The Egyptian Civil Code is the source of vast majority of the laws in the Middle East including the UAE, Qatar, Kuwait, Jordan, Libya and Syria.
However, in Saudi Arabia, there is no civil code, but Shari’ah law, in essence,
Saudi Arabia-based finance company Tamwily and Shariyah Review Bureau (SRB) have signed a partnership deal covering shariah supervision, monitoring and shariah supervisory audit.
The agreement comes as Tamwily seeks to integrate s
Falah Capital, a US-based investment group, said its flagship Islamic exchange traded fund (ETF) certified for shariah compliance by Shariyah Review Bureau, has been listed on the New York Stock Exchange (NYSE).
The National Bank of Abu Dhabi (NBAD) has launched its NBAD Shariah Mena Dividend Leader Fund, which will invest in select dividend-paying companies traded on the most promising Mena equities markets.
The fund has been inspired by
A well-established Islamic finance infrastructure coupled with depth of intellectual capital make Bahrain an ideal platform for Sharia-compliant market funding, a top banking official said.
According to Central Bank of Bahrain exe
Gulf Installments Company, a Saudi-based company focused on providing Shariah-compliant installment and leasing to businesses across a variety of sectors and assets, has opened a full-fledged branch office in Jeddah.
The company w
Kingdom Holding Company (KHC), the investment company chaired by Saudi Prince Alwaleed, said it has set up a new sharia committee based on the recommendation of KHC board members.
The new sharia committee will help study the gradu
Gatehouse Bank, a Shariah compliant investment bank based in London, has completed the sale of the Procter & Gamble (P&G) UK headquarters building, in a deal worth GBP33.68 million ($54.12 million).
The sale representing a
The Saudi British Bank (SABB) recently held three seminars in Riyadh, Jeddah and Al Khobar on the opportunities and challenges facing Islamic banking.
The seminars also discussed the promising future of Islamic banking in light of
NCB Capital has become the first Saudi company to launch non-Saudi registered funds under the Undertakings for Collective Investment in Transferable Securities (UCITS) platform registered in Ireland.
Saudi Arabia’s largest w