Banks are still keen to support Abraaj but are worried about the outcome of an investigation into the firm’s alleged misuse of investor money
GFH said the deal would have a positive impact on its Q2 profit
One firm reviewing Abraaj’s operations is said to be discussing its findings with the Dubai Financial Services Authority
Naqvi in February passed the reins of the fund management arm to two new co-chief executives
The programme allows qualifying companies to test new concepts within Dubai International Financial Centre
S&P Dow Jones has been considering a Saudi upgrade for several years but decided against one last year
The bank appointed Saeed al-Ghamdi as chief executive in 2013
The merger is the first major banking tie-up in Saudi Arabia in almost 20 years
Dana’s shares jumped 3.9 per cent on Sunday after news of the deal
The three have been told to correct their activities or face legal action
The acquisition will include Global’s headquarters in Kuwait and its offices in the UAE, Saudi Arabia, Bahrain, Egypt, Jordan and Turkey
The news comes following reports last month that Mubadala pulled out of talks to buy Abraaj’s investment business
The transaction comes just days after the launch of an initiative by Saudi ِArabia’s central bank
The bank will debut its first products next year
GFH disclosed the plans last year as part of a strategy to participate in Saudi Arabia’s privatisation programme
ADX said it was the first sovereign bond to have a primary listing on a UAE and Gulf stock market
Regulators in Malaysia, Singapore, Indonesia and Thailand have also placed Financial.org on alert lists
FAB has made the kingdom one of its priorities for geographic expansion.
Banks are vying for a role in Saudi Aramco’s planned initial public offering and state privatisation plans
The clearing house still start full operations next year
The judge said it did not matter that Alibabacoin might eventually list its cryptocurrency on US exchanges
Co-CEO Mohammed Al-Shroogi is preparing to retire later this year
The emirate’s second-largest bank by assets made a net profit attributable to shareholders of Dhs1.21bn
Staff stand accused of withdrawing funds from dormant customer accounts
Dubai-based Abraaj is considering selling some or all of the unit following a row with four investors
GIB is owned by the six GCC governments
UAE Exchange is aiming to increase its share of the $575bn global remittance industry
Reversing the trend would shift the outlook for an economy which shrank last year for the first time in nearly a decade
Qatar issued $12bn of bonds last week
Emirates NBD is the latest foreign bank seeking to expand its presence in Saudi Arabia