GULF COOPERATION COUNCIL
* Fitch Ratings downgraded Oman's long-term foreign- and local-currency issuer default ratings to BB+ from BBB-, among other ratings, saying the outlook for oil production, prices and the pass-through of oil revenues to the government's budget is "highly uncertain." Moody's remains the only major rating agency to rate Oman's credit rating as investment grade, Reuters noted.
* The Central Bank of Oman approved a draft framework for the rescue and replacement of banks, Oman Daily reported.
* Ahli Bank SAOG
* Bank Sohar SAOG
* Bank AlBilad's board of directors proposed to increase the lender's capital to 7.50 billion Saudi Arabian riyals from 6.00 billion riyals through the issuance of 1 bonus share for every 4 shares owned. The capital hike will be done through capitalization of 1.5 billion riyals by capitalizing the statutory reserve and retained earnings.
* The Saudi Arabian Monetary Authority issued rules for the licensing and supervision of branches of foreign insurance and reinsurance companies operating in the country.
* Dominique Leimer will join Credit Suisse in March 2019 as head of the Swiss lender's private wealth unit in Saudi Arabia, insiders told Bloomberg News.
* Kuwait Finance House KSCP
* The Dubai Financial Services Authority approved amendments to its collective investment funds framework, Argaam wrote.
* First Abu Dhabi Bank PJSC
* S&P Global Ratings revised the outlook on Doha Bank Assurance Co. LLC
REST OF MIDDLE EAST AND NORTH AFRICA
* Fitch affirmed Lebanon's long- and short-term foreign- and local-currency issuer default ratings at B-/B and revised the outlook on the long-term ratings to negative from stable.
* Lebanese politicians said a new national unity government is expected to be formed within the next few days, Reuters reported. Since the national election in May, efforts to form the new government have been hampered by conflicting demands for cabinet posts.
* Credit card firm Leumi Card Ltd. raised 140 million Israeli shekels in CoCo deferred notes, Globes reported.
* The Central Bank of Egypt is reviewing the possibility of reopening license applications for foreign banks seeking to operate in the country, according to Al-Masry Al-Youm.
* Egypt received a $500 million loan from the Kuwait Fund for Arab Economic Development, which it will use to finance develop development activity in the Sinai peninsula, Financial Afrik wrote.
* Morocco's central bank kept its key rate unchanged at 2.25%
* The IMF approved a roughly $2.97 billion precautionary and liquidity line for Morocco. The two-year arrangement is aimed at providing insurance against external risks and support the authorities' efforts to further strengthen the resilience of the country's economy.
EAST AND WEST AFRICA
* Kenya's Capital Markets Authority granted a money manager license to Standard Investment Bank Ltd. to engage in online foreign exchange trading, marking the country's first under the money manager license category.
* Kenyan mortgage lender HF Group PLC
* CalBank Ltd. and Societe Generale Ghana Ltd.
* Moussa Sanogo, secretary of state in charge of Ivory Coast's budget, said the government is looking to raise as much as 1.4 trillion CFA francs on regional and international markets next year, according to Reuters. A source told the newswire that the country plans to raise most of the money through the issuance of eurobonds.
CENTRAL AND SOUTHERN AFRICA
* Nedbank Group Ltd.
* Angolan cash transactions may be limited to 3 million kwanzas for individuals and 5 million kwanzas for companies if a proposed review of the country's penal code is passed. Deputy attorney general Mota Liz said the measure's aim is to prevent the circulation of large cash quantities outside the financial system, Macauhub wrote.
* The IMF approved the disbursement of roughly $76.3 million to Cameroon after completing the third review of its extended credit facility arrangement for the country. The latest release brings total disbursements under the arrangement to around $438.9 million.
* The Central African Republic has formalized its membership in Afreximbank and is awaiting becoming a full shareholder in the lender, Financial Afrik reported.
IN OTHER PARTS OF THE WORLD
Asia-Pacific: IDFC Bank, Capital First close merger; Bank of China names employee supervisors
Europe: Saxo Bank to buy BinckBank for €424M; Bankia off-loads €3B of bad loans
Latin America: Banco BMG confirms IPO postponement; Mexican sofipo Coincidir to be liquidated
North America: Goldman says previous Malaysia government lied; BNY Mellon to pay $54M
Global Insurance: Epic Integro deal; PartnerRe quitting Dubai; Centene boosts enrollment
Deza Mones, Henni Abdelghani, Padraig Belton and Mariana Aldano contributed to this report.
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This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.