Dubai Islamic Bank (DIB)

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News

16 October 2014 10:57 AM flydubai to make Sukuk issuance in 2014

Dubai Aviation Corporation, flydubai for economic travel, has announced assigning Credit Agricole, Dubai Islamic Bank (DIB), Emirates NBD, HSBC, the National Bank of Abu Dhabi (NBAD), Noor Bank and Standard Chartered Bank to arrange a …

Company News

15 October 2014 09:45 AM EFG Hermes makes ‘buy’, ‘keep’ recommendations for UAE banks

EFG Hermes said it expects a growth in shareholders’ equity in banks in the United Arab Emirates by around 18% during 2014 and by up to 21% by the end of 2016, the Company announced in a statement, adding that the improvement in …

Banking and Finance

25 September 2014 02:46 PM DFM welcomes Marka, ends 0.2% down

The Dubai Financial Market (DFM) ended Thursday in the red for the second successive session and witnessed the first session of trading for fashion apparel retailer Marka. The market saw profit-taking amid selling pressures in the …

Trading Activities

24 September 2014 00:43 PM Emirates NBD only gainer in banking sector amid DFM falling wave

Emirates NBD recorded the only gains, mid-trade, after successfully standing strong to the wave of declines currently overcoming the Dubai Financial Market (DFM). The share recorded a 0.52% gain, an hour before the end of …

Company News

23 September 2014 04:04 PM DFM rallies on banking sector gains

The Dubai Financial Market (DFM) ended Tuesday in the green for the second successive session, adding 33.10 pts or 0.65% and closing at 5127.92 pts, passing the 5100-pt level once more.Turnover saw a significant increase today as …

Trading Activities

22 September 2014 08:57 AM Five UAE banks among MEED’s top 20 Islamic banks

MEED’s list of the largest 20 Islamic banks in terms of assets in the Gulf Cooperation Council (GCC) included five banks from the UAE, till June 14, 2014.In its report, MEED noted that Dubai is an ambitious emirate, which seeks to …

Sukuk and Islamic Finance

22 September 2014 08:15 AM S&P to upgrade UAE, Qatar indices today

Standard and Poor’s had announced in a statement that it will reclassify Greece’s rating from advanced market to emerging market, whereas it will upgrade both the UAE and Qatar from frontier markets to emerging markets. …

Research

14 September 2014 10:07 AM Empower, DIB sign $127.8 mln financing facility

Empower, the world’s largest district cooling services provider, has secured a US$127.8 million financing from Dubai Islamic Bank (DIB), marking the first Islamic financing facility availed by the company.“The agreement between …

Company News

5 September 2014 10:20 AM Fitch affirms ratings of eight UAE banks, upgrades Al Hilal

Fitch has upgraded Al Hilal Bank and affirmed eight other banks and one non-bank financial institution rating, according to Emirates 24/7.The international rating agency said it had upgraded Al Hilal Bank's (AHB) Viability Rating (VR) and …

Ratings

3 September 2014 03:34 PM DIB excludes majority stake in Indonesian Bank

The UAE’s Dubai Islamic Bank (DIB) has stated that it has ruled out the possibility of seeking a majority stake in Indonesia’s Panin Syariah, news agency Reuters reported, quoting DIB’s CEO as saying, adding that DIB has said that its …

Banking and Finance

2 September 2014 07:56 AM DIB foreign ownership rises to 10%

Non-Arab foreign ownership in Dubai Islamic Bank’s (DIB) shares has exceeded 10% for the first time since raising foreign ownership to 25% in April. Foreign ownership now amounts to 10.13% of DIB’s stocks.

Corporate Actions

28 August 2014 04:01 PM Dubai shares halt rally, as investors book gains

Shares on the Dubai made its first loss in nine sessions, smacked by a profit-taking streak on blue-chips stocks. The Dubai benchmark stock index, DMGI, lost 1.16% to 4928.22 points. “Arabtec and Emaar …

Trading Activities

27 August 2014 03:57 PM Dubai shares gain, as Arabtec extends rally

Stocks in Dubai Financial Market maintained rally on Wednesday, buoyed by shares in Arabtec, amid speculations on Ismaik is near to make a deal with Aabar to sell his stake in the company. The Dubai benchmark …

Trading Activities

20 August 2014 10:43 AM Nakheel pays creditors AED 5.5 bln tomorrow, ends restructure file

Construction giant Nakheel will begin transferring a sum amounting to AED 5.5 billion to its creditor banks tomorrow so that its new Board of Directors, which was appointed four years ago, will have achieved one of the …

Company News

20 August 2014 07:40 AM UAE national banks’ deposits grow 8% in H1

National banks in the UAE have increased the volume of their deposits by AED 87 billion during the first six months of 2014, thus amounting to a total of AED 1210.4 billion in June 2014, compared to AED 1123.6 billion by …

Banking and Finance

14 August 2014 11:57 AM DIFC Investments plans new Sukuk issuance

DIFC Investments, the investment arm of the company running Dubai's financial free zone, said it is planning a Sukuk issuance, reported Gulf Business, adding that the company has appointed banks and could come to market as early as …

Company News

13 August 2014 10:21 AM Emirates agrees $425 mln loan from 3 UAE banks for A380 jets

Dubai’s Emirates Airline has agreed a $425 million loan from a group of banks to fund the acquisition of two Airbus superjumbos, Arab News reported, quoting one of the lenders as saying.Abu Dhabi Islamic Bank (ADIB), Commercial Bank …

Banking and Finance

12 August 2014 08:26 AM UAE, Qatari banks lead overseas expansion

Gulf banks are quickly replacing European lenders in expansion within the Middle East region as well as within some of the fast growing emerging markets in Asia and Africa as part of their frameworks to improve the health of their …

Company News

12 August 2014 08:07 AM SHUAA recommends ‘buy’ for 5 UAE bank shares

Based on banks’ Q2-14 results and increasing net income, SHUAA Capital has given the recommendation “buy” for the shares of five UAE banks, namely: First Gulf Bank (FGB) at AED 20.35, Union National Bank (UNB) at AED 8.25, Dubai …

Company News

11 August 2014 08:04 AM Emicool, DIB sign AED 900 mln refinancing deal

Emirates District Cooling Company LLC (Emicool), the region’s leading cooling service provider, has announced signing a 12-year refinancing agreement worth AED 900 million ($245 million) with Dubai Islamic Bank (DIB), the largest …

Banking and Finance

10 August 2014 00:36 PM UAE bank funding hits AED 41 bln in H1-14

Total loans and funds from local UAE banks registered a four percent growth to AED 1085.6 billion by the end of June 2014, compared to AED 1045 billion during the same period last year. Accordingly, banks have pumped an additional AED …

General News

5 August 2014 08:28 AM UAE’s DIB signs AED 360 mln funding deal with UPP

Dubai Islamic Bank (DIB) has announced signing an agreement to provide Union Properties (UPP) with AED 360 million as a refinancing facility. Reputable companies such as UPP are in an advantaged position that allows them to benefit …

Banking and Finance