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Showing posts from 2011

Dubai Islamic Bank: Dar Al Sharia voted best advisory firm | HALALTAMWEEL.COM

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Dubai Islamic Bank: Dar Al Sharia voted best advisory firm | HALALTAMWEEL.COM DUBAI: Dar Al Sharia Legal and Financial Consultancy, a subsidiary of Dubai Islamic Bank, has been voted "Best Sharia Advisory Firm" for the third consecutive year in the Islamic Finance News (IFN) - Best Service Providers Poll 2011.

QIB acquires IBQ’s Islamic banking corporate portfolio | HALALTAMWEEL.COM

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QIB acquires IBQ’s Islamic banking corporate portfolio | HALALTAMWEEL.COM DOHA: Qatar Islamic Bank (QIB) has announced the acquisition of IBQ’s Islamic banking corporate portfolio (Al Yusr). An agreement to seal the deal was signed by Ahmad Meshari, Acting CEO of QIB and George Nasra, IBQ Managing Director.

UK's EIIB in talks with Rasmala over stake | HALALTAMWEEL.COM

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UK's EIIB in talks with Rasmala over stake | HALALTAMWEEL.COM DUBAI: European Islamic Investment Bank confirmed it was talking to Rasmala Holdings Limited about an investment, after two sources told Reuters the group was in talks to buy a 30 percent stake in its Dubai-based Rasmala Investment Bank unit.

Meezan Bank to provide long-term financing to Linde Pakistan | HALALTAMWEEL.COM

Meezan Bank to provide long-term financing to Linde Pakistan | HALALTAMWEEL.COM KARACHI: Meezan Bank Limited and Linde Pakistan Limited, formerly known as BOC Pakistan Limited, have entered into a Diminishing Musharakah Agreement for the setup of a new state-of-the-art Air Separation Plant and related supply chain equipment by Linde Pakistan.

Urgent need of introducing Islamic Banking in Kashmir: Mirwaiz | HALALTAMWEEL.COM

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Urgent need of introducing Islamic Banking in Kashmir: Mirwaiz | HALALTAMWEEL.COM SRINAGAR: Chairman of Hurriyat Conference Mirwaiz Umar Farooq on Tuesday urged Reserve Bank of India (RBI) to clear the roadblocks in establishing Islamic Banking in the Valley.

The NR Eye: NRIs, experts renew call for Islamic banks in India | HALALTAMWEEL.COM

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The NR Eye: NRIs, experts renew call for Islamic banks in India | HALALTAMWEEL.COM MUMBAI: Stock indices the world over are on a roller-coaster ride. The euro zone debt crisis is bringing back visions of the 2008 sub-prime tangle. India is struggling with external debts and a plummeting currency.

NCB honored at Islamic economics forum | HALALTAMWEEL.COM

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NCB honored at Islamic economics forum | HALALTAMWEEL.COM MUSCAT: The National Commercial Bank has achieved a new prestigious title that reconfirmed its leadership position in the Islamic banking arena. NCB received the best Islamic bank of the year award at a recent event in Oman.

Dr. Khaled Al Fakih Appointed as AAOIFI Secretary General | HALALTAMWEEL.COM

Dr. Khaled Al Fakih Appointed as AAOIFI Secretary General | HALALTAMWEEL.COM H. E. Shaikh Ebrahim Bin Khalifa Al Khalifa, Chairman of Board of Trustees of Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI), has announced the appointment of Dr. Khaled Al Fakih as the new Secretary General of AAOIFI.

Halal Food Accreditation programme from Jan | HALALTAMWEEL.COM

Halal Food Accreditation programme from Jan | HALALTAMWEEL.COM ISLAMABAD:To boost up export and local sale, the government announced to launch Halal Food Accreditation programme from January next year. The first sectoral committee meeting held here on Tuesday under the chair of Director General Pakistan National Accreditation Council (PNAC) Anjum Bashir. The meeting was attended by different religious scholars, representatives of the chambers and various private sectors.

SBP sells Rs 70.269 bln Ijarah Sukuk | HALALTAMWEEL.COM

SBP sells Rs 70.269 bln Ijarah Sukuk | HALALTAMWEEL.COM KARACHI: The State Bank of Pakistan (SBP) sold Rs 70,269.100 million worth of Ijara Sukuk (Islamic bonds) having a maturity of three years in its auction held here on Tuesday, informed the communiqué issued by SBP.

