Latest news with #ArabBank
Al Bawaba
3 days ago
- Business
- Al Bawaba
البنك العربي يطلق حملة ترويجية خاصة بالقروض السكنية
Arab Bank headquartered in Amman, Jordan has one of the largest global Arab banking networks with over 600 branches spanning five continents. Arab Bank provides a wide range of financial products and services for individuals, corporations and other financial institutions. The Bank's products and services cover Consumer Banking, Corporate and Institutional Banking and Treasury services. Arab Bank's extensive network covers key financial markets and centers such as London, Dubai, Singapore, Geneva, Paris, Frankfurt, Sydney and Bahrain. Arab Bank has the following sister company, subsidiaries and affiliates companies:
News24
5 days ago
- Business
- News24
SA candidate may become first woman to run African Development Bank
• For more financial news, go to the News24 Business front page. The African Development Bank, the continent's largest home-grown multilateral lender, will elect its new leader on Thursday. Five candidates are vying for the job as the institution confronts multiple challenges, including aid cuts to Africa, the withdrawal of support by US President Donald Trump and the fallout from his trade war. A rare source of long-term finance in the region, on projects that the private sector often view as too risky, the AfDB's performance and the success of its leadership is critical to Africa's future. The president of the bank, which was founded in 1964 to promote regional development, will be elected by its 81 member states to a five-year term, which can be renewed once. The winner needs to secure at least 50% of the total votes of the African member countries and 50% of the votes of all member countries. A nation's vote is based on its share of AfDB's capital. Here's a quick snapshot of the candidates: Sidi Ould Tah Mauritania's Sidi Ould Tah, who recently stepped down as the president of the Arab Bank for Economic Development in Africa, enters the AfDB presidential race flourishing his connections to oil-rich Middle Eastern nations, which he would use to broaden the bank's funding sources at a vital moment. Earlier this month, Trump proposed a $555 million funding cut to the African Development Fund, the bank's lending arm for low-income countries. Other Western countries are pulling back on development aid to meet domestic needs, including to boost spending on defense. 'We're not really tapping all the potential of this region, which has excess of liquidity and also has many development finance institutions which are providing very low cost financing,' Tah, a former finance minister of his country, said in an interview. Amadou Hott Senegal's Amadou Hott advocates for self help to finance AfDB's operations. Africa's wealthy individuals hold about $2.5 trillion in assets, with another $2 trillion managed by pension funds, sovereign wealth funds and insurers, said Hott, who stepped down last year as special envoy to the AfDB president responsible for the Alliance for Green Infrastructure in Africa. 'The real breakthrough will come when we unlock our own $4.5 trillion in domestic savings and investment capacity,' he said. Hott also backs setting up an African rating company, which is set to launch later this year, that he says can help regional sovereign borrow on cheaper terms. Abbas Mahamat Tolli Chad's Abbas Mahamat Tolli wants to prioritize investment in critical infrastructure, increasing regional members' resilience to climate change and improving food security. He says the private sector must be mobilized to help fill an infrastructure funding gap the AfDB estimates at $150 billion to build the roads, railways, energy and education institutions Africa needs to ease poverty and spur development. 'The traditional resources of multilateral institutions will not be sufficient to initiate this massive volume of investment,' Tolli told the Chadian news site Tchadinfos. 'We must find ways and means to also interest the private sector in mobilizing more financing.' Tolli served as governor of the regional Bank of Central African States from 2017 until last year. Swazi Tshabalala South Africa's Swazi Tshabalala says the AfDB must be more 'selective in its focus.' READ | Bajabulile Swazi Tshabalala eyes African Development Bank presidency Tshabalala, who served as the bank's vice president from 2020 until October, when she stood down to run for president, says job number one is tackling Africa's infrastructure gap. 'Unless we address that, nothing else is possible,' she said in an interview. She would fast-track infrastructure projects and seek financial support from the private sector and the AfDB's non-regional members including Japan, South Korea, Saudi Arabia, the UK and Germany. If elected, Tshabalala will be the first woman to run the AfDB in its history. Samuel Maimbo Zambia's Samuel Maimbo has the backing of two regional blocs – the Southern African Development Community, and the Common Market for Eastern and Southern Africa. He's a vice president at the World Bank, where he oversaw the record $93 billion fundraising for the world's poorest countries that closed in 2021. Maimbo was also chief of staff to World Bank presidents David Malpass and Ajay Banga. He plans to engage the US to preserve its support for the AfDB, calling Trump's recommendation to cut its funding a 'wake-up call.' The US is the third-biggest contributor to the fund after the UK and Germany and a funding cut would have 'a huge impact on Africa's development,' Maimbo said in an interview. If elected, Maimbo would start by overseeing the AfDB's latest replenishment, in which it aims to raise a record $25 billion. He would also direct financial support toward sectors that will create jobs for Africa's young population, including the local film industry.
