banking | Blog - WealthCity

H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum opens 12th edition of Careers UAE

Mar

2012

Careers UAE 2012 was inaugurated this by H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, with a strong number of visitors expected to attend this year’s event. The leading recruitment, training and education exhibition with exclusive focus on Emirati talent, Careers UAE 2012 will run until Wednesday, 7 March at ...

Frontier Stocks Lose in Best Rally Since ’91 as Growth Slows

Feb

2012

The best start to a year for stocks in two decades is leaving the smallest markets behind, a sign of reduced investor confidence in the least-developed economies. All eight of the world’s worst-performing equity indexes this year are in frontier countries, where the average stock- market value of $30 billion is about 95 percent less ...

Bahrain banks ‘on solid economic fundamentals’

Feb

2012

Solid fundamentals will support a resumption of strong long-term economic growth and secure Bahrain’s long-term future as a wealth management centre of excellence, said a top government official. ‘Bahrain remains committed to ensuring that the same core business fundamentals remain in place,’ remarked Economic Development Board (EDB) chief executive Shaikh Mohammed bin Essa Al Khalifa ...

Islamic banking set to triumph

Feb

2012

Adnan Ahmed Yusuf, Chief Executive Officer of Al Baraka Banking Group and Chairman of the Union of Arab Banks, said that the Islamic banking in the Sultanate will spread and will achieve more than 20 per cent of the domestic banking during the next five years. Adnan Yusuf revealed in an interview with Oman Economic ...

Nigeria: First Islamic Bank Begins Business in Three Branches

Feb

2012

Nigeria’s first licenced Islamic bank, Jaiz Bank Plc, has commenced full operation of non-interest commercial banking in Nigeria from three branches in Abuja, Kaduna and Kano. A staff of the bank in Abuja Office said most of the early customers were groups of business institutions and private individuals from different religious persuasions making enquiries as ...

QNB Group moves up 77 places to 114th place amongst the world’s top 500 banking brands

Feb

2012

The Banker’s Top 500 Banking Brands report was published on 1 February 2012 and featured a number of leading banks and financial institutions from the Middle East and North Africa, most notably QNB Group which rose to the status of the region’s most valued banking brand. The survey is conducted every year by The Banker ...

Islamic banking draft moots five-member Sharia board

Feb

2012

MUSCAT: A five-member Sharia board, exclusive branches for window operation, clear cut segregation of conventional and Islamic banking with separate teams of people and accounts and a 12 per cent capital adequacy ratio are the main highlights of the Islamic Banking Draft Framework (IBRF) presented by the Central Bank of Oman before chief executives of ...

Public Bank Bhd posts 3.6% increase in net profit

Jan

2012

PETALING JAYA: Public Bank Bhd posted a 3.6% year-on-year increase in net profit to RM877mil for its fourth quarter ended Dec 31, 2011, and cited the improved performance as mainly due to higher net interest and net income from its Islamic banking business. However, the bank told Bursa Malaysia that that this was partially ...

Kingdom gaining more clout in Islamic finance

Jan

2012

As Islamic finance/banking industry is growing at a sky rocketing growth rate of 12 percent – 15 percent per annum, Kuala Lumpur, Dubai, Bahrain and London are chomping at the bit to become the center of the industry, which currently boasts some $1 trillion in assets. For the moment, Dubai holds the title of Islamic ...

South Africa all set to introduce Islamic Bonds

Jan

2012

Johannesburg: Plans by South Africa’s National Treasury to introduce Islamic bonds are gaining a strong support in the African country, amid expectations the move would help boost the state’s economy. “I am sure this was at the request of those Middle Eastern countries because SA has a small Muslim population,” Kokkie Kooyman, head of Sanlam ...

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