Work at public-private mega projects geared up | HALALTAMWEEL.COM

Work at public-private mega projects geared up | HALALTAMWEEL.COM SIALKOT: The pace of work on two mega projects, Sports Industries Development Centre (SIDC) and Sialkot Business and Commerce Centre (SBCC) costing more than Rs. 776 million, has been geared up to touch the finishing line in current fiscal year.

Food exports surge 22.7 percent to reach a $1.514 bln | HALALTAMWEEL.COM

Food exports surge 22.7 percent to reach a $1.514 bln | HALALTAMWEEL.COM ISLAMABAD: The exports of food commodities surged by 22.73 percent during the first five months of the current fiscal year to reach at $1.514 billion, Federal Bureau of Statistics (FBS) reported.

Strained Pak US ties not to affect economy | HALALTAMWEEL.COM

Strained Pak US ties not to affect economy | HALALTAMWEEL.COM KARACHI: The relationship between the two major allies, Pakistan and the United States has been remained patchy during the year, following series of unfavorable events.

Rating boost for Al Baraka Group | HALALTAMWEEL.COM

Rating boost for Al Baraka Group | HALALTAMWEEL.COM MANAMA: Al Baraka Banking Group (ABG) yesterday announced that Standard & Poors (S&P) reaffirmed ABG's investment grade long-term counterparty credit rating of BBB-/A-3 (Short Term) with a Negative Outlook.

SBP to hold auction for Rs 50bln Sukuk today | HALALTAMWEEL.COM

SBP to hold auction for Rs 50bln Sukuk today | HALALTAMWEEL.COM KARACHI: State Bank of Pakistan (SBP) is inviting tenders today on (Tuesday) for the sale of three-year government of Pakistan Ijara Sukuk (GIS), according to the communique issued by SBP. The government will borrow around Rs 50 billion through sales of instruments to Islamic financial institutions.

SBP to develop liquidity management solution for Islamic Banking | HALALTAMWEEL.COM

SBP to develop liquidity management solution for Islamic Banking | HALALTAMWEEL.COM KARACHI: Governor State Bank of Pakistan (SBP) Yaseen Anwar has informed on Monday that SBP currently developing a comprehensive liquidity management solution for Islamic Banking Institutions (IBIs) following extensive efforts made both by the industry and the SBP.

Turkey's Albaraka says postpones sukuk issue

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Turkey's Albaraka says postpones sukuk issue ISTANBUL: The Turkish unit of Bahrain's Albaraka Banking Group said on Thursday it had postponed a planned issue of Islamic bonds.

Standard Chartered Opens Talks With Regulators on Islamic Banking

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Standard Chartered Opens Talks With Regulators on Islamic Banking ABUJA: Standard Chartered bank has opened discussion with regulators to offer Islamic banking services in Nigeria and Oman now that both countries are revamping their regulatory environments to encourage Islamic finance.

DIBPL launches 1st Islamic Priority Banking Solution

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DIBPL launches 1st Islamic Priority Banking Solution KARACHI: Dubai Islamic Bank Pakistan Limited (DIBPL) has launched Pakistan's first Islamic Priority Banking Solution to offer its exclusive customers with a gateway to an exquisite banking experience.

Al Baraka's website wins key award

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Al Baraka's website wins key award MANAMA: Al Baraka Banking Group (ABG) has won the Best Corporate Website award for 2011 among largest Bahraini listed companies for the second successive year.

Saudi's Riyadh airport to triple in size over 5 yrs

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Saudi's Riyadh airport to triple in size over 5 yrs RIYADH: Saudi Arabia plans to expand its capital's airport three-fold in size within the next five years, a senior civil aviation official said on Monday, as passenger traffic rises rapidly. The Riyadh airport is one of 27 in the kingdom. Saudi Arabia's airport traffic has reached 50 million passengers annually and is expected to exceed 80 million within the next 10 years, the official said.

Saudi sukuk may serve monetary policy goals

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Saudi sukuk may serve monetary policy goals DUBAI: A proposed Islamic bond issue by Saudi Arabia to serve important monetary policy goals.

