The Kingdom’s stock market is dominated by retail investors in terms of daily trading volumes.
The new trading-at-last session will start 20 seconds after 1355, allowing investors to place orders based on the already calculated closing prices of securities.
UAE banking sector revenues rose nearly 14 per cent last year but expansion shows signs of decelerating due to factors including oil price drop and a cooling of real estate markets.
The company aims to hold $5 billion in assets under management by 2018, CEO Karim El Solh said.
The banks said that it is working closely with the central bank in setting up a Higher Sharia Authority that would complement and oversee the work of individual sharia boards.
The bank did not expect to make any acquisitions this year, but said that it would at some later date as a number of foreign banks in the Middle East pulled out.
The money will be used to “meet general corporate requirements and certain projects currently being considered”, the company said.
Previously Gulf banks largely participated as junior partners in international syndicated loans but that picture is changing gradually.
The transaction, which requires approvals from the central banks of Kuwait and Egypt, stands to benefit both lenders.
Trading in Amlak was halted as credit markets dried up and the emirate’s real estate prices began a near-50 per cent tumble from their peak.
Amanat was set up to invest in education and healthcare businesses in the UAE and other Gulf states.
Last week, approval was issued for the sale of a 30 per cent stake in Arabian Contracting, with the offer set to run between June 10 and 16.
The financial freezone regulator said the bank was guilty of flouting anti-money laundering rules.
The bearish run of oil prices- a key driver of economic growth in the region- has largely affected the IPO activity.
The Dubai-based company has said that the IPO for EHG will be dependent on the right market conditions.
The company is investing in a new fund, which aims to address the funding gap for SMEs in the Middle East, North Africa and South Asia region.
The bank is looking to buy all or some of the shares of the insurance company at a price of Dhs3.64 a share.
The bank may auction the properties or offer them to be run by other operators, depending on market conditions, an official said.
DIB has mandated First Gulf Bank, HSBC, Maybank, National Bank of Abu Dhabi, Standard Chartered Bank and itself to arrange the meetings in Asia and Europe.
The loan was priced at 100 basis points over the London interbank offered rate, with the participation of nine institutions from the GCC.
The deal, rated A1 by Moody’s, has so far attracted orders totalling more than $3.5 billion from investors, a document showed.
Nizwa said in February that it saw the proposed merger as a way to speed up its growth.
It would be the first bond issue by ICBC through its DIFC branch, underlining the bank’s growing business in the Middle East.
Waha is looking to invest in sectors with high growth potential such as energy, infrastructure, healthcare and education.
Citigroup has experienced growth in credit card acquisitions in the UAE of 2.5 times over the past year, it said.
Arabian Contracting Services Co will offer investors 16.5 million shares representing 30 per cent of its capital.
The state-linked builder made a profit of Dhs618 million in the three months to March 31.
The Capital Market Authority launched an investigation into the firm in November after Mobily restated a year and a half of its earnings.
Up to 66 per cent of UAE professionals believe they earn less than what other firms in their industry offer, finds new survey by Bayt.
The regulator has asked the telecommunications operator to clarify information related to one of its businesses.