Islamic Banking Department was set up in Pakistan on 15th September, 2003 and has been authorized with the task of promoting & developing the Shariah Compliant Islamic Banking as a parallel and compatible banking system in the country. Islamic Bank…
BankMuscat’s Board of Directors decided to arrange an independent Islamic banking window at the bank and launch Islamic banking operations in accordance with the injunctions of Shariah, subject to approval from the Central Bank of Oman.
The bank reveal…
Bank Sarasin-Alpen won the Best Islamic Wealth Manager award at the Islamic Business and Finance Awards 2011 that took place at the Emirates Towers Hotel, Dubai on 13th December, 2011 and was managed by CPI Financial. The award was handed to Rohit Wali…
Raub Australian Gold Mining Sdn. Bhd. („RAGM“) has started an agreement with Alkhair International Islamic Bank Berhad („AIIB“) for an Islamic working capital facility, known as a Murabaha Facility, (the „Facility“) of up to US$6 million.
The Facility …
Bahrain’s BMI Bank has signed a strategic agreement with regional insurer Medgulf Allianz Takaful.
This agreement will allow the bank to present customers a suite of life and non-life Takaful products through its branch network.
Takaful Insurance for Africa’s largest shareholder, Cooperative Insurance Company (CIC) is admiring its decision to invest in Kenya’s first Takaful company.
CIC’s GM, Kenneth Kimani, noted TIA’s strong progress and the fact that Takaful in Keny…
Saudi Arabia has the largest population, GDP and oil reserves in the GCC region and is strategically and militarily important on both a regional and global scale. Despite all this, unlike its neighbors the UAE or Bahrain, Saudi Arabia is not a cultural…
Oman Arab Bank is now ready to launch Islamic banking products through dedicated windows, after the regulatory framework is announced by the Central Bank of Oman in January.
Bishara Qafiti, deputy manager of Oman Arab Bank, stated that in the beginning…
Africa has begun to move its economic attention away from the west to the Middle East and Asia as a primary source of capital raising. This shift in alignment partially explains the forthcoming launch of a number of Sukuk across the continent in 2012.
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The State Bank of Pakistan has awarded Silkbank with an Islamic banking license.
The bank will be initially aiming Pakistan’s main population centers, Karachi, Lahore, Islamabad and Faisalabad.
