Saturday 19 September 2020

SEC issues $1.3bn international green sukuk

Saudi Electricity Company (SEC), the largest utility company in Mena, has completed a dual tranches RegS international Green Sukuk issuance, with five and 10 year tenors, in amounts of $650 million for each tranche. The launch of the Green Sukuk Issuance was announced on Septembe


AMF extends $1.3bn aid to Arab countries in H1

The Arab Monetary Fund (AMF) has provided financial resources valued at $1.3 billion in the form of new loans or withdrawals on existing loans to Arab countries during the coronavirus pandemic in the first half of 2020, a top official said. Dr Abdulrahman bin Abdullah Al Hamidi,


Low-cost funding for Shams members via Beehive tie-up

Sharjah Media City (Shams), the UAE's fastest growing media free zone, and Beehive, the UAE's first regulated peer to peer lending platform, have partnered to provide cheaper funding for small and medium sized enterprises (SMEs) in Shams. Shams helps entrepreneurs and sma


Bahrain POS transactions up 10% in August

The number of POS (point of sale) transactionsin Bahrain rose 10% to 6,858,807 in August 2020, compared to the same month in 2019, Central Bank of Bahrain data showed.   However, the number of transactions declined 4.1% compared to July 2020.  


BBK, Ithmaar Holding sign acquisition plans MoU

The Bank of Bahrain and Kuwait (BBK), one of the largest commercial banks in Bahrain, and Ithmaar Holding, the parent of Ithmaar Bank today signed a memorandum of understanding (MoU) on the potential acquisition by BBK of Ithmaar Bank’s Bahrain operations as well as specific assets of I


Adnoc completes $1bn placement of shares in distribution unit

Abu Dhabi National Oil Company (Adnoc) has completed a placement to institutional investors of 1.25 billion shares worth $1 billion in Adnoc Distribution which are listed and traded on the Abu Dhabi Securities Exchange (ADX). This represents 10% of Adnoc Distribution’s tota


BisB launches end-to-end account opening solution

Bahrain Islamic Bank (BisB) recently launched its new end-to-end digital service which allows individual establishments and Sijili customers to open and operate a corporate account using facial recognition via the Bank’s corporate mobile application, BisB Corporate Digital, in a few minut


Easing global funding aids emerging markets recovery

While global financing conditions have eased markedly in recent months, many emerging and frontier market economies will commence their recoveries with greater fiscal and external weaknesses, said Moody's Investors Service in a new report. "Emerging and frontier market e


Leaders sign roadmap for stakeholder capitalism in Mena

Regional leaders are advocating a shared vision for stakeholder capitalism and have signed the Principles of Stakeholder Capitalism for Mena ahead of World Economic Forum’s Sustainable Development Impact Summit on September 21-24. This roadmap advocates the importance of pu


Investcorp launches China healthcare investment platform

Bahrain-based Investcorp, a leading global provider and manager of alternative investment products, said that it has launched a new platform dedicated to investing in high-quality Chinese healthcare companies. As part of this initiative, Investcorp has acquired minority equity st

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