August 19, 2017 10:19 PM ET

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Company Overview of Tadhamon International Islamic Bank

Company Overview

Tadhamon International Islamic Bank provides retail and corporate banking products and services in Yemen. It offers current and savings accounts, fixed deposits, personal loans, corporate loans, real estate financing, and credit cards, as well as ATM and mobile banking services. Tadhamon International Islamic Bank was formerly known as Yemen Islamic Bank for Investment and Development and changed its name to Tadhamon International Islamic Bank in 2002. The company was founded in 1995 and is based in Sana'a, Yemen. Tadhamon International Islamic Bank operates as a subsidiary of Hayel Saeed Anam & Co Ltd.

Zubairi St.

Sana'a,  

Yemen

Founded in 1995

Phone:

967 1 203 270

Fax:

967 1 203 271

Key Executives for Tadhamon International Islamic Bank

Chief Executive Officer
Deputy General Manager
Assistant General Manager of Foreign Relations
Assistant General Manager of Trading services
Assistant General Manager of Information Technology
Compensation as of Fiscal Year 2017.

Tadhamon International Islamic Bank Key Developments

MBSB Reportedly Submits Merger Application To Bank Negara For Approval

Malaysia Building Society Berhard (KLSE:MBSB) has submitted an application to Bank Negara Malaysia for approval of its proposed merger with Asian Finance Bank Berhard, putting non-bank lender MBSB within closer reach of obtaining full Islamic banking status. In a recent stock exchange filing, MBSB said it had submitted the application within the stipulated six-month time frame to "seek the approvals of Bank Negara and/or the Ministry of Finance, Malaysia". It said further announcements would be made upon receipt of Bank Negara`s decision. Reportedly, the proposed plan involves MBSB buying AFB`s assets and liabilities in a deal that values the latter at a price-to-book value (PBV) of between 1.2 times and 1.5 times. It is understood that just two of AFB`s four Middle East shareholders Qatar Islamic Bank (Q.P.S.C.) (DSM:QIBK) (66.67%) and Global MENA Financial Assets Limited (6.67%) plan to exit, while the other two, RUSD Investment Bank Inc (16.67%) and Tadhamon International Islamic Bank (10%), want to stay on in the enlarged banking entity, a source said. As such, it is expected to be a deal that involves both cash and shares, with shares going to the shareholders that want to stay.

Asian Finance Bank And Malaysia Building Society Reportedly Closer To A Merger

Asian Finance Bank Berhad (AFB) and Malaysia Building Society Berhad (KLSE:MBSB) possibly heading towards the merger. Expectations are running high that shareholders of Asian Finance Bank will agree to a sale to Malaysia Building Society (MBSB) ahead of a looming June 21, 2017 deadline. The proposed plan involves MBSB buying AFB's assets and liabilities in a deal that values the latter at a price-to-book value (PBV) of between 1.2 and 1.5 times, one of the sources says. At this point, just two of AFB's four Middle East shareholders — Qatar Islamic Bank (Q.P.S.C.) (DSM:QIBK) and Global MENA Financial Assets Limited (6.67%) — have indicated they want to exit; the other two — RUSD Investment Bank Inc. (16.67%) and Tadhamon International Islamic Bank (10%) — want shares in the enlarged banking entity, the source says. As such, it is expected to be a deal that involves both cash and shares, with shares going to the shareholders that want to stay. "Now, it's just a matter of waiting for confirmation from AFB on pricing. That's the only piece of information that's needed before the parties can make their submissions to Bank Negara Malaysia. They expect to do it before the deadline," the source tells The Edge.

Bank Negara Malaysia Okays Malaysia Building Society’s Merger Talks With Asian Finance Bank

Bank Negara Malaysia has no objection in principal to Malaysia Building Society Berhad (KLSE:MBSB) commencing talks with Asian Finance Bank Berhad on a potential merger and acquisition deal. Malaysia Building Society Berhad said it plans to negotiate with the existing shareholders of Asian Finance Bank, namely Qatar Islamic Bank (Q.S.C.) (DSM:QIBK), RUSD Investment Bank Inc., Tadhamon International Islamic Bank and Financial Assets Mena W.L.L. “BNM requires that the negotiations be completed within six months,” Malaysia Building Society said in a bourse filing on December 21, 2016.

Similar Private Companies By Industry

Company Name Region
Cooperative & Agricultural Credit Bank Middle East/Africa
International Bank of Yemen Y.S.C Middle East/Africa
Islamic Bank of Yemen for Investment and Finance Middle East/Africa
National Bank Of Yemen Middle East/Africa
Saba Islamic Bank Middle East/Africa

Recent Private Companies Transactions

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