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Pakistan has been trying to improve financial inclusion for the last 20 years with little success. Are new digital licences the answer?

Dubai investment firm FIM Partners considers raising SPAC Gulfbusiness.com 2 hrs ago © Motivate Publishing photo-1561414927-6d86591d0c4f FIM Partners, the frontier and emerging markets asset manager backed by EFG Hermes, is considering listing a special purpose acquisition company in the US, people familiar with the matter said. The Dubai-based investment firm could seek about $250m for the blank-check company, the people said, asking not to be identified because the information is private. JPMorgan Chase & Co. is advising on the potential deal, they said. FIM Partners hasn’t set a tim...

Updated 11 min 9 sec ago May 25, 2021 08:32 DUBAI: Abu Dhabi plans to sell US dollar bonds on Tuesday in its first foray in the international debt markets this year, raising cash for state coffers despite a recent rebound in oil prices. The oil-rich emirate gave initial guidance of 70-75 basis points over US Treasuries for seven-year US dollar-denominated bonds expected to price later in the day. It did not say how much it intended to raise. The UAE was hit hard by the COVID-19 pandemic and last year’s crash in oil prices, but a rebound in global crude demand as economies re-open has reduc...

It comes after a rampant rise in the stock price of the Kingdom’s big lenders. “I think Saudi banks in general are in a sweet spot,” Hedi Ben Mlouka, CEO and founder of FIM partners, told Bloomberg TV on Thursday. “You are seeing growth no longer coming from a low base, we are talking big numbers here that move the balance sheet and the profitability of these banks. The ‘Shareek’ program is going to spur the first growth we have seen in corporate borrowing to support all this capex,” he said. The $2.7 trillion Shareek program was announced by the Saudi government last month and ...

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