BCP suspends marketing Islamic products in Morocco | Islamic Finance | CPI Financial

BCP suspends marketing Islamic products in Morocco | Islamic Finance | CPI Financial According to the latest statistics from Bank Al-Maghrib, Islamic financing totalled MAD 744 million ($89.3 million) at the end of July, down 15 per cent since the beginning of the year. La Vie Eco quotes Laidi El Wardi, Deputy General Manager of Banque Centrale Populaire (BCP) as saying the bank’s move to suspend marketing Shari’ah-compliant products, "...is in response to technical problems at the marketing of our solutions."

IDB wants to set up Islamic Microfinance Institution in Bangladesh

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IDB wants to set up Islamic Microfinance Institution in Bangladesh DHAKA: The Jeddah-based Islamic Development Bank (IDB) expressed its willingness to set up an Islamic Microfinance Institution (IMFI) in Bangladesh, a senior government official said Wednesday.

Industry Experts to Share Expertise at KL Conference on Islamic Wealth Management

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Industry Experts to Share Expertise at KL Conference on Islamic Wealth Management KUALA LUMPUR: Industry experts are set to share their wide spectrum of expertise at the upcoming Kuala Lumpur Conference on Islamic Wealth Management 2011. The two-day conference from Dec 20 is organized by Kuala Lumpur-based Alfalah Consulting, an international consulting and training provider specialized in the areas of Islamic finance, Islamic wealth management, business & management and professional development. The conference would explore key principles and avenues of Islamic wealth management, including Islamic wealth creation, accumulation, protection, distribution and purification in the wealth management cycle, the company said in a statement. It enables individuals, investors and corporations to learn and understand better about Islamic wealth management and financial planning from industry experts with a wide spectrum of expertise. The conference will be an excellent platform to gain knowl

Silkbank to step in Islamic banking world

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Silkbank to step in Islamic banking world KARACHI: State Bank of Pakistan (SBP) has finally granted Silkbank Limited a license to kick off its Islamic banking operations in Pakistan, said the press release issued on Monday.

Bangladesh Islamic banking solution (IBS) software co move to expand market abroad

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Bangladesh Islamic banking solution (IBS) software co move to expand market abroad DHAKA: Millennium Information Solution Limited , a Gartner-awarded Islamic banking solution (IBS) software company, is now moving to Asian countries with its flagship product 'Ababil' to cope with the rising demand of Islamic Shariah-based banking.

Albaraka Turk hopes to raise $200m in sukuk-CEO

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Albaraka Turk hopes to raise $200m in sukuk-CEO ISTANBUL: The Turkish unit of Bahrain's Albaraka Banking Group hopes to raise $200 million in an Islamic bond by the end of this week and is seeing interest from Asian and Arab Gulf investors, the group's chief executive said on Sunday.

Islamic finance continues to evolve in East Africa

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Islamic finance continues to evolve in East Africa DAR ES SALAAM: Amana Bank, Tanzania’s first fully Shari’ah-compliant bank, was launched on 24 November in Dar es Salaam; the latest of a long line of developments for Islamic finance in East Africa. Chairman of the Board of Directors for Amana Bank, Haroon Pirmohamed, said that the bank is the result of a need for an alternative to a conventional banking system that provides ethical and fair modes of banking for all.

Standard Chartered eyes Oman, Nigeria for Islamic banking

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Standard Chartered eyes Oman, Nigeria for Islamic banking DUBAI: Standard Chartered is in discussions with regulators to offer Islamic banking services in Oman and Nigeria, now that both countries are revamping their regulatory environments to encourage Islamic finance, the bank's global head of Islamic banking on Sunday.

Saudi Hollandi Bank introduces ‘new generation’ of Islamic banking services

Saudi Hollandi Bank introduces ‘new generation’ of Islamic banking services RIYADH: In a recent forum, the bank's Shari’ah advisory board members and customers discuss with Saudi Hollandi executives ideas on how Islamic banking will evolve over the coming years.

South Africa Seeks Banks to Advise It on Structuring, Sale of Sukuk Bonds

South Africa Seeks Banks to Advise It on Structuring, Sale of Sukuk Bonds South Africa invited banks to submit proposals for the sale of its first Islamic bond as the continent’s biggest economy seeks to broaden access to financing.

Islamic finance solves economic problems, says KFH-Bahrain CEO

Islamic finance solves economic problems, says KFH-Bahrain CEO MANAMA: Kuwait Finance House-Bahrain CEO and MD Abdul Hakim Al-Khayyat said that Islamic banking has numerous advantages and capabilities that allow it to play a pivotal role in solving many economic problems in the GCC.

