Islamic Finance News
- NBAD H1 net profits rise 58% to Dhs1.876m Saturday, July 26, 2008 @ 3:09AMThe Board of Directors of NBAD discussed the first half results, and reported net profits of Dhs1,876m for the first half of 2008, 58% above the 1st half of 2007.
- Islamic finance seen safe amid lingering global credit crisis Saturday, July 26, 2008 @ 1:37AMLONDON: Stable and conservative Islamic finance is attracting investors scared off by the global credit crisis, the chief executive of new UK Islamic bank Gatehouse said.
- Doha Bank defers $1b sukuk plan Friday, July 25, 2008 @ 9:30PMSEOUL - Qatar’s Doha Bank has put on hold a plan to sell a $1 billion global Islamic bond (sukuk) to finance investments in renewable energy because of poor funding market conditions, its chief executive said yesterday.
- Credit crisis-hit investors turning to Islamic finance Friday, July 25, 2008 @ 9:15PMLONDON: Stable and conservative Islamic finance is attracting investors scared off by the global credit crisis, the chief executive of new UK Islamic bank Gatehouse said. Islamic finance has been growing rapidly in the past few years.
- Doha Bank defers $1bn Sukuk sales Friday, July 25, 2008 @ 8:50PMSEOUL • Qatar’s Doha Bank has put on hold a plan to sell a $1bn global Islamic bond to finance investments in renewable energy because of poor funding market conditions, its chief executive said yesterday.
- Local calendar, July 25 Friday, July 25, 2008 @ 1:05PMTONIGHT Redlands Bowl Summer Music Festival presents "The Wizard of Oz," 8:15 p.m. at the Redlands Bowl.
- DBP plans to raise P7.7 B from Tier-2 issue Friday, July 25, 2008 @ 11:49AMThe Development Bank of the Philippines (DBP) is planning to raise P7.65 billion in fresh capital from the issuance of Tier-2 notes to help finance its lending programs.
- IDB Launches First Local Currency Sukuk Programme Friday, July 25, 2008 @ 9:11AMKUALA LUMPUR, July 25 (Bernama) -- The Jeddah-based Islamic Development Bank (IDB) has established its first local currency Sukuk programme with the signing of the RM1 billion programme documents, Ahmed S. Hariri, IDB regional office director in Kuala Lumpur said Friday.
- EON BANK GROUP Appoints SAS for Banking Intelligence Solutions Friday, July 25, 2008 @ 8:00AM KUALA LUMPUR, Malaysia----EON Bank Group has embarked to transform its business by adopting an aggressive technology growth through partnership with SAS Malaysia.
- IDB LAUNCHES FIRST LOCAL CURRENCY SUKUK PROGRAMME Friday, July 25, 2008 @ 6:23AMKUALA LUMPUR, July 25 (Bernama) -- The Jeddah-based Islamic Development Bank (IDB) has established its first local currency Sukuk programme with the signing of the RM1 billion programme documents, Ahmed S. Hariri, IDB regional office director in Kuala Lumpur said today.
- 25-07-2008: RM1.2b of financial facilities for SMEs Friday, July 25, 2008 @ 2:33AMKUALA LUMPUR: Bank Negara Malaysia (BNM) will establish RM1.2 billion worth of financial facilities to assist small and medium enterprises (SME) to manage rising business costs.
- Students to hone banking skills Thursday, July 24, 2008 @ 8:18PMMANAMA: Al Salam Bank-Bahrain kicked off its summer internship programme with more than 20 university students from Bahrain attending. The programme will last for two months. The trainees have been allocated to different departments within the bank with a dedicated mentor for each one of them.
- Bubble trouble? Thursday, July 24, 2008 @ 8:14PMThe real estate trade in Bahrain and across the Gulf is booming - but experts say it is a bubble waiting to burst.
- Bahrain National Holding records BD2m net profit in first half Thursday, July 24, 2008 @ 5:06AMBahrain National Holding records BD2m net profit in first half
- Halal Industry in the ME estimated to be worth Dhs73bn Thursday, July 24, 2008 @ 3:32AMThe Halal industry in the Middle East is estimated to be worth more than Dhs73bn in 2008, according to recent industry reports.
