Saturday 23 August 2014
 
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Swiss bank mis-sold $200m investments to Kuwaitis

Switzerland's Bank Sarasin mis-sold $200 million of investment products to Kuwait's prominent Khorafi family, a court at Dubai's financial centre found on Thursday in a ruling that could set a precedent for similar disputes in the re

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Abu Dhabi property price rise ‘no risk to banks’

The price rise in Abu Dhabi’s residential real estate does not pose a serious risk to the emirate’s banks as the industry is not reliant on leverage but backed by stinger fundamentals, said a report. According to the l

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Bank Asya shares removed from Turkish bourse

Shares in troubled Turkish Islamic lender Bank Asya were temporarily removed from the Istanbul stock exchange on Thursday in a further blow to a bank caught in the middle of a damaging political feud. The Istanbul bourse said the

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New Suez Canal project to cost $8.4bn

The new Suez Canal project will cost about 60 billion Egyptian pounds ($8.4 billion), funded by debt certificates to be issued "in about a week", Egyptian Prime Minister Ibrahim Mehleb said on Thursday. The "Suez Ca

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GFH's net profit soars 152pc to $10.6m

Bahrain-based Gulf Finance House (GFH), an Islamic investment bank, has posted a 152 per cent rise in consolidated net profit to $10.6 million for the first half ended June 30, compared with $4.2 million for the prior year period. The b

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Khaleeji Commercial Bank offers new credit card

Khaleeji Commercial Bank (KHCB), one of Bahrain’s leading Islamic retail banks, has announced the latest addition to its credit card line-up - the Easy 36 Card. The new credit card, which works on the VISA network, is introduced a

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Gulf Bank obtains top security certification

Gulf Bank has announced that it has officially obtained the Payment Card Industry (PCI)-Data Security Standards (DSS) 3.0 certification, making it the first certified bank in Kuwait to achieve the standard. PCI-DSS is the global industr

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Turkey's Bank Asya ends exclusivity deal with QIB

Turkish Islamic lender Bank Asya said an exclusive deal with Qatar Islamic Bank (QIB) to acquire a stake in the Turkish lender was annulled, opening the way for alternative suitors. Bank Asya attempted earlier this year to form a partne

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Citi wins 14 awards for the Mena region

Citi has won 14 awards in regional and country categories in Global Finance magazine’s 2014 World’s Best Corporate/Institutional and Consumer Internet Banks competition for the Middle East and North Africa region. Country wi

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Khaleeji Commercial Bank net profit surges 166.9pc

Khaleeji Commercial Bank (KHCB), a prominent Islamic retail bank, has achieved a net profit of BD 1.2 million ($3.18 million) for the second quarter of 2014, an increase of 166.9 per cent compared to the same period last year. Compared

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