Tagged: Gulf Daily News

Ithmaar Bank operating income stable at BD37m

Ithmaar Bank operating income stable at BD37m

Operating income continues to be stable at Ithmaar Bank at BD36.8 million, despite a significant compression of margins in overseas subsidiary due to a 300 basis points cut in benchmark profit rates. However, a net loss of BD2.8m was announced for the …

Seera’s net income reaches $5.1 million

Seera’s net income reaches $5.1 million

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…

Forum set to probe Islamic finance issues

Forum set to probe Islamic finance issues

The Al Baraka 34th Symposium on Islamic Economics is scheduled to be held in Jeddah on July 17 and 18. The symposium will discuss methods of calculating zakat of equity and debt financing. It will cover fiqh and Islamic doctrinal researches submitted b…

Islamic body eyeing push

Islamic body eyeing push

The General Council for Islamic Banks and Financial Institutions (CIBAFI), a non-profit organisation, has traditionally focused on neighbouring countries, which form a core market for the industry. The Bahrain-based association now plans to expand beyo…

Venture Capital posts net profit of $20.2m

Venture Capital posts net profit of $20.2m

Bahrain-based Venture Capital Bank reported a fifth consecutive quarter of profitable performance. The Islamic investment bank posted a net profit of $20.2 million on total revenue of $39.6m for the 15 months ended March 2013. For the quarter ended Mar…

Venture Capital posts net profit of $20.2m

Venture Capital posts net profit of $20.2m

Bahrain-based Venture Capital Bank reported a fifth consecutive quarter of profitable performance. The Islamic investment bank posted a net profit of $20.2 million on total revenue of $39.6m for the 15 months ended March 2013. For the quarter ended Mar…

Venture Capital posts net profit of $20.2m

Venture Capital posts net profit of $20.2m

Bahrain-based Venture Capital Bank reported a fifth consecutive quarter of profitable performance. The Islamic investment bank posted a net profit of $20.2 million on total revenue of $39.6m for the 15 months ended March 2013. For the quarter ended Mar…

Bank to raise $200m with sukuk

Bank to raise $200m with sukuk

Al Baraka Islamic Bank is raising $200 million through trust certificates in a Sukuk Al Wakala issue which will mature in 2015. The 18-month sukuk is aimed at raising cash to help increase the bank’s exposure to Sharia-compliant trade finance. The issu…

GFH net profit soars 50pc to $1.5 million

GFH net profit soars 50pc to $1.5 million

Bahrain-based Islamic investment bank Gulf Finance House (GFH) reported a 50 per cent increase in net profit at $1.5 million for the first quarter this year. Total income for the period was at $11.1m. Income was primarily from fees from funds under man…

Arcapita disclosure statement approved

Arcapita disclosure statement approved

Arcapita Bank yesterday announced that a US court has approved the disclosure statement for the amended Chapter 11 plan of reorganisation. The court’s decision relates to the adequacy of the disclosures in the disclosure statement about the company and…