RAKBANK has successfully completed its first Additional Tier 1 (AT1) security issuance, raising USD 300 million
The additional capital strengthens the Bank's ability to support lending activities, invest in strategic initiatives, and reinforce its competitive position. It also enables RAKBANK to continue delivering innovative financial products and services to its customers.
© 2000 - 2025 Al Bawaba (www.albawaba.com)
Signal PressWire is the world's largest independent Middle East PR distribution service.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Wamda
13 hours ago
- Wamda
BioSapien extends pre-Series A to $8 million, onboards Globivest as investor
UAE and US-based healthtech BioSapien has extended its pre-Series A round to over $8 million, adding Globivest to its list of backers, alongside Global Ventures, Golden Gate Ventures, and Dara Holdings. Founded in 2018 by Khatija Ali, BioSapien offers a flagship product, MediChip™, which is a drug delivery, 3D-printed, slow-release delivery platform attachable to any tissue with minimal systemic side effects. The funding will support product development and global expansion, with 12 new executives hired across R&D, medical affairs, regulatory, and operations. Key appointments include Joseph Borrello as CTO and Sonia Ramamoorthy as Head of Medical Affairs. Press release: BioSapien, the pioneering biotech company behind MediChip™, a revolutionary localised cancer treatment platform, announces a new extension to its pre-Series A funding round and the appointment of new talent across the business, including Joseph Borrello, PhD, as Chief Technology Officer; Sonia Ramamoorthy MD MBA FACS as Head of Medical Affairs; Agnes Westelinck, PharmD, as Head of Regulatory U.S.; Dirk Richter MD FACS as Head of Regulatory U.A.E.; David Briere, PhD, as Director of Pharmacology; and Jerry Webb, BSc, as Head of Quality. BioSapien is delighted to welcome Globivest as an investor in the pre-Series A funding round. Globivest is the first women-led, gender lens venture capital fund from the MENA region and has expertise in Life Sciences. BioSapien's pre-Series A funding total is now over $8 million, with investors including Global Ventures – a leading VC firm in MENA; plus Golden Gate Ventures and Dara Holdings. Globivest's stated mission is to break the myth that opposes capital returns to impact-driven models. Championing the WHO's 'One Health' approach, it specialises in innovative and scalable early-stage startups that drive health, social, and environmental change – making BioSapien an ideal fit for its portfolio. BioSapien also announces the acquisition of world-class talent across all tiers of the company— with 12 new appointments. In addition to the appointments listed above, other new talent includes Zhiyu Xia PhD as Senior Manufacturing Engineer, Gaurav Vij MBA as Business Officer; Nancy Sperling MS MS as the QC Lead, Nivedita Sivakumar PharmD MS as Documentation and Compliance Manager, Manny Valenza BA as Clinical Development Associate and Jared Rice BA as the Research and Operations Lead. Dr. Khatija Ali, CEO of BioSapien, said: 'Two of the greatest challenges for young, fast-growing companies are establishing a strong balance sheet and attracting high-quality talent. Therefore, I am delighted to announce an extension of BioSapien's pre-Series A funding round. As a female-led healthcare fund in the MENA region - and backed by EU pharma - we are proud to have Globivest as an investor and strategic partner. 'Similarly, it gives me great pleasure to welcome new, world-class colleagues across all tiers of the Company. A business is only as good as its people - so it is thrilling to be joined by such high-quality, diverse talent. Together, we will shape a future where precision medicine is both globally impactful and locally accessible.' Dr. Laura-Joy Boulos, Partner at Globivest, commented: 'At Globivest, we back companies that don't just promise innovation – they deliver transformative, science-backed solutions with the power to shift paradigms. BioSapien's MediChip™ platform is a breakthrough in localised cancer treatment – scalable, precise, and deeply aligned with our One Health mission. We're proud to support Dr. Khatija Ali and her team as they build the future of accessible precision medicine.'
Al Bawaba
14 hours ago
- Al Bawaba
Dubai and India strengthen their strategic partnership in trade and logistics services
As part of its ongoing efforts to develop international economic relations and facilitate trade between Dubai and its trading partners, Dubai Customs hosted an expanded meeting with the participation of a delegation from the Republic of India, headed by Arti Agarwal Srinivas Director General, Directorate General of Systems and Data Management at the Central Board of Indirect Taxes and Customs (CBIC).A delegation from DP World also participated in the meeting. The meeting tackled ways to enhance cooperation in inter-MENA trading trends and supply chain, logistics services, fast-tracked clearance procedures, and customs facilitations used to accelerate trade movement and increase the flow of goods. The meeting also discussed the development of the India-Middle East-Europe Economic Corridor (IMEEC) and its associated virtual trade corridor. At the beginning of the meeting, His Excellency Dr. Abdulla Busenad, Director General of Dubai Customs, welcomed the visiting delegation, emphasizing that this visit is part of the Dubai Economic Agenda's vision to enhance Dubai's role as a global trade and logistics also underscores the strength of relations between Dubai and India, which are witnessing rapid growth across various economic sectors. Moreover, we are working to facilitate trade with Dubai's trading partners in Asia, the first one of them is the Republic of India. Our goals are to encourage investment, facilitate trade, and enhance Dubai's position on global competitiveness indicators. For her part, the head of the Indian delegation, Arti Agarwal Srinivas, praised the significant developments witnessed by Dubai's customs and logistics system, emphasizing that India views Dubai as a pivotal partner in supporting the smooth flow of supply chain and a strategic gateway to markets in the Middle East, Africa, and Europe. The meeting was attended by Mansoor Al-Malik, Executive-Director for Policies and Legislation Division at Dubai Customs, and Ateeq Al Muhairi, the Executive Director of the Customs Development Sector at Dubai Customs. 'The MAITRI platform' was reviewed; it is a single digital platform that aims to facilitate the data exchange between Customs and Port systems in the UAE and India. This aims to increase the movement of goods, reduce delays and customs costs, and open up broader horizons for logistics partnerships that serve common interests and keep pace with future ambitions.
Al Bawaba
16 hours ago
- Al Bawaba
Dubai Culture Wins ‘Best AI Governance Framework 2025' at GovTech Innovation Awards
Dubai Culture & Arts Authority (Dubai Culture) has been named the winner of the Best AI Governance Framework of 2025 during the GovTech Innovation Forum & Awards, hosted by TahawulTech in Dubai. The annual event honours government entities and IT leaders for driving digital transformation in the UAE and developing innovative solutions to improve the lives of citizens and residents. The recognition celebrates Dubai Culture's AI-driven initiatives that have enhanced cultural accessibility and public engagement. These efforts support the UAE National AI Strategy 2031, which aims to establish the country as a global AI hub by 2031 and embed AI across all sectors. Dubai Culture stood out for adopting cutting-edge practices and integrating AI throughout its core activities while adhering to international standards and complying with national AI governance laws, policies, and regulations. The Authority also achieved ISO 42001:2023 certification for its AI management system, making it the first government entity in Dubai and the first cultural and arts institution worldwide, to receive this certification. It remains committed to empowering creative talent through advanced technological tools.
