King & Spalding Advises Jadwa Investment in Beverage Company Stake

King & Spalding, a leading international law firm, advised Riyadh-based Jadwa Investment Company in the acquisition of a significant equity stake in Gulf Union Foods Company (GUFC), one of the largest producers of juices and beverages in Saudi Arabia. GUFC manufactures juices, nectars and flavored drinks, with its products sold in more than 20 countries across different regions, including the MENA... Read More

ICD Joins With Capitas to Form Management Company for Islamic Finance

The Islamic Corporation for the Development of the Private Sector (ICD) has entered into a joint venture agreement with Capitas Group, LLC, a US financial services firm specialising in developing and managing Shari'ah-compliant finance companies, to form a management company dedicated to the global development of the Shari'ah-compliant finance industry... Read More

Legal & General Gulf Takaful Launches in Bahrain

Legal & General Gulf Takaful B.S.C (c), a wholly owned subsidiary of Legal & General Gulf B.S.C (c), a joint venture between UK-based Legal & General Group Plc and Ahli United Bank Group (AUB), announced the launch of its retail business in Bahrain.... Read More

Global Launch of Cutting-Edge Shipping Technology to take place at SITL Dubai 2009

Dubai, 19 October 2009: Trailer and self propelled vehicle manufacturer leader, Gaussin Manugistique, plans to hold a global launch of an innovative new Automotive Terminal Trailer (ATT) during SITL Dubai 2009, 3-5 November 2009, taking place in Dubai International Convention & Exhibition Center.... Read More

Path Solutions Wins Key Banking Account in Sudan as BOK Selects iMAL

Path Solutions, the worldwide provider of Islamic banking software, and Bank of Khartoum (BOK), one of the largest banks in Sudan, announced that BOK has selected iMAL Islamic banking solution to support its retail, commercial, treasury and investment banking activities in Sudan.... Read More

Dubai Islamic Bank Wins Prestigious Asset Triple A Islamic Finance Awards 2009

Dubai Islamic Bank (DIB) has won two accolades at the annual Asset Triple A Islamic Finance Awards 2009. DIB was recognised for the "Most Innovative Islamic Finance Deal" for Aldar Properties Dhs 3.75 billion, fiveyear sukuk al-ijarah as bookrunner and for "Most Innovative Islamic Finance Deal" as joint bookrunner for DEWA's Dhs 3.2 billion sukuk... Read More

MINT TECHNOLOGY SIGNS CONTRACT WITH UM FINANCIAL GROUP TO LAUNCH PREPAID CARD TO THE MUSLIM COMMUNITY IN CANADA

Mint Technology Corp. announced that the company has signed a contract with UM Financial Group, Canada's premier Islamic financial institution, to provide UM Financial Group branded prepaid cards targeted at Canada's Muslim population. Potential customers will apply for the cards online and at community events.... Read More

BATELCO AND BAHRAIN ISLAMIC BANK ANNOUNCE MAJOR DEAL

Batelco, Bahrains leading integrated communications provider and Bahrain Islamic Bank (BisB), the first Islamic Bank in Bahrain, have announced a major deal that will see Batelco replace the banks network with a state-of-the-art MPLS (Multi Protocol Label Switching) network infrastructure.... Read More

PATH SOLUTIONS SUCCESSFULLY IMPLEMENTS IMAL AT ELAF BANK

Path Solutions, the world's leading provider of software solutions to the Islamic banking industry, has announced that Elaf Bank had successfully deployed the iMAL solution. Elaf has become the 10th bank in Bahrain whose technology is powered by iMAL, the only AAOIFI-certified enterprise banking solution from Path.... Read More

SALAMA JOINS WITH CRDIT AGRICOLE ASSET MANAGEMENT GROUP TO OFFER ISLAMIC FUNDS

SALAMA, the world's largest takaful and retakaful group, has teamed with Crdit Agricole Asset Management Group (CAAM Group), ranked the world's 11th asset manager, to offer the best expertise of the CAAM Group in Shari'ah-compliant investment management through three Islamic funds: a BRIC (Brazil, Russia, India, China) quantitative fund, an active Asian equities ex-Japan and a global equity fund of Islamic funds. ... Read More

EMIRATES ISLAMIC BANK OPENS ANOTHER BRANCH IN AL AIN

Firmly on track with its strategy to expand in key locations throughout the UAE, Emirates Islamic Bank, the leading Islamic financial institution in the region, has opened another new branch at a prime location in Al Ain. ... Read More

DUBAI ISLAMIC BANK OFFERS UP TO 90% HOME FINANCE

Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, announced that it is offering up to 90% financing for properties across the UAE. Property buyers can avail of Al Islami Home Finance for up to 25 years for ready and underconstruction properties from approved developers. This financing is available to UAE nationals and expatriate residents. In addition, DIB is offering refinancing solutions for properties that are already completed.... Read More