A merger between the two lenders will create the second-largest bank in Oman with assets of about $10 billion.
The conversion of all the bonds is estimated to lead to the creation of around 420 million shares.
The centre will work towards promoting Dubai as a centre of Islamic finance.
he US is the largest source of remittances, sending $123.3 billion in 2012, the Pew analysis of World Bank data shows.
Selected employees will receive salary hikes of between 30 to 100 per cent, the government has said.
Hisham Al Rayes had been acting CEO since March 2012.
The lender plans to boost its share capital to SAR4.76 billion to help support its growth and capital base.
The loan will act as a bridge financing until the company launches a sukuk issue in 2014.
The survey found that low-income earners saved two per cent more than the UAE’s general population.
Dubai’s benchmark index declined 1.6 per cent, paring the surge for the year to 93 per cent.
The lender, which recently bought a 74.2 per cent stake in Turkey’s Alternatifbank, is also open to further foreign acquisitions, says CEO.
The bank benefited this year from lower bad loan provisioning and the writing back of existing impairments.
The oil sector contributed about 45 per cent of output growth, thanks to higher crude prices on global markets.
Foreign companies in Kuwait pay a 15 per cent tax.
The Securities and Commodities Authority has circulated draft rules that treat sukuk and non-Shariah compliant debt separately.
A growing young population, increasing consumption and rising budget expenditure will create investment opportunities in the region.
The DFM General Index climbed 1.3 per cent to 3,199.88, the highest since October 2008.
MubasherTrade report forecasts low-to-mid-single digit economic growth rates in the Middle East in 2014.
The firm is also planning to launch an asset management and wealth management business next year.
The country ranks second in the Middle East in terms of both its ultra-high net worth population and overall wealth.
The sharia-compliant investor defaulted on a $100 million Islamic bond payment in 2009.
TVM Capital MENA chairman says overseas IPOs don’t work out in the long term.
Increased investor interest in the Middle East is indicative of the region’s recovery, EY said.
The IMF forecast in November Qatar’s oil GDP would grow just 0.4 per cent in 2013 and decline by 1.1 per cent next year.
The firm will focus on investing in high impact Middle East tech start-ups, say founders Paul Kenny and Arya Bolurfrushan.
Despite experiencing cyber attacks, the majority of Saudi Arabian consumers have not installed anti-virus software on their systems.
National Bank of Abu Dhabi plans to add around 900 jobs to its current headcount of 6,500 next year.
The country’s finance minister said that Qatar would focus on the local market.
The Swiss wealth manager will gain a foothold in Beirut and Manama and strengthen its existing presence in Dubai.
Dubai’s third quarter imports touched Dhs610 billion and have been instrumental in boosting the emirate’s trade.