Kuwait’s wealth Fund appoints new board of directors

The Kuwait Investment Authority (KIA), the Gulf state’s sovereign wealth fund, has appointed a new board of directors, reports citing the cabinet. The new board approved by cabinet is made of Khaled Ali Al-Fadil, Sheikh Mishaal Jaber Al-Ahmad, Fahd Muhammad Read more

Former Saudi ministry to head Islamic Development Bank

The Islamic Development Bank (IsDB) Sunday announced the appointment of the Saudi former Economy and Planning minister, Sulaiman Al-Jasser, as the new president of the financial institution. Al Jasser, according to a statement of the bank, has been approved by Read more

Qatar sovereign wealth Fund eyes investment opportunities in Asia

Qatar Investment Authority (QIA), the country’s sovereign wealth Fund, has launched a wholly-owned advisory subsidiary in Singapore to source investment opportunities in Asia, Zawya reports citing a source from the Fund. The subsidiary, Qatar Investment Authority Advisory (Singapore) Pte Ltd, Read more

Commercial Bank of Qatar scraps offer to acquire majority stake in National Bank of Oman

Commercial Bank of Qatar has given up on plans to raise stakes in National Bank of Oman (NBO) to controlling shares after investors pushed back against what would have been a rare cross-border tie-up in the Gulf, Bloomberg reports. Commercial Read more

World Bank loans Egypt $400m to roll out social health insurance system

The Egyptian parliament has approved the World Bank’s $400-million credit line to support the Arab Republic’s comprehensive social health insurance system expected to provide a higher quality of medical services, reports say. The Health Affairs Committee of the House of Read more

Qatar’s Commercial Bank seeks to take control of National Bank of Oman

Qatar’s private lender, Commercial Bank (COMB.QA), Thursday said it offered to buy an additional 15.2% stake in National Bank of Oman (NBOB.OM) for $128 million, Reuters reports. If the offer comes into fruition, the bank will become the largest shareholder Read more