Monday 30 May 2016
 
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Islamic

Turkey, IDB plan regional Islamic 'megabank'

Turkey will partner with the Islamic Development Bank to create a regional Islamic finance "megabank", Turkish Deputy Prime Minister Mehmet Simsek said on Wednesday, as part of a government drive to become a powerhouse in Islamic finan

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Qatar Islamic Bank's UK unit fined nearly $2m

The Bank of England said that it had fined QIB (UK), a subsidiary of Qatar Islamic Bank, for failings in reporting its financial resources to the regulator in 2011 and 2012.   The bank's Prudential Regulatory

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TCA Abu Dhabi names 'Personality of the Year'

Abu Dhabi Tourism and Culture Authority (TCA Abu Dhabi) is set to name the Arabic-Islamic philosopher Ibn Rushd as the 'Personality of the Year' at this year’s Abu Dhabi International Book Fair (ADIBF).  

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Dubai Islamic hires banks for benchmark sukuk

Dubai Islamic Bank has mandated Bank ABC, DIB, Emirates Islamic Bank, HSBC, NBAD, Sharjah Islamic and Standard Chartered to arrange fixed income investor meetings in London on March 21.   A US dollar Reg S senior

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Al Khodari renews $45m Islamic credit facility

Saudi Arabia construction firm Abdullah Abdul Mohsin Al-Khodari and Sons has announced the renewal of its Islamic credit agreement with National Commercial Bank. The SR170 million ($45 million) funding will be used to provide bond

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Al Baraka units win Islamic Finance awards

Al Baraka Banking Group, a Bahrain-based leading Islamic banking group, said five of its units won Islamic Finance News Awards 2015 as the ‘Best Islamic Banks’ in the region through the annual comprehensive referendum, conducted by

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IRTI, CIBAFI in deal to set up Islamic finance data repository

The Islamic Research and Training Institute (IRTI), a member of the Islamic Development Bank Group, and the General Council for Islamic Banks and Financial Institutions (CIBAFI), the global umbrella of Islamic financial institutions, have sign

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UN aims to air drop food to IS-besieged city in Syria

The United Nations plans to make its first air drops of food and other aid in Syria, to Deir Al-Zor, an eastern city of 200,000 besieged by Islamic State militants, the chair of a UN humanitarian task force said.  

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US bank CEO wins Islamic finance contest at Ethica

An American bank's chief executive officer scored the highest mark on the Certified Islamic Finance Executive (CIFE) examination to win Ethica's 'Weekend in Dubai' competition.   David Loundy, cha

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Moroccan bank BCP to invest $41m in Islamic unit

Banque Centrale Populaire (BCP), one of Morocco's three biggest banks is preparing to invest 400 million dirhams ($41 million) in an Islamic subsidiary, a director of the bank said. Islamic banks and insurers are being establi

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