Sunday 30 August 2015
 
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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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UAE's Sheikh Mohammed donates to humanitarian cause

Sheikh Mohammed bin Sultan bin Khalifa Al Nahyan has donated his prize of Dh1 million ($272,177) under ‘Al Hilal Bank Savings Account’ promotion to the Sultan Bin Khalifa Humanitarian & Scientific Foundation.  

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BMI Offshore bank turns sharia-compliant

Seychelles-based BMI Offshore Bank (BMIO), partly owned by BMI Bank Bahrain, is being converted into a sharia-compliant bank, it has emerged. This follows a visit to Seychelles by a delegation from BMI Bank, a subsidiary of Al Salam Bank-Bahra

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Khaleeji Commercial profit rises 177pc to $11m

Khaleeji Commercial Bank (KHCB), a Bahrain-based Islamic bank, has reported an increase of 177 per cent in net profit for the first half at BD4.4 million ($11.67 million), compared with BD1.6 million for the same period last year. The profit fig

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Ibdar earns 15pc returns on construction project sale

Ibdar Bank, a Bahrain-based Islamic wholesale investment bank, has earned returns of 15.95 per cent from the sale of a $30 million construction project, it announced yesterday. The bank said its exit from Sakan Development Company

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Bank Audi’s net profit rises 7pc to $202m

Lebanon's Bank Audi said first-half net profit rose seven per cent to $202 million compared with the same period last year, mostly due to higher revenue and it recorded healthy growth in its Egypt and Turkey operations. The ba

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Al Hilal Bank appoints new board

Al Hilal Bank has appointed a new board of directors under the chairmanship of Mohamed Abdullah Al Rumaithi. Mohamed Ali Al Dhaheri has been elected as the vice chairman to the board, said a statement. During Ahmed

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