Tuesday 21 April 2015
 
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Masraf Al Rayan Q1 profit rises 18pc

Masraf Al Rayan, Qatar's second-largest bank by market value, reported an 18 per cent increase in first-quarter net profit on Monday, beating analysts' expectations. The bank is the fourth major Qatari lender to report its

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Customer deposits surge at Oman Islamic banks

Oman's two full-fledged Islamic banks have yet to post a profit but their customer deposits are surging, increasing pressure on authorities to develop sharia-compliant money market tools and make a long-awaited issue of Islamic bonds (sukuk)

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Qatar Islamic Bank Q1 net profit rises 19 pc

Qatar Islamic Bank (QIB), the Gulf state's largest sharia-compliant lender by assets, reported a 19 per cent jump in first-quarter net profit, broadly in line with analysts' forecasts. The bank was one of three Islamic lenders i

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Saudi's Al Rajhi Bank posts 11 pc quarterly profit drop

Al Rajhi Bank, Saudi Arabia's second-largest lender, posted an 11 per cent drop in its first-quarter net profit, it said on Monday, missing analyst forecasts. The bank made 1.52 billion riyals ($405.3 million) in the three mon

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IFC to invest $2bn in Egyptian infrastructure, power

The World Bank's development arm plans to invest between $1.2 billion and $2 billion in Egypt over the next four years, including around the Suez Canal, its regional director told Reuters. The International Finance Corporation

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Riyad Bank Q1 net profit rises 8.6pc

Riyad Bank, Saudi Arabia's third-largest listed lender by assets, posted an 8.6 per cent increase in its first-quarter net profit on Tuesday, citing a rise in operating income. The bank said it made SR1.17 billion ($312 millio

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Mideast banks ‘need to embrace future retail trends’

Middle East retail banks will need to embrace future trends across technology, customers, competition and macro-economics, according to an expert. Sanjoy Sen, managing director of Retail Banking Asia Pacific at ANZ, delivered a pr

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Aljazira names advisers for $800m rights issue

Saudi Arabia's Bank Aljazira has appointed the investment banking arms of Gulf International Bank and Riyad Bank to advise it on a SR3 billion ($800 million) rights issue. The price and number of shares to

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Armed bank robber in Bahrain gets 20-year jail term

An armed bank robber who 'mocked' staff and customers as he fled with BD13,000 ($34,249) has been jailed for 20 years. Bahraini Nabeel Khan Haji was found guilty of theft, assault and possessing an unlicensed weapon by th

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StanChart top executive Shankar leaving

One of the top global executives of Standard Chartered, V Shankar,  is stepping down later this year, the bank said. Shankar is the chief executive officer of Middle East, Africa, The Americas of the bank. He i

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