Saturday 18 April 2015
 
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IFSB admits 6 organisations into its membership

The Council of the Islamic Financial Services Board (IFSB) has approved the admission of six organisations into the its membership. It includes one supervisory authority as a full member, another supervisory authority as an associ

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Ahli United plans to raise $4bn in financial instruments

Bahrain-based Ahli United Bank (AUB) Group may raise $4 billion in bonds, loans or any other similar subordinated financial instruments, following shareholder approval for the proposal, it has emerged. The election of Hamad Al Hum

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Al Baraka shareholders approve 3pc cash dividend

The shareholders of Al Baraka Banking Group have approved cash dividend of three per cent or three cents per share and one bonus share for every 50 fully paid up shares. This follows a joint annual and extraordinary general meetin

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Arab Banking Corporation approves 5pc cash dividend

The shareholders of the Arab Banking Corporation (ABC) have approved a cash dividend distribution of five per cent of the issued share capital ($0.05 per share), amounting to $155.5 million. The dividend was recommended by the ban

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CBQ shareholders approve up to $1bn capital raising

Shareholders of Commercial Bank of Qatar (CBQ) have approved the issue of up to $1 billion in capital-raising instruments, the bank said on Thursday. The annual shareholders' meeting of the Gulf Arab state's second-largest

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Bahrain council approves major Penal Code changes

Major amendments to Bahrain's 40-year-old Penal Code, including harsher punishments for manslaughter and defaming government employees, have been approved by the Shura Council. The amendments, originally suggested by parliamen

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DME approves Mizuho Bank LCs from Singapore

Dubai Mercantile Exchange (DME) has approved Tokyo-headquartered Mizuho Bank to issue letters of credit (LCs) for trading on DME directly from Singapore. Mizuho Bank is the first Japanese banking entity to be authorised to issue D

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Bahrain council approves BIBF expansion plans

Bahrain Institute of Banking and Finance’s (BIBF) budget for next year has been approved by the Specific Council for Vocational Training (Banking Sector), a statement said yesterday, without providing details of the budget.

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Saudi approves foreigners to own health care facilities

Saudi Arabia’s Ministry of Health has opened the door for foreigners to own and run private health care centres and facilities in the kingdom, according to a report. It has approved amendments to the conditions of the Saudi

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Bahrain approves law to protect property investors

A new law designed to resolve failed multimillion-dinar investment projects and protect investors was approved by Bahrain’s Cabinet yesterday (October 19). The new bill is intended to overcome problems at stalled property de

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