The European Bank for Reconstruction and Development (EBRD) and the private sector arm of the Islamic Development Bank (IDB) will launch a $120 million fund to support small businesses in the southern and eastern Mediterranean region.
Societe Generale will launch a 1 billion ringgit ($300 million) Islamic bond programme in Malaysia, two sources familiar with the deal told Reuters, becoming the second major European bank to issue sukuk and the first to do so in Asia.
Gold fell on Tuesday as safe-haven demand ebbed after Cyprus clinched a last-ditch rescue deal, while the European Central Bank worked to allay anxiety that the bailout could have negative implications for other euro zone states.
Societe Generale, one of the largest European financial services groups, has been voted best private bank in the region by the Banker Middle East magazine following online votes received from a thousand readers.
This is the third award won
Europe's banks are examining ways to reclaim funds from Saudi Arabia's Saad Group, and may take control of its Swiss subsidiary, Saad Investments, a source familiar with the situation said.
'Lenders are looking at their options