Banking

Related Content

SME Banking

Mawarid to issue certificates of deposit
Mawarid Finance was yesterday given the green light to issue certificates of deposit by the Dubai Department of Economic Development. Marwarid, a privately owned joint stock company, provides Shariah compliant financial services and usually certificates of deposit can only be done by one of the 46 banks operating in the UAE. It means Marwarid is now considered to be one of the banks operating in the country.
United Arab Emirates: Sunday, May 18 - 2008 at 10:59

Iranian bank banned in EU
Iran's Bank Melli is set to be banned from operating in the EU. The country's biggest commercial bank, it operates from branches in the UK, France and Germany, despite US calls since last summer not to deal with the bank. European member states refused to act unilaterally, however the EU is now likely to act following a UN Security Council resolution.
Iran: Sunday, May 18 - 2008 at 07:42

Fujairah bank opens new branch
The National Bank of Fujairah has opened a new branch in Tawain in Fujairah. Its twelfth branch - of which five are in Fujairah - the opening is part of its strategy to have a high presence in key local markets. On Wednesday, the bank reported a 31% drop in Q1 net profits to Dhs55.4m.
United Arab Emirates: Saturday, May 17 - 2008 at 09:31

Ithmaar Bank Q1 profit up 91%
Bahrain-based Ithmaar Bank said its net profit jumped 91% in the first quarter to $59.3m, as the bank and its subsidiaries and associates in the Middle East, Asia Pacific, Europe and North Africa continued their expansion into new markets. The bank's operating profit, meanwhile, nearly doubled, from $32.5m to $62.9m.
Bahrain: Thursday, May 15 - 2008 at 14:22

ANZ opens office in Dubai
Australia & New Zealand Banking Group Ltd, Australia's third-biggest bank, has opened an office in Dubai, reported Bloomberg. The office will focus on selling mortgages to the Middle East's 45,000 expatriate Australians and New Zealanders as well as providing export and trade financing services.
United Arab Emirates: Thursday, May 15 - 2008 at 13:53

Kuwait restricts real estate lending
Kuwait's central bank is issuing new rules tightening real estate and share lending loans after imposing similar restrictions on consumer lending to help slow inflation, reported Daily Al Qabas. The central bank has informed local lenders they must set a risk weight of 150% in their balance sheets for commercial real estate and share buying loans, the daily reported, without citing a source. The new rules would exclude loans for private mortgages.
Kuwait: Thursday, May 15 - 2008 at 07:06

National Bank of Fujairah Q1 profit dips 31%
National Bank of Fujairah said its net profit fell 31% to Dhs55.4m in the first quarter of this year due to a downturn in the global investment climate. Investment losses for the quarter were Dhs30.3m as opposed to investment income of Dhs22.5m for the corresponding quarter of 2007.
United Arab Emirates: Wednesday, May 14 - 2008 at 10:49

Albaraka Q1 income up 51%
Bahrain-based Albaraka Banking Group has reported that its operating income jumped 51% to $140.61m in the first quarter of 2008 compared to $93.01m for the same period of last year, reported the Bahrain Tribune. The Islamic banking group's net profits rose 59% and its operating income climbed 68% percent over the same period.
Bahrain: Wednesday, May 14 - 2008 at 09:38

Index : Banking : Page 16