The Supreme Council of the Armed Forces seminar titled ‘January Revolution and Horizons of Economic Growth’ has the strong oppinion that Egypt’s economy is at risk.
The statement was based on the unprecedented decline of economic conditions in pos…
Bahraini Islamic bank Al Baraka Banking Group set its purpose for 15% growth in net profit this year and wants to buy a 75pc stake in an unlisted Indonesian bank as part of its global expansion plan.
Adnan Ahmed Yousif, Al Baraka’s chief executive, rev…
It seems that Egypt is laying the groundwork for a debut sovereign Islamic bond. The statement came from a person familiar with the matter.
The person added that the government is studying a new legal structure that will allow them to launch a sovereig…
UAE energy group Dana Gas appointed an international firm to advise on its $920 million convertible sukuk maturing in October, adding it won’t stop to meet its obligations.
Dana Gas shares were up 5.9 per cent at 0945 GMT, while the sukuk was unchanged…
UM Financial Inc and UM Capital Inc the receiver, Grant Thornton, is still continuing to reclaim $1.9 m in gold paid to the financial manager of Multicultural Consultancy Canada, Joseph Adam.
The mystery of the missing gold has moved 5,700 miles away t…
Four banks were chosen by Majid Al Futtaim (MAF) Holding to manage its first Islamic bond issuance programme. The four banks are: Dubai Islamic Bank, Abu Dhabi Islamic Bank, HSBC and Standard Chartered.
The proceeds are anticipated to fund expansion pl…
Following the failure of the company to supply details on how it plans to repay $1 billion of sukuk maturing in October, Dana Gas Islamic bonds surged to a record.
Dana Gas shares fell 2.2 per cent, the most in more than a week.
It seems that the compa…
A man named Omar Kalair was told to rendezvous in the dead of the night in a deserted suburban parking lot and hand over a consignment of gold and silver bullion to achieve recognition on the debts of a secretive organization.
The bizarre payment of $2…
Various providers stated that the demand for Shariah-compliant PRI in MENA countries has increased significantly. Ravi Vish, director and chief economist of MIGA, also confirmed that request for political risk insurance (PRI) has increased to unprecede…
The effects of the ‘Arab Spring’ in North Africa may have presented fantastic opportunities for Islamic finance according to Patrick AbiHabib of Arab Banking Corporation.
He explained that the transitional authorities in Libya, Tunisia and Egypt ha…
