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Currency and Banking

in the number of Islamic banks operating in Bahrain that do prohibit the use of interest. In 1996 Citibank opened an Islamic bank.  Bahrain has a well-developed commercial banking sector which includes many ... developments. Additionally, there are several Islamic banks and financial institutions that constitute ...

16/08/2010 - 00:12 - comment 0

Kuwait Finance House inaugurates Bahrain subsidiary

Nearly 50 of these institutions are OBUs.    One of the largest Islamic financial institutions ... commercial branch of the Islamic bank will foc The Kuwait Finance House (KFH) has ... branch of the Islamic bank will focus on corporate finance, global and direct investment and treasury ...

15/08/2010 - 13:59 - comment 0

Bahrain’s banking sector records $377 million profits for 1H 2003

Profits of Islamic OBUs rose 63 percent to $8.5 million during the first half of 2003, from $5.2 million ... Bahrain-incorporated commercial, investment and offshore banks, both conventional and Islamic, posted profits ... that 29 Bahrain-incorporated commercial, investment and offshore banks, both conventional and Islamic ...

15/08/2010 - 12:34 - comment 0

Bahrain's banking sector profits more than doubled in 2003

billion at 2003-end, compared with US$996 million at 2002-end.     Profits of Islamic OBUs grew 59 ... and offshore banks, both conventional and Islamic, posted net profits totaling $714.8 million for 2003, ... commercial, investment and offshore banks, both conventional and Islamic, posted net profits totaling $714.8 ...

15/08/2010 - 12:17 - comment 0

Bahrain licenses new offshore operations

(BMA) has licensed three financial institutions to open Offshore banking units (OBUs) in the tiny ... of these institutions are OBUs.    An OBU will be launched by Turkey's wholesale bank Turk Ekonomi Bankasi ... is the host of the largest concentration of Islamic banks and other financial institutions in the Middle East. ...

15/08/2010 - 14:00 - comment 0

BMA issues first volume of Rulebook

banking units (OBUs) and investment banks (IBs).    Work is also progressing on Volume 2, for Islamic financial institutions, and Volume 3, for insurance firms. BMA expects to issue these in January ...

15/08/2010 - 11:31 - comment 0

Bahrain strives to become private banking hub

commercial banks, offshore banking units (OBUs) and investment banks, assesses the volume of assets held ... of which 80 percent is held by GCC HNWIs. The demand for Islamic private banking services is also growing ...

15/08/2010 - 12:57 - comment 0

BMA developing new, flexible licensing framework

services, as follows: Block 1:  Regulated deposit-taking servicesBlock 2:  Regulated Islamic finance ... insurance. The new framework will reduce the restrictions on offshore banking units (OBUs) in dealing in the local market by offering OBUs and investment banks the option of selecting the activity of wholesale ...

18/05/2010 - 13:29 - comment 0

Bahrain: Legal, Bank & Trade Systems

few years, however, there has been a rise in the number of Islamic banks operating in Bahrain that do prohibit the use of interest. In 1996 Citibank opened an Islamic bank.    Bahrain has ... there are several Islamic banks and financial institutions that constitute a significant factor in the financial ...

16/08/2010 - 00:12 - comment 0