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UAE conventional bank assets hit $620bnThe assets of UAE conventional banks (CB) amounted to around Dh2.275 trillion ($620 billion), accounting for 79.7 percent of total banking assets by the end of November 2018, a media report said. Sharia-compliant banks accounted f More… |
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Islamic banking on the rise in UAE, says studyIslamic banks are outperforming their conventional peers in customer acquisition with 55 per cent of the UAE consumers now having at least one Islamic banking product, compared to 47 per cent in 2015, a report said. The popularity More… |
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BisB appoints new head of complianceBahrain Islamic Bank (BisB), a leading provider of sharia compliant integrated financial solutions in Bahrain, recently appointed Mazar Rashid Jalal as the new general manager to lead the compliance and governance department. More… |
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DGCX names market maker for Sharia Compliant Spot Gold contractThe Dubai Gold & Commodities Exchange (DGCX) today announced INTL FCStone, a leading international financial services firm, as the market maker for its upcoming Sharia-compliant Spot Gold contract. DGCX&rsq More… |
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Assets of UAE traditional banks hit $571bnThe assets held by traditional banks operating in the UAE surged to Dh2.103 trillion ($571 billion), accounting for 79.6 per cent of the total assets of the country's banking apparatus until the end of September, a report said. More… |
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BOKI enlists SRB to manage Sharia committeeBOK International (BOKI), a leading Islamic wholesale bank in Bahrain, has announced the assignment of Shariyah Review Bureau (SRB) to help setup, manage and administer the Sharia Advisory Committee for its Bahrain office. "B More… |
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DGCX to launch Sharia compliant spot gold contractThe Dubai Gold & Commodities Exchange (DGCX) and Ayedh Dejem Group, a conglomerate from Saudi Arabia, have agreed to launch the Middle East’s first-ever Sharia compliant Spot Gold contract to be traded on an international exchange. More… |
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Sedco Capital launches new investment strategySedco Capital, one of the largest asset managers in Saudi Arabia, has launched a new investment strategy called Prudent Ethical Investing (PEI) that integrates its Shariah-compliant investment approach with ethical investing. PEI More… |
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UAE’s Beehive enlists SRB for Sharia functionsUAE-based Beehive P2P, a leading online marketplace, has appointed Shariyah Review Bureau (SRB) to supervise its Sharia Supervisory Board, Certification and Sharia Audit functions for its P2P Islamic platform. Beehive P2P recently More… |
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Centralised Sharia boards could spur Islamic financeThe proposal by AAOIFI for centralized Sharia boards, if implemented in countries active in Islamic finance, will help the industry move toward greater standardization and harmonization in Sharia interpretations, S&P Global Ratings said. More… |
