Tuesday 21 August 2018
 
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GIB on track to become local bank in Saudi Arabia

Gulf International Bank (GIB) said that is now in the final stages of completing the steps to convert its branches into a locally incorporated bank in Saudi Arabia. GIB in May 2017, GIB received approval from the Council of Minist

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Burgan Bank H1 profit hits $168m

Kuwait-based Burgan Bank Group announced today reported KD50.5 million ($168 million) net income for the first half of this year, a growth of 30 per cent compared to the same period last year.    During the

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NBB profits rise 15.9pc to $97.85m in H1

National Bank of Bahrain (NBB) continued to post robust results, reporting a 15.9 per cent rise in net profit to BD 36.79 million ($97.85 million) for the first half of 2018, compared to BD31.74 million for the same period of 2017.  

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Emirates NBD H1 profit jumps 29pc to $1.36bn

Emirates NBD, a leading bank in the region, delivered a record set of results with net profit up 29 per cent to Dh5 billion ($1.36 billion) for the first half of this year.   Net interest income improved 20 per c

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Qatar Development Bank announces new tourism project

A new seafront tourism project that offers 100 investment opportunities for entrepreneurs has been launched by Qatar Development Bank, a report said. The Doha Tourism Project, spread over 79,000 sq m, will be designed based on a m

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Qatar Development Bank announces new tourism project

A new seafront tourism project that offers 100 investment opportunities for entrepreneurs has been launched by Qatar Development Bank, a report said. The Doha Tourism Project, spread over 79,000 sq m, will be designed based on a m

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Dubai Islamic Bank donates $4m to Sharjah charity

Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has donated Dh15 million ($4.08 million) of Zakat money to Sharjah Charity International, said a report. Abdul Razzaq Al Abdullah, head of Community Services Departmen

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Dubai Investments to launch new Islamic bank

Dubai Investments has announced plans to lead a consortium of investors to launch Arkan Bank, a wholesale Islamic financial institution with an initial paid-up capital of $100 million. The authorised share capital of Arkan Bank wi

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FAB refutes allegations over Qatari rial

First Abu Dhabi Bank (FAB) has refuted allegations that it had conducted any transaction with the intent to manipulate the Qatari riyal.   In a statement, FAB said: “Following recent media speculation, we a

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Lanterns Lounge inks key deal with AFS, Al Salam Bank

AFS, the region’s leading FinTech enabler, and payment services provider, and Al Salam Bank-Bahrain have signed an MOU with Lanterns Lounge and Restaurant group to roll out a Digital Payroll Program benefiting both the group as well as its

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