al Bawaba
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31/03/2010)
Mashreq Al Islami, the Islamic banking arm of Mashreq, has appointed UAE National, Yusra Abdul Gaffar as Manager for Mashreq Gold. Launched in March 2010, Mashreq Al Islami was established with the aim of offering a full suite of Sharia’h compliant
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Emirates NBD sponsors school business project
(AME Info
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31/03/2010)
In line with its commitment to support the development of entrepreneurship among youth, Emirates NBD, the largest banking group in the Middle East in terms of assets, announced today its sponsorship of Dubai Modern Education School's (DMES) business
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Mashreq Achieves 41 Per Cent of Emiratisation
(Khaleej Times
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30/03/2010)
Mashreq, one of the UAE’s leading financial institutions, announced that it achieved 41 per cent of Emiratisation across all its units in the bank. Participating at the 10th annual Careers Show Exhibition, Mashreq forecasts huge success for this year’s
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DIB Signs Dh790m Financing Deal with Kuwaiti Firm
(Khaleej Times
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30/03/2010)
Dubai Islamic Bank, or DIB, announced on Monday a financing deal worth Dh790 million for Kharafi National, a Kuwait-based construction group with operations across the Middle East and Africa. Under the agreement, DIB will cover the financing requirements
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Emirates NBD and Mashreq eye RBS retail units
(Business 24|7
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30/03/2010)
Emirates NBD, the largest bank in the country, and Mashreq are said to be eyeing the UAE retail operations of Royal Bank of Scotland (RBS), according to informed sources. Talking to Emirates Business on the sidelines of the annual general meeting of
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Emirates NBD Interested in RBS’ U.A.E. Retail Assets, CFO Says
(Bloomberg
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30/03/2010)
Emirates NBD PJSC, the United Arab Emirates biggest lender by assets, is considering plans to buy the retail banking assets of Royal Bank of Scotland Group Plc in the country, Chief Financial Officer Sanjay Uppal said. RBS branches, its automated teller
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Emirates Islamic Bank takes part at the 10th annual Careers UAE Fair
(Press Release
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30/03/2010)
In line with its commitment to achieve higher Emiratization rates, Emirates Islamic Bank (EIB), one of the leading Islamic financial institutions in the UAE participated in the 10th annual Careers Show which was held from 28th to 30th March 2010 at the
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Dubai Islamic Bank expects to achieve 45% Emiratisation by end of 2010
(AME Info
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30/03/2010)
In a move to support its 2010 expansion strategy to further strengthen its presence, Dubai Islamic Bank (DIB) announced today that it is aiming to achieve 45% Emiratisation by December 2010. The announcement was made at the 10th Annual Dubai Career Fair,
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KFH launches SMS banking
(Gulf Daily News
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30/03/2010)
Kuwait Finance House - Bahrain (KFH-Bahrain) is adding SMS banking to its service channels. This easy to use free service updates on all activities regarding their transactions with the bank via their mobile phones anytime and anywhere in the world.
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NBK launches a new financial literacy program in Kuwait
(AME Info
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30/03/2010)
In parallel with its multiple community serving initiatives, National Bank of Kuwait (NBK), the leading bank in Kuwait and the highest rated in the Middle East, in cooperation with VISA, had recently launched a first-of-its-kind financial literacy
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Burgan Bank holds IT networking session
(AME Info
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30/03/2010)
Burgan Bank, amongst the leading and the most dynamic regional commercial banks in the state of Kuwait, sponsored on Sunday March 28, 2010 an ISACA networking event for IT professionals in the banking and as well as other industries. The event, which was
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QIB opens doors to Islamic banking products in France
(Gulf Times
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30/03/2010)
A Qatar Islamic Bank-led joint venture will become the trendsetter for selling Shariah-based retail banking products in France, the bank’s chief executive officer Salah Mohamed al-Jaidah has said. For the first time, about 4mn Muslims living in France
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BSF sets pricing on notes
(Saudi Gazette
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30/03/2010)
Banque Saudi Fransi announced the pricing of the inaugural issue of notes under its EMTN program in the amount of $650 million. The 5-year notes, which mature in 2015, were priced at 99.543, implying a spread of 175 bps over mid swaps. The notes pay an
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Stable outlook for BSF's $2bn note
(Trade Arabia
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30/03/2010)
Moody's Investors Service has assigned stable outlook for the $2.0 billion euro medium-term note programme (EMTN) of Banque Saudi Fransi (BSF). Senior unsecured and subordinated notes issued under this programme would be rated at Aa3 and A1,
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Doha Bank's ratings affirmed
(AME Info
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29/03/2010)
Capital Intelligence (CI), the international credit rating agency, today announced that it has affirmed Doha Bank's (DB) long-term Foreign Currency rating of 'A', its short-term Foreign Currency rating of 'A2' and its Financial Strength rating of 'A'.
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NBO shareholders clear dividend payout
(Times of Oman
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29/03/2010)
The shareholders of National Bank of Oman approved the board of directors recommendation for a dividend payout to shareholders of 12 per cent of capital as cash dividend at the 36th Annual General Meeting held yesterday at the Grand Hyatt Muscat. The
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BankMuscat, China lender ink deal
(Times of Oman
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29/03/2010)
Tapping into the huge investment and trade flows between China, Oman and the GCC, banking conglomerates BankMuscat and Bank of China have signed an agreement to establish a ‘China Desk’ in the region at BankMuscat. The desk has been named as the ‘Bank of
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Sharia role for Bahraini Saudi
(Gulf Daily News
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29/03/2010)
Bahraini Saudi Bank yesterday rebranded itself as Bahraini Saudi as part of its transition to a fully Sharia-compliant Islamic bank. The move comes as a result of Al Salam Bank acquiring 90.31 per cent of its equity last year in a two-for-one share swap
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