Al Hilal opens new branch in Kazakhstan
Submitted by Aabid Hussain on Sun, 03/21/2010 - 19:58The state-controlled Abu Dhabi Investment Council owned Al Hilal Bank, having 14 braches, took a major step to increase its presence in the Central Asia. The bank opened its new branch in Kazakhstan becoming the first Islamic bank to have full-fledged branch in the country.
Earlier, the Financial Markets Authority in the Central Asian Republic of Kazakhstan gave its nod to the bank for opening its branch in the resource rich country. The new bank, fully owned by Al Hilal Bank, would have capital of $36 million according to the information provided by the lender.
Al Hilal plans to open two branches in Kazakhstan
Submitted by Gurpreet Singh on Tue, 09/15/2009 - 18:45
Abu Dhabi-'s government-owned Al Hilal Bank has decided to establish two branches in Kazakhstan.
The sources informed that apart from its expansion plans in Kazakhstan, the banking group will also expand its three branches in Dubai and Abu Dhabi in October 2009.
The sources further informed that the new bank called Al Hilal Islamic Bank will be headquarter in Almaty, with an initial capital of about Dh100 million ($27million).
The bank is having five per cent market share in deposits, loans and assets in the UAE's Islamic banking sector.
Mubadala inks Kazakhstan oil deal
Submitted by Akilah Amiri on Sun, 06/14/2009 - 05:31
Abu Dhabi based Mubadala Development Company, ConocoPhillips, and JSC National Company KazMunaiGas (KMG) have inked joint exploration and development deals for the Nursultan Block (N Block) offshore Kazakhstan.
According to sources, KMG will hold 51% interest in the subsoil use contract, while the remaining 49% will be shared equally between Conoco-Phillips and Mubadala.
The sources further added that the project will be operated by a Kazakh firm which will be jointly owned by the participants in proportion to their equity.
Etihad launches first flight to Kazakhstan capital
Submitted by Rehan Rachid on Tue, 05/12/2009 - 02:39
Etihad Airways, the national airline of the United Arab Emirates, has announced that it has rolled out its maiden flight to Astana in Kazakhstan from its Abu Dhabi home base.
According to sources, flight EY294 departed from Abu Dhabi on Thursday morning (May 7) at 10.05am and landed at 4.35pm the same day at Astana airport.
The sources further added that Kazakhstan capital is now served, once a week from Abu Dhabi, with the airline using an Airbus A319 aircraft.
