Monday 23 April 2018
 
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Islamic

Dubai Investments to launch new Islamic bank

Dubai Investments has announced plans to lead a consortium of investors to launch Arkan Bank, a wholesale Islamic financial institution with an initial paid-up capital of $100 million. The authorised share capital of Arkan Bank wi

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Ithmaar Bank posts $16.55m net profit for 2017

Ithmaar Bank, a Bahrain-based Islamic retail bank and a wholly-owned subsidiary of Ithmaar Holding, reported today a net profit of BD6.24 million ($16.55 million) for the period ended December 31, 2017.    T

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Suicide bombers attack church in Pakistan; eight killed

A packed Christian church in southwestern Pakistan was targeted by two suicide bombers on Sunday, killing at least eight people and wounding up to 45, said a report. The gunmen wearing explosives-filled vests stormed the church in

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Muslim states vow to defeat terrorism

The defence ministers of the Islamic Military Counter Terrorism Coalition (IMCTC) states have vowed to coordinate and unite their efforts, to ward off the dangers of terrorism and take a united stand against it.  

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Ibdar Bank buys prime US office building

Bahrain-based Islamic investment bank Ibdar, in collaboration with leading US property manager Lincoln Property Company and asset manager Ritz Banc Group, has acquired a prime office building in Boston, US, currently the headquarters of Amazon R

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Emirates Islamic launches new mobile banking app

Emirates Islamic, one of the leading Islamic financial institutions in the UAE, today announced its new mobile banking app. The launch is one of the initiatives under Emirates Islamic’s digitalisation drive to address the gr

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AIG unveils first Islamic M&A insurance policy in Mena

American International Group, advised by global law firm Norton Rose Fulbright, has placed the first Shariah-compliant insurance policy in the Middle East and North Africa region (Mena) for merger and acquisitions activity. AIG of

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AIG unveils first Islamic M&A insurance policy in Mena

American International Group, advised by global law firm Norton Rose Fulbright, has placed the first Shariah-compliant insurance policy in the Middle East and North Africa region (Mena) for merger and acquisitions activity. AIG of

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Meethaq to provide Islamic finance to OMPC

Oman-based Meethaq, the Islamic banking unit of Bank Muscat, recently signed an agreement to provide Islamic finance to the Oman Munition Production Company (OMPC) set up by the Ministry of Defence, said a report. Mohammed bin Nas

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Gulf Energy Maritime inks $74m Islamic finance deal

Dubai-based Gulf Energy Maritime (GEM), a leading independent commercial product and chemical tanker operator, has signed a Dh275 million ($74.8 million) Islamic finance deal with Dubai Islamic Bank (DIB). A major player in the re

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