Dubai Islamic opens learning centre

Dubai Islamic opens learning centre DUBAI: Dubai Islamic Bank (DIB) has announced the opening of its new learning and development centre that will help deliver the industry’s best training programme.

Deutsche names Islamic finance chairman, head of structuring

Deutsche names Islamic finance chairman, head of structuring DUBAI: Deutsche Bank appointed Salah Jaidah, its chief country officer for Qatar, as chairman of Islamic finance business, it said in a statement on Monday. The lender also named Ibrahim Qasim as its head of Islamic finance structuring, it said in the statement.

Dubai Islamic opens learning centre

Dubai Islamic opens learning centre DUBAI: Dubai Islamic Bank (DIB) has announced the opening of its new learning and development centre that will help deliver the industry’s best training programme.

Dubai's November 2014 sukuk surges 84 points

Dubai's November 2014 sukuk surges 84 points DUBAI: Yields on Dubai's non-rated 6.396 per cent sukuk maturing in November 2014 surged 84 basis points last month to 6 per cent in Dubai, poised for the second-biggest monthly jump since state-owned holding company Dubai World sought to delay payments on $25 billion of debt in November 2009.

Brisk session at Pakistan cotton market

Brisk session at Pakistan cotton market KARACHI: Pakistan cotton market observed brisk trading session on Friday however prices remained unchanged. Mills indulged in active trading in expectation that prices would increase in upcoming days. The Karachi Cotton Association (KCA) official spot rate remained unchanged at Rs 5,300 per maund while physical prices of better grade lint fetched Rs 5,600 per maund.

Karachi Stocks Halal Index erodes by 3.5pct in Nov

Karachi Stocks Halal Index erodes by 3.5pct in Nov KARACHI: The Halal Stock Index KMI-30 eroded by a 3.5 percent in the month of October with dull volumes. The low volumes are still the major concern for the local bourse as it remained unable to regain the confidence of retail as well as institutional investors.

KESC Power fully subscribes to right shares

KESC Power fully subscribes to right shares KARACHI: The sponsors and holding company of Karachi Electric Supply Company (KESC), M/s KES Power Ltd have fully subscribed to their portion (72.58%) or right shares at the subscription price of Rs 3.50 per share.

Habib Metropolitan Bank: Islamic Banking Business net assets climb by 26.93pct

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By Riffat Mughal KARACHI: Habib Metropolitan Bank Limited- Islamic banking business net assets surged by 26.93 percent during nine months of the calendar year 2011 (9MCY11). The net assets of the bank have reached Rs 1,447.765 million during the period as against Rs 802.141 million in the corresponding period last year. Bank’s financing and receivables climbed up by 3.96 percent to Rs 5,682.244 million. In the total financing and receivables, Murabaha portfolio contributed Rs 3,784.271 million, showing a surge of 28.03 percent. Bank’s Ijarah portfolio reduced by 17.16 percent to Rs 1,110.614 million in the 9MCY11. Out of total financing and receivables, Murabaha portfolio contributed 66.60 percent, Ijarah portfolio constituted 19.55 percent and diminishing Musharaka made up 10.64 percent of the total financing and receivables. Decline in Ijarah which is used for long term financing is a concern going forward. It seems that the bank is a bit behind in using the funds for

Harmonization of standards: Biggest challenge faced by Islamic Finance

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By Riffat Mughal KARACHI: Deutsche Bank Global Markets Research report on Islamic Finance has pointed out certain challenges and risks is being faced by Islamic finance industry. According to the report, one of the biggest challenges global Islamic finance industry is facing is Harmonization of standards, which indicates the fact that not every Islamic product is acceptable in certain countries. The different interpretations of Shariah compliancy are attributed to scholastic differences within Islam. All the five teachings --- Shafi, Shia, Hanafi, Hanbali and Maliki --- have subtle differences. The Malaysian system is generally seen to be less strict (or more progressive) than in the Gulf. The divergence of opinion between the Gulf States, Saudi Arabia and Malaysia is narrowing. In Malaysia, scholars prioritize on form over substance when deciding whether a particular product is Shariah-compliant or not, but GCC scholars contend that Shariah compliance lies in the intent

