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12 Saudi banks to pay 17.9bn riyals to settle Zakat payments

24 December, 2018      259

Twelve listed Saudi banks reached a 17.86 billion riyal (Dh17.5bn) settlement with the kingdom’s tax authority over the payment of religious tax called Zakat. Al Rajhi Bank, Saudi Arabia’s second-largest...

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Interest In Islamic Banking ‘Growing In Afghanistan’

24 December, 2018      14

Officials from Kabul-based banks - which provide Islamic banking services - said the number of their customers who are willing to be provided Islamic banking services is growing and that...

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Qatar partners Malaysia, Turkey to conquer Islamic finance market

23 December, 2018      44

DOHA -- Qatar is planning an ambitious new initiative with Malaysia and Turkey to serve the $2 trillion global Islamic finance market from hubs in the three countries using common...

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Sharjah lists $200m sukuk on Nasdaq Dubai

21 December, 2018      36

Nasdaq Dubai has welcomed the listing of a $200 million dollar sukuk issued by the emirate of Sharjah. It is the emirate’s second sukuk listing on the exchange this year,...

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US$6.4 trillion lures Malaysia's biggest Islamic bank to go global

21 December, 2018      23

Malaysia’s biggest Islamic bank is setting up its first overseas branch to meet the demand for financing in the US$6.4 trillion global halal economy. Maybank Islamic Bhd. expects to get...

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4.4 million insurance, takaful policyholders to be reimbursed

20 December, 2018      25

PUTRAJAYA: The Finance Ministry today announced tax exemptions for all individual policyholders who had bought or renewed an insurance or general takaful policy for motor, fire or accident insurance during...

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Islamic banking profits jump 27.7% in Pakistan

19 December, 2018      17

Profits of the Islamic banking industry surged by 27.7% to Rs23bn in 3QCY18, from Rs18bn in same quarter last year, reported State Bank of Pakistan’s Islamic Banking Bulletin issued this...

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UK has broadest Islamic finance knowledge base

19 December, 2018      21

The UK comes on top of a list of Islamic finance knowledge providers, with 80 institutions providing courses on the matter in the country as per 2017. Malaysia is second...

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CIMB says online banking system not hacked

18 December, 2018      71

KUALA LUMPUR: CIMB Bank Bhd has assured its customers that its online banking portal, CIMBClicks system remains secure and all customers’ transactions continue to be protected. “The bank would like...

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Dubai Investments unit said to hire HSBC, Citigroup for sukuk

18 December, 2018      26

Dubai Investments’ property unit hired HSBC Holdings and Citigroup to sell Islamic bonds early next year as it seeks to refinance an existing sukuk, according to people with knowledge of...

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