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Turkey hails investment ratingTurkey hailed its second investment grade rating yesterday, seeing it as a seal of approval from international markets for a decade of economic reform. Investors joined in, driving sovereign bond yields to record lows. Go More… |
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BLME eyes 15pc asset growth, stronger Gulf tiesThe Bank of London and The Middle East (BLME), Britain's largest standalone Islamic bank, is targeting 15 per cent growth in assets this year, with plans for a Dubai office to help boost its capital markets and wealth management offerings. More… |
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Al Baraka to raise $200m with sukukAl Baraka Islamic Bank yesterday announced that it was raising $200 million through trust certificates in a Sukuk Al Wakala issue which will mature in 2015. The 18-month sukuk is aimed at raising cash to help increase the bank' More… |
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Oman's Alizz Islamic Bank eyes Q3 launchOman's Alizz Islamic Bank , the second full-fledged Islamic bank in the sultanate, plans to begin operations in the third quarter of this year, chief operating officer Jamal Darwiche said. O More… |
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Bank mergers 'vital for fair competitiveness'Bahrain's financial institutions must seek more mergers to achieve fair competitiveness between Islamic banks and traditional ones, said Central Bank of Bahrain (CBB) Governor Rasheed Al Maraj. Maraj was speaking at the openin More… |
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Oman's Islamic banks get extension on overseas holdingsOman's central bank has granted Islamic banks a one-year relaxation of rules on the amount of foreign assets which they can hold, to give time for Islamic financial instruments to be developed domestically. Oman's first fu More… |
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GCC Islamic bank assets surge 14pc to $445bnThe Sharia-compliant assets at commercial banks in the GCC region climbed 14.1 per cent from a year earlier to $445 billion at the end of 2012, according to a report. While Islamic banking assets posted solid growth the conventional ban More… |
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Qatar to set up giant global Islamic bankQatar, the world's largest exporter of natural gas, expects to go ahead soon with its plan to establish a big, international Islamic bank, said Finance Minister Youssef Kamal on Monday. Last April the Qatari government had sig More… |
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BLME registers $10.9m operating profitBLME, the largest Islamic bank in Europe whose main shareholders are Kuwait's Boubyan Bank and the Kuwaiti Public Institution for Social Security, said its net operating profit before impairment charges in 2012 hit GBP7.3 million ($10.9 mill More… |
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Ithmaar reports $26m loss in 2012Ithmaar Bank, a Bahrain-based Islamic retail bank reported today a net loss of BD10.1 million ($26.6 million) in 2012, compared to a net loss of BD23.3 million in 2011. The turnaround in profit before impairment and taxation with More… |
