Friday 4 September 2015
 
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IIRA reaffirms ratings of Jordan Islamic Bank

Islamic International Rating Agency (IIRA) has reaffirmed the ratings of Jordan Islamic Bank (JIB) on the national scale at A+/A1 (jo) (Single A plus/A One). Ratings of JIB on the international scale have also been reaffirmed with the foreign

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Seera nets $64m from sale of Kosan Crisplant

Bahrain-based Seera Investment Bank has sold an investment asset to a Saudi Arabian construction company for 424 million Danish Krone ($63.8 million). The sharia-compliant investment bank said in a statement yesterday that it sold Kosan Crispl

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International Investment Bank appoints new chief

Bahrain-based International Investment Bank (IIB) has appointed Subhi F Benkhadra as its new chief executive officer.   Benkhadra, previously the chief executive officer of Abu Dhabi based Baniyas Investment and

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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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