News
UAE Central Bank: Banks must not keep debtor cheques after payment
Central Bank warns that banks must return cheques to clients after debt is settled or the loan request is rejected.
UAE is largest GCC investor in Turkey
Total investments by the six-nation Gulf Cooperation Council (GCC) in Turkey are estimated at nearly USD10bn, including around USD6.5bn invested during 2004-2011.
BankDhofar raises OMR50m subordinated loan
The loan is designed to strengthen the bank's capital position and support funding and asset growth.
Oman: ODB pumps OMR354m in all economic sectors
The number of loans funded by Oman Development Bank (ODB) since its incorporation till November 2011 amounted to 36,977 to various economic sectors in the Sultanate worth OMR 354 million.
Aldar says committed to remain listed despite Mubadala stake hike
Abu Dhabi-based Aldar Properties is fully committed to maintain its listing, the company said Sunday, moving to quash market speculation that it may delist after a government investment firm raised ...
NBK Capital exits Aras Cargo investment
Kuwait-based NBK Capital said it completed a successful exit of its investment in Aras Cargo resulting in a significant return for the fund.
UAE ministry fuels credit card hopes
Customers may soon be able to pay for fuel by credit card at gas stations around the UAE for a surcharge of AED 2 or 1.35% of their fuel purchase price.
SABB to raise capital by 33% to SAR 10 billion
The Saudi British Bank said its board has decided to recommend a capital increase from SAR 7.5 billion to SAR 10 billion by issuing of bonus shares at the rate of one for each three shares held.
Saudi ministry investigates 526 suspicious financial deals
The central bank also handled a total of 134 cases involving the exchange of information with foreign entities.
Islamic finance values hold key to innovation
Islamic finance, stress academics such as Professor Hashim Kamali, has provided sufficient evidence that the Shariah has enormous potential to contribute to the Public Good.