Friday 1 August 2014
 
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Islamic

Dubai Islamic Bank profit surges 59.6pc

Dubai Islamic Bank (DIB), the UAEs' largest sharia-compliant lender, posted a 59.6 per cent jump in its second-quarter net profit, aided by higher fee and investment income. Beating analysts' forecasts, the bank made 667.5

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Iraqi women to 'wear full veil or face punishment'

Islamic State, the Al-Qaeda offshoot that seized large swathes of northern Iraq last month, has warned women in the city of Mosul to wear full-face veils or risk severe punishment.  

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Rise of Islamic State tests Syrian army strategy

The growing power of the ultra-hardline Islamic State means the Syrian army is now having to confront a group it has until now been reluctant to attack for political reasons.  

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Islamic finance body IILM re-issues $890m sukuk

Malaysia-based International Islamic Liquidity Management Corp (IILM) has reissued $860 million of its three-month Islamic bond, the organisation said on Thursday.   The three-month sukuk, rated A-1 by Standard a

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Islamic finance council to finalise 'strategic plan'

Bahrain-based General Council for Islamic Banks and Financial Institutions (CIBAFI), a global umbrella organisation of Islamic financial institutions, is set to finalise its Strategic Plan 2015-2018 by the end of the year.  

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Bahrain in deal to promote SMEs growth

The Economic Development Board (EDB) has signed an agreement with the Islamic Corporation for the Development of the Private Sector to promote the growth of small and medium enterprises (SMEs) in Bahrain. This will be done by prov

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Kuwait's CBK gets nod for $425m bond

Commercial Bank of Kuwait, the country's fifth-largest lender by assets, has received regulatory approval to issue up to 120 million dinars ($425.8 million) of bonds, as it prepares to convert into an Islamic bank. In April, C

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Airbus, IDB back Islamic aircraft leasing fund

Airbus Group and the Jeddah-based Islamic Development Bank (IDB) are seeding a sharia-compliant aircraft leasing fund to cater to growing demand for commercial financing from airlines in the Middle East, Asia and Africa. The fund,

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Dutch firms hit by Saudi retaliation over anti-Islam campaign

Dutch companies are facing problems doing business in Saudi Arabia after the Saudis imposed sanctions in response to anti-Islamic stickers distributed by populist politician Geert Wilders, the Dutch foreign minister said. Foreign

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Khaleeji launches Islamic investment account

Khaleeji Commercial Bank (KHCB), a Bahrain-based Islamic retail bank, has announced the launch of an investment account based on the Sharia principle of Mudharabah. The Call Mudharabah Account combines the flexibility and convenie

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