Tuesday 2 September 2014

ADIB completes Barclays unit purchase

Abu Dhabi Islamic Bank (ADIB) said it has formally completed the purchase of Barclays’ UAE retail banking business from the British lender. As per the new deal, ADIB and Barclays will now work closely to ensure the seamless transition of over 110,000 customers onto the Abu


AlKhair Capital launches Sharia-compliant fund

AlKhair Capital, a leading Saudi-based investments institution, has launched the ‘AlKhair Capital Plus Sukuk Fund’ - its open-ended, Sharia-compliant investment fund for investment in fixed income markets. The fund is aimed at generating regular income as well as achieving


Islamic Economy Awards attract global submission

The Dubai Islamic Economy Development Centre (DIEDC) has invited nominations across eight categories for the Islamic Economy Awards 2014, and have had a high uptake from international and local companies. The submissions of nominations for the award will remain open until October


GCC sukuk industry shows massive growth potential

The Sukuk industry in the Gulf Co-operation Council (GCC) region is set to be one of the fastest growing segments of the Islamic finance industry with huge growth potential, particularly in Dubai, UAE, said a report. The Dubai Chamber of Commerce and Industry stated that sukuks w


China to buy larger share of GCC exports

Gulf Co-operation Council (GCC) export to China is growing in Saudi Arabia, Qatar, UAE and Oman and is set to increase in Kuwait next year, according to an expert. A deal announced in mid-August between Kuwait Petroleum Corp (KPC) and China’s Sinopec to double the amount of


New margin trading rules take effect in Bahrain

New market rules that allow margin trading and non-Bahraini brokers to trade will come into effect from today (September 1) at the Bahrain Bourse (BHB). A key provision is that non-Bahraini brokers licensed by capital market regulatory institutions in their domiciles can trade at


BFH names new chief executive

The Bahrain Financial Holding (BFH) Company and the Financial Centre Development Company have appointed Ahmed Ebrahim Al Moataz as the new chief executive and board member of BFH. The two companies are the developers of the Bahrain Financial Harbour (BFH), a fully integrated wate


Mumtalakat training push for executives

Bahrain Mumtalakat Holding Company (Mumtalakat), the investment arm of Bahrain, has launched the Mumtalakat-Insead International Directors Programme, in partnership with international business school Insead. It is a corporate governance training initiative for its nominee directo


BFC opens 39th outlet in East Riffa

Bahrain Financing Company (BFC) has opened a branch in East Riffa, which expands the money transfer and foreign exchange group's retail network to 39 locations. Located close to the International Medical City Hospital on Baynah Avenue, the branch will cater to local residents


GFH rating raised by Capital Intelligence

Capital Intelligence (CI), the international credit rating agency, has raised the Long-Term Rating of Gulf Finance House (GFH) to ’BB’ from ‘BB-‘ and confirmed GFH’s Short-Term Rating at ‘B’.  The outlook for GFH’s ratings revert to &l

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