islamic finance

October 14, 2019

Islamic Arab Insurance Company (Salama), one of the UAE’s largest takaful companies, plans to raise the foreign ownership limit of its shares to the maximum permissible under UAE law of 49 per cent, the company said.

The Islamic insurer is also reducing paid up capital of Dh1.21 billion to write off accumulated losses of Dh394 million to allow it to start paying dividends again, according to a statement posted on Sunday on the Dubai Financial Market, where its shares trade.

“The paid-up capital of the company as well as the number of issued shares will"...

Continue Reading >

October 3, 2019

DUBAI, 2nd October, 2019 (WAM) -- Nasdaq Dubai has welcomed the listing of a US$500 million Sukuk and a $500 million conventional bond issued by global trade enabler DP World.

DP World is the largest UAE debt issuer by value on the region’s international exchange, with Sukuk and conventional bond listings now totalling $9.09 billion.

The organisation operates a geographically diverse network of trade enabling businesses including ports and terminals, industrial parks, logistics and economic zones, maritime services and marinas.


Continue Reading >