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ISLAMIC FINANCE

IMA Encourages Proactive Issues Resolution, Personal Accountability and Whistleblower Protections in Revised Ethics Guidance

July 18, 2017

IMA Encourages Proactive Issues Resolution, Personal Accountability and Whistleblower Protections in Revised Ethics Guidance

IMA® (Institute of Management Accountants) today introduced a revision to its Statement of Ethical Professional Practice (SEPP), designed to help guide the ethical aspects of the business, as well as personal decisions of IMA members and other management accounting"... Continue Reading

Bank of America Reports Second-Quarter 2017 Financial Results 

July 18, 2017

Bank of America Reports Second-Quarter 2017 Financial Results 

(ME NewsWire)-- Bank of America reported its second-quarter 2017 financial results today. The news release, supplemental filing and investor presentation can be accessed in the following ways:

Kuwait Finance House Q2 net profit up 17.1 pct, in line with expectations

July 16, 2017

Kuwait Finance House (KFH), the country's biggest Islamic lender, reported a 17.1 percent rise in second-quarter net profit according to Reuters' calculations, in line with analysts' expectations

Net profit rose to 43.1 million dinars ($142.2 million) in the three months to June 30, from 36.8 million dinars in the same"... Continue Reading

ISDB launches USD 500 mln-fund for science, technology, innovation

July 3, 2017

The Islamic Development Bank (IsDB) has launched a USD 500 million fund for science, technology and innovation.
The IsDB board members approved the establishment of the fund in their meeting in the Saudi city of Jeddah today.
In statements to the Saudi Press Agency (SPA), the IsDB Board Chairman Bandar Al-Hajjar noted that the fund would finance"... Continue Reading

ISIT Offer Adaptive Security Solution as Long-Term Answer to Ransomware Like WannaCry and Petya

July 3, 2017

ISIT Offer Adaptive Security Solution as Long-Term Answer to Ransomware Like WannaCry and Petya

The latest ransomware attack known as “Petya” paralyzed many organizations in Europe and the US. This is the second worldwide ransomware attack in the past two months, and we believe these attacks will only increase in frequency and become more sophisticated. The continuous string of attacks means that we need to face the reality that we are in a state of continuous compromise when it comes to"... Continue Reading

IDB approves USD 1.44 bln funds for projects in member states

July 2, 2017

The Islamic Development Bank (IDB) on Sunday announced that its Board of Executive Directors endorsed new funds to carry out some projects totaling approximately USD 1.44 billion in member states.
Following the board meeting, the bank said in a statement that the new funds included projects in the areas of electricity, sharing expertise, water, sewage, industry, housing, telecommunications,"... Continue Reading

Kuwait’s Islamic finance sector on strong growth trajectory, IMF says

June 25, 2017

Kuwait’s Islamic financial services sector is growing rapidly, with Islamic banking emerging as the most developed component of the industry, according to a recent study by the International Monetary Fund (IMF).

Kuwait’s Islamic banking industry has grown rapidly to become an important part of the domestic and global"... Continue Reading

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