Tagged: The Peninsula Qatar

Bank Nizwa obtains investment banking licence

Bank Nizwa obtains investment banking licence

Bank Nizwa, Oman's first full-fledged Islamic bank, has received an investment banking licence that will allow it to manage funds and issue instruments such as Islamic bonds. The bank launched operations in January and is gradually rolling out a range …

Barwa bank backs charity project

Barwa bank backs charity project

<p>Barwa Bank has signed a cooperation agreement with Qatar Charity to provide QR500,000 for its Ramadan projects in the country. The deal was signed by Steve Troop, Chief Executive Officer of Barwa Bank, and Yousef Al Kuwari, Qatar Charity Executive Chairman, at the charity headquarters. Troop said that Barwa Bank aims to support projects which provide assistance to the needy in the Qatari community in various ways, including forging partnerships with charities such as Qatar Charity. One of Qatar Charity&rsquo;s projects is Al Baraha which has been extended from 10 days to one month. Around 24,000 people will benefit from the QR950,000 project during the holy month.</p>
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<p><a href="http://thepeninsulaqatar.com/qatar/245728-barwa-bank-backs-charity-project.html" title="http://thepeninsulaqatar.com/qatar/245728-barwa-bank-backs-charity-project.html">http://thepeninsulaqatar.com/qatar/245728-barwa-bank-backs-charity-proje…</a></p>
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Bassel Gamal is CEO of QIB

Bassel Gamal is CEO of QIB

Bassel Gamal was appointed as the Chief Executive Officer of Qatar Islamic Bank (QIB). Mr. Gamal is well grounded in banking and finance, and has had experience in several institutions and positions. He will assume his office next month.

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QE Al Rayan Islamic index debut on Jan 7

QE Al Rayan Islamic index debut on Jan 7

Yesterday Qatar Exchange (QE) and Al Rayan Investment made an announcement about the launch of the QE Al Rayan Islamic index. The new index relies on QE listed stocks of minimum free float size and liquidity that are Shariah compliant. Its debut date i…

Islamic banking assets to cross $1.8 trillion

Islamic banking assets to cross $1.8 trillion

Global Islamic banking assets are expected to reach over $1.8 trillion in the coming year. This forecast by Ernst & Young is significantly higher than some industry estimates published earlier. The Islamic banking industry continuously grows worldw…

Azerbaijan bank plans $150m Islamic loan

Azerbaijan bank plans $150m Islamic loan

International Bank of Azerbaijan (IBA) considers to raise $150m using an Islamic syndicated loan at the beginning of 2013. Thus, the bank intends to double its Islamic banking assets by the end of next year. According to the bank’s director of Islamic …

Qtel signs $500m Islamic financing deal with QIB

Qtel signs $500m Islamic financing deal with QIB

An Islamic financing facility worth $500m was signed between Qatar Telecom (Qtel) and Qatar Islamic Bank (QIB). The bank plays the role of Sole Mandated Lead Arranger and Investment Agent for the deal. The financing is structured as an 18 month Shariah…

Investment recovering in Arab Spring economies

Investment recovering in Arab Spring economies

Last month, two UAE real estate developers – Al Futtaim Group and Emaar Properties – announced a big project in Egypt. Not only was this a boost to the country’s property market but it also acted as a sign of a revival of cross-border investment in t…

ADIB to issue hybrid sukuk this week

ADIB to issue hybrid sukuk this week

This week, Abu Dhabi Islamic Bank (ADIB) plans to issue a hybrid sukuk. However, it is likely that investors will demand a big premium for the rare structure. According to expectations, the bank will raise minium $500m to shore up its core capital, com…