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FINANCIAL NEWS
Dubai’s Meydan raises USD 272mn for Islamic financing
13 Jun 2016
(MENAFN) Dubai based-Meydan Group has raised USD 272mn of Islamic financing, while emirate is pushing ahead with big development plans despite local economic decline.
Furthermore, the group proclaimed that it had raised a USD 190.57mn via an issue of Islamic bonds and USD 81.67mn from a term financing facility.
Additionally, the money will support to enhance the Group’s capital structure, spread its investor base and help new projects.
However, low oil prices are slowing economic growth in the Gulf and tightening banking system liquidity, while the UAE’s interbank rate grew at almost 70 basis points.
More News
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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