HBL Islamic Banking Business net assets surged

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By Riffat Mughal KARACHI: Habib Bank Limited (HBL) Islamic banking business and First Habib Bank Modaraba net assets increased by 37.35 percent during nine months of the calendar year 2011 (9MCY11). The net assets of the bank have reached Rs 1,251.246 million as on September 30, 2011 as against to Rs 910.970 million as on December 31, 2011. Bank’s financing and receivables surged by 18.66 percent to Rs 1,618.378 million. In the total financing and receivables Murabaha portfolio contributed Rs 132.427 million, increased of 156.01 percent. Bank’s Ijarah portfolio reduced by 8.01 percent to Rs 763.230 million during the 9MCY11. Out of total financing and receivables, Ijarah portfolio constituted 47.16 percent, Murabaha contributed 14.21 percent and Musharaka 3.92 percent. On liabilities side, total deposits and other accounts went up by 62.91 percent to Rs 9,329.105 million as on September 30, 2011 against Rs 5,726.476 million reported on December 31, 2011. Banks advances to

Islamic Bank of Britain launches Shariah compliant buy-to-let mortgage

Islamic Bank of Britain launches Shariah compliant buy-to-let mortgage LONDON:Islamic Bank of Britain (IBB) has entered the buy-to-let mortgage market with the launch of its Shariah compliant Buy to Let Purchase Plan (BTLPP).

Tamweel hire banks for likely bond sales

Tamweel hire banks for likely bond sales DUBAI: Tamweel, the mortgage company majority owned by Dubai Islamic Bank, hired banks for a possible bond sale as it seeks financing to repay liabilities and increase lending. The shares jumped the most in a month.

Farz Foundation, WCMP to work together on Islamic Finance

Farz Foundation, WCMP to work together on Islamic Finance KARACHI: The World Congress of Muslim Philanthropists (WCMP) and Pakistan’s Islamic microfinance institution Farz Foundation have singed a Memorandum of Understanding to further strengthen their partnership.

Bank of Khyber: Islamic Banking Business net assets climb by 26.42pct

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By Riffat Mughal KARACHI: Bank of Khyber (BoK) Islamic banking business net assets surged by 26.42 percent during nine months of the calendar year 2011 (9MCY11). The net assets of the bank have reached Rs 1,717.217 million during the period as against Rs 1,358.330 million in the corresponding period last year. Bank’s financing and receivables climbed up by 7.97 percent to Rs 3,144.305 million. In the total financing and receivables Murabaha portfolio contributed Rs 1,574.928 million, declined of 0.31 percent. Bank’s Ijarah portfolio reduced by 58.26 percent to Rs 111.524 million in the 9MCY11. However Ijarah under IFAS-2 surged during the period by 160.91 percent to Rs 707.327 million. Out of total financing and receivables, Murabaha portfolio contributed 50.09 percent, Ijarah under IFAS-2 portfolio constituted 22.50 percent and diminishing Musharaka added 25.16 percent. On liabilities side, total deposits and other accounts increased by 21.88 percent to Rs 9,381.153

Karachi stock: Market likely to witness range bound session

Karachi stock: Market likely to witness range bound session KARACHI: Karachi stock market is likely to remain range bound today as State Bank of Pakistan (SBP) decision to keep policy rate unchanged at 12 percent could not lift investors’ interest. However renewed interest in oil and fertilizer stocks on strong valuations can bring any positivity in the market.

Solum fund to treat sukuk as investment, not debt

Solum fund to treat sukuk as investment, not debt MANAMA: British-based, sharia-compliant investment firm Solum Asset Management will launch the first "investment sukuk" in the first quarter of next year, treating Islamic bonds as investment vehicles rather than debt instruments, its chief executive said.

French keen on learning from Saudi experience in Islamic banking: Envoy

French keen on learning from Saudi experience in Islamic banking: Envoy JEDDAH: French academics have shown their keenness to make use of Saudi expertise and experience in Islamic banking and finance, said Saudi Ambassador to Paris, Muhammad bin Ismail Al-Asheikh.

Bank of Khyber: Islamic Banking Business net assets climb by 26.42pct

Bank of Khyber: Islamic Banking Business net assets climb by 26.42pct KARACHI: Bank of Khyber (BoK) Islamic banking business net assets surged by 26.42 percent during nine months of the calendar year 2011 (9MCY11). The net assets of the bank have reached Rs 1,717.217 million during the period as against Rs 1,358.330 million in the corresponding period last year.

