Islamic Bank of Britain (IBB), the UK’s only wholly Sharia compliant retail bank, has announced plans to change its name to Al Rayan Bank.
Subject to formal shareholder approval, the change will be completed in December, sai
British bank Standard Chartered will pay $327 million to resolve allegations that it violated US sanctions and other laws, the Federal Reserve said on Monday.
The bank will pay $100 million to resolve allegations by the US Federal
The Middle East will be an important growth area in coming years for investment banks, including Barclays, as local wealth funds put their oil dollars to work buying European assets, a senior executive at the British bank said.
Qatar has signed a deal to co-invest $250 million with Barclays' natural resources private equity investment unit, underlining the state's desire to plough some of its commodity wealth back into the sector.
The Qatar Financial Centre Authority is set to announce an asset management transaction with British bank Barclays, sources familiar with the matter said on Monday.
The deal is likely to be unveiled at a news conference called later in the
Struggling British lender Lloyds Banking Group is in talks to dispose of its operations in the UAE, with Abu Dhabi Commercial Bank emerging as the frontrunner to pick up the business, sources told Reuters on Monday.
The bank, which is 40 p
New British bank venture NBNK is interested in joining the bidding for state-owned lender Northern Rock, sources said.
The move raises the possibility that NBNK could combine Northern Rock with around 630 Lloyds bank branches it is also ey
Britain's banks face some of the world's toughest regulations under reforms outlined on Monday that require them to insulate their retail lending activities and store up billions in extra capital.
Finance minister George Osborne sa
British bank Lloyds took a shock 3.2 billion-pound ($5.3 billion) charge on Thursday to compensate consumers for mis-selling debt repayment insurance policies and also suffered another hit from Ireland's woes.
Lloyds, Europe's sixth bigges