Banking & Finance

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Conversions of conventional banks into Islamic ones are rare but not unprecedented.
October 23, 2014 - 17:41 GMT
The Council of Senior Scholars, said investing in NCB's share offer was not permissible because too much of its business was non-Islamic.

August 3, 2014

Faisal Aqil, Deputy CEO - Consumer Wealth Management, Emirates Islamic
11:18 GMT
(press release)

Emirates Islamic launched an exclusive campaign in collaboration with MasterCard, to encourage debit card use by customers travelling abroad, with the chance for one lucky customer to win a Mercedes-Benz SLK200 roadster.

During the event
06:24 GMT
(press release)

Jordan Ahli Bank recently inaugurated its 55th branch in Irbid’s Industrial Zone.

During the event
05:55 GMT
(press release)

Al Hilal Bank, the progressive Islamic bank, once again celebrated Ramadan with a special campaign called ‘Jood Bil Khair’ (‘do good’) which eventually donated AED 1 million to over 10 charities across the UAE.

July 31, 2014

Exchange houses recorded a significant increase in remittances from the UAE during Ramadan as expatriates sent additional money to their home countries for Eid spending.
04:55 GMT

“There was an increasing trend of expatriates starting to save and send back more money from June onwards, to set the festive mood and bring smiles to their families and friends back home.”

July 30, 2014

The line provides reassurance about Morocco's economic policies to foreign lenders, investors and rating agencies, allowing it to tap international capital markets at favorable borrowing terms.
04:55 GMT

The International Monetary Fund said on Monday it will provide Morocco a $5 billion credit line to help the North African country pursue a reform agenda to achieve rapid and more inclusive economic growth.

July 29, 2014

Gulf International Bank
10:14 GMT
(press release)

Gulf International Bank B.S.C. (GIB) reported consolidated net income after tax of US$50.2 million for the six months ended 30th June 2014, compared to US $60.6 million in the prior year period. Net income after tax in the second quarter was US$21.1 million.

July 27, 2014

CIMA
09:43 GMT
(press release)

The Chartered Institute of Management Accountants (CIMA) has announced several new opportunities for students and professionals across the GCC to acquire the globally certified qualification at special rates if enrolled before 31 July 2014.

During the event
05:52 GMT
(press release)

Gulf Bank is welcoming its third batch of eager young adults that will be undergoing a 5 week Internship Program via ‘Lothan Youth Achievement Center’ (LOYAC) which specializes in preparing youth in Kuwait to assume leadership roles in their future careers.

July 24, 2014

Emirates NBD profits were helped by revenue growth in Retail Banking & Wealth Management, along with the Islamic banking subsidiary, Emirates Islamic (File/AFP)
13:55 GMT

The UAE's largest bank, Emirates NBD, reported a net profit growth of 30 percent for the first half of the year.

KIPCO is Kuwait's largest privately owned investment company (Image: URC)
12:22 GMT

Kuwait's largest privately owned investment company said it was on track to meet the target of a double-digit rise in revenue this year.

Dr. Adnan Chilwan, Chief Executive Officer at Dubai Islamic Bank
06:46 GMT
(press release)

The Government of Pakistan has appointed the consortium headed by Dubai Islamic Bank (DIB) as the Financial Advisor on the Restructuring of Pakistan International Airlines Corporation.

July 23, 2014

Mr. Majed Essa Al Ajeel, Chairman of Burgan Bank Group
09:55 GMT
(press release)

Burgan Bank Group announced its first half results for the financial year 2014. Burgan Bank Group reported net income of KD33.3 million for the first half of the financial year 2014 reflecting 19.4% growth.

Sharjah Islamic Bank
06:27 GMT
(press release)

Sharjah Islamic Bank announced its 1st Half 2014 results with Net Profits reaching AED 202.1 million, compared to 134.7 million achieved in the same period last year, a 50% growth rate.

The Bank continued to show its support to the national agenda by appointing Abdul-Qader Al Sumali and Sulaiman Al-Lamki into senior executive positions.
04:05 GMT

HSBC Bank Oman continued its branch investment programme with more branches refurbished to help deliver the best in-branch customer experience

July 22, 2014

Sharjah Islamic Bank
06:25 GMT
(press release)

Sharjah Islamic Bank has launched their Splendid Summer Offer – a new highly competitive personal finance product with the lowest rates ever, starting from only 2.99%.