Wednesday 25 April 2018

Al Salam Bank-Bahrain names Group CEO

Al Salam Bank-Bahrain (ASBB), one of the pioneering Shari’a-compliant banks in the Kingdom, has appointed Rafik Nayed as Group chief executive officer (CEO) of the bank following regulatory approvals. Chairman of the Board of Directors of ASBB Khaleefa Butti Bin Omair Al Mu


UBF action plan for 2018 approved at annual meet

The UAE Banks Federation (UBF) recently held its Annual General Assembly Meeting in Dubai, where the federation’s key activities and achievements in2017 as well as action plan for 2018 were reviewed and approved. AbdulAziz Al Ghurair, chairman of UAE Banks Federation, presi


Noor Bank lists $500m sukuk on Nasdaq Dubai

Nasdaq Dubai welcomed the listing today (April 24) of a $500 million sukuk by Noor Bank, a leading Sharia’a-compliant bank in the UAE. It is Noor Bank’s second Sukuk to be hosted by the region’s international exchange, following a previous $500 million listing i


Shuaa Capital completes acquisition of IS & IC

Shuaa Capital has completed its acquisition of Integrated Securities (IS) and Integrated Capital (IC), following final approval by the Emirates Securities and Commodities Authority and the Central Bank of the UAE. Shuaa’s current multi-pronged business strategy, which came


Belt and Road exchange to be set up at ADGM

Abu Dhabi Global Market (ADGM), the international financial centre of Abu Dhabi, UAE, and Shanghai Stock Exchange (SSE), China’s largest securities exchange, have entered into a memorandum of understanding (MoU) to co-operate on the establishment of a “Belt and Road” exchange


Mashreq Q1 net profit up 9.5pc to $163m

Mashreq, one of the leading financial institutions in the UAE, has posted a net profit of Dh598 million ($163 million) for the first quarter of the year, reflecting a yea-on-year increase of 9.5 per cent due to a 4 per cent increase in operating income. Net interest income and ne


GIB launches region’s first digital bank in Bahrain

Gulf International Bank (GIB) has launched the digital retail banking services of meem, the region’s first Shariah-compliant digital bank, in Bahrain. Rasheed Al Maraj, Governor of the Central Bank of Bahrain, attended the technology driven launch event as the guest of hono


Financial services holding firm Finablr set up

Noted UAE-based businessman Dr Bavaguthu Raghuram Shetty has announced the creation of “Finablr”, a new holding company which, subject to regulatory approvals, will consolidate his global portfolio of financial services brands under one single umbrella.   


Mubadala takes minority stake in US investment firm

Mubadala Investment Company (Mubadala), the Abu Dhabi-based investment company, has acquired a minority stake in the general partner of Phoenician Capital, a New York-based investment management company.   The investment was made through Mubadala Capital, Mubadala’s fin


NMC offers $450m convertible bonds

UAE-based NMC Health, a leading private healthcare operator, has launched an offering of senior, unsecured, guaranteed convertible bonds due 2025 with a principal amount of $450 million, convertible into ordinary shares of NMC Health (the Company). The bonds will be issued by NMC

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