Tuesday 5 May 2015
 
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Islamic

Jordan Islamic Bank gains surge 9pc to $16m

Jordan Islamic Bank (JIB), a subsidiary of Bahrain-based Al Baraka Banking Group, has reported nine per cent growth in net profit at $16.08 million for the first quarter when compared with $14.67 million for the first quarter last year.

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Islamic REITs to be launched on Bahrain Bourse

Islamic real estate investment trusts (REITs) will be launched on Bahrain Bourse next month, chief executive Shaikh Khalifa bin Ebrahim Al Khalifa said yesterday (April 22). “We also plan to launch the Bahrain Investment Mar

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Islamic REITs to be launched on Bahrain Bourse

Islamic real estate investment trusts (REITs) will be launched on Bahrain Bourse next month, chief executive Shaikh Khalifa bin Ebrahim Al Khalifa said yesterday (April 22). “We also plan to launch the Bahrain Investment Mar

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Political reconciliation 'key to defeating Islamic State'

Islamic State (IS) militants cannot be defeated by military action alone, according to a leading expert. Mokhtar Lamani, who is former UN political representative in Syria and former Arab League representative in Iraq, said the te

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New initiatives to boost Dubai’s Islamic economy status

A series of initiatives proposed by the board of Dubai Islamic Economy Develop Center (DIEDC) recently to boost Dubai’s status as the global capital of the Islamic economy, were approved by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum,

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Customer deposits surge at Oman Islamic banks

Oman's two full-fledged Islamic banks have yet to post a profit but their customer deposits are surging, increasing pressure on authorities to develop sharia-compliant money market tools and make a long-awaited issue of Islamic bonds (sukuk)

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Qatar Islamic Bank Q1 net profit rises 19 pc

Qatar Islamic Bank (QIB), the Gulf state's largest sharia-compliant lender by assets, reported a 19 per cent jump in first-quarter net profit, broadly in line with analysts' forecasts. The bank was one of three Islamic lenders i

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Islamic fund issues to be discussed at Bahrain forum

More than 350 key players, regulators and thought leaders in the global Islamic funds and investments industry are set to gather in Bahrain next month for a key forum. The 11th Annual World Islamic Funds and Financial Markets Conf

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Sharia-compliant dispute resolution mechanism 'vital'

A leading Islamic finance expert has called for the creation of a Sharia-compliant dispute resolution mechanism at the global level with participation from all countries active in Islamic finance. According to Malaysia-based Islam

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Islamic finance ‘faces several key challenges'

The Islamic finance system faces several key challenges if it is to unlock its huge potential and develop safely, the International Monetary Fund (IMF) said. Islamic finance - the provision of financial services in accordance with

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