Banking & Finance

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Newswire reports suggest that Goldman Sachs’ issue of a five-year $500 million Sukuk was some 3x oversubscribed with orders of around $1.5 billion.
The US investment bank appears to have learned from the fiasco of its first attempt to market a Sukuk in 2011.

July 27, 2014

During the event
05:52 GMT
(press release)

Gulf Bank is welcoming its third batch of eager young adults that will be undergoing a 5 week Internship Program via ‘Lothan Youth Achievement Center’ (LOYAC) which specializes in preparing youth in Kuwait to assume leadership roles in their future careers.

July 24, 2014

Emirates NBD profits were helped by revenue growth in Retail Banking & Wealth Management, along with the Islamic banking subsidiary, Emirates Islamic (File/AFP)
13:55 GMT

The UAE's largest bank, Emirates NBD, reported a net profit growth of 30 percent for the first half of the year.

KIPCO is Kuwait's largest privately owned investment company (Image: URC)
12:22 GMT

Kuwait's largest privately owned investment company said it was on track to meet the target of a double-digit rise in revenue this year.

Dr. Adnan Chilwan, Chief Executive Officer at Dubai Islamic Bank
06:46 GMT
(press release)

The Government of Pakistan has appointed the consortium headed by Dubai Islamic Bank (DIB) as the Financial Advisor on the Restructuring of Pakistan International Airlines Corporation.

July 23, 2014

Mr. Majed Essa Al Ajeel, Chairman of Burgan Bank Group
09:55 GMT
(press release)

Burgan Bank Group announced its first half results for the financial year 2014. Burgan Bank Group reported net income of KD33.3 million for the first half of the financial year 2014 reflecting 19.4% growth.

Sharjah Islamic Bank
06:27 GMT
(press release)

Sharjah Islamic Bank announced its 1st Half 2014 results with Net Profits reaching AED 202.1 million, compared to 134.7 million achieved in the same period last year, a 50% growth rate.

The Bank continued to show its support to the national agenda by appointing Abdul-Qader Al Sumali and Sulaiman Al-Lamki into senior executive positions.
04:05 GMT

HSBC Bank Oman continued its branch investment programme with more branches refurbished to help deliver the best in-branch customer experience

July 22, 2014

Sharjah Islamic Bank
06:25 GMT
(press release)

Sharjah Islamic Bank has launched their Splendid Summer Offer – a new highly competitive personal finance product with the lowest rates ever, starting from only 2.99%.

 Major global stock markets fell and bond prices ralliedas worries over conflict in the Gaza Strip and Ukraine raised uncertainty for investors and kept them away from riskier assets.
04:55 GMT

Shocks to the system from Ukraine and Israel’s ground invasion of Gaza come at a time when markets have been worried about economic growth on both sides of the Atlantic and digesting second-quarter earnings reports.

July 21, 2014

Ambar Brahmachary, Head of Marketing & Customer Experience
06:55 GMT
(press release)

Mashreq, UAE’s leading financial institution, received the Superbrands 2014 for the 4th year in a row from the Superbrands Council UAE.

Other powerhouses in Dubai also crashed.
04:55 GMT

Arabtec was suspended from trade on Thursday due to ambiguity on share ownership by Aabar Investments.

FBME was originally established in Cyprus in 1982 as a subsidiary of the Federal Bank of Lebanon SAL.
03:18 GMT

“The Central Bank of Cyprus announces that, under the powers conferred to it by the relevant legislation, [it] has taken over, as of today, the management of the operations of the branch of FBME Bank Ltd. in Cyprus."

July 20, 2014

Marc Mollema, Managing Director and Global Head of Energy & Resources at NBAD
11:10 GMT

The National Bank of Abu Dhabi (NBAD) has appointed Marc Mollema as the Managing Director and Global Head of Energy & Resources as NBAD aims to expand its services to the sector.

During the event
08:20 GMT
(press release)

Al Ansari Exchange has donated AED 250,000 to Al Noor Training Center for Children with Special Needs, a Dubai-based non-profit organization for children with Special needs between the ages of 3 and 18.

Mr. Venkat Menon, Burgan Bank’s Chief Retail Banking Officer receiving the award
07:54 GMT
(press release)

Burgan Bank announced that it has won the coveted “Best Domestic Retail Bank of the Year” award from the Asian Banking and Finance Magazine.