Saturday 10 December 2016
 
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banking

ICD to implement new Islamic finance model

The Islamic Corporation for the Development of the Private Sector (ICD) has signed an agreement with AlHuda Center of Islamic Banking and Economics (CIBE) to implement its new banking model. The Islamic Corporation for the Develop

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Bank of Singapore to open branch in DIFC

Bank of Singapore today announced that it has been granted a Category 4 licence to operate a branch in the Dubai International Financial Centre (DIFC), Dubai. This allows Bank of Singapore to offer a comprehensive range of customi

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Emirates NBD launches first pilot blockchain network

Emirates NBD today announced the successful launch of the bank’s pilot blockchain network for banking services, a first for a private sector entity in the UAE. The bank, a front-runner in digital banking solutions and a memb

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QNB nine-month profit jumps to $2.7bn

QNB Group, the largest bank in the Middle East and Africa (MEA) region, posted a net profit of QR9.7 billion ($2.7 billion) for the first nine months of 2016, up 11 per cent compared to the same period last year. Total assets reac

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Investcorp buys 10 new properties in US

Investcorp, a leading provider and manager of alternative investment products, today announced that its US-based real estate arm has acquired five multifamily apartment complexes and five student housing properties in several major metropolitan

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Investcorp buys 10 new properties in US

Investcorp, a leading provider and manager of alternative investment products, today announced that its US-based real estate arm has acquired five multifamily apartment complexes and five student housing properties in several major metropolitan

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China uncovers $30bn worth of illegal banking activity

Chinese police have this year uncovered $30 billion worth of illegal banking activity, involving 158 cases of underground banks and money laundering, the official Xinhua news agency reported the Ministry of Public Security (MPS) as saying late o

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Al Baraka Banking Q2 net profit dips

Bahraini Islamic lender Al Baraka Banking Group reported a 2.8 percent dip in second-quarter net profit on Sunday. The bank, which has operations in more than a dozen countries, made a net attributable profit of $43.6 million in t

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Cyber thieves exploit banks' faith in SWIFT

Shortly after 7 pm on January 12, 2015, a message from a secure computer terminal at Banco del Austro (BDA) in Ecuador instructed San Francisco-based Wells Fargo to transfer money to bank accounts in Hong Kong. Wells Fargo complie

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Qatar First Bank launches new private banking platform

Qatar First Bank, a leading Shari’ah compliant bank in Qatar, has developed a new open architecture private banking platform which allows shareholders and clients to grow, manage and protect their wealth and assets. Supported by a

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