The company also said that it’s on track to complete its sukuk refinancing in the second quarter of the year.
The investment bank plans to launch at least 30 Islamic funds over the next three years
The bank has given initial approval to a proposal by the country’s commercial banks on setting limits for residential mortgage loans.
Robust oil income and lower-than-expected public spending boosted the surplus.
The region’s biggest lenders reported single digit revenue and profit growth as well as a rise in loan loss provisions.
Qatar’s emir, Sheikh Hamad bin Khalifa Al-Thani, said his country will contribute $250 million to the fund.
Individual shareholders and investment funds holding minority stakes in NSGB will have to pay a 10 per cent tax on their gains.
Kerzner sold its stake in Dubai’s Atlantis resort to state-owned Istithmar World for $250 million.
The Dhs50 million facility was signed by Noor Islamic Bank and Commercial Bank of Dubai.
The Omani bank lost a court case in June 2011 against Oman International Bank, Ali Redha Trading and Muttrah Holding.
China holds the first and second biggest initial public offerings ever as Asian and U.S. companies go head-to-head.
The UAE’s GDP saw a rise of $4.2 billion thanks to a rise in electronic payments. Saudi Arabia’s GDP saw growth of $4.7 billion.
Meetings with fixed income investors are scheduled to conclude in London on Monday, having taken place in the United States last week.
The dollar-denominated deal aims to boost the bank’s supplementary capital.
A coalition of seven banks will back the dual-tranche, long-term loan, say sources.
In the Gulf region, the bank will focus on lending opportunities in Saudi Arabia and Qatar, says regional head.
Recent bond issues have seen heavy bids but perform poorly in the secondary market.
Growth in 2012 was up on 2011, far outperforming conventional banking assets’ growth of 8.1 per cent.
Shipments to the US from OPEC’s top producer had dipped earlier in the year.
The country could get a one-notch upgrade if it makes more progress tackling unemployment and diversifying the economy.
DEWA’s $1 billion Islamic bond issued in February drew very strong demand.
Despite attracting more than $2.5 billion of demand so far the size of the bond will not be increased.
The lender expects to obtain a credit rating in the coming two or three months.
The contracts include Dhs287 million worth of work awarded by Al Rajhi Bank to construct facilities in Riyadh.
Potential buyers Charterhouse, HgCapital and Pamplona were likely to submit bids 100 million euros under its price tag.
The five-year senior unsecured financing will replace the remaining $2 billion five-year tranche of an original $6 billion loan.
The value of the transaction is seen at around $460 million.
Veteran emerging markets investor Mark Mobius remains bullish on the Middle East region.
Government spending related to the World Cup will hit almost $115 billion between now and 2022, says new study.
Saudi Electric last tapped the international bond market in March 2012 with a $1.75 billion two-part Sukuk.