Technical Stock Snapshot

Technical Stock Snapshot The technical analysis showed that Halal Stocks KMI-30 share index would be bearish. Resistance around 21,291.70 resulted in a marginal break of 21,083.20 Support. Could adjust further to 20,999.65~20,874.70 area. We view last couple retreats as momentary reaction.

Gulf banks aim to boom on small and medium companies

Gulf banks aim to boom on small and medium companies DUBAI:Banks in the Gulf Arab region are keen on increasing their return of equity until 2015 through developing products and services for the almost untapped market for small and medium enterprises (SMEs).

Technical Stock Snapshot

Technical Stock Snapshot The technical analysis showed that Halal Stocks KMI-30 share index would be bearish. Resistance around 21,374.79 resulted in a marginal break of 20,968.57 Support. Could adjust further to 20,782.16~20,562.35 area. We view last couple retreats as momentary reaction. The short-term and intermediate profiles would remain negative therefore stay short.

Dubai Islamic eyes bond sale for unit Tamweel

Dubai Islamic eyes bond sale for unit Tamweel DUBAI: Dubai Islamic Bank (DIB) and its unit Tamweel, plans to conduct fixed income roadshows in Asia, Europe and the United Arab Emirates and a potential bond issue guaranteed by the bank may follow, DIB said on Wednesday.

Meezan Bank hosts real estate consultant conferences

Meezan Bank hosts real estate consultant conferences KARACHI: Meezan Bank, Pakistan's largest Islamic Bank organized real estate consultant conference at Karachi. A statement on Monday said that the moot in the metropolis was for selected real estate Agents and Builders of the city.

Standard Chartered Saadiq and Tamkeen introduce financial scheme to help SMEs

Standard Chartered Saadiq and Tamkeen introduce financial scheme to help SMEs MANAMA: Standard Chartered Saadiq and Tamkeen have introduced an Enterprise Finance scheme for Standard Chartered customers in Bahrain's market. Through the Enterprise Finance scheme, Tamkeen will offer the bank a 50 percent guarantee for the total financing amount as well as subsidize 50 percent of the profit payments due from the benefiting enterprises.

HBL Islamic Banking Business net assets surged

HBL Islamic Banking Business net assets surged KARACHI: Habib Bank Limited (HBL) Islamic banking business and First Habib Bank Modaraba net assets increased by 37.35 percent during nine months of the calendar year 2011 (9MCY11). The net assets of the bank have reached Rs 1,251.246 million as on September 30, 2011 as against to Rs 910.970 million as on December 31, 2011.

Standard Chartered Saadiq and Tamkeen introduce financial scheme to help SMEs

Standard Chartered Saadiq and Tamkeen introduce financial scheme to help SMEs MANAMA: Standard Chartered Saadiq and Tamkeen have introduced an Enterprise Finance scheme for Standard Chartered customers in Bahrain's market. Through the Enterprise Finance scheme, Tamkeen will offer the bank a 50 percent guarantee for the total financing amount as well as subsidize 50 percent of the profit payments due from the benefiting enterprises.

Dull trade at Pakistan cotton market

Dull trade at Pakistan cotton market KARACHI: Dull trading session witnessed at Pakistan cotton market due to lack of positive triggers. The Karachi Cotton Association (KCA) official spot rate remained intact at Rs 5,200 per maund while physical prices of better grade lint fetched Rs 5,300 per maund.

Standard Chartered Islamic Banking Business net assets up by 63.16pct

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By Riffat Mughal KARACHI: Standard Chartered Bank (SCB) Islamic banking business net assets surged by outstanding 63.16 percent during nine months of the calendar year 2011 (9MCY11). The net assets of the bank have reached Rs 2,800.690 million as on September 30, 2011 as against Rs 1,716.558 million as on December 31, 2011. Bank’s financing and receivables went up by 47.41 percent to Rs 13,766.007 million. In the total financing and receivables, Murabaha portfolio contributed Rs 3,300.083 million, showing an increase of 87.70 percent. Diminishing Musharaka portfolio surged by 35.87 percent to Rs 10,261.761 million during the 9MCY11. Out of total financing and receivables, Diminishing Musharaka portfolio constituted 74.54 percent and Murabaha contributed 23.97 percent. Diminishing Musharakah is a financing instrument used for long term financing. Increase in its share confirms that bank’s advances to deposit ratio would sustain the current levels achieved. More ex