Business Blog

Etiqa Takaful Bhd, Malaysia's largest Islamic insurance provider and a unit of Malayan Banking Bhd MBBM.KL , will issue a sukuk to raise 300 million Malaysian ringgit ($91.39 million), said credit rating agency RAM Ratings.

The National Commercial Bank (NCB) and Southern Province Cement Company (SPCC) entered into a financing agreement of Islamic Tayseer, amounting to 700 million Riyals for five years. The agreement was signed in Riyadh by His Highness Prince/ Abdullah bin Musa'ad bin Abdul Rahman Al Saud, Chairman of the Southern Province Cement Company and Mr. Mansour S. Al Maiman, Chairman of the National

Dubai will compete with London for a share of Islamic banks' liquidity management business by offering a new platform for murabaha trading.

KUALA LUMPUR, April 2 (Reuters) - Malaysia's Maxis Bhd MXSC.KL will undertake 2.5 billion ringgit ($766.5 million) in loans to refinance its debt and fund its capital needs, it said in an announcement to the stock exchange on Wednesday. Mobile...

DUBAI, April 2 (Reuters) - Kuwait&aposs Zain ZAIN.KW has secured a $250 million four-year Islamic loan from a syndicate of three Gulf banks, the telecommunications operator said on Wednesday.Zain, which operates in eight countries in the Middle East and Africa, has signed the Murabaha sharia-compliant cost-plus-profit facility with lead lender Boubyan BankBOUK.KW , plus Kuwait International Bank K

Bahrain's central bank has released a consultation paper to study possible changes to rules for sharia-compliant financing arrangements which the kingdom's Islamic banks can offer to accredited investors.