Islamic banking

Islamic banking attracts flocks of Pak customers

Abu Dhabi - Emirates Voice

Islamic banking in Pakistan, although still in infancy stage, is attracting flocks of customers including the government of Pakistan. At the same time, the Islamic banks, financial institutions including UAE banks' Pakistan units are launching new products, which provide ever-new attractions to the customers. Several banks have offered or will do this year new investment plans to an ever growingRead more

Analysis: Pakistan's Islamic banking just amazes everyone

Abu Dhabi - Emirates Voice

Everyone in Pakistan is pleasantly amazed over the fast-track popularity of Islamic banking, latest reports show. Add to this the success story of Dubai Islamic Bank of Pakistan. The market share of Islamic bank deposits rose to 13.2 per cent from 12.9 per cent a year ago in the overall conventional and Islamic banks of Pakistan. The diminishing musharaka isRead more

Al Baraka issues US$ 400 million Islamic Sukuk

Manama - Emirates Voice

Al Baraka Banking Group B.S.C (“ABG”), the Bahrain-based leading Islamic banking group, announced the successful completion of its first Islamic Sukuk issue in the amount of US$ 400 million. The issue was well received in the GCC, Asian and European markets, and was five times oversubscribed, receiving subscriptions of US$ 1.6 billion against the initial requirement of US$ 300 million.Read more

New Shariah standards for Islamic financing, banking launched in Dubai

Abu Dhabi - Emirates Voice

A set of new Shariah standards for Islamic banking and financing have been launched by the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI). Islamic finance scholars and specialists from across the region attended the launch ceremony, which was organised by the AAOIFI and Minhaj Advisory in Dubai recently. The AAOIFI has been working in order to develop theRead more

Bank Muscat's Meethaq gets approval for OMR100m Sukuk issue

Muscat - Arab Today

Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, has received the initial approval from the Capital Market Authority (CMA) to launch the first OMR100 million Sukuk programme. Meethaq is the first Islamic banking entity in the Sultanate to obtain CMA approval for the first ever Sukuk issuance targeting retail investors in Oman. Under the OMR100 million programme,Read more

Bank Muscat’s Meethaq signs finance deal with Drug Manufacturing Company

Muscat - Arab Today

Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, has signed a financing agreement with the Drug Manufacturing Company (DMC) for setting up a state-of-the-art manufacturing unit in Sohar industrial area. Sulaiman Al Harthy, deputy chief executive officer, Islamic Banking, and Ali Musa Al Balushi, chief executive officer of the Drug Manufacturing Company, signed the finance agreement atRead more