Saturday 19 January 2019

Bank Nizwa unveils new home financing solutions in Oman

Bank Nizwa, the first dedicated Islamic bank in Oman that offers fully shari'a-compliant products and services, has launched its new home construction financing scheme - Diminishing Musharaka. Unveiling the new product, Bank Nizwa said the move comes in line with the bank'


Bahrain EDB draws $830m investments in 2018

Bahrain Economic Development Board (EDB), an investment promotion agency with overall responsibility for attracting investment into the kingdom, attracted 92 companies and investments worth BD314 million ($830 million) during 2018.    These achievements wer


UAE banking investments hit $90bn in 11 months

UAE banking investments were on the rise during first 11 months of 2018, amounting to Dh331.1 billion ($90.1 billion) by the end of November, a growth of 6.4 percent as compared to December 2017, a media report said. Investment vehicles used by banks include securities, held-to-m


Dubai DED in bid to spur ‘instant licence’ service

The Business Registration and Licensing (BRL) sector in the Department of Economic Development (DED) in Dubai, is partnering with Emaar Hospitality Group to promote the Instant Licence service offered by BRL for businesses in the Emirate. An expert team from BRL will train the Fr


AD Global Investors wins ADGM license

AD Global Investors (ADGI), a company of Invest AD (Abu Dhabi Investment Company), has been granted its licence to manage funds and assets by the Financial Services Regulatory Authority of Abu Dhabi Global Market (ADGM). ADGI is a specialist active fixed income manager serving in


Pearl Initiative holds first meeting with new board

The Pearl Initiative, a business-led non-profit organisation promoting corporate transparency and accountability in the Gulf Region, held its first meeting following the appointment of its new Board of Governors earlier in August. Offering synergetic capabilities and expertise ac


Investcorp unit closes $185m top EU tech fund deal

Investcorp Technology Partners (ITP), a leading European lower middle market technology investor, has successfully closed the transfer of its remaining two portfolio companies within ITP Fund III, with a combined enterprise value of $185 million, to a continuation vehicle, Investcorp Secondary


UAE bank deposits outvalue loans by $23bn

Deposits outvalued loans at UAE-based banks by Dh85 billion ($23 billion) during the first 11 months of 2018, a media report said, citing the Central Bank of United Arab Emirates. The Eligible Liquid Assets Ratio rose by the end of November to 17 per cent from 16.5 per cent in Oc


Traders get 50pc cut on commercial fines in Dubai

The Commercial Compliance and Consumer Protection (CCCP) sector in the Department of Economic Development (DED) in Dubai has announced an automatic settlement facility for traders eligible for 50 per cent reduction on commercial fines. The announcement is in line with the declara


BisB appoints new CFO

Bahrain Islamic Bank (BisB), a leading provider of integrated Islamic banking solutions in the kingdom, has appointed Ameer Abdul Ghani Dairi as its chief financial officer. Hassan Jarrar, chief executive officer of BisB, said: "I congratulate Ameer Dairi for taking up this

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