It appears that Dubai’s Jebel Ali Free Zone is discussing with banks how to repay its Dh7.5 billion ($2bn) Islamic bond until November, with most of the liability set to be given up by using a syndicated loan and a new sukuk. The banks that are taken i…
Dubai Islamic Bank cut its dividend by a third – to 10 % – after the Central Bank denied approval for its payout to shareholders. But according to Kashif Moosa, the bank’s head of investor relations, the regulator gave no reason why it had advised Duba…
Four banks were chosen by Majid Al Futtaim (MAF) Holding to manage its first Islamic bond issuance programme. The four banks are: Dubai Islamic Bank, Abu Dhabi Islamic Bank, HSBC and Standard Chartered.
The proceeds are anticipated to fund expansion pl…
It seems that Abdulla Al Hamli, Dubai Islamic Bank’s chief executive officer, resigned from the board of Gulf Finance House. Apparently he has decided to focus on his duties at Dubai Islamic.
Tamweel hired banks for a possible bond sale as it looking for financing to repay liabilities and increase lending. The shares presented a jumprecord in a month.
Citigroup, Standard Chartered and Dubai Islamic Bank will make appointments for investor m…
Fitch ratings decided to lift its outlook on Tamweel’s Sharia-compliant residential mortgage-backed securities (RMBSs). The reason is the good performance of underlying assets and the stabilisation of the Dubai property market.
Until this time, 334 of …
Dubai Islamic Bank has launched a brand new concept: the first exclusive Al Islami Private Banking branch. This offers greater convenience and a range of exclusive services for Al Islami Private Banking customers.
At the Al Maktoum Road branch, Private…
Dubai’s Department of Finance has developted a plan to raise $800 million. It wants to monetize road toll receipts. The aim is to fund infrastructure projects.
A six-year financing could support the Roads and Transport Authority’s infrastructure pr…
In the annual report of Dubai Islamic Bank there was stated that while UAE’s biggest Islamic lender tried to push mortgage financing in Dubai, the lender paid $102m in order to buy a controlling stake in Tamweel. This information was given by Bloomberg.
Dubai Islamic Banks lawyers stated in their closing arguments in court that the loan facilities, which allegedly led to a $500 million fraud, would not have been given had it not been for the approval of two Pakistani former bank executives on trial.
T…
