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Emirates Islamic scheme offers up to 2.57pc profit rateEmirates Islamic, one of the leading Islamic financial institutions in the UAE, today launched ‘Booster Wakala Deposit,’ offering higher expected profit rates up to 2.57 per cent per annum. With this product, Emirates More… |
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EIB offers new Islamic investment optionEmirates Islamic Bank, a leading Islamic financial institution in the UAE, has launched a four-year Wakala investment option for customers, with an expected profit rate of 2.57 per cent per annum. Available on investment amounts r More… |
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IILM moves to expand sukuk sales networkPrimary dealers of the International Islamic Liquidity Management Corp (IILM) said after enjoying healthy demand for its debut Islamic bond last week, efforts were shifting to expand the distribution network of buyers. The $490 mi More… |
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Oman banks sign up for interbank facilityOman’s first Islamic bank, Bank Nizwa and Al Hilal Islamic Banking Services from Ahli Bank have entered into an agreement which will facilitate interbank placements between the two enterprises. The Wakala agreement is an imp More… |
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Wakala new alternative to Murabaha dealsIslamic interbank lending is now starting to move away from Murabaha contracts to Wakala, which is seen as a stronger Sharia-compliant process, said report. The International Islamic Financial Market (IIFM), the global standardisa More… |
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GFH in talks over $100m Wakala loanGulf Finance House (GFH), a Bahrain-based Islamic investment bank, said it is in discussions with Liquidity Management Centre (LMC) syndicate regarding the tenor of its $100m Wakala facilities - due in 2010 ($50 million) and 2011 ($50 mi More… |
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Dubai Islamic Bank in funds deal with ministryDubai Islamic Bank has signed an agreement with the UAE's ministry of finance, which grants the lender capital to provide sharia-compliant products. The finance ministry has granted to Dubai Islamic Bank "the wakala capital for the purpose More… |
