• Turkey to overcome secular qualms with Islamic bond
• Egypt to sell short-term dollar debt in March
• Al Rajhi Bank records strong performance
• Mega Islamic bank may be launched in 2012
• Bank Islam may assume BIMB listing status
• Syria's banks face struggle to survive as turmoil spreads
• Seera Investment Bank net income hits $73mln
• Warba Bank exceeds standard Kuwaitization level
• Kuwait's Burgan buys stake in Turkish bank
• Legal limbo stymies banks' recovery of Dubai govt debt
• Dubai raises $675 mln financing for Al Sufouh tram project
• Islamic financial market fast expanding

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Turkey's government plans its first-ever issue of Islamic bonds this year, overcoming sensitivities about Islamic finance in the secular republic as it seeks to tap a rich pool of investors flush with oil money. (more...)

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Egypt plans to offer US-dollar certificates of deposit (CD) to Egyptians living abroad at the beginning of March to help it raise foreign currency, al-Borsa newspaper on Tuesday quoted Finance Minister Mumtaz al-Saeed as saying. (more...)

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Al Rajhi Bank, the world's largest Islamic banking group, has achieved highest net profit among Saudi banks. As of December 31 2011, the bank posted a net profit of 7,378 million riyals (RM5.95 billion), an increase of nine per cent from last year.  (more...)

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A long-awaited mega Islamic bank to be headquartered in Bahrain may be launched this year and $600 million of its $one billion capital will be contributed by Islamic banks in the Arab region, a senior banker has said. (more...)

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Bank Islam Malaysia Bhd, the country’s oldest Islamic lender, may assume the listing status of its parent company BIMB Holdings Bhd, sources said. BIMB owns 51 per cent of Bank Islam, from which it derives the bulk of its earnings. “BIMB have been discussing the pros and cons of such a move. They may want to simplify the BIMB group structure,” one of the sources told Business Times. (more...)

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Net profit at Chambank, one of three private Islamic banks in Syria and 32 percent owned by Commercial Bank of Kuwait, soared 553 percent last year, standing out among a string of strong earnings reports from the banking sector. (more...)

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Bahrain-based Seera Investment Bank has reported a net income before provisions of $73.4 million, thanks to the bank's recent exit from one of its major investments last year. (more...)

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Kuwaitization at Warba Bank had crossed 62% in a very short span of time, said Anas Yousef Al Ateeqi, Chief Human Resources Officer at Warba Bank. Such percentage exceeds the level endorsed by the Central Bank, explained Al Ateeqi, which reflects Warba's commitment to introduce local expertise and talents into the bank's different segments.  (more...)

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Kuwait's Burgan Bank has reached a deal to buy a 70 percent stake in Turkey's Eurobank Tekfen, a partnership of Greece's EFG Eurobank and Turkey's Tekfen Holding, sources with knowledge of the deal said. (more...)

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More than two years after the Dubai debt crisis erupted, the restructuring of corporate debts remains in legal limbo as it is unclear how banks can get back their money from government-linked enterprises in the Gulf state. (more...)

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Dubai’s Department of Finance raised $675 million from a dual-currency financing to complete phase 1 of the Al-Sufouh Tram project in the emirate. (more...)

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Despite a challenging market environment, Islamic finance made progress in 2011, supported by vigorous underlying trends. The industry saw growth in terms of volume, geographic reach and quality increase due to strong demographic growth and rise in the size of Islamic financial market, Bank Sarasin’s 2012 Islamic Wealth Management Report said. (more...)

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The Bahamas' Pioneering Legal Groundwork for Digital Assets Industry Roundtable & Interactive Webinar with Christina R. Rolle, Executive Director, Securities Commission of The Bahamas In a previous Opalesque Roundtable we examined how "tiny" Bahamas was able to beat global giants in the Central Bank Digital Currencies (CBDC) race when in 2019 it launched its "sand dollar" - a digital version of the Bahamas Dollar and controlled by the central bank - effectively beating China's "digital renminbi" by six months. Pric

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