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Islamic Finance News: Doha meeting failure unstabilised the stock market

islamic finance news

Doha Talks between 18 oil-exporting countries including OPEC members failed to agree on a plan to curb oil output freeze, so this is the impact on market conditions and shares.

  • Dubai: Dubai’s growth Listing as the global capital of the Islamic Economy. Dubai Islamic Bank as the leading Islamic Bank in the country promotes the Emirate’s growth and success in the field of Islamic finance listed its latest Sukuk with a value of 500 million US dollars on Nasdaq Dubai. DIB ‘s total Sukuk listings on the region’s international exchange to 3.25 billion US dollars.
  • Abu Dhabi: Abu Dhabi Islamic Bank The emirate’s largest sharia-compliant bank made a net profit of 482 million dirhams ($131.2 million) 6.9 percent rise in first-quarter.
  • Saudi Arabia: Reported the second-largest lender Al Rajhi Bank 32.8 percent rise in first-quarter net profit 2.02 billion riyals ($538.7 million) in the three months to Mar. 31, up from 1.52 billion riyals in the same period a year earlier.
  • Qatar: Qatar’s second-largest bank by market value Masraf Al Rayan reported a 5.1 percent increase in first-quarter net profit 537 million riyals ($147.5 million), a company statement said.
  • Bahrain: Central Bank of Bahrain announced that the 43 BD million issue, which carries a maturity of 91 days, of the Sukuk Al-Salam Islamic securities, had been oversubscribed by 143%.
  • Kuwait: Kuwait Finance House (KFH) as the country’s biggest Islamic lender reported net profit rose to 34.1 million dinars ($113.2 million) 14 percent rise in first-quarter 2016 from 29.9 million dinars in the same period a year ago. more
  • Oman: The government of Oman arranges to issue first international bond $1 billion. it has chosen five banks Citi, JP Morgan, Mitsubishi UFJ Securities Natixis and National Bank of Abu Dhabi to arrange the bond.
  • Turkey: Muhammed Bilal Doner¬†general manager of Turkish Airlines in Jeddah¬†said: “New destinations are in the offing and the airline will very soon start operating direct flights from Jeddah, Riyadh, and Madinah to Trabzon and Ankara. the national carrier and the best airline in Europe for the fifth year is globally planning to grow its capacity by 21%.

(EBCTV)