Banking on Qatar — the Islamic Way
Wednesday, 04 Aug 2010 | Volume7.Issue31
FeaturesSAUDI ARABIA: Saudi National Bank secures regulatory approval to increase capital to SAR60 billion (US$15.98 billion)
MALAYSIA: RP Hydro (Kelantan) proposes SRI Sukuk Wakalah issuance worth up to RM975 million (US$226.66 million)
MALAYSIA: Danum Sinar auctions Islamic medium-term notes worth RM10 million (US$2.32 million) in total
SAUDI ARABIA: Madkhol’s robo-advisory platform receives Shariah compliance certification from Shariyah Review Bureau
SAUDI ARABIA: Saudi regulator approves Mulkia Investment Company’s request to increase fund’s total assets value
BAHRAIN: Adel El-Labban resigns from group CEO post at Ahli United Bank for personal reasons
SAUDI ARABIA: SNB Capital completes SAR1 billion (US$266.3 million) Sukuk issuance; receives oversubscription of 2.1 times
UAE: Emirates Islamic issues three-year AED1 billion (US$272.21 million) Sukuk paper
MALAYSIA: Cypark Renewable Energy issues Musharakah-based Islamic note worth RM8 million (US$1.86 million)
SAUDI ARABIA: Mohammed Hasan AlNaqool Sons Co to issue Sukuk Murabahah to support company projects
SAUDI ARABIA: Saudi Central Bank approves Gulf Insurance Group’s motor insurance product
SAUDI ARABIA: Al Sagr Cooperative Insurance Co renews license with Council of Cooperative Health Insurance
OMAN: Bank Nizwa launches Mudarabah-based digital savings account
SAUDI ARABIA: Arabia Insurance Cooperative Co obtains approval for domestic workers insurance product
PAKISTAN: Askari Bank signs agreement with Akhuwat Islamic Microfinance to provide interest-free loans
GLOBAL: IsDB signs MoU with UNESCAP to enhance strategic partnership through digitalization and innovation
MALAYSIA: Bank Negara Malaysia prints RM30.1 billion (US$6.99 billion) in Shariah short-term instruments to support liquidity management
UAE: Islamic Arab Insurance Co to cancel 270.41 million shares at AED1 (27.22 US cents) per share for capital reduction
GLOBAL: IsDB and United Conference on Trade and Development sign MoU to support SDG agenda
SAUDI ARABIA: Saudi Aramco’s investors look into refinancing US$13.4 billion loan with Sukuk and bond issuance, Reuters reports
SAUDI ARABIA: SICO Capital Company appoints Imad Naif Mohammed Awad as independent member of board of directors
SAUDI ARABIA: Buruj Cooperative Insurance Co appoints Bader Mohammed Aleisa as audit committee chairman
OMAN: Arif Maqbool Al Zaabi resigns from post as Bank Nizwa’s assistant general manager of retail banking
PAKISTAN: Automobile parts manufacturer Loads issues unsecured Islamic commercial paper to the tune of PKR500 million (US$1.81 million)
KUWAIT: Central Bank of Kuwait prints KWD160 million (US$522.07 million)-worth of CBK bonds and related Tawarruq facilities
GAMBIA: Central Bank of Gambia issues three Sukuk Salam facilities
SAUDI ARABIA: Saudi AZM for Communications and Information Technology Co renews Shariah compliant financing to fund working capital requirements, among others
SAUDI ARABIA: Molan Steel Co upsizes Islamic financing facilities to fund working capital requirements
SOMALIA: Musoni System’s core banking system now supports Islamic financial institutions
INDONESIA: Indonesian government attracts IDR26.26 trillion (US$1.73 billion) in orders for latest Sukuk offerings; to award IDR14 trillion (US$923.08 million)
BANGLADESH: Three banks secure Bangladesh Bank’s Islamic Banks Liquidity Facility
SAUDI ARABIA: Tamam partners with Tarabut Gateway to enhance Islamic microfinance service
SAUDI ARABIA: Merak Capital debuts Islamic credit fund to finance high-growth tech-related firms
BAHRAIN: Gulf Islamic Investments launches Gulf Ventures Capital in Bahrain; to focus on sustainability projects among others
GLOBAL: International Islamic Liquidity Management Corporation concludes auction of US$920 million short-term Sukuk
MALAYSIA: RAM reaffirms ‘AA3’ and ‘A1’ ratings on MNRB Holdings’s senior and subordinated Sukuk respectively
SAUDI ARABIA: Moody’s assigns ‘A1’ ratings to GreenSaif Pipelines’s Sukuk certificates
NIGERIA: Nigeria distributes NGN130 billion (US$282.07 million) raised from sovereign Sukuk for road infrastructure works
BRUNEI: Brunei Darussalam Central Bank prices 109th issuance of Islamic treasury bills at BN$5 million (US$3.77 million) with profit rate of 2.9%
BANGLADESH: Bangladesh Bank auctions Islamic Banks Liquidity Facility receiving one bid worth BDT2 billion (US$18.41 million)
SAUDI ARABIA: Saudi Central Bank grants license to Cigna Worldwide Insurance Company, the first foreign insurance company branch in Saudi Arabia
SAUDI ARABIA: Saudi Investment Bank completes second tranche Sukuk offer worth SAR500 million (US$133.15 million)
UAE: SHUAA Capital to launch Islamic money market fund in second quarter of 2023; records 210% growth of ICC fund’s assets
UAE: Emirates Islamic partners with Plug and Play to find Islamic fintechs and start-ups to collaborate with
PAKISTAN: State Bank of Pakistan injects PKR186 billion (US$672.63 million) in Mudarabah-based open market operation liquidity
GLOBAL: Dubai-based Arzan Wealth provides advisory on Shariah compliant mezzanine financing for healthcare facility in the US
IRAN: Iranian central bank to start trial phase of digital Rial soon
GLOBAL: IsDB establishes IsDB Digital Inclusion Technical Working Group to support digital inclusion strategy
GLOBAL: AAOIFI focus group discusses challenges of accounting and financial reporting under hyperinflation
UAE: Fahim Al Sehhi resigns as CEO of Arab Insurance Company – SALAMA
Wednesday, 04 Aug 2010 | Volume7.Issue31
FeaturesWednesday, 04 Aug 2010 | Volume7.Issue31
News BriefsWednesday, 04 Aug 2010 | Volume7.Issue31
MovesWednesday, 04 Aug 2010 | Volume7.Issue31
News BriefsWednesday, 04 Aug 2010 | Volume7.Issue31
News Briefs