Former managing partner Mustafa Abdel-Wadood was arrested in New York in April and released on bail
The Sukuk was oversubscribed by 10 times, receiving orders of $4.8bn
The combined entity will remain listed on the Dubai stock exchange
The Kuwaiti market has outperformed markets in the Middle East this year in anticipation of the MSCI move
Philippe Ghanem will be leaving the firm shortly to pursue new opportunities
Saudi’s index fell 0.8 per cent with nearly all its banks slipping
The bank will use a new anti-money laundering reporting platform starting from the end of June to identify illicit transactions
SIB had total assets of Dhs44.7bn as of the end of last year
Banks can build more robust anti-money laundering and sanctions compliance frameworks through the effective use of technology
The licence of Rasan Capital Limited has been suspended for 12 months
The move came after a Qatari regulator earlier this month placed more business restrictions on First Abu Dhabi Bank
Investors will be exempt from custom duties on building materials, tools and equipment needed to build tourism projects
Saudi Arabia’s crowded insurance sector is ripe for consolidation
The merger between Alawwal bank and Saudi British Bank has been completed
The kingdom is considering issuing its first euro-denominated bonds this year
Former CEO Khaled Sifri resigned from his role in May
Penalties have also been introduced to ensure adherence to basic conditions of employment, visa and residency sponsorship
The firm is looking at potentially issuing US dollar-denominated sukuk
Abu Dhabi Investment Authority bought a 25 per cent stake in 330 Madison Avenue from Vornado Realty Trust
The new law is hoped to facilitate a more “efficient and effective” bankruptcy restructuring regime
The Saudi index has gained over 13 per cent year-to-date, outperforming other major Gulf peers
The senior management shake up comes as Waha is coping with changes and challenging market conditions
The deal is expected to create “one of the largest Islamic banks in the world” with combined assets of nearly Dhs275bn
The loan has tranches with three- and five-year maturities and a $200m greenshoe option
Michael Raynes was appointed to lead the company in late March 2018
The deal marks Investcorp’s largest US real estate portfolio acquired in the past decade
The sultanate expects the selective tax to generate around OMR100m a year
The efficacy of the June 25-26 meeting in Bahrain has been in doubt
Mumtalakat’s revenue totalled $5.5bn in 2018, up 38 per cent over the previous year
Naqvi was released after paying the 15m pound conditional bail – the largest ever ordered by a court in the UK