Finance House, the Abu Dhabi-based lender, is to raise Dh100m through debt issuances before the end of the year, the company's chairman says.
The bond, which comes after a Dh157m issuance last month, is part of the bank's strategy to raise up to Dh500m in long-term funding.
Mohammed al Qubaisi, the chairman of Finance House, said the bank would shift its sources of funding to longer-dated loans so it could place "more focus on cash flows and our bread-and-butter business", and avoid pursuing what he called "pie-in-the-sky types of ambitions".
ghunter@thenational.ae
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.