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Battle for the Islamic investor |
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Major global index providers rushed to satisfy a burgeoning interest in sharia-compliant investing. Now the challenge is to expand coverage and develop new products if the market is to reach its true potential. |
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Al Baraka Egypt Bk Plans To Hike Cap To EGP1B In 5 Yrs |
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Al Baraka Egypt Bank, a unit of Bahrain's Al Baraka Banking Group, plans to gradually hike its capital to 1 billion Egyptian pounds ($175.2 million) over the next five years, Saudi-based Al Riyadh daily reports on 2,September,2010, citing an executive. |
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Ashurst advises ADIB & Al Hilal Bank |
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Ashurst advised the Islamic Term Arrangers, Abu Dhabi Islamic Bank and Al Hilal Bank, in connection with Emirates Steel's US$ 1.1 seven year financing for the Emirates Steel Industries expansion project. The financing comprised a US$733 million limited-recourse facility from seven conventional banks and a US$367 million ijara (lease) facility from the two Islamic arrangers. |
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Kuwait Finance House Launches KFH Personal Financing-i Hajj and Umrah |
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Kuwait Finance House (Malaysia) Berhad (KFHMB), the first foreign Islamic bank in the country, has launched the KFH Personal Financing-i Hajj and Umrah on 2, September, 2010. The unique product has been designed for Muslim customers to facilitate their pilgrimages to the holy cities of Makkah and Madinah. |
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GS Ups Dubai Islamic Bank To Neutral Vs Sell Rating |
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Goldman Sachs ups Dubai Islamic Bank to neutral, from sell rating previously. Increases its price target to AED2.36 versus AED2.10. Says upgrading DIB following substantial underperformance vs. the MSCI EM EMEA. Shares closed flat at AED1.86 on 1, September, 2010. |
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European Finance House undergoes rebranding campaign to become QIB UK |
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Qatar Islamic Bank's (QIB) subsidiary, European Finance House (EFH) has recently rebranded as QIB UK in order to reinforce its positioning within QIB's expanding global network. The change was instituted at the beginning of August and acts to unify the brand in order to keep consistency across local and international markets. |
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Iftar and Suhoor events |
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HSBC Amanah, the Islamic finance operation of HSBC, organised Iftar meals for more than 3,500 people in eight countries, including Qatar, across three continents. Recipients included orphans, labourers, the homeless and other deserving people. |
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