Islamic Finance

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 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 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: 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 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 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 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.