Ibdar was launched as a brand on Monday following the merger of Capivest, Elaf Bank and Capital Management House.
The bank did not disclose the actual terms of the offer.
The lender lost $39 million in a global pre-paid card fraud.
Shadi Sadeek Sanbar has worked with the firm for over eight years and is seen as a close aide of the Saudi billionaire.
The index climbed 1.6 per cent to finish at 2,946 points, its highest close since October 2008.
Dubai’s grand expenditure plans for Expo 2020 will add value to the emirate’s economy.
Employers would pay money earmarked for future retirements into a central system that would manage the money under Islamic principles.
The emirate’s bourse rose above the 3,000 point level for the first time since November 2008.
A successful Expo bid will boost Dubai’s economy but a risk of debts due to overspending looms.
The confidence in the UAE banking sector is quite strong, says Central Bank governor.
Dubai launched a major drive to develop its Islamic business sector in January this year.
The entertainment and hospitality firm could be valued at about $680-$690 million, sources said.
The consortium plans to launch the new lender in the fourth quarter of 2014.
The deal is scheduled to price on Tuesday so that trading can begin on Wednesday.
The case arose from one of Citigroup’s earlier efforts to shore up its capital base.
The deal is expected to be worth between 1 billion euros ($1.4 billion) and 1.5 billion, sources say.
Government spending next year is estimated to rise by 11 per cent year-on-year, with salaries and wages accounting for 37 per cent of the total.
Leaders from the Islamic finance world converged in Dubai for the Global Islamic Economy Summit.
The proceeds of the facility will be used to further grow and strengthen its core business, said OSN.
Matteo Stefanel was head of special situations group, managed accounts and real estate at Dubai-based Abraaj.
Farhad Irani, EVP and head of retail banking group at the UAE’s Mashreq, spoke to Gulf Business on Mashreq’s performance in 2013 and the state of the banking market.
Dubai expats’ housing allowance levels lag when compared to the sharp rise in rents and inflation.
The UAE and other GCC countries continue to have low taxation polices which has helped boost trade in turn.
The UAE is expected to spearhead digital banking in the GCC, which is being seen as low on digital banking readiness.
Most expatriates would prefer to invest a sudden windfall in property, finds survey.
Aleem Khan previously ran the structured trade finance business for StanChart MENA and Americas.
The developer will hold investor meetings in the UAE, Singapore, London, Hong Kong and Switzerland.
The exchange has said it hopes to resume trading as usual on Wednesday.
The loans would come on top of investments by Kuwaiti companies in a number of sectors.
Middle East accounts for the majority of thought leadership produced globally on emerging markets.