With an over 20% of sustained annual growth and having achieved the critical volume estimated at $1 trillion in Islamic assets by 2010, the Islamic financial institutions are at cross roads entering 2011, according to said Ernst & Young. “The [...]
Bahrain-based Ithmaar Bank, an Islamic retail and commercial bank, and Ahli United Bank (AUB), a full commercial banking institution signed a $167million five-year secured Morabaha facility. The secured Morabaha facility, Sharia-compliant Islamic finance, is fully underwritten by AUB. The agreement [...]
Bahrain Islamic Bank (BiSB) has received an award for Best Islamic Banking Website 2010 at the annual ceremony organized the Arab Website Shield Award recently in Beirut, Lebanon, the bank in a statement said. “We are pleased with this recognition [...]
Bahrain-based leading Islamic banking group Al Baraka Banking Group (ABG) will continue to implement the proactive strategies aimed at serving the global client based in a result-oriented way, a top official at the bank said. “Winning the Best Regional Bank [...]
Fitch Ratings has downgraded Turkey-based Albaraka Turk Katilim Bankasi A.S.’s (Albaraka Turk) long-term foreign currency issuer default rating (IDR) to ‘B+’ from ‘BB- with outlook stable.The long-term local currency IDR downgraded to ‘B+’ from ‘BB-’ with outlook stable as well [...]
Bahrain-based Gulf Finance House (GFH) is eyeing the $1 trillion Islamic finance market by exploring opportunities in all vital segments of this rapidly growing global segment of the global economic system, a senior official at the GFH said. “GFH has [...]
Fitch Ratings has affirmed Islamic Development Bank’s (IDB) long-term issuer default rating (IDR) at ‘AAA’ and its short-term IDR at ‘F1+’. The outlook for the long-term IDR is stable. “The ratings primarily reflect IDB’s strong capitalisation, low leverage and strong [...]
