-
Investor Relations
- Corporate Governance
- Investor Presentations
- LIBOR Transition
- Compliance and AML
- Sustainability
- Financial Information
- Shareholders Toolkit
- FAQs
- Investors’ Queries
-
-
Accounts
- Al Hayrat Account
- Current Account
- Fixed Deposits Account
- Money Maker Account
- Salary Transfer Account
- Starmaker Account
- Super Saver Account
Al Wajaha
- Overview
BBK Lite
- Overview
NRI
- NRI Services
Debit Cards
- Classic
- Gold
- Signature
- Infinite
Self-service Banking
- ATM
- Deposit Machines
- Interactive Teller Machines
- Bank Certificates Issuance Machines
- Debit Card Issuance Machines
Foreign Exchange
- Remittance
- American Express
-
Insurance
- Home Secura
- Motor Secura
- Travel Secura
Investment
- Bonds
- IPO
- Mutual Funds
- Real Estate Investment
-
Branches and Self-Service
- Branches
- ATM
- Deposit Machines
- Debit Card Issuance Machines
- Corporate Deposit Machines
- Interactive Teller Machines
- Bank Certificates Issuance Machines
- BBK Virtual
Contactless Payments
- Apple Pay
- Samsung Wallet
- Garmin Pay
- Fitbit Pay
More Ways to Bank
- New Mobile app & Online Banking
- eStatements
- BBK BanKey
- Corporate Deposit Card
- Debit Card
- Telebanking
- Open Banking
- AFAQ Payment System
Sign Language
- Sign Language Directory
-
-
-
Accounts
- Business Current Account
- Business Fixed Deposit Account
Cash Management
- Bankey eBanking
- Payroll Services
- Deposit Machines
- POS Credimax
- Remittance
-
Working Capital Finance
- Overdraft
- Cheque discounting
- Short Term Loans
Long Term Finance
- Project Finance
- Assets Finance
- Real estate Finance
-
Corporate Banking
- Government Affairs
- Real Estate, Services and Trading
- Contracting, Building Material, and Manufacturing
International Banking
- Overview
- Services
- NRI
- Offshore Branches
- Representative offices
Enterprise Banking
- Overview
-
-
-
-
FINANCIAL NEWS
Nakheel secures creditors agreement for $1.63b claims
14 May 2010
(MENAFN) Property developer Nakheel announced in a statement that it has received 50 percent approval from its creditors as part of Dubai World’s $24.8 billion restructuring proposal, Reuters reported.
Nakheel offered its trade creditors full repayment through a mix of 40 percent cash and 60 percent in a sukuk, with a 10 percent annual return. Nakheel should secure 65 percent approval in order to release the cash to creditors, which include contractors and suppliers.
Nakheel said in the statement that it is getting very close to reaching the needed agreement for a 40 percent cash payment to its creditors.
The property firm, which is a unit of state-owned conglomerate Dubai World, said that it has secured agreements with claims worth nearly $1.63 billion.
In the meantime, funds to repay Dubai World property unit Nakheel’s $980 million Islamic bond are with the paying agent who will distribute them to sukuk holders, according to Dubai government spokeswoman.
More News
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more