New Islamic economy products unveiled in Dubai

The first product launched was the ‘Exchangeable Sukuk’, which has been created to mobilize resources using Sukuk that are tradable and don’t require the utilization of bank assets.


Jump in Islamic tax liabilities worries Saudi banks

In the last couple of weeks, several major banks have disclosed that the government’s General Authority of Zakat and Tax is seeking additional zakat payments from them for years going back as far as 2002.


QIB gets nod to raise limit of its sukuk plan to $4bn

The general assembly also approved the board’s recommendation to increase in percentage ownership of non-Qataris in QIB’s capital from 25% to 49%, as well as the distribution of 50% cash dividends at QR5 per share.


Maisarah sets up sukuk programme

The first tranche of the sukuk Al Wakalah with a size of OMR50 million has been successfully closed by way of private placement.


Saudi developer plans debut sukuk for social housing

Sukuk are a common funding tool in the Gulf, used predominantly by Islamic banks, sovereigns and sovereign-linked firms, but issuance from private companies is seen as an important step to deepen the market.


Al Rajhi Bank: Looking to the future

In a conversation with Robin Amlôt, Consultant at CPI Financial, Steve Bertamini, CEO of Al Rajhi Bank, talks about the bank’s performance in 2017 and its plans in the economic development of the Kingdom of Saudi Arabia.


National Bank of Fujairah posts net profit of Dh471.9 million

Sheikh Saleh bin Mohamed bin Hamad Al Sharqi, chairman of NBF, said: "NBF has delivered strong performance through its renewed focus on being the financial partner for business, and meeting its customers' professional and personal needs."