Meezan Bank to provide financing for `Dell’ laptop computers

Meezan Bank to provide financing for `Dell' laptop computers
KARACHI: Meezan Bank, Pakistan’s first and largest Islamic bank, has joined hands with M/s. Unique Technologies for financing of `Dell’ brand of laptop computers. A statement here on Monday said that this will be through Meezan Bank’s Laptop financing product- Laptop Ease. It said that in this regard an MOU was signed by Arif ul ...

Islamic bond may be linked to third bridge

Islamic bond may be linked to third bridge
Turkey may issue its first sukuk, an Islamic finance tool, to be linked to the toll revenues of a planned bridge over the Bosphorus, daily Vatan claimed without quoting sources. The Treasury has already started a study on the issue, the newspaper said. The paper said Deputy Prime Minister Ali Babacan’s Jan. 30 speech at ...

Islamic banks profitability up 58% in Q1FY12

Islamic banks profitability up 58% in Q1FY12
KARACHI: The profit of Islamic banking industry (IBI) reached Rs 8 billion by end of the first quarter of 2011-12, showing growth of over 58 percent, as earning’s growth rate of conventional banks having Islamic banking branches is significantly higher than the growth rate of full-fledged Islamic banks. The study ‘Islamic Banking Bulletin July-September 2011’ ...

Laws ‘key to Makkah, Madinah real estate growth’

Laws 'key to Makkah, Madinah real estate growth'
New regulatory, immigration, business and finance legislations are crucial for the real estate sector in Makkah and Madinah to achieve its true potential, according to Alpha1Estates International, a leading Islamic real estate advisory firm. Alpha1Estates International, which was set up in 2006, became the first company to market Saudi Arabian property globally and also the ...

MMU To Explore Islamic Banking In Kashmir

MMU To Explore Islamic Banking In Kashmir
Srinagar, Dec 27: Islamic scholars and clerics of Jammu and Kashmir Tuesday decided to organize a united and collective response to the problems facing the community in the Muslim majority state. Decision to the effect was taken at an extraordinary meeting of the newly formed Muttahida Majlis-e-Ulema (United Council of Scholars) presided over by Mirwaiz ...

Qatar Islamic Bank to buy IBQ’s Islamic assets

Qatar Islamic Bank to buy IBQ's Islamic assets
Dec 28 (Reuters) – Qatar Islamic Bank will acquire the sharia-compliant corporate portfolio of International Bank of Qatar(IBQ), the Islamic lender said on Wednesday. The agreement will see IBQ’s Islamic corporate financing facilities and its deposit accounts transferred to Qatar’s largest sharia-compliant bank by assets, according to a statement. No value for the acquisition was ...

Bank Islam eyes M&As in Indonesia and Bangladesh

Bank Islam eyes M&As in Indonesia and Bangladesh
KUALA LUMPUR: Bank Islam Malaysia Bhd is eyeing opportunities for expansion in Indonesia and Bangladesh, which have sizeable Muslim populations and adequate Islamic banking regulatory policy and supporting infrastructure for syariah-based financing and banking operations. Managing director Datuk Seri Zukri Samat said as mergers and acquisitions (M&As) were on Bank Islam’s agenda for growth, the ...

VTB to introduce Islamic banking in Russia

VTB to introduce Islamic banking in Russia
Baku, Fineko/abc.az. Development of Islamic financing in the CIS member countries will be carried out through two key banks. At the closing ceremony of the IV Baku International Banking Conference Andrey Kazakov, chairman of the Coordination Council of the CIS Financial & Banking Council (FBC), has stated that they will seek to establish Islamic banks ...

Int’l Bank of Azerbaijan ready to apply to Central Bank for permission to start Islamic banking operations

Int’l Bank of Azerbaijan ready to apply to Central Bank for permission to start Islamic banking operations
Baku, Fineko/abc.az. The consultants drawn by the International Bank of Azerbaijan for Islamic banking development are completing their work. IBA Islamic banking group’s head Behnam Gurbanzadeh says that the consultants are finalizing a report on the work. “Immediately after receiving the report it will be submitted to the IBA Board to apply then to the ...

Qatari market over-banked, says HSBC MD

Qatari market over-banked, says HSBC MD
Doha: Although Qatar market looks very attractive it’s very difficult to penetrate, says a top banker. “Business from London to Hong Kong works the same way, but not here. In Qatar it takes a longer time to build relations and you need to be very patient, things move slower here,” said Jody Sanderson, HSBC Managing ...