Islamic Finance
Infrasoft to widen horizon, focus on Islamic banking
IT products, solutions and services provider Infrasoft Technologies has said it will focus on countries like Bahrain, Saudi Arabia, Dubai, Qatar and Malaysia to target Islamic banking and Islamic investment banking firms for end-to-end enterprise solutions. Core banking solutions, automation of business processes, back-end solutions are on its radar.
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RHB Revises BLR/BFR
The RHB Banking Group has revised its base lending rate (BLR) for RHB Bank Bhd and RHB Islamic Bank base financing rate (BFR) from 6.05 per cent to 6.30 per cent per annum effective tomorrow.
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BisB planning to boost capital in growth push
Bahrain Islamic Bank (BisB) is planning to increase its capital base. The bank said it is to boost its paid-up capital to address the growth requirements of its finance and investment portfolios. The decision was taken during a board meeting under the chairmanship of Khalid Abdulla Al Bassam.
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Banks to revise deposit rates, BLR
Several banks will be increasing rates on lending and deposit from Monday after Bank Negara raised its key policy rate for the third time this year.
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Sukuk Auction Failures Send Indonesia Overseas: Islamic Finance
The failures of 10 rupiah Sukuk auctions this year are prompting Indonesia’s finance ministry to revive demand for its Islamic debt by tapping international investors and possibly changing its sales practices.
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Bermuda likely to host first Islamic bank by year-end
Bermuda is likely to see the first Islamic financial institution to be up and running by the year end, a development which will boost the chances for Bermuda to become an emerging hub for the Islamic banking and finance in the Western Hemisphere.
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Call to tap insurance potential
Synergies between Bahrain and Bermuda mean the two countries have the potential to increase their financial sectors, particularly in the field of insurance and reinsurance.
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Qatar National Bank Q2 net profit rises 35 pct
Qatar National Bank QNBK.QA (QNB), the Gulf state's largest lender by market capitalisation, posted a 35.4 percent jump in second-quarter profit on Tuesday, beating market forecasts, as loans and customer deposits grew.
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Study shows Islamic banks perform best during economic crisis
Islamic banking practice performed better and showed greater resilience during the recent economic crisis than conventional banking practice, according to new research released today by The British University in Dubai (BUiD), the Middle East's leading research-based postgraduate university.
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HSBC Amanah opens its first dedicated Islamic banking branch in Qatar
HSBC Amanah opened its first branch dedicated to Shariah compliant products and services in Qatar. To mark the occasion, HSBC Group Chief Executive Officer, Michael Geoghegan, and Governor of the Qatar Central Bank, H.E. Sheikh Abdullah bin Saoud Al Thani performed the opening ceremony today at the branch based at Salwa Road in Doha.
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