Business Blog

DUBAI, June 5 (Reuters) - Saudi Investment Bank 1030.SE (Saib) has completed a 2 billion riyal ($533.3 million) capital-boosting sukuk issue, it said on Thursday, the latest lender in the kingdom to offer such an instrument to enhance its reserves.The subordinated Islamic bond, which boosts Tier 2 supplementary capital, has a ten-year lifespan and includes an option for the bank to buy back the pa

Saudi Arabian retailer Fawaz Abdulaziz Alhokair Co 4240.SE has signed a 1 billion riyal ($266.6 million) Islamic loan maturing in March 2021, it said on Thursday, to help repay loans and fund expansion.The loan is repayable by semi-annual instalments starting 18 months from June 4, the date of agreement, a bourse statement said.

Saudi Arabian retailer Fawaz Abdulaziz Alhokair Co has signed a SAR 1 billion (USD 266.6 million) Islamic loan maturing in March 2021, it said on Thursday, to help repay loans and fund expansion.

Initial public offers of equity in Gulf states are set to boom, helped by lighter regulation and legal reforms, according to one of the region's top IPO lawyers.

Dubai Islamic Bank has completed the purchase of a 24.9% stake in Indonesia's Bank Panin Syariah from its parent firm, an executive at Bank Pan Indonesia was quoted as saying.

Aljazira Takaful Taawuni Company has announced that the company held its Extraordinary general assembly meeting in the Head Office in Jeddah on 03-06-2014 corresponding to 05-08-1435 at 16:30. All resolutions of the meeting are as follows:1-Approval of board membership policy, standards, and procedures 2-Approval of Audit Committee charter 3-Approval of Nomination and remuneration committee