Tagged: Sultan Bin Nasser Al Suwaidi

Central Bank Governor shines light on challenges ahead Islamic Banks

Islamic Finance

2011-06-03

Central Bank Governor shines light on challenges ahead Islamic Banks

There are already 8 Islamic banks in the UAE with 260 branches and assets and liabilities of AED 269 Billion (US$ 73.1 Billion). This represents 17% of total assets and liabilities of the banking system in the UAE.
Sultan Bin Nasser Al Suwaidi, UAE Cen…

Central Bank Islamic CDs climb to Dh12b

Islamic Finance

2011-06-03

Central Bank Islamic CDs climb to Dh12b

The Islamic certificates of deposit launched by the UAE Central Bank are now the equivalent of $3.27 billion. This statement was given by Sultan Bin Nasser Al Suwaidi, Central Bank Governor.
He added that although such figures are impressive, there are…

UAE, Bahrain central bankers call for Islamic finance reforms

Islamic Finance

2010-06-15

UAE, Bahrain central bankers call for Islamic finance reforms

Sultan Bin Nasser Al Suwaidi, Governor of the Central Bank of the United Arab Emirates (UAE) and Rashid Mohammad Al Maraj, Governor of the Central Bank of Bahrain both have called for reforms in improving the foundations of Islamic finance for it to expand globally.

Such refroms includes rulings by Shari’ah boards to be better co-ordinated and harmonised to enable the setting of credible standards. In addition, a clearer distinction also needed to be defined between profit to shareholders and profit to investors and depositors.

Islamic banks account for 16 per cent of the UAE’s banking system and 11 per cent of Bahrain’s banking system.

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After the extended trading session ended, the Wall Street Journal reported that the company had received investor commitments to raise $225 million of equity capital initially, with the rest of the more than $1 billion offering coming later.
The Wall Street Journal: FedEx, Southwest planes came within 100 feet of crashing into each other at Austin airport
A FedEx Corp. flight landing at the Austin, Texas, airport last weekend appeared to come within 100 feet of a Southwest Airlines flight taking off, according to the head of the safety agency leading the investigation into the incident, the second such close call in three weeks.

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