The company said the shareholders approved the allocation at a meeting on Thursday.
The loan will be for 17 years and will be repaid in twice yearly instalments after a five-year grace period, Maaden said in a bourse statement.
The Dubai Financial Market’s new rules are part of broader efforts to develop Islamic business in the emirate.
Dubai’s ICD has agreed to buy about 46 per cent of Kerzner International, sources say.
Around 85 per cent of shareholders had approved the lender’s new move, the bank’s chairman said.
Output growth slowed to 60.0 points while new orders growth slowed to 65.8 points, a new survey shows.
The conglomerate ran into trouble after Dubai’s 2009 property market crash and had to restructure $25 billion of debt.
A sudanese official declined to disclose the total value of aid that Qatar had agreed to offer Sudan.
The NASDAQ Dubai bourse now hopes to grab some of that business with its own murabaha trading system.
The size of the issue was expanded to $650 million from the originally planned $500 million.
Debt holders tendered $136.1 million of bonds and Batelco agreed to buy back $131.4 million of them, a statement said.
The move comes as part of a broader push to revamp Bahrain’s efforts in Islamic finance.
UAE Exchange estimates that robust economic growth in the UAE will lead to a hike in remittances from the region in 2014.
The states will use their Wessal Capital joint venture to make the investment.
Aggregate funded credit exposures to non-resident borrowers other than banks are capped at 20 per cent of the bank’s local net worth.
The sukuk is expected to launch and price on Wednesday.
The company reported that its EBITDA grew 11 per cent to reach Dhs3.3 billion in 2013.
The government said it planned to float 15 per cent of the bank on the stock exchange later this year in an initial public offer.
The company has invited more than 70 financial institutions to a meeting in Dubai to propose “a comprehensive settlement” with creditors.
The Abu Dhabi-listed bank received investment grade ratings from Moody’s and Standard & Poor’s.
A sharp slowdown in major emerging economies will affect GCC countries through falling oil market prices, a report says.
The proceeds will be used for Damac’s general corporate purposes.
Long joins from HSBC Bank Egypt and replaces Ewan Stirling.
Dubai World would be able to meet a $4.4 billion loan maturity in May 2015 and to make some other repayments early, a senior official said.
Bahrain has weathered the most recent bout of volatility in global financial markets, the IMF said last week.
The 2009 collapse of Algosaibi’s Bahrain unit, The International Banking Corp, and Awal Bank, owned by Saad Group, left an estimated $22 billion bank debt.
The Islamic lender plans to expand its retail and wholesale banking business locally and internationally over the next five years.
The increase, which may happen this year, could be “pure capital” or perpetual bonds or both, its chief executive said.
The facility replaces the previous $505 million facility secured in 2011.
Executives from 13 companies listed on the DFM and NASDAQ Dubai will meet investors on April 28 and 29 in London.