MANAMA: GFH Financial Group (GFH) announced the signing of an agreement with Bahrain Bourse (BHB) and the Central Bank of Bahrain (CBB), which will allow the group to offer the Murabaha service to its clients. The service, launched in May 2020, is provided through the utilization of Sharia’a-compliant Ijara Sukuk as the underlying asset for the undertaking…
Category: MENA
Corporate news and announcements from the stock markets of Middle East and North Africa.
Al Ramz appoints Amin El Kholy as Chief Executive Officer Asset Management
DUBAI: Al Ramz Corporation Investment and Development announced the appointment of Amin El Kholy as Chief Executive Officer of Asset Management. With over 25 years experience, Amin is a veteran asset manager with substantial accomplishments and proven track record in the financial industry and asset management, he has successfully established several asset management divisions. Prior…
Qatar First Bank offloads its stake in CMRC Limited for $31.5 million
DOHA: Qatar First Bank (QFB), the first independent Shari’ah compliant bank authorized by the QFC Regulatory Authority (QFCRA) and a listed entity on Qatar Stock Exchange (QSE: QFBQ), has announced its successful exit from CMRC Limited, one of its private equity investments in the Middle East. The Bank has announced the successful exit of its…
Ian Dench resigns as CEO of Ooredoo
DOHA: Ooredoo Q.P.S.C. announced that Ooredoo Oman has accepted Mr. Ian Dench’s resignation from his post as Chief Executive Officer, effective 30th June 2021. The appointment of the new Ooredoo Oman CEO will be announced in due course. Ooredoo QSC is an international telecommunications company headquartered in Doha, Qatar. Ooredoo provides mobile, wireless, wireline, and…
Dubai Islamic Insurance & Reinsurance proposes first payout after 11 years
DUBAI: The Board of Dubai Islamic Insurance & Reinsurance Company (Aman) has proposed AMAN’s first cash dividend distribution of 6% of net profit attributable to shareholders since 2011. The proposed dividend reflects the strong FY 2020 performance, which saw the initial benefits of the new three-year growth strategy coming through. Net profit attributable to shareholders…
Fiber optic infrastructure subscribers of Partner Fiber exceeds 150k
ROSH HA’AYIN: Partner Communications Company, a leading Israeli communications operator, announced the number of “Partner Fiber” fiber optic infrastructure subscribers exceeded 150 thousand. Partner’s infrastructure which is wholly owned by the Company and provides home browsing at speeds of up to 1,000 Mhz, was launched in August 2017, and in less than four years, is…
DP World and CDPQ’s sign agreement with Maspion Group for a container port and industrial logistics park in East Java
DUBAI: DP World alongside its partner Caisse de dépôt et placement du Québec (CDPQ) signed a 35 year concession agreement to partner with Indonesia’s leading conglomerate Maspion Group to develop and operate an integrated container port and industrial & logistics park in Gresik (Java), Indonesia. The Java region is the key trading hub and generates…
Telecom Egypt to launch a new subsea system circling the African continent
CAIRO: Telecom Egypt announced its plans to launch Hybrid African Ring Path (HARP) by 2023, a new subsea system that will outline the African continent, forming the shape of a harp. It will connect coastal and landlocked African countries to Europe through the company’s widespread terrestrial and subsea infrastructure. Through HARP, Telecom Egypt will offer…
Dubai Sustainable Finance Working Group launches two guides for sustainable issuance and investment
DUBAI: The Dubai Sustainable Finance Working Group has published two comprehensive guides as part of Dubai’s efforts to accelerate its leading position and expansion of Environmental, Social and Governance (ESG) and sustainable finance in the UAE and wider region. The guides inform issuers and investors about best practices in the rapidly expanding ESG sector and…
Al Moammar Information Systems and Abunayyan Holding to jointly develop green data centers in KSA
RIYADH: Al Moammar Information Systems (MIS) has signed a non-binding memorandum of understanding (MoU) with Abunayyan Holding Group to establish a joint venture company with the aim of exploring the feasibility of building and developing green data centers based on renewable energy in the Kingdom of Saudi Arabia (KSE). The MOU provides a general framework…
Aljazira Takaful enforces decision to merge Solidarity Saudi Takaful into Aljazira Takaful
RIYADH: Al Jazira Takaful Company announced the enforcement of the decision to merge Solidarity Saudi Arabia into Al Jazira Takaful Company and transfer all the assets and liabilities of Solidarity Saudi Company to Al Jazira Takaful Company. Al Jazira Takaful Company will issue 12.066 million ordinary shares with a nominal value of Ten Saudi riyals…
Vodafone Qatar unveils enhanced Giganet Network
DOHA, QATAR: Vodafone Qatar has launched a new cross-country campaign to showcase the improvements it has made to its GigaNet network. The campaign demonstrates that the Vodafone network is at its strongest, biggest and fastest point in the Company’s history, in order to better support both consumers and businesses. Since 2018, Vodafone Qatar has poured…