08/20/2020
Al Salam Bank-Bahrain launches new mobile application
New app is just the latest instalment in the ongoing rollout of the bank’s digital strategy
Islamic Finance
08/19/2020
Islamic banking boosts economies in the Middle East and North Africa
They can increase the savings of people who refrain from keeping money on deposit in conventional banks, which consistently increases the number of domestic savings and the share of financial intermediation.
08/19/2020
Al Salam Bank reports BD 7.1 million net profit in first half of 2020
Total operating income for H1 2020 improved by 10% to BD 50.2 million, up from BD 45.6 million in the same period of 2019.
08/19/2020
Qatar’s Islamic banks fare well in 2019 balance sheet growth
The major three banks, which cover around 69% of the total banking sector assets, recorded a growth of 6.5% significantly higher than the banking sector average.
08/17/2020
Algeria turns to Islamic finance to prop up economy
Some Muslims believe that the traditional banking system is incompatible with their faith.
08/17/2020
DIB Egypt's profit down 19% in H1-20
The lender’s net interest income increased
08/17/2020
QIB continues to introduce new features on its award-winning mobile application
This solution allows QIB eligible customers to postpone their next three months’ personal finance installments and provides them the option of adjusting the new financing to take place after the maturity of their existing finance terms.
08/14/2020
Bank ABC Islamic announces first half 2020 net profit of US$14.5 million
Net profit for the first half was US$14.5 million compared to US$18.9 million reported in the first half of last year.
08/14/2020
Meet your business goals with Maisarah commercial finance
The commercial finance product adds to the diverse range of Shariah-compliant financial solutions, innovative products and best-in-class services that Maisarah offers to cater to the needs of its retail and corporate customers.
08/13/2020
Abu Dhabi Islamic Bank reports H1 2020 net profit of AED587.6 million
In the first half of the year, we recorded high levels of digital adoption across our retail and corporate banking, and nearly 60% of all our customers are now banking digitally.
08/13/2020
Al Baraka Banking Group first-half profit falls as pandemic provisions soar 345%
Total assets nudged down by 1% to $26.13 billion from $26.26 billion at the end of 2019. The Group said it focused on maintaining a large portion of these in liquid assets amid challenges faced during the COVID-19 pandemic.
08/07/2020
Bahrain's Sukuk Al Ijara oversubscribed
The expected return on the issue, which begins today and matures on February 4 next year, is 2.50% compared to 2.58 of the previous issue on July 9
08/07/2020
Kuwait's KFH Q2 net income drops on rise in impairment charges
The lender postponed its merger with Bahrain's Ahli United Bank earlier this year
08/06/2020
Mideast Islamic banks, investors urged to expand operations to Philippine market
During the event, Ala highlighted the new law Republic Act No.11439 or ‘An Act Providing for the Regulation and Organization of Islamic Banks’ and discussed the guidelines for establishment of Islamic banks and Islamic banking units in the Phi
08/06/2020
Fitch Named Best Islamic Finance Rating Agency for Fourth Year
Fitch rates more Islamic banks than any other global credit rating agency, covering more than 35 Islamic finance-based issuers worldwide and more than 140 outstanding Islamic finance instruments.
08/03/2020
Islamic finance seen as driver for FDI inflow to Philippines, say govt officials
“Islamic banking will surely help Peza achieve its vision in promoting economic growth in the countryside,”
07/30/2020
UAE Islamic insurance in throes of consolidation
‘At a time when the market is experiencing a gap in services and offerings compliant with Shariah rules’
07/23/2020
Qatar- QIIB posts QR512.6mn half-yearly net profit assets top QR59bn
QIIB chief executive officer Dr Abdulbasit Ahmad al-Shaibei said the bank's total revenues for the first half (H1) amounted to QR1.21bn, up 5.7% on QR1.14bn on the same period last year.
07/23/2020
Sharjah Islamic Bank reports Dh251.2m net profit in first half 2020
Sharp rise in loan impairments resulted in decline profits
07/22/2020
IslamicMarkets.com and DDCAP strengthen collaboration with second round of strategic investment
The latest funding means that the company will continue to strengthen the platform, as well as expanding to new regional markets