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
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
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
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
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.
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
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
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
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.
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.