- 24-07-2008: There’s still value in Malakoff papers Thursday, July 24, 2008 @ 2:56AMKUALA LUMPUR: Bondholders of Malakoff Corporation Bhd (Malakoff Corp) are holding on to bonds issued by the company, despite concerns over the earnings of the company as a result of the government imposing windfall tax on independent power producers (IPPs).
- GFH, partners plan to set up $5bn steel firm Thursday, July 24, 2008 @ 1:39AMDUBAI: Bahrain’s Gulf Finance House said yesterday it would set up a $5bn steel firm with partners to help meet growing demand for construction materials in the region.
- Gulf Finance House to create steel giant in MENA region Thursday, July 24, 2008 @ 1:15AMGulf Finance House to create steel giant in MENA region
- Patton Boggs expands presence in Middle East Thursday, July 24, 2008 @ 12:25AMPatton Boggs has opened an office in Abu Dhabi, United Arab Emirates, strengthening its presence in the Middle East, where it has conducted business for more than three decades.
- Qatar may be site of $5bn steel project Wednesday, July 23, 2008 @ 6:49PMdoha • Qatar could be one of the sites selected for a $5bn steel project which will serve the Middle East North Africa (MENA) region.
- UK-World Summary Wednesday, July 23, 2008 @ 5:31PMKaradzic to run his own defence
- Centres fight for Islamic finance as oil booms Wednesday, July 23, 2008 @ 3:19PM With conventional sources of cash depleted by credit crunch, oil-rich Gulf markets are one of the few reliable sources of finance. Top 5 banking major losers of Wall Street
- Patton Boggs Expands Presence in Middle East Wednesday, July 23, 2008 @ 11:10AM Patton Boggs has opened an office in Abu Dhabi, United Arab Emirates, strengthening its presence in the Middle East, where it has conducted business for more than three decades.
- $5 bln Gulf steelmaker planned Wednesday, July 23, 2008 @ 11:08AM(Recasts after interview with executive, adds details)
- Jordan Cracks Down On Islamic Support Network Wednesday, July 23, 2008 @ 7:55AMAMMAN [MENL] -- Jordan has launched a crackdown on an Islamic network meant to recruit and finance attacks against Western tourism. Jordanian security sources said troops have been raiding the Palestinian refugee camp of Baqaa over the last week.
- Oman Air carried 50% more passengers in first half Wednesday, July 23, 2008 @ 2:36AMOman Air carried 50% more passengers in first half
- Bahrain- KFH Automall receives good sales response Wednesday, July 23, 2008 @ 2:35AMBahrain- KFH Automall receives good sales response
- Curbs to hurt world finance: bank Wednesday, July 23, 2008 @ 1:39AMTEHRAN: Any US move to impose sanctions on the Central Bank of Iran could add to the woes of the world’s financial system although the Islamic Republic will find ways to protect its assets, the governor told Reuters.
- Ramzy rule Tuesday, July 22, 2008 @ 8:24PMNoted percussionist Hossam Ramzy is a man on a mission to redefine the teaching of music.
- Car finance joy for raffle winner Tuesday, July 22, 2008 @ 8:16PMTHE latest winner of the monthly Bahrain Islamic Bank car finance raffle draw is Warda Abdali Mohamed, who will be exempted from paying the balance on her car loan.
- Democrats will be known for Iraq surrender; Time now for homeland defense Tuesday, July 22, 2008 @ 1:33PMThe Israeli military has been arresting directors of charities and other businesses charged with relaying funds to Hamas. On July 21, at least 17 people were detained in the West Bank city of Nablus and charged with funding Hamas.
- GFH net profit up 41% to $104m in Q2- Bahrain Tuesday, July 22, 2008 @ 5:53AMGFH net profit up 41% to $104m in Q2- Bahrain
- Bahrain- Addax conducts six-day Islamic finance course Tuesday, July 22, 2008 @ 5:52AMBahrain- Addax conducts six-day Islamic finance course
- UAE bourses pick up pace, BSE loses Tuesday, July 22, 2008 @ 5:12AMUAE bourses pick up pace, BSE loses
- Dubai Islamic Bank launches 2nd Al Islami Festival Tuesday, July 22, 2008 @ 5:02AMDubai Islamic Bank (DIB) has announced the launch of the 2nd Al Islami Festival, a season of special promotions and prizes.
