Latest news with #Ahlibank
ILoveQatar.net
3 days ago
- Business
- ILoveQatar.net
Doha Oasis & Ahlibank partner to elevate lifestyle experiences of Ahlibank Credit Card holders
Doha Oasis and Ahlibank Q.P.S.C. have joined hands in a strategic partnership that brings together two leading Qatari institutions in a collaboration designed to elevate the lifestyle experiences of Ahlibank Credit Card holders. The strategic partnership will unlock exclusive privileges across Doha Oasis destination portfolio of luxury, entertainment, sports and culinary experiences. At the heart of this offering is the 5-star Banyan Tree Doha Hotel by la Cigale Msheireb, the iconic Doha Quest—Qatar's first indoor theme parkhome to two Guinness World Record-breaking rides—and Printemps Doha, the largest luxury department store in the Middle East, as well includes access to Doha Oasis Padel, featuring world-class indoor courts. The collaboration will also offer in the near future special offers at Novo Cinemas at Doha Oasis which include Novo Signature, Novo 7-Star, Imax, Novo Kidz, Novo Bowling and more. This initiative reflects a shared commitment to curating bespoke, high-end experiences for Ahlibank loyal customers. Under this new partnership, eligible Ahlibank Visa Infinite and Signature Credit Card Holders will enjoy a range of privileges across Doha Oasis destination. These benefits have been designed to offer memorable and convenient access to the iconic venue attraction and experiences, reinforcing both partners' commitment to quality unique customer-centric experiences. Speaking on the occasion, Mr. Victor Agha, Chairman of Doha Oasis, stated, 'Across our destination experiences, from luxury hospitality to immersive entertainment, wellness and global culinary experiences, we've curated offerings that reflect the highest standards of excellence in Qatar. This strategic partnership with Ahlibank brings those experiences closer to their valuable customers. By aligning with a leading financial institution, we're reinforcing Doha Oasis as the premier lifestyle and leisure destination in the region.' Mr. Hassan Ahmed AlEfrangi, CEO of Ahlibank, added, 'This strategic partnership with Doha Oasis underscores Ahlibank's commitment to building meaningful alliances that enrich the lifestyle of our customers. By joining forces with one of Qatar's most iconic destinations, we're able to offer our Visa Infinite and Signature Credit Card holders access to exceptional experiences that reflect the quality and exclusivity they expect. Together, we are elevating what it means to bank with Ahlibank — combining financial value with premium lifestyle rewards. This partnership marks an important milestone for both entities, reflecting a long-term vision of collaboration and service excellence. It also aligns with Qatar's broader strategy to develop and diversify its high-end tourism and hospitality offerings. Further details of the offers and eligibility criteria will be made available to Ahlibank Visa Infinite and Signature Credit Card through the website and social media channels. Source & cover image credit: Press Release
Zawya
12-06-2025
- Business
- Zawya
Oman: United Finance's $38mln bond issuance oversubscribed
Muscat – United Finance Company on Wednesday announced the successful completion of its privately placed, senior unsecured bond issuance, which was oversubscribed by 71%. Strong investor demand enabled the company to increase the offer from the originally targeted RO10mn to a final issue size of RO15mn. The bonds carry a fixed coupon of 7% per annum, payable semi-annually, and will be listed on the Muscat Stock Exchange (MSX). Ahlibank acted as issue manager and collection bank, while Al Busaidy, Mansoor Jamal & Co served as legal adviser. Nasser al Rashdi, Chief Executive Officer of United Finance, said, 'The overwhelming response to this offering reflects investors' confidence in United Finance's financial strength and strategic direction. The additional capital enhances our balance sheet flexibility as we execute our growth roadmap and continue to deliver innovative, customer-centric financing solutions.' The proceeds will support United Finance's ongoing transformation initiatives, digital expansion, and selective portfolio growth – all aligned with prudent risk management and long-term shareholder value creation. With a strengthened capital base, the company is poised to capture emerging opportunities across its target segments while maintaining robust liquidity and capital adequacy ratios. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Muscat Daily
12-04-2025
- Business
- Muscat Daily
Ahlibank accepts merger plan proposed by Sohar International
Muscat – Ahlibank's board of directors has accepted the merger proposal outlined in a letter of intent submitted by Sohar International Bank. On Monday, Sohar International announced its intention to explore a potential merger with Ahlibank and formally presented its proposal through a letter of intent to Ahlibank's board. Ahlibank's board convened on Thursday to review and evaluate the terms and strategic merits of the proposed merger. 'The board of Ahlibank has resolved to execute and enter into the letter of intent, which includes (among other things) the initial conditions for the proposed merger,' Ahlibank said in a disclosure to the Muscat Stock Exchange. One of the key initial conditions outlines that the merger will take the form of an incorporation, whereby all assets and liabilities of Ahlibank will be transferred to Sohar International by operation of law on the effective date of the merger. According to the disclosure, Ahlibank shareholders would receive shares in Sohar International, based on a proposed share swap ratio derived from the respective book values of both banks, as per their audited financial statements for the year ended December 31, 2024. In a separate filing to the Muscat Stock Exchange, Sohar International confirmed receipt of Ahlibank's acceptance of the merger proposal. 