Monday 22 September 2014
 
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Ithmaar Bank launches user-friendly website

Ithmaar Bank, a Bahrain-based Islamic retail bank, has upgraded its website aimed at an improved user experience. "Navigation is simplified by categorising the product-centric primary menu to match the visitor's profile,&

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Arab Bank never backed Hamas, lawyer tells US jury

Arab Bank never provided material support for the Palestinian group Hamas, a lawyer for the bank told jurors during closing arguments at the bank's civil trial on charges of financing terrorism. The Jordan-based bank is accuse

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Mideast banks buy majority of Goldman Sach’s sukuk

Middle Eastern banks bought the vast majority of a debut $500 million sukuk issue by Goldman Sachs, a positive sign for other conventional banks hoping to tap the region's liquidity by issuing Islamic debt, according to data from lead manage

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IIRA reaffirms ABC Islamic Bank ratings

The Islamic International Rating Agency (IIRA) has reaffirmed the ratings of Bahrain-based ABC Islamic Bank at A+/A-1 on the national scale (long-term and short-term respectively), and A-/A-2 on the international scale with a 'Stable' ou

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Top HSBC executive in Saudi leaves bank

The chief executive of HSBC Holdings' investment banking business in Saudi Arabia, Walid Khoury, has left the bank, a spokesman for the lender confirmed on Monday. Nabeel Shoaib, who was deputy CEO and chief operating officer

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Egypt expects $425m from IDB for refinery, airport

Egypt said it expected to receive around $425 million in funding from the Islamic Development Bank to develop an oil refinery in Assiut and an airport in the Red Sea resort of Sharm El Sheikh.   The first agreeme

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Ibdar Bank appoints new CEO

Bahrain-based Ibdar Bank has announced the appointment of Basel Al-Haj-Issa as the bank’s new chief executive officer. Al-Haj-Issa will play a leading role in driving business performance and strategic initiatives, supportin

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Burgan Bank to meet investors ahead of Tier 1 bond

Kuwait's Burgan Bank has chosen banks to arrange meetings with investors ahead of a potential issue of a capital-boosting bond, a document from lead managers said on Thursday, in what would be the first such debt sale from a Kuwaiti entity.

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JPMorgan probes possible cyber attack

JPMorgan Chase & Co is investigating a possible cyber attack and working with law enforcement authorities to determine the scope, a company spokeswoman said on Thursday morning. The bank was taking additional steps to safeguar

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Earnings in Kuwait flat despite strong bank results

The earnings of Kuwaiti companies were flat, despite a solid performance by banks during the first half of the year, on the back of an improving operational environment and reduced provisioning, boosted overall earnings an offset weakness in oth

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