(MENAFN - Khaleej Times) Abu Dhabi Islamic Bank (ADIB), a top-tier Islamic financial services group, today announced that it had signed an agreement to provide $ 50 Million Dh 183.5 million) Islamic finance facility to Gulf Marine Services WLL, to fund the acquisition of the continued growth of the company. The Ijara (lease to own) facility, will have a tenure of five years.
“We value our partnership with Gulf Marine Services highly as they are a market leader in the Offshore and Oil Services industry in the region. We plan to build on this agreement and provide them with other long term financing options to help in their expansion. We hope to customize our other products and services to their requirements and strengthen this relationship,” said Tirad Mahmoud, CEO of ADIB.
The agreement was signed at ADIB offices by Duncan Anderson, Chief Executive Officer of GMS and Nuhad Saliba, General Manager, Head of Corporate Banking for private and public organisations. �"business@khaleejtimes.com
BankDhofar net profit surges 24.8%
MUSCAT �" Oman’s BankDhofar on Tuesday reported a net profit of RO17.74 million for the first half of the year, compared to RO14.21 million in the corresponding period of 2009, up 24.8 per cent.
Total assets grew from RO1,408.2 million to RO 1,518.4 million, and customer deposits from RO989.2 million to RO1,138.1 million, the highest ever. Net interest income increased to RO28.04 million from RO23.30 million, a rise of 20.34 per cent. “BankDhofar managed to sustain continuous solid results this year as well due to a prudent business strategy,” Abdul Hafidh Salim Al Aujaili, Chairman of the bank, said, adding: “We have also received the coveted leadership position in Oman by several prestigious rankings this year like Oman Economic Review-Gulf Baader, Business Today, EUROMONEY, and The Banker magazine Top 1000 banks worldwide.” [More]
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