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Islamic Finance News: Islamic banks growth accelerating – Economics & Business Channel
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Islamic Finance News: Islamic banks growth accelerating

The demands over lunching Islamic Finance is growing fastly this year, because the investors are looking for loans with zero profits or Reba ,as far as this service is only provided from the Islamic banks and with long-standing time to repay the loans.

  • Qatar: Abdulbasit Al-Shaibei Executive manager of the Qatar International Islamic Bank (QIIB) said that we are looking to boost one Sukuk before the end of April the Sukuk will support QIIB finance and improve its capital ratio.
  • Saudi Arabia: The international petrochemical company Sipchem decided to issue Islamic Sukuk after its had approved from the board.
  • Kuwait: Because of its leadership in the field of Islamic banking Kuwait Finance House (KFH) won three awards from Islamic Finance News Magazine (IFN) the best bank in Kuwait, Kuwait deal of the year, Turkey deal of the year Awards.
  • Bahrain: Gas and Oil firm Nogaholding signed to obtain Murabaha Islamic loan and this Islamic finance will support investment projects it will be 5 years financing loan 570$ million dollars, and it is the first time loan sharia-compliant for this company in the credit market.
  • Iran: For the first time Iran’s ministry of finance has issued 5 trillion rials (145$ million dollars) Sukuk Islamic bond at the free market exchange rate for 4 year ,the proceeds will be used to settle debts owed by the government.
  • Turkey: The fourth Islamic Economics Workshop will be held by the Association for Science, Culture and Education (ILKE); the Scientific Studies Association (ILEM) and the Turkish Entrepreneurship and Business Ethics Association (IGIAD) in Istanbul from April 2-3, 2016.

(EBCTV)