middle east | Blog - WealthCity

Cambodia Muslims dream of Islamic finance

Mar

2012

SHAFAQNA (Shia International News Association) Aspiring to a better standard of living, Cambodia’s Muslims are dreaming of introducing the Islamic finance to the Buddhist country to lure investments from the Muslims-majority states in the Middle East and Asia. “Most investors in the Middle East are certainly looking for Islamic-compliant business in countries that aren’t ...

Islamic banks ‘need mergers to fill in West gap’

Feb

2012

Small and medium-sized Islamic banks may need to merge if they want to become bigger regional players capable of filling the funding hole left by shrinking Western banks, the head of Islamic finance at Deutsche Bank, told Reuters. ‘There are mismatch challenges,’ Salah Jaidah said on the sidelines of the Euromoney Islamic finance summit in ...

BLME Signs Islamic Banking Deal With Global Marine for Wind

Feb

2012

Bank of London and The Middle East Plc, the London-based Islamic bank, signed a 14 million-pound ($22 million) deal to help Global Marine Systems Ltd. buy a vessel to install subsea power cables at offshore wind farms. The leasing transaction with the Essex, England-based marine technology and engineering company is the Shariah- compliant bank’s first ...

HSBC Amanah set to tap huge opportunities in the Middle Eas

Dec

2011

Dubai: HSBC Amanah provides a full range of Islamic financial services to the retail, corporate and institutional customers in the Middle East, Asia and the UK. It has a team of dedicated Islamic banking professionals in most major financial centres such as New York, London, Riyadh, Dubai, Hong Kong, Malaysia and Singapore. With the size ...

$210bn Islamic finance industry comes to Oman

Jun

2011

The Islamic finance industry is currently valued at $1 trillion worldwide, of which $210 billion is invested in the Middle East.

Islamic finance past $1trn mark (Continues to strengthen and gain global acceptance)

Apr

2011

Despite the global economic slowdown, the Islamic financial industry has crossed its $1 trillion mark, according to the industry leaders who gathered at the Middle East Islamic Finance and Investment Conference in Dubai. With an increasing appetite for Shari’ah-compliant alternatives in the areas of banking and finance among the investment community, corporate end users, consumers ...

Islamic finance ‘is registering growth’

Apr

2011

DUBAI: With an increasing appetite for Sharia-compliant alternatives in the areas of banking and finance among the investment community, corporate end users, consumers and intermediaries, Islamic finance in the Middle East has witnessed exponential growth in the past few years. Despite the global economic slowdown, the Islamic financial industry has crossed its $1 trillion mark ...

Islamic finance industry ‘crucial growth engine’

Feb

2011

MANAMA: Islamic finance has significantly surpassed its niche industry status to become an established component of the financial system. The fact that over recent years Islamic financial institutions have grown at a faster pace than their conventional peers confirms the increasing demand for Sharia-compliant financial products and services. With the unprecedented growth of major economies ...

Deloitte eyes ‘significant opportunities’ in Islamic finance

Nov

2010

Deloitte & Touche is targeting the Islamic finance sector for future growth as it provides a significant opportunity, the company’s Middle East chairman and CEO said. Globally Islamic financial institutions hold $960bn in assets, of which 60 percent are concentrated in the GCC, Omar Fahoum said. “Islamic finance is here to stay. This is not ...

HSBC Amanah’s Deputy CEO Says to Offer Islamic Finance in India, China 1

Nov

2010

HSBC Holdings Plc, the largest bank in Europe, plans to offer Shariah-compliant services in India and China to tap economic growth after the countries issue regulations to develop their Islamic financial markets. HSBC Amanah also plans to expand in Egypt and Oman, said Razi Fakih, the deputy chief executive officer of the bank’s Islamic unit. ...

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