Turkish authorities said they had decided to take over Bank Asya, the Islamic lender caught up in a feud between President Tayyip Erdogan and US-based Muslim cleric Fethullah Gulen.
The move was announced by the banking watchdog B
Kuwait Finance House, the Gulf Arab state's largest Islamic lender, said on Monday that a customer had settled $296.6 million of debt owed to the bank and that the impact of the receipt would be reflected in its second-quarter results.
UAE-based Islamic home finance provider Tamweel said the sale price of properties in its portfolio in Dubai and Abu Dhabi increased by 10 to 15 per cent from January 2011 and June 2012.
Releasing the data on the sale prices of propertie
Bahrain-based Islamic mortgage finance provider Sakana Holistic Housing Solutions has confirmed its sponsorship for the upcoming seminar of Bahrain Chapter of the Institute of Chartered Accountants of India (BCICAI).
The seminar, which wil
Bahrain Islamic Bank and Al Salam Bank have named KPMG Fakhro as advisor after receiving approval from the central bank for their planned merger, Al Salam Bank said in a statement on the Bahrain bourse late Tuesday.
The two banks said they
Troubled Islamic mortgage lender Amlak posted a wider second quarter net loss as income from its core business fell and impairments more than doubled, the company said in a statement on Tuesday.
The Dubai lender made a net loss of 52.2 mil
Kuwait Finance House (KFH), the country's biggest Islamic lender, reported a 43 percent fall in the second-quarter net profit, missing analysts forecasts for the fourth consecutive quarter.
Net profit in the
Kuwait Finance House, the country's biggest Islamic lender, said on Sunday it has signed a deal with Gulf Investment House to restructure the KD49.5 million ($180 million) it owes in debts.
The agreement 'includes converting the cu
Dubai's Noor Islamic Bank could break even in 2011, a year ahead of target, and will consider merger and acquisition opportunities later to expand overseas, its chief executive said on Wednesday.
Noor Islamic Bank focuses mainly on cor
Dubai-based lender Amlak said on Thursday net loss for the first-quarter soared hurt by higher provisions and a sharp drop in revenues.
The Islamic mortgage lender made a net loss of Dh53.9 million ($14.67 million) for the quarter, compare