Monday 12 April 2021

NBK Capital provides $20m financing to Reach Group

NBK Capital Partners has closed a $20 million acquisition financing facility with Reach Group, a leading UAE-based HR outsourcing company in support of its cross-border expansion. The innovative Sharia-compliant financing marks the first investment from NBK Capital Partners Shari


Saudi healthcare revenue management system to undergo major transformation

As part of Saudi Vision 2030 and the National Transformation Programme, the Ministry of Health is transforming from being an all-in-one payer, provider and regulator of health services to being predominantly a regulator, says KPMG.   KPMG’s latest report o


Investcorp to acquire RoadSafe Traffic Systems

Bahrain-based Investcorp, a global leader in alternative investment products, and Trilantic North America, a leading private equity firm, have agreed to acquire RoadSafe Traffic Systems from Orix Capital Partners. Terms of the transaction were not disclosed. Headqu


Sanad closes $55m financing deal with CBD

Sanad Capital, a wholly-owned subsidiary of Mubadala Investment Company, has closed a $55 million debt financing deal with the Commercial Bank of Dubai (CBD), one of the UAE’s leading financial institutions. The first-ever collaboration between Sanad Capital and the Commerc


Qarar partners with CredoLab

Qarar, a leading regional credit risk and decision analytics company, announces a new partnership with CredoLab, the most seamless, transparent, and accurate alternative-data credit risk scoring provider in the market today.   Lenders often face a shortage of re


Al Nuaimi appointed CEO of DNIR

Dubai National Insurance and Reinsurance (DNIR), a publicly listed company on the Dubai Financial Market (DFM), announced the appointment of Abdulla Al Nuaimi as Chief Executive Officer (CEO), effective April 11, 2021.   With more than 25 years of experience in


UAE extends date to register in anti-money laundering systems

The UAE’s Ministry of Economy (MoE) has extended the deadline granted to Designated Non-Financial Businesses and Professions (DNFBPs) to register in the systems approved for countering money laundering and combating the financing of terrorism, until April 30. The extension


Oman’s GDP to grow by 7.4% in 2022: IMF

Oman's gross domestic product (GDP) is expected to grow by 7.4% in 2022 against 1.8% in 2021, according to outlook of the International Monetary Fund (IMF). Inflation in the Sultanate is seen retreating to 2.4% in 2022 compared to 3.8% in 2021 in IMF’s report on prospec


ADIB adopts IBM hybrid cloud solutions

Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has collaborated with IBM to accelerate its transition to become a modern, digitally-led Islamic bank, using IBM hybrid cloud solutions based on Red Hat OpenShift. The transformation complements the bank&rsqu


VC investment in fintech doubles in H2 2020: KPMG

Overall global fintech funding across M&A, PE and VC was $105 billion across 2,861 deals in 2020: the third highest level of investment in fintech ever, said professional services firm KPMG in a new report. With the exception of M&A – which saw deal value drop over

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