Sunday 11 December 2016

Bahrain to host key AmCham Mena forum

The American Chamber of Commerce Bahrain (AmCham Bahrain) is set to host the bi-annual forum of AmCham Mena regional council in Manama next year. The forum aimed at promoting trade and investment between the US, Bahrain and the markets of the Middle East and the North Africa (Men


Foreigners buy $680m shares on DFM

Foreign investors purchased shares worth Dh2.5 billion ($680 million) on the Dubai Financial Market (DFM) over the week, while the value of stocks they sold amounted to Dh2.4 billion ($653 million), said a report. The net foreign investment during the period reached Dh148.5 milli


DMCC, Turkey plan gold exchange for Islamic markets

Dubai Multi Commodities Centre (DMCC), the free zone authority on trade, enterprise and commodities in the emirate, has signed a MoU with Borsa Istanbul to set up an universal Sharia-compliant gold exchange for Islamic markets. The MoU is aimed at extending the current scope of c


IDB lists $1.25 billion sukuk on Nasdaq Dubai

The Islamic Development Bank (IDB) listed a $1.25 billion Sukuk today (December 8) on Nasdaq Dubai, the region’s international financial exchange.   It is the seventh Sukuk listing on the exchange by the IDB, making it the largest Sukuk issuer on Nasdaq Dubai at $8.55


ICD to implement new Islamic finance model

The Islamic Corporation for the Development of the Private Sector (ICD) has signed an agreement with AlHuda Center of Islamic Banking and Economics (CIBE) to implement its new banking model. The Islamic Corporation for the Development of the Private Sector (ICD) has signed an agr


Mashreq introduces UAE’s first chatbot

Mashreq, the UAE’s leading financial institution, has introduced its chatbot – UAE’s First ‘Mashreq Bot’; an Artificial Intelligence agent – programmed to simulate an intelligent conversation with users.  Customers can use the chatbot to d


WIBC assesses the way forward for Islamic finance

The future potential, new territories available, environmental sustainability and financial inclusion of the Islamic finance industry were the critical discussion points on the final day of the World Islamic Banking Conference (WIBC) in Bahrain. Day two kick-started with an engag


Eskan's debut REIT issue gets solid response

Eskan Bank, a leading provider of housing finance in Bahrain, said the initial public offering of Bahrain's first Sharia-compliant retail real estate investment trust (REIT) has exceeded 95 per cent subscription rate. Securities & Investment Company (Sico) was the mandate


Raising funds for start-ups ‘still a challenge’

Raising funds in the Middle East remains challenging despite the great start-up ideas and the myriad opportunities that the region has to offer investors, according to accountancy and finance body ICAEW. This was the consensus during ICAEW’s Corporate Finance Faculty roundt


Egypt’s renewable energy projects eye $3bn financing

A total of 30 international and local banks are preparing to negotiate with renewable energy projects to finance the second phase of the feed-in tariff projects with $3 billion, a report said. The banks include the International Financing Corporation (IFC), the European Bank for

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