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Pakistan signed a $375 million syndicated loan with banks in the United Arab emirates in June made up of conventional and Islamic banking tranches, the Pakistani government said on Saturday.
The tranches were fully subscribed by a syndicate of leading UAE banks, the government statement said.
Emirates NBD Capital Limited was global coordinator. The transaction was anchored and arranged by Commercial Bank of Dubai, emirates NBD Bank, Noor Bank , Dubai Islamic Bank, Mashreqbank and Sharjah Islamic Bank.
The Central Bank of the UAE (CBUAE) is enhancing its reporting of Non-Performing Loans (NPL) for the UAE banking system to align its methodology with international best practices, in consultation with the International Monetary Fund.
The Asian Development Bank (ADB) approved $1 billion in immediate budget support to Pakistan to shore up the country’s public finances and help strengthen economy besides approving $300 million to support energy sector reforms.
The National Assembly’s Standing Committee on Finance has showed dissatisfaction over the FBR’s performance to bring people into the tax system out of total 152,000 bank account details received from the Organisation for Economic Cooperation
Public sector banks (PSBs) have returned to profitability in 2019-20, posting an aggregate profit of Rs3,221 crore in the first half ending September, Minister of State for Finance Anurag Singh Thakur said in the Parliament.
Dr. Matar Al-Neyadi, the Undersecretary of the UAE Ministry of Energy and Industry, inaugurated the Middle East Iron and Steel Conference 2019 which is being held in Dubai,
A high-tech facility at Khalifa Industrial Zone Abu Dhabi (Kizad) was launched on Tuesday, set out to provide a full suite of quality, conformity and HSE testing services for a wide ranges of sectors.