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2006

Gulf Finance denies merger rumours
Bahrainـbased Islamic investment bank Gulf Finance House (GFH) has dismissed as 'erroneous and completely without foundation' media reports about its engagement in merger talks with Kuwait's First Investment Bank or any other bank. 'Gulf Finance House would like to assure its shareholders, investors and clients that it has no plans to merge with any bank or financial institution and continues to operate as a standalone Islamic investment bank,' it said.
Kuwait: 1 hour, 10 minutes ago

Pioneers Syria to run Qatar National IPO
Qatar National Bank has said it has appointed Pioneers Syria, a licensed investment and brokerage firm based in Damascus, as the manager for the 34% initial public offering of its subsidiary in Syria. The IPO, scheduled to open for subscription between July 12 and August 10, 2009, will raise $37.15m.
Qatar: 1 hour, 14 minutes ago

NBK Boubyan stock buy approved by central bank
National Bank of Kuwait has said that the country's central bank has renewed its approval for the country's biggest bank by assets to buy up to 40% in Islamic lender Boubyan Bank. NBK, which currently owns a 13.85% stake in Boubyan, has said the new three month approval period started on June 28.
Kuwait: 1 hour, 17 minutes ago

CBK begins 'restructuring'
The Commercial Bank of Kuwait's Capital chairman Fowzi Al Ateeqi has said that the firm has launched a restructuring operation and has laid off some non-Kuwaiti employees at its investment unit in a strategy shift focusing on investments at home instead of abroad. 'The firm will not get involved in any foreign investment activity for the time being,' Al Ateeqi said.
Kuwait: 1 hour, 21 minutes ago

Qatar lending falls by QR15.5bn
Qatar's bank lending has fallen by QR15.5bn during the first quarter of this year, 7% lower than the previous quarter, ending in December 2008, The Peninsula has reported. According to the Qatar Central Bank, personal loans had a total share of loans amounting to QR56bn till last February while real estate loans took up a total of QR37bn.
Qatar: Saturday, July 04 - 2009 at 09:31

Kuwait Finance launches student financing
Kuwait Finance House Bahrain has announced the launch of its student financing product, which is based on Islamic finance principles. The new product is designed to facilitate entry into higher education by financing tuition fees for undergraduate as well as graduate students in Bahrain undertaking studies at universities accredited by the Ministry of Education. The product may also be available to students undertaking studies at international universities on a case by case basis, KFH Bahrain has noted.
Bahrain: Thursday, July 02 - 2009 at 10:22

UAE banks' Saudi exposure tops $3bn
UAE banks have exposure of more than $3bn through syndicated and bilateral transactions to Saudi groups, Saad and Algosaibi, and their banking outfits, according to Emirates Business. Sources said while Abu Dhabi Commercial Bank (ADCB) has $395m in its deal with Saad Group, it has $40m outstanding with Algosaibi Group. For Mashreq, these numbers add up to $160m and $50m, respectively.
United Arab Emirates: Thursday, July 02 - 2009 at 10:05

MoneyGram expands network in Saudi Arabia
Saudi-based National Commercial Bank has signed an agreement with MoneyGram International that will enable users of NCB to access the US-based firm's money transfer services at NCB's 1,400 ATM locations. The Saudi government owns a majority interest in the bank.
Saudi Arabia: Wednesday, July 01 - 2009 at 09:42

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