Thursday 29 September 2016
 
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Islamic bank

Abu Dhabi, Bahraini firms to set up $100m Islamic bank

Abu Dhabi Financial Group (ADFG) and Bahrain's GFH Financial Group are jointly setting up an Islamic bank in Abu Dhabi's new financial free zone with initial capital of $100 million, ADFG's chief executive told Reuters on Monday.

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Al Baraka eyes French, Indonesian markets

Bahrain's Al Baraka Islamic Bank plans to open a sharia-compliant bank in France next year as the lender seeks to expand into Europe, its chief executive Adnan Ahmed Yousif said on Sunday. France has one of the largest Muslim

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Tadhamon exits investment in UK school

Tadhamon Capital, the Bahrain-based investment arm of Tadhamon International Islamic Bank, announced the successful exit from its investment in Coxlease School in Lyndhurst, Hampshire, UK. The school is a specialist residential ed

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Sudanese lender to open Bahrain branch

Sudanese Bank of Khartoum, has launched its first overseas branch office in Bahrain.   The new entity, known as Bank of Khartoum International (BOK-I), was recently awarded the Islamic banking licence by the Cent

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Ibdar Bank H1 revenues up 51pc to $11m

Bahrain-based Ibdar Bank, a wholesale Islamic investment bank, has reported total revenues of $11.1 million during the first half of the year, an increase of 51 per cent above the prior-year period in 2014. Total profits for the p

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Ithmaar Bank H1 net profit soars 634pc

Ithmaar Bank, a Bahrain-based Islamic retail bank, has posted a net profit of $13 million for the first half of 2015, as compared to a net profit of $1.77 million for the same period last year, marking a rise of 634 per cent. Net

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Abu Dhabi Islamic Bank eyes expats as industry growth slows

Abu Dhabi Islamic Bank will focus on winning more business in the United Arab Emirates' expatriate community this year as growth in the national banking sector slows, chief executive Tirad Mahmoud said. Total UAE banking secto

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Barwa Q3 net profit surges 43pc

Qatar-based Barwa Bank has registered a 43 per cent jump in its net profit for the third quarter which hit QR641 million ($176 million) compared to QR447 million ($123 million) for the same period last year. Qatar’s fastest

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DIB, Air Arabia sign $230m aircraft financing deal

Dubai Islamic Bank (DIB) and Sharjah-based Air Arabia have signed a $230 million aircraft financing deal to facilitate the delivery of six new Airbus A320 aircraft in 2015. The signing ceremony was held in the DIB head office in the pre

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Islamic bankers association gets 6 new members

The Association of National Development Finance Institutions in Member Countries of Islamic Development Bank (Adfimi) has accepted the membership of six new banks including a Jordanian lender and two Sudanese banks. The new member

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