Banking and Finance FAB joins banks to lend $750m to India’s Adani unit Adani Airports Holdings, the largest private airport operator in India, has raised $750 million from banks including the UAE’s First Abu Dhabi Bank (FAB). The other banks involved are Barclays and Standard Chartered, the Bombay Stock Exchange-listed company said in a statement on Wednesday. Adani Airports Holdings (AAHL) is a subsidiary of India’s Adani Enterprises, […] June 5, 2025
Finance Saudi Arabia targets $12.6bn from bonds for rest of 2025 Saudi Arabia is expected to issue $12.6 billion in bonds for the remainder of the year, JPMorgan said, as the kingdom resorts to the debt markets amid huge investments to overhaul its economy and lower oil prices. The Gulf country, which forecasts a budget deficit of $26.9 billion this year, is seeking funds to invest in […] June 4, 2025
Aviation Dubai Aerospace secures $300m loan from Bank of China Aircraft leasing company Dubai Aerospace Enterprise (DAE) has secured a $300 million loan from the Bank of China. The money will be used for general corporate purposes and support upcoming financing requirements, the company said in a statement on Monday. The three-year unsecured term loan was issued by the lender’s Dubai, London and Hong Kong branches. […] June 3, 2025
Analysis Banking and Finance Corporate borrowing swells Saudi banks’ Q1 profits Saudi Arabia’s big banks prospered in the first quarter thanks to soaring borrowing demand from companies. However, lending growth is likely to slow and margins are shrinking because of rising fund costs and intensifying competition. The kingdom’s six largest banks by assets are Saudi National Bank, Al Rajhi Bank, Riyad Bank, Saudi Awwal Bank, Banque […] June 3, 2025
Banking and Finance Kurdish authorities clamp down on crypto trading The semi-autonomous Kurdistan region in northern Iraq has launched a crackdown on cryptocurrency trading, following warnings by the Central Bank of Iraq. The Kurdistan Regional Government has formed an interior ministry committee to enforce the closure of crypto and foreign exchange companies, it said in a statement at the weekend. The committee, which can order […] June 2, 2025
Banking and Finance FAB shareholder seeks to raise $480m from secondary offering A shareholder of First Abu Dhabi Bank (FAB), the UAE’s biggest bank by assets, is offering around $480 million worth of shares via a secondary share sale, the bookrunner for the deal said on Friday. The selling shareholder, whose name was not disclosed, is offering around 113 million shares at a price of AED15.5 ($4.22) […] June 2, 2025
Banking and Finance How MNT-Halan became one of Egypt’s biggest lenders Egypt’s population is well over 100 million and, while famously entrepreneurial, is often unbanked or financially excluded. For investors, the loans market has long been seen as the Middle East’s financial holy grail – alluring, but ultimately unattainable. App-based lender MNT-Halan, though, may be the first to be able to say it has cracked the […] June 2, 2025
Banking and Finance EY tells Iraq to change public bank management teams Iraq is planning to change the management teams at its public banks in an attempt to improve their governance and reduce losses. The move is part of a comprehensive restructuring plan devised by the London-based consultancy firm EY which may involve mergers and the creation of a new larger state-owned bank. Iraqi prime minister Mohammed […] May 30, 2025
Banking and Finance Shuaa Capital sues former executives for $70m over losses Investment bank and asset manager Shuaa Capital has filed a lawsuit against former executive managers, seeking approximately $71 million (AED 260 million) in compensation for alleged misconduct that the company claims contributed to its financial losses. The legal action, disclosed in a filing to the Dubai Financial Market, is part of Dubai-based Shuaa’s broader efforts […] May 30, 2025
Analysis Banking and Finance UAE’s cashless drive stymied by the humble rent cheque The UAE wants to be an almost completely cashless economy but rent, which is one of the country’s largest personal expenses, remains locked in paper. That is providing an opportunity for regional financial technology companies to plug the gap between tenants who want to pay their rent digitally and monthly, and landlords who want the […] May 30, 2025
Video length: 03:49 VIDEO Banking and Finance Crypto crimes drop due to blockchain transparency Illicit activity in cryptocurrency transactions has plummeted as a result of investment in compliance levels across the digital asset industry. Binance, the world’s largest cryptocurrency exchange platform, says shadowy practices including money laundering have dropped from 0.6 percent to 0.15 percent. More traditional currencies, which are usually issued by governments, last year had a much […] May 29, 2025 In association with
