Bank of London and The Middle East (BLME), the largest Islamic bank in Europe, said it has sealed a key Murabaha financing agreement for UK-based Greenergy Biofuels Limited.
Greenergy is a major supplier of petrol and diesel to oi
National Bank of Kuwait (NBK) said on Tuesday it had agreed to pay 121.65 million dinars ($431.2 million) for an 11.05 percent stake in Boubyan Bank, a purchase which takes its ownership to 58.34 percent.
The bank, Kuwait's larges
National Bank of Kuwait moved a step closer to a takeover of Kuwait's Boubyan Bank on Wednesday, but a disputed stake held by another bank remains an obstacle to the $2.1 billion deal.
The Boubyan Bank board gave its backing to its main sh
The board of Kuwait's Boubyan Bank said a $2.1 billion offer by its main shareholder National Bank of Kuwait to take full control of the Islamic lender is 'fair and suitable', adding it hired an advisor to study the proposal.
National Bank of Kuwait, the country's largest lender, has offered KD581 million ($2.1 billion) for the 52.7 per cent of Boubyan Bank it does not already own, to boost its presence in Islamic banking across the Gulf region.
Arab Petroleum Investments Corporation (Apicorp) today announced the sale of its 12.5 per cent stake in Bahrain National Gas Company (Banagas) to Kuwait-based Boubyan Petrochemical Company.
The divestment was recently approved by Apicorp’
National Bank of Kuwait (NBK) and Boubyan Bank led a coalition of five banks to arrange a KD48 million ($175 million) syndicated loan for Al-Khorayef Group.
NBK and Boubyan had been mandated by Al-Khorayef Group, a leading Saudi group, to
Kuwait's Kharafi Group and South Korea's Hyundai Engineering and Construction have won a 328 million dinar ($1.14 billion) contract to develop a port in Kuwait, a local daily said on Tuesday.
The firms won the tender for the second
Boubyan Bank, leading Kuwaiti Islamic lender, said it plans to raise its capital to $609 million as it seeks to expand in Kuwait, after it received the central bank's approval for the move.
Boubyan's board has recommended to increase its c
Kuwait Investment Authority (KIA), the country's sovereign wealth fund, might sell its stake in Islamic lender Boubyan Bank in a public auction, a newspaper said.
Local daily Al-Watan said KIA aims to sell its 20 percent stake in Boub