Tuesday 1 September 2015
 
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GCC bankers gear up to discuss future of banking technology

More than 450 GCC bankers will come together next month at a leading banking technology and innovation event in Dubai this month.   The fifth Annual Middle East Banking Innovation Summit will take place on Septem

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UGB appoints acting chief executive officer

United Gulf Bank has appointed Hussain Lalani as its acting chief executive officer.   Lalani, who is currently the chief financial officer, has been with the bank since 2002, said a statement.  

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Seera registers $2.3m net profit in H1

Seera Investment Bank, a sharia-compliant investment bank headquartered in Bahrain, reported consolidated net income of $2.3 million for the six months ended June 30, compared with a loss of $29.5 million for the same period last year. The pro

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Bank ABC closes $320m syndicated facility for KIB

Kuwait International Bank (KIB) has successfully closed a debut syndicated murabaha financing facility. A statement said Bahrain-based Bank ABC and Bank ABC Islamic acted as the initial mandated lead arrangers and co-ordinating banks for the f

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Burgan Bank's redemption threat rattles ME bond market

Investors were caught completely off-guard this week after Burgan Bank announced that it could redeem subordinated bonds ahead of time, raising concerns that bondholders have grown complacent about regulatory risk across the Middle East.

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$125m term loan facilty launched for United Arab Bank

United Arab Bank has mandated Arab Banking Corporation (Bank ABC) as initial mandated lead arranger and bookrunner to arrange on its behalf a $125 million syndicated term loan facility.   The facility, which will

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Gold spinning its wheels as hedge funds flee

The sentiment in gold and other metal markets has been turning increasingly negative during the past month, according to an expert.   Ole Hansen, head of commodity strategy at Saxo Bank, said that no signs of inf

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UAE's Sheikh Mohammed donates to humanitarian cause

Sheikh Mohammed bin Sultan bin Khalifa Al Nahyan has donated his prize of Dh1 million ($272,177) under ‘Al Hilal Bank Savings Account’ promotion to the Sultan Bin Khalifa Humanitarian & Scientific Foundation.  

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BMI Offshore bank turns sharia-compliant

Seychelles-based BMI Offshore Bank (BMIO), partly owned by BMI Bank Bahrain, is being converted into a sharia-compliant bank, it has emerged. This follows a visit to Seychelles by a delegation from BMI Bank, a subsidiary of Al Salam Bank-Bahra

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Khaleeji Commercial profit rises 177pc to $11m

Khaleeji Commercial Bank (KHCB), a Bahrain-based Islamic bank, has reported an increase of 177 per cent in net profit for the first half at BD4.4 million ($11.67 million), compared with BD1.6 million for the same period last year. The profit fig

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