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Commercial Bank of Qatar to sell GDRs
Commercial Bank of Qatar is to sell global depositary receipts and list them on the London Stock Exchange, reported Bloomberg. The bank has appointed Morgan Stanley, the second-biggest US securities firm, as the financial adviser for the sale.
Qatar: Tuesday, May 27 - 2008 at 13:40

BOS renames Banque de la Bekaa Sal
Bank of Sharjah announced today that it is in the process of changing the name of its wholly owned subsidiary from Banque de la Bekaa Sal Lebanon to Emirates Lebanon Bank Sal 'ELBank'. Varouj Nerguizian, Chairman and General Manager of ELBank, said the capital of the new entity will be increased to $50m plus a cash contribution of $100m in order to reach a total equity of $150m. The change of the name, the capital increase and the cash contribution were recently approved by the Central Bank of Lebanon.
United Arab Emirates: Tuesday, May 27 - 2008 at 10:34

Emirates NBD eyes Saudi bank stake
Dubai-based Emirates NBD, the Gulf's largest lender, is interested in buying Royal Bank of Scotland's stake in Saudi Hollandi Bank to tap retail business in the kingdom, NBD's CEO Rick Pudner told Reuters. RBS owns 40% of Saudi Hollandi, a stake worth about $1.72bn.
United Arab Emirates: Tuesday, May 27 - 2008 at 07:34

Islamic Insurance agrees foreign ownership
Dubai Islamic Insurance and Reinsurance has approved foreign ownership of up to 15% of its stock. According to a Bloomberg report, a shareholder vote also approved 10-1 stock split, reducing the value of the company's shares to one dirham.
United Arab Emirates: Monday, May 26 - 2008 at 13:21

Global Invesmtent buys into First Securities
Global Investment House has received regulatory approval to buy a 70% stake in First Securities Brokerage. The bank will pay $3.73 per share.
United Arab Emirates: Monday, May 26 - 2008 at 09:01

ADCB allows $218m credit
Abu Dhabi Commercial Bank has approved a medium term credit facility of $218m to private equity firm Gulf Capital. The financing facility will be available on a revolving structure basis.
United Arab Emirates: Monday, May 26 - 2008 at 08:19

Qatar National Bank rated A+
Fitch Ratings has given the Qatar National Bank, the country's oldest bank, a long term issuer default rating of A+. The report issued by the firm confirms the status based on the fact that the bank is 50% owned by the state of Qatar through the Qatar Investment Authority.
Qatar: Sunday, May 25 - 2008 at 07:53

Bahrain Islamic Bank syndicates Tameer finance
The Bahrain Islamic Bank has signed an 18 month, $32m deal with Tameer. The bank acted as the syndicate manager for the Bank of Bahrain and Kuwait and the Ahli United Bank to structure finance through the London Metals Exchange's Global Commodity Murabaha.
Bahrain: Saturday, May 24 - 2008 at 09:56

Index : Banking : Page 28