'Sohar International welcomes the endorsement by Ahlibank's board of the compelling strategic rationale underpinning the merger proposal,' the bank said. Sohar International's board believes the merger offers a strong opportunity for the shareholders, employees, customers and broader stakeholders of both banks, by creating a larger, more diversified, and fully scaled financial institution. The two banks have agreed on an exclusivity period during which they will work towards progressing the necessary due diligence and negotiations. During this period, neither bank will consider or enter into any alternative merger, acquisition, disposal or similar proposal without the other party's consent. As of December 31, 2024, Sohar International's total assets had risen 10% year-on-year to RO7.361bn, while Ahlibank's total assets increased by 13.2% to RO3.755bn. If completed, the merger would create a combined entity with total assets exceeding RO11bn. In its initial disclosure, Sohar International said its board is confident that the proposed merger presents a unique opportunity to establish a stronger, more competitive bank by integrating the successful standalone operations of both institutions. 'This would enable the merged entity to compete more effectively and pursue business opportunities for clients both in Oman and internationally,' the bank added. Completion of the merger remains subject to the satisfactory conclusion of due diligence, negotiation and signing of a binding merger agreement, and obtaining the necessary regulatory, board, and shareholder approvals from both banks. Both Sohar International and Ahlibank have confirmed they will continue to keep the market informed of any material developments, in accordance with regulatory requirements.
Zawya
08-04-2025
- Business
- Zawya
Sohar International eyes merger with Ahlibank
Muscat: Sohar International Bank on Monday announced its intention to explore a potential merger with Ahlibank. In a meeting held by its board of directors, Sohar International resolved to send a letter of intent to the board of Ahlibank, proposing a merger between the two banks. The letter of intent outlines a proposed merger by incorporation, whereby all assets and liabilities of Ahlibank would be transferred to Sohar International upon completion of the transaction, according to a disclosure submitted to the Muscat Stock Exchange. As per the disclosure, shareholders of Ahlibank would receive share consideration in Sohar International, based on a proposed share swap ratio determined by the respective book values of Ahlibank and Sohar International, as reported in the audited financial statements for the financial year ended December 31, 2024. The board of Sohar International believes that the merger 'represents a compelling opportunity for the shareholders, employees, customers and broader stakeholders of both banks, through the creation of a larger, more diversified and fully scaled institution'. Sohar International added that its board considers the proposed merger with Ahlibank as beneficial in several respects: (i) Enhancing the domestic competitive positioning of the combined entity; (ii) Expanding the product and service offerings of both banks; (iii) Creating opportunities for realising revenue, cost, and growth synergies; and (iv) Improving liquidity and market presence for shareholders of both institutions. 'The board of directors of Sohar International is confident that the proposed combination presents a unique opportunity to create a larger, more diverse and competitive bank by integrating the existing successful standalone franchises of both entities. This would enable the merged institution to compete more effectively and pursue business opportunities for clients both in Oman and internationally,' the bank said. The proposed merger and its terms, as outlined in the letter of intent, are subject to satisfactory due diligence, necessary corporate approvals from the boards and shareholders of both banks, and regulatory consent. Sohar International affirmed that it will make timely market disclosures regarding any material developments in line with regulatory requirements. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Zawya
26-03-2025
- Business
- Zawya
Qatar: Ahlibank completes new bond issuance of $500mln for 5 years
Qatar - Ahlibank has successfully completed the issuance of the sixth tranche of bonds valued at $500mn in the global debt markets. This is part of the guaranteed medium-term notes programme of $2bn guaranteed by the bank. The bond yield (coupon) was 4.95% after being oversubscribed more than four times by over 120 investors in Europe, Asia, the United Kingdom, the Middle East, and North Africa. Ahlibank CEO Hassan Ahmed AlEfrangi stated, 'We are pleased to successfully complete the sixth issuance despite the challenging market conditions, which reflects the confidence global investors have in the State of Qatar and the stable financial position of Ahlibank. This issuance will have a positive impact on the bank's operations and financial results'. AlEfrangi added, "Ahlibank has set a successful benchmark in the global debt markets with the support of the joint lead managers, which include Barclays Bank, QNB Capital, Mizuho, Deutsche Bank, J.P. Morgan, and Standard Chartered Bank. 'The strong demand from global investors led to good geographical diversity, with European investors, Asian investors, and UK investors 76%, and Middle East and North Africa investors 24%. "I would like to thank our international investors for their continued confidence in the State of Qatar and Ahlibank, and the Barclays Bank, QNB Capital, Mizuho, Deutsche Bank, J.P. Morgan, and Standard Chartered Bank for successfully executing the bond issuance." © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. ( Doha