Opinion Banking and Finance Saudi Arabia’s troubled Swiss banking connection Gulf anger simmers as Swiss and US bailouts burn sovereign billions May 29, 2025
Finance Mubadala’s $1bn sukuk order book oversubscribed five times Abu Dhabi sovereign wealth fund Mubadala has sold $1 billion in 10-year US dollar-denominated Islamic bonds, or sukuk, in its first debt sale of the year, news service IFR said on Wednesday. Acting through the Mamoura Diversified Global Holding debt vehicle, Mubadala priced the bonds at 60 basis points (bps) over US treasuries, narrower than […] May 29, 2025
Banking and Finance UAE firms approach Italy to buy UniCredit’s Russia business Three companies based in the UAE have approached the Italian Treasury with a proposal to buy the Russian operations of UniCredit at a steep discount, a document seen by Reuters showed. UniCredit is under pressure both from the European Central Bank and Italy’s government to quit Russia, where it runs a commercial lender. It has so […] May 28, 2025
Banking and Finance Turkey to guarantee loans to struggling manufacturers Turkey’s government has launched a loan guarantee scheme for small and medium-sized manufacturers, aiming to ease pressure on a sector hard hit by rising interest rates. Treasury and finance minister Mehmet Şimşek announced last week that almost $770 million of credit would be made available through the Credit Guarantee Fund (CGF), a scheme revived since […] May 27, 2025
Analysis Oil & Gas US investors ‘would be first in line for any Aramco asset sale’ Asset sales could allow Saudi Aramco to maintain its capital expenditure plans and keep its government shareholders happy with dividends, analysts have said. The national oil company is reportedly looking for investors to buy stakes in its subsidiaries and infrastructure, with a particular focus on its $100 billion Jafurah gas field project, according to a […] May 27, 2025
Banking and Finance Oman bank loans reach two-year high Omani bank loans rose to their highest in two years in March, raising speculation that local banks might borrow more from abroad as lending growth outpaces deposits. Figures released by the Central Bank of Oman (CBO) saw loans rise almost 9 percent year on year to OR33.4 billion ($87 billion) in March. Personal loans, which […] May 26, 2025
Banking and Finance Kuwait-listed banks explore potential merger Kuwait-listed Gulf Bank and Warba Bank have agreed to undertake a feasibility study and due diligence on a proposed merger. The two banks announced the decision in disclosure to the local stock exchange on Monday, following which their shares were suspended for one hour under the capital markets bylaws. The potential merger offers growth and […] May 26, 2025
Finance Saudi Arabia issues new sukuk worth $16bn Saudi Arabia has repaid SAR60 billion ($16 billion) worth of Islamic bonds, or sukuk, maturing over the next five years and simultaneously issued new sukuk of the same value. The initiative aims to bolster the domestic market and meet debt obligations, the National Debt Management Centre (NMDC), which manages the Saudi government’s debt obligations and […] May 26, 2025
Banking and Finance QIA approved to buy stake in leading Chinese asset manager Qatar’s $526 billion sovereign wealth fund has received approval to acquire a 10 percent stake in China Asset Management Co. It is a rare Gulf investment into one of the country’s largest mutual fund houses as Doha walks a diplomatic tightrope between Washington and Beijing. The green light from the China Securities Regulatory Commission was […] May 23, 2025
Banking and Finance Turkish bond attracts keen interest despite concerns Ankara’s second issue this year of dollar denominated eurobonds was heavily oversubscribed, attracting domestic and international investors, according to the Turkish ministry of treasury and finance. When the $2 billion bond, with a seven-year maturity, was issued on Wednesday the order book was oversubscribed two and a half times, with buyers drawn by the 7.25 […] May 23, 2025
Analysis Banking and Finance Fintech lenders go where banks fear to tread Financial technology companies in the Middle East like Egypt’s Money Fellows are increasingly stepping in to offer financing options to population groups and businesses that traditional banks ignore or cannot lend to. The share of loans given to small and medium-size enterprises (SMEs) in the Middle East and North Africa averages less than 8 percent […] May 23, 2025
