Finance

Al Salam Bank Starts Operations In Algeria

The event marks the launch of the bank’s high quality services in the Algerian market. Al Salam Bank has previously acquired the license of Algeria’s Money and Credit Council to operate as one of the largest banks in North Africa and to offer its banking services through its headquarters and one branch in the Algerian capital city with a paid up capital of $100m.Al Salam will provide innovative banking services and will play a leading role in the Islamic banking market though availing unique products and solutions designed by experienced specialists in the Islamic banking industry that has been in the forefront of banking businesses in the region.

BIsB Achieves 84 Percent Increase In Quarterly Profits US$85 Million Profits In Third Quarter 2008

Bahrain Islamic Bank (BIsB) issued a press release on Tuesday announcing its financial results for the third quarter of this year during which its net profits totaled US$85 million, an increase of 84 percent over its US$46 million net profits during the same period of last year.

AlBaraka Islamic Bank Holds Its Annual Staff Ramadan Gabgah

AlBaraka Islamic Bank B.S.C (c) (Bahrain) held its annual Ramadan gabgah for its employees which were also attended by the staff of Albaraka Banking Group.

Gulf Central Banks Step In To Save Markets From Collapse

After four days of decline in October, Gulf central banks stepped in to save the local bourses after another day of sharp falls which have seen shares in the UAE alone lose Dhs141bn. Central Bank of the UAE announced that H.E. Sultan Bin Nasser Al Suwaidi travelled to Washington DC and attended the IMF/WB Annual Meetings.

Al Salam Bank Sudan Wins “Global Finance Award’’ As Best Bank In Sudan

Alsalam Bank Sudan wins ‘’Best bank in Sudan’’ award for 2008 by Global Finance magazine, the American publication, considered as one of the key publications in finance internationally.