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Islamic Finance Briefing - Categorized | Banking, Performance more

Ajman Bank’s loss widens - Islamic bank’s losses increase almost 20pct in Q1.

Posted on 11 May 2010

From Business24-7.ae: The losses of Ajman Bank, the newest Islamic bank in the country, increased nearly 20 per cent in the first quarter of 2010 to Dh13.92 million against Dh11.62m losses for the corresponding period last year.
According to the bank’s financials, the bank has distributed Dh3.824m to its depositors as their share of profit. Though the bank made a net income before expenditure of Dh20.94m for the first quarter ending March 31, 2010, staff costs alone were more than that at Dh22.74m, which was about Dh7m more than the figures in the same period last year……………………………………….Full Article: Source

 
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