United Arab Bank

United Arab Bank signs USD100m Murabaha Syndication deal

United Arab Bank (UAB) has announced the completion of a 3-year syndicated Murabaha facility worth US$100m with four banks based in the UAE, Bahrain, and Kuwait. The Murabaha deal is the first Islamic syndication completed by UAB. Al Hilal Bank , headquartered in the UAE, served as the Mandated Lead Arranger and Bookrunner for the deal, while the Arab Banking Corporation, headquartered in Bahrain and Sharjah Islamic Bank, were the other Mandated Lead Arrangers. The National Bank of Kuwait also served as a Lead Arranger. The syndicated Murabaha facility which has been taken out for general corporate purposes, was almost twice oversubscribed.

Fly Home for Free with United Arab Bank’s offer

The UAB has launched a summer promotion on personal loans which runs until July 31. In the so-called 5-in-1 promotion, customers can make use of personal loans starting at a low rate while also enjoying free flights, free credit card, free travel insurance with no processing fees.
Customers receive up to 60,000 UAB Rewards points with the bank’s signature loyalty programme that can be redeemed against airline tickets.

Opening of new regional office in Abu Dhabi & shifting to new headquarters in Sharjah were high on agenda

Recently, United Arab Bank (UAB) held its year-end Board Meeting at the new regional office in Al Khalidiya, Abu Dhabi. Including its network of 20 branches across the UAE, the bank reported net profit of Dh298 million and operating profit of Dh382 million for the first nine months of 2012. The meeting was called to order by the founder and chairman of UAB - His Highness Sheikh Faisal bin Sultan Salem Al Qassimi. The purpose of the meeting was to discuss and review the performance in 2012 and the outlook for 2013. According to His Highness Sheikh Faisal, The opening of our new and up-market regional office in Al Khalidiya, Abu Dhabi will enable UAB to offer their discerning customers a superior banking experience.

United Arab Bank supports farmers of the UAE

United Arab Bank (UAB) has initiated an innovative business loan initiative to support the development of Agriculture in the UAE and Abu Dhabi Emirate in particular.
The facility has been designed in collaboration with Abu Dhabi Food Authority (ADFA) with an aim to support young farmers develop their businesses and promote agricultural production in the UAE in general and Al Ain in particular.

United Arab Bank supports 'Sailing Arabia'

Under the patronage of HH Sheikh Mohammed Bin Saud Al Qasimi, Crown Prince of the Emirate of Ras Al Khaimah, United Arab Bank (UAB) announced its co-sponsorship of 'Sailing Arabia-The Tour', the regional sailing event taking place across the Arabian peninsula, in line with the Bank's commitment to developing UAE youth and the local community.

ADIB leads Dh1.14b loan for MAF Group

Abu Dhabi Islamic Bank (ADIB) had arranged a syndicated Dh1.14 billion Islamic financing deal for the Majid Al Futtaim (MAF) Group.
ADIB acted as the initial mandated lead arranger, sole bookrunner, investment bank and security agent bank for the deal. Other banks that participated in the financing deal include Al Khaliji Commercial Bank as mandated lead arranger, Al Hilal Bank, First Gulf Bank and United Arab Bank as lead arrangers and Ajman Bank as arranger.

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