Category Archives: Bahrain

Bahrain’s Arab Banking Corporation to push Islamic finance in Europe

Bahrain’s Arab Banking Corporation to push Islamic finance in Europe

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Bahrain-based bank ABC said it will start to market Islamic financing products to European clients left hamstrung by the sustained gridlock in the credit markets.

The firm has until now only actively marketed mainstream products to clients of ABC International Bank Plc, the London-headquartered European division of Arab Banking Corporation.

"We are aiming to target the wholesale market, especially companies in Europe that are interested in seeking Islamic finance solutions, for example sukuk, leasing, and general corporate facilities," said Faisal Alshowaikh, the newly- appointed head of Islamic financial services at ABC International.

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Bahrain Islamic Bank launches household Islamic financing scheme

Bahrain Islamic Bank launches household Islamic financing scheme

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In line with their innovative offerings, Bahrain Islamic Bank (BisB), the flagship of Islamic banking in the kingdom of Bahrain, announced the introduction of their all-new household financing programme, “Ezy Buy”.

The Ezy Buy scheme has been introduced to provide customers the convenient option of purchasing their desired household items such as electronics, furniture and much more through affordable installments based on the customer’s budget.

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KPMG: Best Islamic Assurance and Advisory Services Provider

KPMG: Best Islamic Assurance and Advisory Services Provider

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KPMG firms were named Best Islamic Assurance and Advisory Services Provider for the second year in a row at the 2009 Euromoney Islamic Finance Awards ceremony in London.

Now in its seventh year, the awards are regarded by many in the sector as the benchmark awards for the global Islamic finance industry.

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Islamic fund eyes private buyouts

Islamic fund eyes private buyouts

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Global Investment House, Millennium Capital and Dubai Islamic Bank have received approval from the Central Bank of Bahrain for a US $500 million Islamic buyout fund.

The fund will provide investors access to Shariah compliant private equity investments, which the partners see as a largely untapped asset class across the region.

As seed investors, Global, DIB and Millennium Capital will be contributing 13% of the fund’s capital. Global will be the investment manager to the Fund, while Millennium Capital will act as investment advisor.

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Islamic Finance: First energy bank is born

Islamic Finance: First energy bank is born

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Central Bank of Bahrain grants license to bank devoted entirely to the energy sector.

First Energy Bank (FEB), which claims to be the world’s first investment bank focused exclusively on the energy sector, has received a wholesale banking license from Central Bank of Bahrain.

At its first shareholders meeting, held at the end of June, the bank appointed its Sharia Supervisory Board, KPMG as external auditor and its initial board of directors.

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