Friday 31 July 2015

QIIB, GBM launch 4 customer service projects

Qatar International Islamic Bank (QIIB) has teamed up with Gulf Business Machines (GBM), a leading provider of IT solutions, to launch four major IT and business projects aiming to enhance customer experience at the bank, a report said. The projects include a new datacenter and a


Khaleeji Commercial profit rises 177pc to $11m

Khaleeji Commercial Bank (KHCB), a Bahrain-based Islamic bank, has reported an increase of 177 per cent in net profit for the first half at BD4.4 million ($11.67 million), compared with BD1.6 million for the same period last year. The profit figure was 164 per cent higher than the BD1.7 million


BCFC net profit surges 18pc to $22.5m

Bahrain Commercial Facilities Company (BCFC) has posted an 18 per cent rise in consolidated net profit at BD8.5 million ($22.5 million) for the first half of the year, compared with BD7.2 million for the same period last year, reported the Gulf Daily News (GDN), our sister publication.


Egypt's CIB net profit up 23pc in Q2

Commercial International Bank, Egypt's largest listed lender, on Wednesday reported a 23 per cent rise in second quarter net profit after minority interest compared to the same period last year, it said in a statement. Second quarter net profit after minority interest was EGP


BisB posts 105pc rise in net income to $21m

Bahrain Islamic Bank (BisB) has posted an increase of 105 per cent in net income for the first six months of the year at BD8.2 million ($21.75 million), compared with BD4 million for the same period last year,  said a report in the Gulf Daily News (GDN), our sister publication.


Ibdar earns 15pc returns on construction project sale

Ibdar Bank, a Bahrain-based Islamic wholesale investment bank, has earned returns of 15.95 per cent from the sale of a $30 million construction project, it announced yesterday. The bank said its exit from Sakan Development Company, its construction division, follows the final sal


UAE credit growth expected to be flat in 2015

Credit growth in the United Arab Emirates is expected to be around 2 per cent this year, a senior banking official said, in a fresh sign the UAE credit cycle may have peaked because of low oil prices and cooling property markets. "Credit growth will be flattish," Abdul


NBAD Q2 net profit edges up to $393m

National Bank of Abu Dhabi (NBAD) has reported net profits of Dh1.44 billion ($393.5 million) in the second quarter of the year, up one per cent year-over-year. The net profits for the first half of the year were Dh2.86 billion, up one per cent as compared to the last year, said


RakBank launches 'World MasterCard Credit Card'

RakBank has launched its latest World MasterCard credit card. It will offer up to 10 per cent cashback on travel, hotel dining, and supermarket spends plus a host of dining and lifestyle privileges, travel and insurance benefits, and convenient easy payment plans, said a statemen


DFSA fines Arqaam over money laundering rules

The regulator of Dubai's financial free zone said on Wednesday it had fined Arqaam Capital $50,000 after investigating the Dubai-based investment bank over compliance with anti-money laundering rules. The investigation followed a periodic risk assessment by authorities that i

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