Arab banks need to create a regional centre for information on credit as part of post-crisis reforms aimed at developing services and protecting banks against fresh problems, the Union of (more…)
November 12, 2009
Abu Dhabi government investment firm mulls buys for PE fund
Invest AD, the Abu Dhabi government investment firm, is studying three investment opportunities for its new private equity fund that aims to raise $400 million, with a first close for the fund slated for mid-2010, the head of private equity said. “We are currently looking at three different opportunities, all mid-stage, but for two of those we’re looking at majority stakes,” Samir Assaad told Zawya Dow Jones in an interview Wednesday. Read More at Maktoob
Qatari Sharia-compliant announces extension to its salary transfer campaign
QNB Al Islami has announced the extension of its campaign to provide customers transferring their salaries to QNB Al Islami with the opportunity to secure Double Their Salary in Free Tawlia-based Finance (more…)
ProgressSoft and S1 forge corporate banking and trade finance alliance
ProgressSoft Corporation, a renowned provider of real-time payment and imaging solutions, and S1 Corporation, a leading global provider of multichannel financial services software, signed a strategic partnership under which ProgressSoft (more…)
Syria-based bank secures landmark project finance facility
Bank Audi sal – Audi Saradar Group announced that it closed a 7-year landmark $340m project finance facility in favour of Lafarge Cement Syria, for the partial funding of the first private (more…)
Bahraini Islamic lender books steep decline in quarter
November 11, 2009
Major Omani bank likely to book writedown on Pak lender
Bank Muscat, Oman’s largest lender by market value, on Wednesday said it may have to write-down a significant part of its OR23.4m ($60.79m) investment in Pakistan’s Silkbank bank in the (more…)
Gulf issues leading bond markets
Gulf bond sales are accelerating at a faster rate than anywhere in the world as international investors buy sovereign and corporate debt from the Emirates, a senior Bank of America (more…)
Crisis fallout on Islamic finance to be reviewed
The impact of the credit crunch on Islamic finance will be discussed at a unique UK Trade & Investment (UKTI) roundtable debate at the 16th Annual World Islamic Banking Conference (more…)
Insurance sector to see rise in premium volumes
Insurance players are optimistic about growth in premium volumes in the coming three years along with an increase in capital reserves and organic expansion, a latest survey has revealed. (more…)