Monday 20 May 2019

Ithmaar Holding, bank report profits for Q1

Ithmaar Holding, a Bahrain-based financial institution, and its wholly-owned subsidiary, Ithmaar Bank, a Bahrain-based Islamic retail bank, have both reported profits as they each announced their financial results for the first quarter of 2019. The announcement by the Ithmaar Hol


Iraq's $772m Central Bank HQ project on track

Iraq said work is progressing at a steady pace on the new head office building of Central Bank of Iraq (CBI) and is on track for completion by 2022, reported Reuters citing a senior official. The 37-storey building is located on the banks of the Tigris River in Central B


EIBFS holds workshop on fintech in Islamic finance

Emirates Institute for Banking and Financial Studies (EIBFS), a leader in banking and finance education, held an interactive workshop on the implications of Fintech in Islamic Finance in collaboration with the Dubai Islamic Economy Development Centre (DIEDC). Zubair Ahmed, senior


Amanat Holdings Q1 net profit up 43pc to $5.6m

Amanat Holdings, a top healthcare and education investment company, realized a net profit of Dh20.7 million ($5.6 million) during the first three months (Q1), a 43 per cent increase compared with the same period in 2018. Amanat total income increased to Dh35.4 million, up 30 per


Waha Capital posts Q1 net loss of $15.7m

Waha Capital, a leading investment company in Abu Dhabi, has reported a net loss of Dh57.8 million ($15.7 million) in the first quarter (Q1) of 2019. The company’s Asset Management business recorded increased income, while its Private Investments unit recorded a loss due to


UAE banks provide $2.6bn credit for service companies

UAE banks have provided credit facilities worth Dh9.6 billion ($2.6 billion) for service and non-profit organisations during the first quarter (Q1) of 2019, a media report said. The funds account for around 10 percent of the total financing by the banks for all economic sectors i


StanChart makes senior appointments for Bahrain

Standard Chartered has announced the appointment of Ekram Rajab as the new head of Distribution and Hussain Abdulla Isa, as the new head of Client Acquisition for Bahrain. Abdulla Bukhowa, chief executive officer for Standard Chartered Bank Bahrain said, “I am proud to anno


First Abu Dhabi Bank launches Saudi operations

First Abu Dhabi Bank (FAB), one of the world's largest financial institutions based in the UAE capital, has officially launched its operations in Saudi Arabia. The new branch, located in Al Cayan Tower, Riyadh, joins FAB’s international network which spans five continen


Dubai Exports in bid to boost Arab-Africa trade

Dubai Exports, a unit of the Department of Economic Development (DED) in Dubai, and the International Islamic Trade Finance Corporation (ITFC) recently hosted a forum to promote trade and investment between Arab and African countries The two-day Agri-Food Forum was attended by 40


Emirates Investment Bank CEO steps down

Emirates Investment Bank (EIBank), an independent private bank based in the UAE, has announced the resignation of Khaled Q Sifri, the chief executive officer, effective immediately. “In his capacity as CEO, Khaled has positioned the bank as a recognised partner for people l

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