Banking & Finance

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Conversions of conventional banks into Islamic ones are rare but not unprecedented.
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 26, 2013

Sawsan Abulhassan, Deputy Group CEO, Private Banking and Wealth Management, Ahli United Bank B.S.C
09:58 GMT
(press release)

Ahli United Bank has been recognized as the region’s top bank for asset management, as revealed by the MENA Asset Managers Survey.

August 25, 2013

During the event
08:36 GMT
(press release)

UAE’s oldest savings scheme MashreqMillionaire announced two winners for the month of July, walking away with AED 1 Million each.

Summer school at the Orthodox Club
06:40 GMT
(press release)

Aligned with its aims to support physical education, Jordan Ahli Bank recently sponsored the Summer School at the Orthodox Club.

Adnan Chilwan, CEO, DIB and Sami Abdullah Gargash, CEO, MRHE, sign the agreement
06:20 GMT
(press release)

Dubai Islamic Bank has announced an agreement with the Mohammed Bin Rashid Housing Establishment to assist UAE nationals fulfill their basic housing needs.

National Bank of Kuwait
05:42 GMT

National Bank of Kuwait has been listed among the 50 safest banks in the world. NBK ranked 37 on the list.

August 22, 2013

Oman has two full-fledged Islamic banks, Bank Nizwa and Al Izz Islamic Bank, as well as several Islamic windows from conventional lenders.
16:01 GMT

ODB, which had a net loan portfolio of 100 million rials ($260 million) as of August 2012, already offers interest-free loans of up to 5,000 rials but they are technically not sharia-compliant.

Al Hilal Bank campaign
11:45 GMT
(press release)

Al Hilal Bank has announced that its unique ‘Art of Donation’ charity campaign was a huge success particularly over the internet, where it received over 84,000 ‘smiles.’

August 21, 2013

Ahmad Al Naqbi, the Head of Strategic Business Ventures and Innovation at NBAD with the winners of International Transfer Campaign
09:09 GMT

The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, has awarded selections of iPhone 5, Samsung S4 and iPad to the top 30 winners of International Transfer Campaign.

August 20, 2013

United Arab Bank
10:59 GMT

United Arab Bank has introduced a free mobile banking app allowing its customers to have secure and easy access and a way of managing their accounts whilst on the move and unable to visit their bank and other off-site channels.

Emirates Islamic Bank
09:44 GMT
(press release)

Emirates Islamic Bank announced the successful completion of its foreign currency bank note exchange campaign.

August 19, 2013

09:29 GMT
(press release)

In line with its Corporate Social Responsibility, UAE’s leading financial institution Mashreq recently held initiatives to mark ‘Zayed Humanitarian Work Day’.

During the event
08:01 GMT
(press release)

HSBC Middle East have renewed their partnership for the second year in a row to empower 200 orphans and underprivileged youngsters.

August 18, 2013

The formal framework of the Central Bank’s policy remains unchanged with the exchange rate fixed at QAR 3.64/$1.
15:47 GMT

"The riyal's (QAR) peg to the dollar is the cornerstone of the country's monetary policy," The Peninsula newspaper reports the Qatar Central Bank (QCB) as stating.

Syrians will be able to buy dollars at 175 Syrian pounds, higher than the official rate but still cheaper than the black market – where the rate often reaches 200.
11:05 GMT

Syrian authorities have shut down a money exchange office in Damascus and made several arrests as a part of a campaign to curb illegal currency trading.

The TEPIX surpassed 60,000 on Saturday.
09:10 GMT

The total value of Iran’s capital market is half of the gross domestic product (GDP).