Bahrain-based Seera Investment Bank has reported a net income of $5.1 million for the first half of this year compared with a net income of $1.7m for the same period last year. Total income was $8.5m compared with $4.6m last time. The increase in incom…
Standard & Poor's reduced Al Baraka's rating from BBB- to BB+ with a negative outlook on the back of increased sovereign and economic risk in the regions where it operates, particularly Egypt and Jordan. Operating environment and credit conditions …
Wong & Partners is advising Malaysian investment company BIMB Holdings on its proposed $885 million takeover of Bank Islam. The deal is subject to shareholder and regulatory approvals, and will be financed by a $1.8 billion capital raise.
Kuala Lum…
Kuwait Finance House (KFH) announced 103 million Kuwaiti dinar or $362 million of precautionary provisions on Tuesday, as it posted a smaller than expected rise in second-quarter net profit. The bank did not provide any more details on the provisions, …
Dubai Financial Group (DFG) has agreed to divest of its 30.5% stake in Bank Islam to BIMB Holdings in Malaysia, in a deal worth $550m. BIMB Holdings currently owns 49% stake of Bank Islam and the recent acquisition, which completed on 31 July 2013, wil…
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and the Bangladesh Bank (The Central Bank of Bangladesh) signed a Memorandum of Understanding (MOU). The objective of the MOU is to establish a basis for the exchange of …
Capital Intelligence (CI) has maintained Sharjah Islamic Bank's (SIB) Financial Strength Rating (FSR) at 'BBB+', with SIB's exceptionally sound capital adequacy ratio (CAR) and good liquidity being major supporting factors. Rising non-performing Islami…
<p>Abu Dhabi Islamic Bank (ADIB) opens its annual Ramadan exhibition this year at the Emirates Palace in Abu Dhabi. The Road from Jerusalem to Mecca and Medina follows last year's exhibition Discovering Ka'aba withtwo more replicas of central landmarks in Islamic history. The exhibition portrays a historical journey through three holy sites of historical and religious significance. The Road from Jerusalem to Mecca and Medina includes a replica of the Ka'aba which illustrates both the Ka'aba's outer façade and its inner structure. Rare photographs of the Ka'aba that depict its various architectural and design elements will also be on display. In addition, the exhibition showcases the Al-Nabawi Mosque and a model of the Al-Aqsa Mosque. The exhibition is open to the public every day from 08:30am to 12:00 midnight throughout the whole month of Ramadan.</p>
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<p><a href="http://www.ameinfo.com/adib-stages-historical-exhibition-ramadan-349756" title="http://www.ameinfo.com/adib-stages-historical-exhibition-ramadan-349756">http://www.ameinfo.com/adib-stages-historical-exhibition-ramadan-349756</a></p>
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