Thursday 25 April 2024

Emirates Islamic concludes debut $500 million financing facility

Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has announced the successful conclusion of its debut $500 million syndicated financing facility. The landmark three-year term financing facility is the first of its kind raised by a Shariah-compliant financ


SNB Capital closes cross-border insurance M&A deal

SNB Capital has led the buyside advisory on Abu Dhabi National Insurance Company (ADNIC)’s SR499 million ($133 million) acquisition of 51% of the share capital of Allianz Saudi Fransi Cooperative Insurance Company (ASF).   The acquisition of a majority sta


GCC insurers’ top-line growth to be 5pc-15pc in 2024: S&P

S&P Global Ratings expects GCC insurers' top-line growth to range between 5% and 15% in 2024, with Saudi insurers likely to expand at the fastest pace.   The top-line growth of insurers in Gulf Cooperation Council (GCC) countries will likely result from


Dubai Investments shareholders approve 12.5pc dividend

Dubai Investments, a leading diversified investment Company listed on the Dubai Financial Market (DFM), has announced the distribution of 12.5% cash dividend to the shareholders for the financial year ending December 31, 2023.    The company’s 28th An


Every dirham lost to fraud in UAE costs firms AED4.19: study

Businesses in EMEA now bear a cost of fraud that is 3.90 times the face value lost in fraudulent transactions, says LexisNexis Risk Solutions.    Unveiling the findings of its 2023 LexisNexis True Cost of Fraud Study – Europe, Middle East and Africa s


Carbon markets to play ‘critical role in decabonisation’

Carbon Markets will play a critical role in decarbonisation just like financial markets ‘grease the wheels’ of the economy by allocating and pricing capital, says a whitepaper by Investcorp, a leading alternative investment firm.   The whitepaper, &l


Sukuk market set to grow; GCC DCM to cross $1 trillion

Sukuks are expected to grow further through the remainder of 2024 – albeit slowed from 1Q24 – and the GCC debt capital market (DCM) is well on its way to cross $1 trillion outstanding, says a Fitch Ratings report.   The upgrades of Qatar and Turkiye


Tech firm launches digital supply chain financing solution

Codebase Technologies, a UAE homegrown financial technology platform provider, has announced the launch of its Digibanc SME Financing platform to address the needs of underserved MSME’s across Mena and APAC.    Through the new launch, the UAE-based fi


Lombard Odier appoints Ali Janoudi as Head of New Markets

Bank Lombard Odier & Co Ltd has announced the appointment of Ali Janoudi as Head of the New Markets region as of April 1, 2024.    Based in Geneva, he becomes a Limited Partner and reports to Frédéric Rochat, Managing Partner and Co-Head o


Mantra launches incubator in Dubai World Trade Centre

Mantra has launched its new incubation programme at the Dubai World Trade Centre (DWTC), following an $11 million funding round led by Shorooq Partners. This programme is part of Mantra's effort to contribute to the Real World Asset (RWA) tokenisation sector, with a focus on the Mena regi

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