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ISLAMIC FINANCE

Kuwait Finance House sets up $3 bln sukuk programme

May 23, 2018

Kuwait Finance House sets up $3 bln sukuk programme

Kuwait Finance House (KFH), the country’s second biggest lender by assets, has established a $3 billion Islamic bonds programme that would mark its largest foray into the market for sukuk.

KFH will issue the certificates via a special purpose vehicle incorporated in the Dubai International Financial Centre (DIFC), a state-owned"... Continue Reading

Union Properties gets shareholders' approval for Dh1bn sukuk

May 21, 2018

Union Properties gets shareholders' approval for Dh1bn sukuk

Union Properties shareholders approved the developer's plans to shore up its finances through the issuance of up to Dh1 billion in sukuk and increase the company’s foreign ownership limit, as the firm continues to re-organise its business amid tough market conditions.

The Dubai developer that swung to a Dh2.38bn loss"... Continue Reading

Kuwait's Noor Financial to divest stake in Pakistan's largest Islamic bank

May 19, 2018

Kuwait's Noor Financial to divest stake in Pakistan's largest Islamic bank

Noor Financial Investment Company will divest a portion of its 49 percent stake in Meezan Bank, Pakistan’s largest Shariah-compliant lender and sixth largest bank.

The company is in “preliminary non-binding discussions with foreign institutional investors for a proposed divestment of 9.59% of the total issued and paid"... Continue Reading

Demand for IT, computer science skills on the rise: Oracle exec

May 15, 2018

Demand for IT, computer science skills on the rise: Oracle exec

With the emergence and growth of new technologies like big data, Artificial Intelligence, machine learning and cloud computing, the demand for IT and computer science skills has consistently risen and will continue to rise for the foreseeable future globally, said Jane Richardson, Senior Director, Oracle Academy, EMEA in an interview. Excerpts:

Kuwait"... Continue Reading

KFH-Bahrain launches new online bank

May 14, 2018

KFH-Bahrain launches new online bank

Aiming to gain more clout in the cyber world, banks in Bahrain have started offering full-fledged digital services, and customers could be months away from seeing an entirely digital bank away from the traditional brick and mortar.

First it was Gulf International Bank which last month opened a digital-only Shariah-compliant banking service in Bahrain, called “meem” and now it's"... Continue Reading

IFSB successfully organises lecture on financial policy, stability

May 6, 2018

IFSB successfully organises lecture on financial policy, stability

The Islamic Financial Services Board (IFSB) successfully organised the IFSB’s 10th Public Lecture on Financial Policy and Stability on May 1, 2018 in Kuwait City, Kuwait, in conjunction with the IFSB Annual Meetings 2018.

The IFSB Annual Meetings 2018 is hosted by the Central Bank of Kuwait. The first lecture themed Financial"... Continue Reading

Countries took Kuwaiti Islamic banking practices on board - CBK chief

May 3, 2018

Countries took Kuwaiti Islamic banking practices on board - CBK chief

Kuwait Central Bank Governor Mohammad Al-Hashel has stated that several countries have been successful in implementing the policies of Kuwait's Islamic financial institutions.
Al-Hashel made the remarks at a two-day international conference on Islamic finance, hosted by CBK under the auspices of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah.
Islamic finance has witnessed 'exceptional'"... Continue Reading

Kuwait owns 6% of Islamic banking assets: Central Bank

May 2, 2018

Kuwait owns 6% of Islamic banking assets: Central Bank

Kuwait accounts for around six percent of all Islamic banking assets in the world, the Central Bank of Kuwait’s (CBK) Executive Director for the Supervision Sector Waleed Al-Awadhi said yesterday. In a speech to open the Islamic Financial Services Council’s annual meeting held in Kuwait, he noted that the Gulf state has been instrumental in the rise of the Islamic finance industry, having launched"... Continue Reading

CBK-IFSB to hold Islamic finance conference on May 2

May 1, 2018

CBK-IFSB to hold Islamic finance conference on May 2

The Central Bank of Kuwait (CBK) and the Islamic Financial Services Board (IFSB) are pleased to announce the agenda for the upcoming CBK-IFSB Islamic finance conference held on May 2, 2018, in Kuwait City, under the patronage of His Highness the Amir Sheikh Sabah Al-Ahmad AL-Jaber Al-Sabah.

The conference will see a line-up of"... Continue Reading

KFH reports KD 44m net profit for Q1

May 1, 2018

KFH reports KD 44m net profit for Q1

Chairman of Kuwait Finance House (KFH) Hamad Abdulmohsen Al-Marzouq said that KFH has, by the grace of Allah, reported net profits of KD 43.97 million for the first quarter of 2018 for KFH shareholders compared to KD 38.59 million for the same period last year i.e., an increase of 13.9 percent.

Net finance income for Q1 this year"... Continue Reading

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