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Huge potential for Islamic finance in Kenya |
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Kenya is fast developing as the Islamic finance hub of East Africa. The Central Bank of Kenya (CBK) has already licensed two Islamic banks - Gulf African Bank (GAB) and First Community Bank (FCB) - under CAP 488 of the Banking Act of Kenya. |
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BKME shows KD 14.3m net profit in 2009 |
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The Bank of Kuwait & the Middle East realized net profits amounting to KD 14.3 million in 2009. The profit was generated by operating income to the tune of KD 85 million. |
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Al-Rajhi to open ninety new branches |
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Al-Rajhi Bank announced on 7th February 2010 that it will be expanding its network by opening 90 new branches per the next 3 years in a bid to be in the neighborhood of all its clients. |
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Japan, IDB provide Niger with aid for food shortages |
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Japan and the Islamic Development Bank have pledged millions in dollars of aid for Niger, the first contributions after reports warned that more than half the country's population would face shortages in 2010. |
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Islamic Development Bank grants loan to STEG |
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An agreement on guarantee and another loan agreement granted by the Islamic Development Bank (IDB) to the Tunisian Electricity and Gas Company (STEG) were signed on Feb. 5th, 2010 in Tunis. |
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Dubai Islamic Bank named UAE's top distributor of Takaful products |
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In recognition of the exceptional performance of the Al Islami Takaful Savings Programme and the bank's extremely strong domestic distribution network, (DIB) announced on Feb 6th, 2010 that it has been named the "Best Takaful Distributor in the UAE" for the full year 2009, as well as for the fourth quarter of 2008. |
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KFH- Bahrain selects Sword FircoSoft’s filtering solution |
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Sword FircoSoft, the leading global provider of watchlist filtering solutions and Allied Engineering Group (AEG), their partner in the Middle-East region, are proud to announce the successful deployment of Sword FircoSoft’s best-in-class watchlist filtering solution at Kuwait Finance House. |
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Al-Yusr Islamic Banking Service Opens New Branch |
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In a statement he gave after opening a new branch the Al Yusr Islamic banking service of the International Bank of Qatar (IBQ), The Governor of Qatar Central Bank Sheikh Abdullah bin Saud Al-Thani praised the new financial results achieved by Qatari banks during fiscal year 2009, expecting the current fiscal year (2010) to be better than the previous one. |
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AFB to disburse RM1.5bil funds |
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Asian Finance Bank Bhd (AFB), the Malaysian unit of Qatar’s biggest Islamic bank, aims to disburse RM1.5bil funded assets in 2010 compared with RM1bil in 2009. |
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National Bonds flagship a year late |
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The flagship property project of National Bonds, the Sharia-compliant investment scheme, will be delivered a year late while a second creekside development has been put on hold indefinitely and will not generate any returns in the near future, it has emerged. |
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