Zawya
22-05-2025
- Business
- Zawya
Royal Jordanian Airline signs $250mln syndicated loan agreement led by Arab Bank
AMMAN — Royal Jordanian Airline (RJ) announced on Wednesday the signing of a $ 250 million syndicated loan agreement, led by Arab Bank and several Jordanian and regional financial institutions. This step underscores the solid confidence the banking sector places in the airline, according to a statement by the Arab Bank. During the signing ceremony, RJ Chairman of the Board of Directors Said Darwazeh stressed the airline's deep roots. "Royal Jordanian has a long-standing legacy as the national carrier and has, since its establishment, served as a key pillar in connecting Jordan to the world and reinforcing its role as a regional hub," Darwazeh added. He noted that "despite various challenges globally and in the region, the airline continued its operations with resilience and determination, fulfilling its national mission and significantly contributing to Jordan's economy, especially in tourism and transport." Darwazeh highlighted the agreement as "a strategic milestone that underscores the strong relationship between Royal Jordanian and the banking sector," adding that it "reflects the confidence that local and regional financial institutions have in the company's long-term vision." Darwazeh said: "We greatly value the role played by Arab Bank and all participating banks in facilitating this banking arrangement. We look forward to continued constructive collaboration that supports the company's objectives and contributes positively to the national economy." RJ Vice Chairman and CEO Samer Majali said: "As part of our recently launched growth and expansion strategy, Royal Jordanian is focused on modernising its fleet, expanding its route network, investing in our growth ambitions especially in aviation support ventures, digital transformation and advanced technologies, in addition to settling the remaining balance of the existing loan". "Fleet modernisation is a cornerstone of our commitment to sustainability, as modern aircraft play a crucial role in reducing fuel consumption and carbon emissions, aligning with our environmental responsibility and long-term aspirations,' he added. Majali also expressed pride in the financial sector's backing: "We take great pride in the trust shown by Jordanian and regional banks that chose to participate in this financing. Their confidence affirms the airline's strong credit profile and financial stability.' He voiced RJ's full commitment to repaying the previous syndicated loan on schedule, even under the most challenging conditions during the COVID-19 pandemic, played a key role in reinforcing this trust and encouraging broader participation from financial institutions. CEO of Arab Bank Randa Sadik said that this $ 250 million financing agreement demonstrates Arab Bank's and the participating banks' belief in Jordan's national carrier's capacity to execute ambitious future expansion and development plans, reinforcing its position within the aviation sector. "The agreement also underscores the strong confidence Royal Jordanian enjoys among local and regional financial institutions." She added that this financing contributes to supporting the national economy and reinforcing Jordan's standing regionally and internationally. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Al Bawaba
22-05-2025
- Business
- Al Bawaba
Royal Jordanian Signs $250 Million Syndicated Loan Agreement led by Arab Bank
Royal Jordanian signed today a syndicated loan agreement valued at USD 250 million, led by Arab Bank with the participation of several Jordanian and regional banks. This step underscores the solid confidence the banking sector places in the airline. In his opening remarks at the signing ceremony, Royal Jordanian's Chairman of the Board of Directors Said Darwazeh said that Royal Jordanian has a long-standing legacy as the national carrier and has, since its establishment, served as a key pillar in connecting Jordan to the world and reinforcing its role as a regional hub. Despite the various challenges in the world and in the region in particular, the airline continued its operations with resilience and determination, carrying out its national mission and contributing significantly to Jordan's economy, particularly in the tourism and transport sectors. He added that this agreement marks a strategic milestone that underscores the strong relationship between Royal Jordanian and the banking sector. It also reflects the confidence that local and regional financial institutions have in the company's long-term vision. 'We see this partnership as a vital enabler of Royal Jordanian's transformation and modernization efforts, reinforcing its regional and global competitiveness.' 