Islamic Corporation for the Development of the Private Sector issues $600 mln five-year sukuk
The Islamic Corporation for the Development of the Private Sector (ICD) sold a $600 million five-year sukuk with a profit…
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More GCC banking mergers, PE investment deals looming, says expert
The GCC region is expected to see another round of bank mergers in the coming months, even as many private…
COVID-19 to take a heavy toll on GCC bank profits in 2020, says Moody's
Slowing business activity across the GCC from the coronavirus outbreak amplified by falling hydrocarbon revenues are expected to impact the…
Islamic syndications become attractive than sukuk in GCC
Islamic financing (loan) syndications are becoming popular among borrowers in the core Islamic countries such as the GCC Turkey, Malaysia…
The Egyptian Central Bank establishes a company to transfer funds and…
The Central Bank of Egypt announced the establishment and launch of the “EgyCash Technology Solutions for Cash Transactions”, which specializes…
UAE – Markets await the results marathon to regain momentum
Stock market closings varied at the end of last week’s trading amid a state of anticipation for the start of…
Infibeam Avenues inks deal with Oman’s Bank Dhofar for online payments
Under the agreement, Infibeam Avenues, through its digital payment solution, CCAvenue Payment Gateway Service will process online card transactions of…
Switzerland shared bank account data with 66 countries in 2020
The Alpine nation shared financial account details with 66 partner countries this year as part of a global automatic exchange…
PwC Middle East buys Tyconz Enterprise to expand operations
PwC has announced yesterday that it has completed an asset purchase agreement to acquire Tyconz’s Enterprise Business Applications Operations. …
Turkey’s Central Bank raises lira swap rate
Turkey’s Central Bank increased the Turkish lira interest rate for swap transactions by 150 basis points on Friday, Anadolu Agency…
Dubai's Shuaa looks to plug demand gap with new Sharia funds
Shuaa Capital, the Dubai-based asset management and investment banking firm, has launched three Sharia compliant funds, with $75 million of…
GCC's e-commerce sector surging ahead thanks to Covid-19
Kearney – a global strategic consulting firm – started tracking the region’s e-commerce landscape from 2015 onwards. A sparkling growth…