Tassnief assigns ‘BB’ rating to Maalem Financing

Updated 18 September 2018
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Tassnief assigns ‘BB’ rating to Maalem Financing

Simah Rating Agency (Tassnief) has assigned an issuer rating of “BB” to Maalem Financing Company. The outlook on the rating is stable. Tassnief has also assigned a preliminary long-term rating of “BB” to the proposed sukuk of Maalem Financing Company.
Tassnief is a Saudi rating agency licensed by the Capital Market Authority (No.15001-08) to conduct rating activities, which include several products such as rating services for corporates, financial institutes, sovereign bonds, sukuk and investment funds, in addition to other products as per the market’s needs.
Tassnief is a business enabler and plays an important role in the financial sector. It enhances transparency for business owners, investors, regulators and the government, as well as clarity and competitiveness for both the local and international economies.
It helps in creating an investment environment that is in accordance with the transformation the Kingdom is witnessing in line with Saudi Vision 2030.


Middlesex University Dubai doctorate for LuLu chairman

The UAE’s Minister of Tolerance Sheikh Nahyan bin Mubarak Al-Nahyan awarded the doctorate to Yusuff Ali M.A., LuLu Group chairman and managing director.
Updated 20 November 2018
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Middlesex University Dubai doctorate for LuLu chairman

Middlesex University Dubai recently conferred an honorary doctorate on businessman and philanthropist Yusuff Ali M.A., LuLu Group chairman and managing director. The UAE’s Minister of Tolerance Sheikh Nahyan bin Mubarak Al-Nahyan was the chief guest of the graduation event. 

While addressing the graduates and dignitaries, Sheikh Nahyan stressed the importance of education, which he said defines the character of an individual. Sheikh Nahyan further said that investing in education is like investing in the future, which also shapes the values of citizens. He urged students to continuously learn as it is a never-ending process. 

Sheikh Nahyan congratulated Ali on receiving the honorary doctorate, saying: “Yusuff Ali played an important role in strengthening the relationship between India and the UAE and for setting benchmarks in entrepreneurial leadership.”

He praised Ali’s “commitment to fellow human beings” and described him as a person with an “impressive record of achievements.”

More than 300 students were also awarded graduation degrees by Sheikh Nahyan. Also present on the occasion were Dr. Tayeb Kamali, Hamad Abdulla Al-Shamsi, chairman of Amanat Holding, and other dignitaries.