'We greatly value the role played by Arab Bank and all participating banks in facilitating this banking arrangement. We look forward to continued constructive collaboration that supports the company's objectives and contributes positively to the national economy,' Darwazeh said. Commenting on the occasion, Vice Chairman of the Board and Chief Executive Officer of Royal Jordanian Samer Majali said: 'As part of our recently launched growth and expansion strategy, Royal Jordanian is focused on modernizing its fleet, expanding its route network, investing in our growth ambitions especially in aviation support ventures, digital transformation and advanced technologies, in addition to settling the remaining balance of the existing loan; this strategic direction requires reliable financial support. Fleet modernization is a cornerstone of our commitment to sustainability, as modern aircraft play a crucial role in reducing fuel consumption and carbon emissions, aligning with our environmental responsibility and long-term aspirations. 'We take great pride in the trust shown by Jordanian and regional banks that chose to participate in this financing. Their confidence affirms the airline's strong credit profile and financial stability. Our full commitment to repaying the previous syndicated loan on schedule even under the most challenging conditions during the COVID 19 pandemic played a key role in reinforcing this trust and encouraging broader participation from financial institutions,' Majali commented. Randa Sadik, Chief Executive Officer, Arab Bank commented: 'This USD 250 million financing agreement demonstrates Arab Bank's and the participating banks' belief in Jordan's national carrier's capacity to execute ambitious future expansion and development plans, reinforcing its position within the aviation sector. The agreement also underscores the strong confidence Royal Jordanian enjoys among local and regional financial institutions.' This financing, Sadik added, directly contributes to supporting the national economy and reinforcing Jordan's standing regionally and internationally.
Jordan Times
21-05-2025
- Business
- Jordan Times
RJ signs $250m syndicated loan agreement led by Arab Bank
Royal Jordanian announces on Wednesday the signing of a $250 million syndicated loan agreement, led by Arab Bank and several Jordanian and regional financial institutions (Petra photo) AMMAN — Royal Jordanian Airline (RJ) announced on Wednesday the signing of a $250 million syndicated loan agreement, led by Arab Bank and several Jordanian and regional financial institutions. This step underscores the solid confidence the banking sector places in the airline, according to a statement by the Arab Bank. During the signing ceremony, RJ Chairman of the Board of Directors Said Darwazeh stressed the airline's deep roots. "Royal Jordanian has a long-standing legacy as the national carrier and has, since its establishment, served as a key pillar in connecting Jordan to the world and reinforcing its role as a regional hub," Darwazeh added. He noted that "despite various challenges globally and in the region, the airline continued its operations with resilience and determination, fulfilling its national mission and significantly contributing to Jordan's economy, especially in tourism and transport." Darwazeh highlighted the agreement as "a strategic milestone that underscores the strong relationship between Royal Jordanian and the banking sector," adding that it "reflects the confidence that local and regional financial institutions have in the company's long-term vision." Darwazeh said: "We greatly value the role played by Arab Bank and all participating banks in facilitating this banking arrangement. We look forward to continued constructive collaboration that supports the company's objectives and contributes positively to the national economy." RJ Vice Chairman and CEO Samer Majali said: "As part of our recently launched growth and expansion strategy, Royal Jordanian is focused on modernising its fleet, expanding its route network, investing in our growth ambitions especially in aviation support ventures, digital transformation and advanced technologies, in addition to settling the remaining balance of the existing loan". "Fleet modernisation is a cornerstone of our commitment to sustainability, as modern aircraft play a crucial role in reducing fuel consumption and carbon emissions, aligning with our environmental responsibility and long-term aspirations,' he added. Majali also expressed pride in the financial sector's backing: "We take great pride in the trust shown by Jordanian and regional banks that chose to participate in this financing. Their confidence affirms the airline's strong credit profile and financial stability.' He voiced RJ's full commitment to repaying the previous syndicated loan on schedule, even under the most challenging conditions during the COVID-19 pandemic, played a key role in reinforcing this trust and encouraging broader participation from financial institutions. CEO of Arab Bank Randa Sadik said that this $250 million financing agreement demonstrates Arab Bank's and the participating banks' belief in Jordan's national carrier's capacity to execute ambitious future expansion and development plans, reinforcing its position within the aviation sector. "The agreement also underscores the strong confidence Royal Jordanian enjoys among local and regional financial institutions." She added that this financing contributes to supporting the national economy and reinforcing Jordan's standing regionally and internationally.