- Can Saudi banks afford the mortgage law? Tuesday, July 22, 2008 @ 4:17AMFor a large country with a big population, home ownership in Saudi Arabia is relatively small.
- al khaliji announces its interim results and the appointment of its Executive, Islamic Banking Tuesday, July 22, 2008 @ 3:17AMal khaliji uveiled its interim results for the 6 months ending 30 June 2008, demonstrating sustained investment for growth in the bank across its regional businesses.
- Gulf Finance House Q2 profit jumps on fees, new projects Tuesday, July 22, 2008 @ 1:51AMDUBAI: Bahraini Islamic investment bank Gulf Finance House posted its third-biggest quarterly profit ever in the second quarter on higher fee income from infrastructure projects and its start-up businesses.
- Doha Bank net profit rises 25% to QR579mn in H1 Tuesday, July 22, 2008 @ 1:48AMDOHA: Doha Bank’s net profit in the first half grew 25% to QR579.27mn on faster growth in interest earnings, Islamic financing and gains from foreign exchange activities.
- Dubai Islamic Bank establishes new subsidiary Monday, July 21, 2008 @ 10:05PMDubai Islamic Bank has established a new subsidiary, Dar Al Sharia Legal and Financial Consultancy, to offer Shariah-compliant legal and financial consultancy services for Islamic financing and investment transactions at the global level.
- PRESS DIGEST-Indonesian newspapers - July 22 Monday, July 21, 2008 @ 9:57PM Source: Reuters Following are some leading stories in the main Indonesian newspapers on July 22. Reuters has not verified these stories and does not vouch for their accuracy. Telephone: Editorial: +62-21-384-6364. ...
- Law firm is retained to advise on key UK fund Monday, July 21, 2008 @ 9:17PMMANAMA: International law firm Trowers & Hamlins has been retained by Gulf Finance House (GFH), to advise on its Sharia-compliant UK commercial property fund.
- BSN hopes to reduce level of gross NPLs to 6% Monday, July 21, 2008 @ 7:02PMKUALA LUMPUR: Bank Simpanan Nasional Bhd (BSN) aims to reduce the level of its gross non-performing loans (NPLs) to 6% this year, deputy chief executive for finance and banking operation, Hasan Mohamed said.
- LHC stays luxury tax on over 2000CC cars Monday, July 21, 2008 @ 6:39PMISLAMABAD (July 22 2008): Lahore High Court has barred the Punjab government from levying luxury tax retrospectively on luxurious vehicles over 2000CC registered after June 30, 2005 under the Punjab Finance Act, 2008. Sources told Business Recorder on Monday that provincial government has levied luxury tax through Section 6 of the Punjab Finance Act, 2008.
- Dubai Islamic Bank live with Flexcube Monday, July 21, 2008 @ 12:22PMDubai Islamic Bank (DIB) and i-flex solutions announced that it has adopted FLEXCUBE Islamic Banking across all its branches and Networks.
- GFH announces second quarter profits of US$ 104 million, up 41% from Q2 2007 Monday, July 21, 2008 @ 9:26AMManama, Bahrain - Gulf Finance House has posted second quarter profits of US$ 104 million, up 41% from same quarter last year. Half year 2008 profits stand at US$ 220 million, up 51% from the same time last year.
- Credit Agricole fund arm keen to enter India Monday, July 21, 2008 @ 9:06AMBy Jeffrey Hodgson
- UPDATE 1-Credit Agricole fund arm keen to enter India Monday, July 21, 2008 @ 9:05AM(Refiles to insert dropped word "arm" in first paragraph)
- Amlak Finance (Jordan) PLC Officially Established Monday, July 21, 2008 @ 8:11AMAmman, Jordan - July 21, 2008: Amlak Finance (Jordan) PLC - previously Inwan Investment PLC - was officially established during the recently held Extraordinary General Meeting (EGM), which was attended by a large number of shareholders and organized at the Sheraton Hotel- Amman.
- Amlak Finance (Jordan) PLC officially established Monday, July 21, 2008 @ 7:47AMAmlak Finance (Jordan) PLC - previously Inwan Investment PLC - was officially established during the recently held Extraordinary General Meeting (EGM), which was attended by a large number of shareholders and organized at the Sheraton Hotel- Amman.
