Please wait...
GulfBase Live Support
- CBB 12 Month Treasury Bills Issue 134 oversubscribed by 151%
- Bahrain All Share Index, Islamic Index close lower
- Gulf Bank supports the 'Diraya' campaign through Kuwait TV
- Asian markets track Wall St down with Nvidia, US jobs in view
- CBO announces approved fee structure for national payment card "Maal"
- Oman-Japan energy ties: Driving economic diversification and green transformation
- S&P 500 eyes longest losing run since August on AI, crypto fears
- Ithmaar Bank appoints new Head of Corporate Banking
- Ooredoo launches 'Ooredoo Office' to support business connectivity in Qatar
- QIB wins 3 digital innovation awards from The Asset Triple A Islamic Finance Awards
02/01/2018 06:04 AST
Sharjah Islamic Bank (SIB) has successfully completed the issuance of Dh266.8 million worth of sukuk convertible into equity of the bank to the Sharjah Social Security Fund (SSSF). The move came in line with the Year of Giving (2017).
The announcement was made by Abdul Rahman Al Owais, Chairman of the Board of Directors of SIB, who stressed that the bank was proud of its management and that the Ruler of Sharjah had considered SIB as a safe investment for the SSSF.
The shareholders of SIB approved the issuance of Sukuk convertible into 10 per cent of the ordinary share capital by the bank in March. As per the scheme, His Highness Shaikh Dr Sultan Bin Mohammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, nominated an entity engaged in endowment activities to subscribe to sukuk equal to 10 per cent of SIB's capital and converting it into equity for the bank at a nominal value of Dh1 each per share which will be non-tradable.
The bank sought approvals from the Securities & Commodities Authority and the Central Bank of UAE for this scheme, which were successfully sanctioned.
Al Owais added that by virtue of this exercise, SIB's shared capital has increased from Dh2.67 billion to Dh2.93 billion, and the SSSF now owns 9.09 per cent of the share capital.
"We expect that our capitalisation ratios, will be strengthened by around 100 bps with the issuance of this capital," Al Owais said.
Gulf News
27/10/2025
Sharjah Islamic Bank (SIB) announced the successful sale of all its treasury shares, amounting to 167.67 million shares, representing 5.18 percent of the Bank's total share capital.
The sale
Khaleej Times
08/10/2025
Sharjah Islamic Bank (SIB) on Tuesday reported a robust financial performance for the first nine months of 2025, with net profit after tax soaring to Dh1.1 billion - a 24 per cent increase compared t
Khaleej Times
16/07/2025
Sharjah Islamic Bank (SIB) achieved a net profit after tax of Dh697.2 million in the first half of 2025 compared to Dh558.7 million in the first half of 2024, an increase of 25 per cent, helped by a
Khaleej Times
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| IHC | 399.50 | -0.10 (-0.03 |
| FAB | 17.06 | 0.04 (0.23 |
| EMIRATESNBD | 25.60 | -0.60 (-2.30 |
| INVESTB | 0.45 | 0.00 (0.00 |
| ADCB | 13.70 | -0.10 (-0.73 |
19/11/2025
As part of its continued support for the "Diraya" campaign, Gulf Bank participated in the Layali Al-Kuwait program on Kuwait TV, represented by Executive Manager of the Marketing Department, Mahdi Su
Kuwait Times
19/11/2025
Ithmaar Bank, a Bahrain-based Islamic retail bank, has appointed Amr Alshaher as Head of Corporate Banking, reporting to Assistant General Manager, Business Group, Mohammed Ali Safar.
The a
Trade Arabia
19/11/2025
Ooredoo has announced the launch of 'Office', a new solution designed to meet the communication and connectivity needs of startups, small offices, and growing businesses in Qatar. Ooredoo Office is a
Gulf Times
19/11/2025
Qatar Islamic Bank (QIB) has been recognised with three prestigious awards at The Asset Triple A Islamic Finance Awards 2025.
The bank was awarded 'Best Islamic Bank for Digital Innovation',
Gulf Times
19/11/2025
Qatar Fuel Company (WOQOD) announced that the Board of Directors has issued a resolution approving the recommendations of the Nominations Committee to open the nomination process for the election of
The Peninsula
Financial Information Co.
Saudi Arabia