www.gulf-daily-news.com - MANAMA: Bahraini Islamic bank Al Baraka Banking Group aims for 15-per cent growth in net profit this year and plans to buy a 75pc stake in an unlisted Indonesian bank as part of its global expansion plan.
"We are in talks with Chinese shareholders of an Indonesian bank and hope to buy close to 75pc stake this year," Adnan Ahmed Yousif, Al Baraka's chief executive, said. (source)
Showing posts with label gulf daily news. Show all posts
Showing posts with label gulf daily news. Show all posts
Monday, March 05, 2012
Friday, February 24, 2012
INDONESIA - BANKING - ABG net income surges 10 per cent to $
www.gulf-daily-news.com - MANAMA: Al Baraka Banking Group (ABG) managed to weather the storm of both international and regional turmoil to move ahead last year.
And the Bahrain-based Islamic bank is now looking to expand its operations into Indonesia, China and India as part of its medium-term strategy to enter into large and promising markets where it can offer innovative services and products.
Yesterday it announced that it achieved a net income of $212 million last year, an increase of 10 per cent on the income achieved in 2010. (source)
And the Bahrain-based Islamic bank is now looking to expand its operations into Indonesia, China and India as part of its medium-term strategy to enter into large and promising markets where it can offer innovative services and products.
Yesterday it announced that it achieved a net income of $212 million last year, an increase of 10 per cent on the income achieved in 2010. (source)
Saturday, June 11, 2011
GENERAL - Islamic finance industry growing at 20 percent
MANAMA: Islamic finance is growing at an average annual rate of 20 per cent and is one of the fastest growing sections of the finance industry. That was the claim by World Islamic Banking Conference managing director David McLean at the opening of the two-day Second Annual World Islamic Banking Conference: Asia Summit (WIBC Asia 2011) in Singapore yesterday.
"Today there are more than 600 financial institutions operating in more than 75 countries," he said.
"The increasing presence of Islamic financial institutions in new jurisdictions and the increased international interest in Islamic financial markets represents a tremendous opportunity for cross-border flows that are Sharia-compliant. (source)
Monday, September 20, 2010
REGULATORY - AAOIFI names new Sharia panel member
  MANAMA: The Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) has appointed Dr Abdul Sattar Al Khuwaildi a member to its Sharia committee. |
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