Company Insights Arab Bank Banking & Finance Arab Bank Overview Arab Bank was founded in 1930 in Jerusalem, which was then part of Palestine. In 1948 it located its headquarters in Amman, Jordan, the same year as it listed on the stock exchange there. The bank has since grown to become one of the Middle East’s largest, with more than 600 branches and a number of international subsidiaries. Arab Bank initially expanded across the Mena region before opening two branches in Zurich and Geneva in the early 1960s. Arab Bank offers standard retail, corporate, institutional banking and treasury services, as well as insurance through subsidiaries. Today Arab Bank’s global network spans London, Shanghai, Singapore, Sydney, Paris and Bahrain. Its subsidiaries include Europe Arab Bank, Turkland Bank, Islamic International Arab Bank, Arab National Leasing Company and subsidiaries in Tunisia, Sudan, Oman and Australia. Arab Bank News Finance Arab Bank plans 40% dividend after record 2024 profit The board of Jordan’s Arab Bank Group has proposed a dividend of 40 percent for 2024 after profit reached a record high. Net profit rose 21 percent to more than $1 billion in 2024 compared to $829.6 million in 2023. The profit rise was driven by growth across various business segments and geographic markets. Operating […] February 2, 2025 Energy Egypt secures $275m loan for largest wind farm in Africa Egypt has secured $275 million in funding for the construction and operation of the largest wind farm in Africa. The loan, granted to Suez Wind, includes $200 million from the European Bank for Reconstruction (EBRD) and Development and $75 million from Arab Bank and Standard Chartered. The project is co-financed by the African Development Bank, […] December 26, 2024 Opinion Banking & Finance Politics will rule in the surreal world of Syrian banking Do not expect the country to have an efficient system any time soon December 19, 2024 Infrastructure Middle East, not the West, should lead rebuilding, say experts Rebuilding Palestine and Lebanon will take upwards of a decade once the conflict between Israel and Hamas and Iran-backed Hezbollah ends, according to the International Monetary Fund. But the two countries should be assisted by Middle East neighbours and not left in the hands of Western superpowers, say experts. The United Nations Development Programme’s initial […] November 1, 2024 Transport Hafeet Rail secures $1.5bn loan for UAE-Oman rail link Hafeet Rail, formerly Oman and Etihad Rail Company, has secured funding of $1.5 billion from a consortium of regional and global banks for the 238km railway network. The $2.5 billion Omani-Emirati railway network project is the first link in a unified regional transport and logistics chain and will link five major ports and various industrial and free […] October 10, 2024 Banking & Finance Iraq reviews 70 digital bank applications Iraq’s central bank is reviewing applications for 70 digital banks to drive fintech growth. Digital banks are prevalent worldwide, managing financial transactions between $5 to $7 trillion annually, state-run Iraqi News Agency reported, citing Central Bank of Iraq governor Ali Al-Alaq. He said Iraq has conducted thorough studies before establishing the regulatory framework for licensing […] September 16, 2024 Banking & Finance Dubai ends double taxation for foreign banks Foreign banks including HSBC, Banque Misr and Arab Bank operating in Dubai will no longer face double taxation after a change in the emirate’s banking laws. A 9 percent corporate tax, introduced in June last year for corporations and businesses that have a taxable profit above AED375,000 ($100,000) was being applied on top of the […] March 8, 2024 Banking & Finance Bahrain Steel lands $450m loan for green transition Bahrain Steel, a supplier of high-grade iron ore pellets, has secured a $450 million sustainability-linked loan from a consortium of regional banks as part of its carbon footprint reduction drive. The loan will be used to build the world’s largest stockyard shed with rooftop solar panels, in addition to meeting working capital requirements, Dubai-headquartered lender […] January 9, 2024 Finance Acwa Power secures $545m for Saudi desalination project Saudi Arabian energy developer Acwa Power has secured funding of SAR2.045 billion ($545.3 million) for the Rawabi Water Desalination Company (Rabigh 4) independent water plant project in Saudi Arabia. The funding came from a consortium of local and global banks, including Standard Chartered Bank, Saudi National Bank, Riyadh Bank, The Saudi Investment Bank and Bank […] September 4, 2023 Renewable Energy Acwa Power secures $123m for Egyptian solar project Acwa Power, the Saudi-based energy developer, has secured $123 million of loans to reach financial close on a $182 million solar project in Egypt. The financing for the Kom Ombo solar plant, which will add 200MW of energy capacity, comes from a range of banks and funds. According to a filing to the Saudi Stock […] August 30, 2023 Posts navigation 1 2 Next
