Korea is hoping to attract funds from oil-rich Middle East countries by setting up a local Islamic bank in the country, but the effort is still facing many challenges.
Al Amir Bank would be based on the principles of Islamic Shariah law, which bans cha…
Standard Chartered Bank today announced the launch of the first Islamic US Dollar Nostro Account in the United States.
Islamic banks across the world will now be able to earn Shariah-compliant profits on their account balances at Standard Chartered Ba…
Property developer Nakheel NAKHD.UL plans to issue a 6 billion dirham Islamic bond as part of its debt repayment plan as it restarts several key projects. Under Nakheel’s restructuring plan, trade creditors have been offered 40 percent of what they are…
Nigeria, Africa’s second-largest economy and home to 75 million Muslims, plans to sell its first Islamic debt within 12 months as part of a bid to become the continent’s center for Shariah-compliant financing.
The West African country is seeking to…
Abu Dhabi Islamic banking is growing at a fast pace and its size globally is expected to reach $2.7 trillion (Dh9.9 trillion) by 2015. Abu Dhabi Islamic Bank announced the launch of its wealth management service that will cater to the needs of mass, af…
Abu Dhabi Islamic Bank, a top-tier Islamic financial services group, today announced the launch of its Wealth Management service that will cater to the increasingly discerning needs of mass, affluent and high net worth customers. The service will offer…
The emirate of Dubai is named after the daba, a desert locust that eats everything in its path.
For three decades, Dubai gorged first on oil, then on credit. Swarms of expatriates — reportedly as many as a thousand a week — came to the feast.
But wit…
The emirate of Dubai is named after the daba, a desert locust that eats everything in its path.
For three decades, Dubai gorged first on oil, then on credit. Swarms of expatriates — reportedly as many as a thousand a week — came to the feast.
But wit…
The report pointed out that Kuwait ranked first among the GCC countries in terms Islamic banks assets to total banking assets, while Saudi Arabia and the UAE have risen among the countries that promote Islamic finance products and services. It added t…
With high net worth individuals (HNWIs) in the GCC are seen as the most active in management their wealth during later life, over 90 percent reject the idea of getting retire, according to Barclays Wealth latest Insights report.
The report titled The A…
