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Trade was the largest so far from the Dubai property developer
Turkish oil and gas firm offers a pickup to its parent and most other CEEMEA sukuk
Where the company's deal prices relative to its parent will be the topic of investor roadshows
Benin showed Islamic issuance is a viable market for sub-Saharan African sovereigns
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Interview of Prof Laurent Marliere, CEO of ISFIN.
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Manama, Bahrain: ABC Islamic Bank today announced that its net profit for the third quarter was US$2.8 million, 75% higher than third quarter 2011 of US$1.6 million, and 15% higher than second quarter of 2012 of US$2.4 million. Total operating income amounted to US$4.3 million compared to US$ 4 million for the second quarter of 2012. Operating expenses were kept nearly flat at $1.4 million. Net profit for the first nine months of 2012 was US$6.8 million compared to US$6.7 million for the same period in 2011.
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ABC Islamic Bank has reported a $2.8m net profit in its third quarter, a 75% increase on the $1.6m it earned in the same period last year. The result was also 15% better than its 2012 second quarter $2.4bn net profit and brings the first nine months total to $6.8m. This is up from $6.7m in the first nine months of 2011.
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Sharjah-based Dana Gas looks set to begin a protracted restructuring of its debt with creditors from next week, with the oil and gas explorer and producer having yet to find a solution to its looming sukuk maturity.
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The government of Oman is looking to amend its tax rules to facilitate Islamic finance. It has asked KPMG to advise it on the move, which it hopes will help Islamic financial institutions compete on level terms against their conventional peers.
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Karachi, October 23, 2012: JCR-VIS Credit Rating Company Limited (JCR-VIS) has assigned final rating of ‘AA’ (Double A) to the Participatory Term Certificates (PTC) of Treet Corporation Limited (TCL) after examination of the signed legal documents. Outlook on the rating is ‘Stable’.