Sunday 20 April 2014
 
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Islamic Banking

Commercial Bank of Kuwait goes Islamic

Commercial Bank of Kuwait, the country's fifth largest lender by assets, said a majority of shareholders had approved a plan to convert the bank into a full-fledged Islamic lender, state news agency KUNA reported. The bank'

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Pakistan launches new Islamic banking rules

Pakistan's central bank has issued new rules for the operation of Islamic banking windows, aiming to strengthen their role in the world's second-most populous Muslim nation. The new requirements come at a time when Pakista

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New Islamic banking push by BIBF

The Bahrain Institute of Banking and Finance (BIBF) plan for the year is focused on Islamic banking, said the institute's top official. Briefing the Specific Council for Vocational Training (Banking Sector), BIBF director Solv

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Islamic banking ‘sustainable way forward’

Islamic banking could be the more economically viable and sustainable model of financing going forward, a report said. Following last week’s World Islamic Banking Conference (WIBC) in Manama, Bahrain, the report published by

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Lifetime Achievement Award for Al Lootah

Saeed bin Ahmed Al Lootah, the founder of Dubai Islamic Bank, was presented with the Ethical Finance and Innovation Challenge Awards (EFICA) Lifetime Achievement Award on Tuesday for his crucial role in developing the global Islamic banking indu

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GCC Islamic banking assets to hit $515bn

The Islamic banking assets at commercial banks in the GCC is likely to surge to more than $515 billion by the end of 2013 from $452 billion last year led by the regional giant Saudi Arabia, according to a report. The global Islami

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UAE, Malaysia deal to boost economic ties

The central banks of Malaysia and the United Arab Emirates signed a pact on Friday to foster closer economic ties between the two countries, including in the area of Islamic finance. The pact signals stronger cooperation between t

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Bahrain to host major Islamic banking summit

More than 1,300 participants from over 50 countries will be in Bahrain this December for the 20th anniversary special edition of the 'World Islamic Banking Conference (WIBC 2013)' being hosted by the kingdom. Held under th

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Dubai eyes Islamic business hub status

Dubai unveiled plans on Saturday to become a centre for business that follows Islamic principles in areas from banking and insurance to food processing, tourism and education. With a freewheeling commercial culture and a diverse p

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Mashreq unit offers Islamic banking solutions

Mashreq Al Islami, the Islamic banking arm of UAE-based Mashreq Group, recently launched a range of Islamic banking solutions for business banking clients. In addition to personal banking products, Mashreq Al Islami now offers fle

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