Banking & Finance

Qatar’s sukuk issuances grow 122 percent to $500 million in H1 2024: Fitch

Qatar’s debt capital market reached about $130 billion outstanding at the end of H1 of 2024 with sukuk at 10 percent

Abu Dhabi Finance Week reveals top finance leaders set to speak at 2024 edition

The 2024 edition will feature over 300 speakers, including CEOs and Chairs from 50 major global financial institutions

Mashreq closes AED-denominated $136.13 million syndicated loan for TDB

Facility launched in July and was successfully subscribed by seven leading institutions from the Gulf region

UAE’s Al Ansari announces $42.9 million interim cash dividend for 2024

The deadline for dividend entitlement is September 26, 2024, with the ex-dividend date on September 27, 2024 

Abu Dhabi Housing Authority and Abu Dhabi Commercial Bank collaborate to enhance housing loan accessibility for UAE nationals

This initiative allows eligible citizens to secure extra financing on their AED1.75 million loans for better housing

ADNOC Distribution approves $350 million interim cash dividend for H1 2024

ADNOC Distribution to pay the second and final dividend for 2024 in April 2025

Arcapita and Dgpays consortium acquires majority stake in NEOPAY from Dubai’s Mashreq

The transaction values NEOPAY at approximately $385 million, pending regulatory approvals

UAE issues treasury bonds, Islamic sukuk worth $6.81 billion since 2022

The programs saw the issuance of treasury bonds worth $3.05 billion and Islamic sukuk worth $3.76 billion

AD Ports Group signs agreements with two UAE banks to refinance $2.25 billion debt

The two new lending facilities also extend debt maturity to 2026 and beyond

Safaricom, Mastercard to expand remittances, payment acceptance to over 636,000 merchants in Kenya

Safaricom and Mastercard are working together to foster innovation and financial inclusion within Kenya’s evolving digital landscape

US Federal Reserve, UAE Central Bank cut interest rates by 50 basis points

The Fed attributed this move to recent indicators that suggested that economic activity continued to expand at a solid pace

DP World Trade Finance, Nedbank partner to deliver working capital solutions in Africa

DP World Trade Finance implemented a supply chain finance program on its platform, with Nedbank CIB as the financer

ADGM, DMT sign MoU to transfer real estate services on Al Reem Island

The agreement clarifies roles for smooth transition of Al Reem Island Real Estate from DMT to ADGM

UAE’s National Bank of Fujairah issues Additional Tier 1 capital securities at $275 million

This initiative aims to enhance capital structure and refinance $350 million in existing AT1 securities

Kuwait Central Bank issues bonds, tawarruq worth $792 million

These issuances have a maturity period of three months, with a yield of 4.375 percent 

Saudi Maaden, Bahrain’s Alba ink non-binding deal to explore potential business merger

This collaboration aims to generate synergies that boost production, ESG performance, energy security, and shareholder value

Saudi-Egyptian investment protection deal to launch in two months, says PM Madbouly

The trade between Saudi Arabia and Egypt surpassed $33 billion during 2022 and 2023

Etihad Credit Insurance sees $381.2 million in credit coverage in Abu Dhabi in first eight months of 2024

ECI achieves 8 per cent increase in credit coverage and 24 per cent growth in insurance document issuance

World Bank, Qatar in global education partnership

The World Bank will work with Qatar and Education Above All in the development of new, innovative financial tools for education

Invest in UAE stock markets with zero transaction fees as Emirates NBD launches new initiative

Platform includes more than 11,000 global equities and 150 regional equities to trade

Qatar’s private sector credit to grow on large-scale project momentum, says Moody’s

Qatari banks will likely shift toward a longer-term funding structure in a lower interest rate environment