Al Khaliji posts net profit of QR177mn in Q1
Al Khaliji has reported a flat year-on-year net profit of QR177mn in the first three months of this year. …
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Gulf lenders can absorb up to $36bn shock, says S&P
The Covid-19 pandemic and the collapse of oil prices will test the earnings of Gulf-based lenders but overall they could…
Coronavirus: Saudi Arabia forced to boost borrowing as oil glut slams virus-hit economy
Saudi Arabia could be forced to borrow around $26bn more this year and will draw down up to $32bn from…
Kuwait banking association head says 25% of bank branches will open on Sunday
The head of the Kuwait Banking Association, Adel Al-Majed, said on Thursday that 25% of bank branches in Kuwait will…
DFSA fines La Tresorerie Dh2.25m for illegal cash services, regulatory failings
Dubai Financial Services Authority, the regulator of the Dubai International Financial Centre fined La Tresorerie Ltd $612,790 (approximately Dh2.25 million)…
Saudi Arabia gives three-month loan repayment delay for citizens – central bank
Saudi Arabia’s Monetary Authority has instructed the kingdom’s banks to delay by three months the payment of instalments due on…
Masraf Al Rayan posts QR547mn net profit in Q1
Masraf Al Rayan has achieved a net profit of QR547mn in the first quarter of 2020, up 0.5% on the…
Saudi Arabia hosts virtual G20 business chiefs meeting for post-pandemic strategy
Business chiefs from the G20 nations have held a virtual meeting to plan a strategy to revive the post-pandemic global…
Egypt raises bank withdrawal cap during Ramadan
The Central Bank of Egypt has raised individuals’ cash withdrawal limit during the Muslim fasting month of Ramadan through ATM…
Omani banks to freeze personal loans repayment for three months – state news agency
Oman's central bank has asked banks and financial institutions to freeze repayments of personal and housing loans for three months…
Bahrain Islamic Bank launches new facility
Bahrain Islamic Bank has launched a new service, whereby customers can withdraw cash online directly from a credit card to…
Doha Bank Q1 net profit surges 5% to QR324mn
Doha Bank has registered a more than 5% year-on-year increase in net profit to QR324mn at the end of first…