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Islamic Finance Briefing - Categorized | Banking, Performance more

SIB on top of the numbers despite slump

Posted on 07 January 2010

From Business24-7.ae: Sharjah Islamic Bank (SIB) said it made fewer provisions in 2009 than the previous year and faced few defaulting cases but rescheduled the financing, according to its chief executive officer.

“We had a few cases and we have managed them all. We have discussed with defaulters way of solving the problem. Most of them have agreed on rescheduling their financing, whereas a few have committed to resume payments,” Mohammed Abdullah said…………………………………….Full Article: Source

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