Luxembourg Sukuk Bill Passes Into Law
On July 2014, the Luxembourg Parliament approved draft law 6631 on a sale and buy-back transaction of real estate assets necessary to issue an Islamic …
Finance
Malaysia En-Route To Establishing World’s First Islamic Megabank
MALAYSIA: Malaysia’s industry heavyweights CIMB Group, RHB Capital and Malaysia Building Society (MBSB) have thrown their hats into the ring after …
Saudi’s SAFCO Posts 7.8% Drop In Q2 Net Profit
Saudi Arabian Fertilizer Co (SAFCO) posted a fifth-straight decline in quarterly earnings on Sunday, missing analyst estimates with a 7.8 percent fall …
Emirates Islamic Offers Special Exchange Rates On Currencies For Summer Travel Season
Promotion focused on providing best exchange rates on currencies of major travel destinations
•Umrah and Haj travellers to benefit from discounted …
BANK NIZWA Wins Prestigious Award For Being Best Islamic Financial Institution In Oman.
Muscat- Dr. Jamil El Jaroudi, CEO, Bank Nizwa accepted another prestigious award on behalf of the bank at the recent London Sukuk Summit Awards …
Kenya Looks To Tap UAE Market
Kenyan Consul General meets Expo Centre CEO
Explore ways to strengthen trade ties
Sharjah, 13th July 2014: Amid rising bilateral trade with the UAE, …
Saudi Arabia’s Insurance Sector Set For Consolidation
•Changes in the mortgage market bode well for the insurance industry
• Kingdom’s IPO market set to pick up in 2014
JEDDAH – Saudi Arabia’s crowded …
QNB Group Reports H1 Net Profit Up Seven Per Cent At QAR 5.1 Billion
For the first six months of 2014, net profit was QAR 5.1 billion ($1.4 billion), up by 7.0 per cent compared to last year for the Qatari bank, In a …
Hong Kong Hires Banks For First Islamic Bond
Hong Kong has mandated HSBC , Standard Chartered, CIMB Group Holdings and National Bank of Abu Dhabi to arrange its first Islamic bond issue, IFR …
Standard Chartered Opens Its First UAE Islamic Banking Centre
Standard Chartered announced it has opened its first dedicated Islamic Banking Centre in the UAE at the Al Khalidiya Branch in Abu Dhabi.
Launched …
Saudi British Bank Reports Q2 Profits Up 15.19 Per Cent
The Saudi British Bank (SABB) reported robust financial results for the second quarter of 2014, showcasing a net profit of SAR 1,157.23 million. This …
Omani Official Drives Trade and Tourism Growth in Taiwan
Despite being the sole Omani representative in Taiwan, Sulaiman Bin Sultan Al Mughairy, the director of the Commercial Office of the Sultanate of …
The Saudi Investment Bank, An Islamic Bank Q2 profits up 10 per cent at SAR 352.9 million
The Saudi Investment Bank, An Islamic Bank reports quarterly profits up from SAR 320.4 million a year ago and up 4.56 per cent from SAR 337.5 million …
IFSB Secretary General Outlines The Challenges Facing Sukuk
In his Keynote Address at the 2014 London Sukuk Summit, at the Jumeirah Carlton Tower on 18 June, Jaseem Ahmed, Secretary-General, Islamic Financial …
Islamic Banks Miss Out On SME Business Opportunity Across MENA
Recently published research by the World Bank’s International Finance Corporation (IFC) suggests there is a huge demand for Islamic products by SMEs …