Banks-islamic RSS feed for the Banks-islamic tag
found 9 stories.
Business
Marc Reeves BusinessDesk 22 Sep 10
Birmingham-based Islamic Bank of Britain has reported half-year losses of £4.3m despite a £20m bailout earlier this year.
In June, the bank placed £20m of new shares with Qatar International Islamic Bank after being caught by the economic downturn, which has seen yields in Islamic inter-bank markets reach historic lows. The same conditions continued to bear down on the bank, said chairman Mohsen Moustafa, reporting a reduction in net income from Islamic financing transactions of £0.5m…
Business
Asian News 18 Aug 10
Shareholders of Islamic Bank of Britain approved a £20million capital injection from founding shareholder Qatar International Islamic Bank.
The additional capital will allow IBB to realise product development plans including the growth of its Islamic mortgage alternative, the Home Purchase Plan. IBB immediately released details of two new products to be launched as a result of the capital injection…
Business
Asian News 28 Jul 10
Islamic Bank of Britain has secured a £20million capital injection from founding shareholder Qatar International Islamic Bank which will take QIIB’s stake in the bank to over 80 per cent.
The investment, which is subject to shareholder and regulatory approvals, will allow IBB to leverage its established retail brand in the Islamic finance sector to increase sales of key products, including the recently launched Islamic alternative to mortgages, the IBB Home Purchase Plan…
Business
BusinessDesk 26 Apr 10
Professionals are being urged to get up to speed and undertake additional training in order to take advantage of the growing Islamic finance market. Lobby group Business Voice WM is spearheading moves to bring the issue to the attention of the region’s professionals and get them involved.
Islamic finance forbids the charging of interest or usury and so practitioners adopt other forms of agreements usually based around profit sharing…
Business
Deputy Editor Business Desk 26 Mar 10
The Islamic Bank of Britain has warned it may have to cut back on growth plans if it does not raise the capital needed to develop its strategy. The Birmingham-based bank, which has announced annual losses of £9.5m, said it was in talks about raising additional funds but if these failed to materialise then the cutbacks may have to be implemented…
Business news
Asian News 14 Dec 09
From next year students at Salford University will learn how to invest and lend according to strict financial principles on a new degree course in Islamic banking…
Business
Tom Scotney B'ham Post 29 Sep 09
The Islamic Bank of Britain slipped further into the red as the Birmingham-based organisation lost out on the international money markets…
Business
B'ham Post 10 Jun 09
The Birmingham-based Islamic Bank of Britain has launched a premium banking service after seeing a strong demand from high net worth savers looking for sharia-compliant accounts…
Business
B'ham Post 2 Apr 09
Saving and investing in line with religious principles is important for many Muslims and an increasing range of financial products is now available to meet Sharia rules…