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BHM Capital Financial Services has been appointed as the liquidity provider for Alpha Data shares on the Abu Dhabi Securities Exchange (ADX). This partnership aims to enhance the liquidity of these shares, improve price stability, and facilitate efficient transactions for investors. BHM Capital will enter two-way daily quotes into the market's trading systems in line with ADX and UAE Securities and Commodities Authority regulations. Abdel Hadi Al Sa’di, CEO of BHM Capital, expressed pride in the appointment, emphasizing the company's commitment to improving market accessibility and fostering a dynamic and transparent marketplace. BHM Capital is a leading financial institution in the UAE, known for its advanced financial services and regional leadership.
Al Ansari Financial Services (AAFS) has completed its acquisition of BFC Group Holdings, becoming the largest non-banking financial services provider in the Gulf Cooperation Council (GCC) region by branch network. This $200 million transaction expands AAFS's presence in Bahrain, Kuwait, and India, increasing its customer base by 29% and branch network by 60%. The acquisition enhances AAFS's operational scale and geographic diversification, benefiting shareholders, customers, and employees. AAFS, known for its digital innovation, plans to extend its digital model to BFC Group entities, reinforcing its position as a digital-first player. The acquisition secures AAFS's market leadership in remittances and foreign exchange, strengthens its regional footprint, and complements its growth strategy with BFC's fintech expertise. The integration is expected to generate cost efficiencies and drive revenue growth.
GFH Financial Group has announced the purchase of 4,689,300 treasury shares, increasing its total treasury shares from 181,767,200 (4.74% of total issued shares) to 186,456,500 (4.87% of total issued shares) as of April 9, 2025. The decision to purchase was made during a board meeting on March 24, 2024, and approved by the relevant authority on February 16, 2025. The average purchase price was 0.2842 USD per share, representing 0.122% of the issued capital. There are 196,802,883 shares remaining for purchase. The announcement was signed by Mariam Jowhary, Head of Compliance & AML.
Dubai Insurance Company held a Board of Directors meeting on April 9, 2025, at 12:00 PM at the company's headquarters. The agenda included reviewing the company's general business matters and reforming the board committees. The communication was signed by Sahem Abdel Haq, the Head of Legal.
Dubai Insurance Company held its Annual General Meeting (AGM) on April 9, 2025. During the meeting, the following resolutions were approved: the Board of Directors’ report on the company's activities and financial position for the fiscal year ending December 31, 2024; the Auditor’s report for the same period; and the company’s balance sheet and profit and loss account. Additionally, the AGM approved a proposal to distribute cash dividends of 80% of capital, equal to 80 fils per share, amounting to AED 80 million. The distribution of AED 5,200,000 as remuneration for the Board of Directors was also approved, and the board members were discharged for the fiscal year ending December 31, 2024.