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Al Salam Bank announced the successful completion of its USD 450 million Additional Tier 1 (AT1) Capital issuance, indicating strong investor confidence in the bank's financial health and long-term growth strategy. The issuance, structured as a private placement and advised by ASB Capital, attracted significant demand from both regional and international investors. This initiative is part of the bank's broader financial optimization strategy to enhance its capital position and support future growth plans. The issuance underscores the bank's commitment to sustainable growth and financial resilience, positioning it as a leading financial group in the region. ASB Capital, which advised on the issuance, provides tailored financing solutions and was recently involved in a USD 1 billion Sukuk issuance for Bapco Energies. Rafik Nayed, Group CEO of Al Salam Bank, highlighted the issuance as a testament to the bank's financial stability and strategic direction, noting a consistent increase in equity since 2020. He emphasized ASB Capital's ability to attract investor demand despite global market volatility, showcasing the firm's expertise in capital markets.

The headquarters of Al Firdous (P.J.S.C.), located in Dubai, UAE, announced that a Board of Directors meeting will be held on June 12, 2025, at 3:00 PM. The agenda includes discussing and approving the financial report for the fiscal year ending March 31, 2025, considering the Nominations and Bonuses Committee's recommendation not to distribute meeting attendance allowances to Board members, and authorizing Sheikh Khaled Zayed S. Al Nahyan, the Chairman, to initiate the necessary steps to convene the General Assembly meeting. The announcement is addressed to Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market, with a copy sent to the Securities and Commodities Authority.

Ahmad Bin Shafar, CEO of Emirates Central Cooling Systems Corporation (Empower), has retained his position as Member Emeritus on the Board of Directors of the International District Energy Association (IDEA) for the seventh consecutive term. This role highlights his contributions to the district cooling industry and his efforts in promoting UAE's sustainable cooling solutions globally. Bin Shafar's leadership has been pivotal in advancing industry efficiency and sustainability, influencing policy, and fostering international collaboration. He expressed his commitment to enhancing the region's role in energy efficiency and sustainable cooling. This announcement aligns with the increasing global demand for energy-saving cooling solutions due to climate change. The IDEA, based in the United States, includes a diverse group of global members and promotes the adoption of district cooling and heating systems for sustainable urban development.