Category: Islamic Finance
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Turkey to play leading role in Islamic finance
Ankara : Turkey plays a leading role in Islamic finance, said group chairman and chief executive officer of Path Solutions, an Islamic banking software provider. “I believe that Turkey has a role to play as a leader in Islamic finance and as a hub because it is one of the top three Islamic finance markets…
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IDB total financing reached $9.8 billion in 2017
Tunis : President of the Islamic Development Bank (IDB) Group Dr. Bandar Hajjar said on Monday the IDB’s total funding for development projects in the member states of the Organization of Islamic Cooperation (OIC) reached $9.8 billion during 2017. Hajjar made the remarks at a press conference, during which he launched the IDB’s 2017 Annual…
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Islamic Development Bank gears up for Tunisia summit
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By Gokhan Ergocun and Bahattin Gonultas, ANKARA: Business leaders from Muslim nations will gather in the Tunisian capital on Sunday to review last year’s performance by the Islamic Development Bank (IDB), and discuss and approve its development agenda for the year ahead. Representatives of 57 member states, senior government officials and ministers of finance, economy, planning…
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Dubai stock market hits two-year low following US tariff campaigns
Dubai : The Dubai Financial Market General Index (DFMGI) closed at 3,115.16 on Sunday, the lowest point since the end of February, 2016. Shares of Dubai’s bellwether Emaar Properties, the developer of the world’s tallest building Burj Khalifa, dived by 2.72 per cent, while regional logistics giant Aramex lost 3.70 per cent. Selling pressure piled…
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Dubai Islamic Bank to cash dividends after posting strong returns
Dubai : Following the conclusion of its Annual General Meeting (AGM), Dubai Islamic Bank (DIB) announced recently that the meeting approved the distribution of 45 fills per share as cash dividend for 2017, closing another year with strong returns to shareholders since the bank embarked on a growth agenda four years ago. The general assembly…
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Jan Seva Applauded at International Stage
Awarded Gold Medal as Recognition of its Cooperative Banking Services Mumbai: “Jan Seva Cooperative Credit Society is the only interest-free monetary institution in the country. With a sum of just Rs 191,000, it began its journey and within seven years its revenue touched the mark of Rs 224 crore in 2016. With zero income at…