Saudi’s largest lender NCB posts 3.5% rise in Q4 profit
Saudi Arabia’s National Commercial Bank (NCB), the country’s largest lender, saw a 3.5 per cent rise in fourth-quarter net profit,…
Islamic Finance
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New Iraqi bank Al Mustashar goes live with ICSFS core system
ICS Financial Systems has announced that Al Mustashar Islamic Bank, a recently established bank in Iraq, is now operating on…
IIFM and BAFT Publish Shari’ah-Compliant MPA’s for Islamic Trade Finance Business
IIFM and BAFT have announced the release of their joint initiative of creating global master participation agreements to support the…
Al Salam Bank-Bahrain receives two top awards
Al Salam Bank-Bahrain has emerged as the winner of two prestigious awards: “Best Islamic Retail Bank – Bahrain” and “Most…
Standalone UAE Islamic banks unlikely to merge: analysts
Standalone Islamic banks in the United Arab Emirates are unlikely to merge among themselves while the overall banking sector moves…
DIB’s Mudarbak Sukuk Certificates oversubscribed
Dubai Islamic Bank Pakistan Limited announced the issuance of fully paid up, rated, perpetual, unsecured, subordinated, non-cumulative and contingent convertible…
Sukuk issuance holds steady
The global sukuk issuance in 2019 will average between US$105 billion and US$115 billion, with tightening liquidity conditions worldwide, high…
Emirates Islamic posts record $251m net profit
Emirates Islamic has announced a 32 percent jump in net profit to AED924 million ($251.5 million) for the fiscal year…
Qatar raises 4 billion riyals in five-year sukuk
Qatar's central bank issued five-year sukuk, or Islamic bonds, worth 4 billion Qatari riyals ($1.10 billion) and offering a 4.25…
Qatar Islamic Bank Q4 profit rises 19 pct
Qatar Islamic Bank (QIB), the Gulf state’s largest sharia-compliant lender by assets, reported a 19 percent rise in fourth-quarter net…
Dubai Islamic Bank starts marketing dollar sukuk
Dubai Islamic Bank, the United Arab Emirates' largest Islamic lender, on Wednesday started marketing U.S. dollar-denominated Islamic bonds with an…
BDB appoints new head of banking
The Bahrain Development Bank has announced the appointment of Raed Yousif Bukannan as Head of Banking. He will be…