Finance Arab Bank plans 40% dividend after record 2024 profit The board of Jordan’s Arab Bank Group has proposed a dividend of 40 percent for 2024 after profit reached a record high. Net profit rose 21 percent to more than $1 billion in 2024 compared to $829.6 million in 2023. The profit rise was driven by growth across various business segments and geographic markets. Operating […] February 2, 2025
Energy Egypt secures $275m loan for largest wind farm in Africa Egypt has secured $275 million in funding for the construction and operation of the largest wind farm in Africa. The loan, granted to Suez Wind, includes $200 million from the European Bank for Reconstruction (EBRD) and Development and $75 million from Arab Bank and Standard Chartered. The project is co-financed by the African Development Bank, […] December 26, 2024
Opinion Banking & Finance Politics will rule in the surreal world of Syrian banking Do not expect the country to have an efficient system any time soon December 19, 2024
Infrastructure Middle East, not the West, should lead rebuilding, say experts Rebuilding Palestine and Lebanon will take upwards of a decade once the conflict between Israel and Hamas and Iran-backed Hezbollah ends, according to the International Monetary Fund. But the two countries should be assisted by Middle East neighbours and not left in the hands of Western superpowers, say experts. The United Nations Development Programme’s initial […] November 1, 2024
Transport Hafeet Rail secures $1.5bn loan for UAE-Oman rail link Hafeet Rail, formerly Oman and Etihad Rail Company, has secured funding of $1.5 billion from a consortium of regional and global banks for the 238km railway network. The $2.5 billion Omani-Emirati railway network project is the first link in a unified regional transport and logistics chain and will link five major ports and various industrial and free […] October 10, 2024
Banking & Finance Iraq reviews 70 digital bank applications Iraq’s central bank is reviewing applications for 70 digital banks to drive fintech growth. Digital banks are prevalent worldwide, managing financial transactions between $5 to $7 trillion annually, state-run Iraqi News Agency reported, citing Central Bank of Iraq governor Ali Al-Alaq. He said Iraq has conducted thorough studies before establishing the regulatory framework for licensing […] September 16, 2024
Banking & Finance Dubai ends double taxation for foreign banks Foreign banks including HSBC, Banque Misr and Arab Bank operating in Dubai will no longer face double taxation after a change in the emirate’s banking laws. A 9 percent corporate tax, introduced in June last year for corporations and businesses that have a taxable profit above AED375,000 ($100,000) was being applied on top of the […] March 8, 2024
Banking & Finance Bahrain Steel lands $450m loan for green transition Bahrain Steel, a supplier of high-grade iron ore pellets, has secured a $450 million sustainability-linked loan from a consortium of regional banks as part of its carbon footprint reduction drive. The loan will be used to build the world’s largest stockyard shed with rooftop solar panels, in addition to meeting working capital requirements, Dubai-headquartered lender […] January 9, 2024
Finance Acwa Power secures $545m for Saudi desalination project Saudi Arabian energy developer Acwa Power has secured funding of SAR2.045 billion ($545.3 million) for the Rawabi Water Desalination Company (Rabigh 4) independent water plant project in Saudi Arabia. The funding came from a consortium of local and global banks, including Standard Chartered Bank, Saudi National Bank, Riyadh Bank, The Saudi Investment Bank and Bank […] September 4, 2023
Renewable Energy Acwa Power secures $123m for Egyptian solar project Acwa Power, the Saudi-based energy developer, has secured $123 million of loans to reach financial close on a $182 million solar project in Egypt. The financing for the Kom Ombo solar plant, which will add 200MW of energy capacity, comes from a range of banks and funds. According to a filing to the Saudi Stock […] August 30, 2023
