Sunday 1 March 2015

Warba Bank arranges $150m loan for IBA

Kuwait-based Warba Bank recently arranged a $150 million Sharia-complaint syndicated finance facility for the International Bank of Azerbaijan (IBA). The facility has a tenor of one year with a bullet repayment due at maturity. Warba Bank participated in this transaction with a s


Bank lending in Bahrain to pick up

Commercial bank lending in Bahrain is expected to pick up after a slump, and the plunge of oil prices is not hurting liquidity in the banking system, Bahrain's central bank governor Rasheed Al-Maraj said on Tuesday. Domestic assets of banks in Bahrain shrank 4.0 per cent from


Jazan Economic City focus for forum

Comprehensive information on the Jazan Economic City (JEC) project with presentations by subject matter experts will form the agenda for the two-day Jazan Economic Forum (JEF) opening tomorrow (February 25) in Jazan City, Saudi Arabia. The speakers will provide delegates strategi


Top experts focus on bancassurance issues

Leading regional and international bancassurance and insurance experts are discussing the impact of changing regulations and market trends at the Bancassurance Mena Summit, currently taking place in Dubai, UAE. Banassurance, whereby insurance companies and banks collaborate to pr


Burgan Bank Q4 net profit jumps

Burgan Bank, Kuwait's third-largest lender by assets, reported a 424 per cent rise in fourth-quarter net profit on Tuesday. Burgan, a unit of Kuwait Projects Co (Kipco), made a net profit of KD13.1 million ($44.3 million) in the three months to December 31, up from KD2.5 mill


Arab countries’ consumption patterns in focus

The consumption patterns in Arab countries, focusing on three main resources - energy, water and food, which are in nexus with climate change, will be the subject of a public opinion survey. The survey by the Arab Forum for Environment and Development (AFED) will feature a team o


UAE inflation jumps 3.7pc in January

Consumer inflation in the United Arab Emirates (UAE)  jumped 3.7pc in January compared to the same period last year, according to the National Bureau of Statistics figures. It's the highest rate of inflation since 2009. The infation rate rose 0.7 per cent


Internationalisation strategies for Islamic finance in focus

The General Council for Islamic Banks and Financial Institutions (CIBAFI) and the Islamic Development Bank (IDB), the global umbrella organisation for Islamic financial institutions (IFIs), has launched a roundtable meeting of the directors of operations and investment of IFIs. T


Major GCC financial forum opens in Bahrain

Euromoney Conferences, organisers of the fourth GCC Financial Forum, announced yesterday (February 23) that two top banks, the National Bank of Bahrain (NBB), Bank of Bahrain and Kuwait (BBK) and the Oil and Gas Holding Company (nogaholding) have signed up as lead sponsors of this year's ev


Key Bahrain-India deals to bolster ties

Bahrain and India have signed agreements to increase co-operation in the areas of education, investment, defence and other sectors. It took place during the first meeting of the India-Bahrain High Joint Commission (HJC) in New Delhi, said a report in the Gulf Daily News (GDN)

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