Tagged: Al Bawaba

Emirates Islamic Bank contributes AED 7 million to Dubai Health Authority

Emirates Islamic Bank contributes AED 7 million to Dubai Health Authority

<p>Emirates Islamic Bank contributed AED 7 million to Dubai Healthcare Authority to support Rashid Hospital in purchasing computed tomography (CT scan) machines, which will be used for medical imaging procedures at the government healthcare institution. The donation reflects Emirates Islamic Bank&rsquo;s commitment towards the development of the UAE healthcare industry by working alongside government hospitals. The financial aid to Rashid Hospital follows similar initiatives by Emirates Islamic Bank to healthcare institutions in the UAE in recent years. Emirates Islamic Bank&rsquo;s recent contribution to Rashid Hospital is also in keeping with its objective to support charitable causes via a dedicated Zakat Fund at the bank. In 2012 alone, the bank&rsquo;s Zakat Fund contributed over AED10 million to various charitable causes.</p>
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<p><a href="http://www.albawaba.com/business/pr/emirates-islamic-bank-dubai-health-502304" title="http://www.albawaba.com/business/pr/emirates-islamic-bank-dubai-health-502304">http://www.albawaba.com/business/pr/emirates-islamic-bank-dubai-health-5…</a></p>
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Tunisia may delay Sukuk issue to next year

Tunisia may delay Sukuk issue to next year

Tunisia's first issue of a sukuk is likely to be postponed to next year. Tunisia had originaly planned to issue a sovereign sukuk this July to raise $700 million. Thus, the government wanted to push through a legislation to permit the issue, and hoped …

Global takaful market forecast to surpass US$8.8 billion this year

Global takaful market forecast to surpass US$8.8 billion this year

The third edition of Ernst & Young’s World Takaful Report 2010: Managing performance in a recovery, unveiled at the 5th Annual World Takaful Conference of 2010, confirms that global Takaful industry is well on course to surpass US$8.8 billion in contributions in 2010. Contributions grew by 29% in 2008 to reach US$5.3 billion. Takaful refers to Shari’a-compliant cooperative insurance.

Saudi Arabia and Malaysia are biggest markets
Saudi Arabia, with contributions totalling US$2.9 billion in 2008, and Malaysia with US$900 million are the top two takaful markets in the world. Sudan is the most significant market outside of the GCC and SE Asia, with contributions totalling US$280 million in 2008.

UAE and Indonesia are fastest growing markets
Global compound annual growth rate for takaful for the period 2005 – 2008 has been 39%; the Levant region and Africa grew at 18%, the Indian Subcontinent at 135%, SE Asia at 28% and the GCC at 45%. The UAE was the fastest growing takaful market in the world with a compound annual growth rate of 135% from 2005-2008 while Indonesia rose quickest in SE Asia at 35%.

Generating profitability remains a challenge

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