Tagged: Khaleej Times

SIB to host cultural activities

Islamic Finance

SIB to host cultural activities

<p>Competitions for cash prizes as well as Islamic lectures will be part of the activities at the Sharjah Islamic Bank&rsquo;s (SIB) Ramadan Tent this year. For the seventh consecutive year, from July 11 to 25, the tent will feature various religious awareness and entertaining programmes as well as engagement activities, delivered by an elite group of Muslim scholars and experts. As part of this year&rsquo;s programme, SIB has prepared a wide range of cultural activities and competitions titled &ldquo;Who will encash the cheque&rdquo;, and allocated several cash and material prizes. There will also be a Quran recitation competition, a &ldquo;Social Awareness Night&rdquo;, a children&rsquo;s night, an Emirati evening with religious singing, an evening dedicated to people with special needs and radio broadcasts on Sharjah Radio.</p>
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<p><a href="http://www.khaleejtimes.com/nation/inside.asp?xfile=/data/nationgeneral/2013/July/nationgeneral_July184.xml&amp;section=nationgeneral" title="http://www.khaleejtimes.com/nation/inside.asp?xfile=/data/nationgeneral/2013/July/nationgeneral_July184.xml&amp;section=nationgeneral">http://www.khaleejtimes.com/nation/inside.asp?xfile=/data/nationgeneral/…</a></p>
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Wealth creation is faster in Middle East: HNWIs

Islamic Finance

Wealth creation is faster in Middle East: HNWIs

A majority of high net worth individuals (HNWIs) in the Middle East believe wealth creation is faster today than in the past, according to the latest report of Barclays Wealth Insights. Over half (60%) of respondents in the Middle East agreed that weal…

Islamic Economy Higher Committee tackles plans

Islamic Finance

Islamic Economy Higher Committee tackles plans

<p>The initiative to transform Dubai into the world&rsquo;s capital of the Islamic economy is progressing steadily towards the goals as scheduled, said Mohammed Abdullah Al Gergawi, Chairman of Dubai&rsquo;s Islamic Economy Higher Committee. During its meeting, the committee viewed the work of its major teams tasked with implementing the initiative. The meetings provide an opportunity to discuss the role of these sectors in the implementation of the initiative, he added. All strategic partners and experts are included in these meetings and workshops so as to exchange views and ideas on the initiative, and reach a form of fruitful and constructive cooperation. Dubai&rsquo;s Islamic economy platform includes finance instruments, insurance, contracts arbitration, Islamic food industry and trade standards (halal food), and quality management standards.</p>
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<div>Source:&nbsp;</div>
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<p><a href="http://www.khaleejtimes.com/biz/inside.asp?xfile=/data/uaebusiness/2013/June/uaebusiness_June131.xml&amp;section=uaebusiness" title="http://www.khaleejtimes.com/biz/inside.asp?xfile=/data/uaebusiness/2013/June/uaebusiness_June131.xml&amp;section=uaebusiness">http://www.khaleejtimes.com/biz/inside.asp?xfile=/data/uaebusiness/2013/…</a></p>
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Family takaful to hit $5.6b by 2016

Islamic Finance

Family takaful to hit $5.6b by 2016

According to a report released at the opening of the 8th Annual World Takaful Conference (WTC) in Dubai on Monday, the growth of family takaful has outperformed the growth in conventional life insurance, with an annual growth rate of 32 per cent. Its g…

Sukuks to make UAE a top-ranked economy

Islamic Finance

Sukuks to make UAE a top-ranked economy

A new initiative to transform Dubai into a global hub for sukuks is aimed at positioning the UAE as a top-ranked economy in the world, according to His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Rul…

Nakheel pays additional Dh206m to creditors

Islamic Finance

Nakheel pays additional Dh206m to creditors

The real estate developer Nakheel on Tuesday announced that it paid an additional Dh206 million to its creditors as part of its debt restructuring. The funds, due to be paid at the end of February 2013 in accordance with the developer’s financial restructuring commitments, bring the total loan interest and trade creditor sukuk profit paid to Dh923 million since restructuring. According to Nakheel chairman Ali Rashid Lootah, The company is in a good financial position and has about $600 million of cash on its balance sheet.

Project finance demand up

Islamic Finance

Project finance demand up

This year, contracts worth $159 billion are to be awarded across the Middle East. Project finance loans are expected to grow almost 15% this year. It is expected that the area of project finance will grow from about $35 billion in 2012 to about $40 bil…

ADIB financial education at Global Village

Islamic Finance

ADIB financial education at Global Village

According to a recent announcement, Abu Dhabi Islamic Bank (ADIB) has achieved a huge number of the Global Village visitors through its Financial Education Campaign. As the main sponsor of the campaign for the second year, ADIB supports the event as part of its strategy to help and promote initiatives launched by the government endorsing the UAE’s tourism and entertainment industries. Some of the exclusive services the bank offers at the venue are providing ATMs as well as setting up specially designed mobile branches. There, visitors have the opportunity to receive information about financial management and ADIB’s unique products and service.

Upturn spurs rally of first perpetual bond

Islamic Finance

Upturn spurs rally of first perpetual bond

The debut perpetual sukuk of Abu Dhabi Islamic Bank have rallied since their sale last month on bets the lender is well positioned to capitalise on the emirate’s economic upturn, even though debt of emerging market peers dropped. Since their issuance on November 8th, the dollar-denominated Islamic bonds yielded 6.05% on Thursday, December 27th , down 33 basis points, or 0.33 percentage point. The average yield on HSBC/Nasdaq Dubai’s US Dollar Sukuk Financial Services Index gained 17 basis points to 2.9% over the same period.

UAE ranks third in Islamic assets with $75b: Report

Islamic Finance

UAE ranks third in Islamic assets with $75b: Report

It is estimated that the total Islamic assets of the UAE are worth $75 billion. This sum puts the country on the third place regarding the global market for the Shariah-based banking industry. The worldwide assets in this area are expected to reach $1….

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