Gulf International Bank (GIB) has launched the Middle East's first online-only consumer banking business, seeking to diversify after almost collapsing during the global financial crisis and to tap into a young, tech-savvy population.
Bahraini retail and commercial bank BMI has reported a net profit of BD0.88 million ($2.34 million) for the first nine months, up 141 per cent compared to a net profit of $1 million last year.
The bank recorded a net profit
Mohammed Bucheerei, the chief executive of Bahrain-based Islamic retail bank Ithmaar, was named the 2012 World Islamic Banking Conference (WIBC) Islamic Banker of the Year at a gala dinner at the Gulf Hotel in Manama.
The WIBC Isl
Bahraini retail and commercial banking institution BMI Bank registered a net profit of $1 million for the first nine months, the lender's fifth quarterly profit in a row, as it showed signs of its strength in the kingdom.
Bahrain-based Islamic retail bank Ithmaar registered a net loss of $500,000 in the first quarter compared to a net profit of $4.8 million in the same period last year mainly due to prudent impairment provisions.
Announcing the results on S
Ithmaar Bank, a Bahrain-based retail bank, has once again extended its support for a major Accounting and Auditing Organisation for Islamic Financial Institution (AAOIFI) event in Bahrain.
Ithmaar, a long-time AAOIFI supporter, is the plat
Bahrain’s total domestic credit grew 15.9 per cent to BD6.586 billion ($17.45 billion) at end-March this year, compared to the same period last year, the kingdom's central bank said.
Total outstanding loans at Bahrain
The volume of loans and credit facilities granted by retail banks to different economic sectors grew by 13.5 per cent to top BD6.4 billion ($16.9 billion) last year, up from BD5.7 billion in 2010.
Loans and credit facilities awarded to the
Bahraini retail and commercial banking institution, BMI Bank said it has signed a strategic and exclusive service agreement with top credit card acquirer CrediMax to facilitate mass acceptance for its Diners Club card in the Kingdom.
Bahrain-based retail and commercial banking institution BMI Bank has appointed Yacoub Yousif Ahmed Abdulla as the new head of operations.
Reporting to the general manager - support services, Abdulla will be responsible for managing th