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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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Source: Management & Business for Africa
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If Islamic finance is ever to be anything more than a poor relation of the conventional credit markets, those responsible for guiding the sector need to learn to adapt. The indecision and disputes that can delay deals at the moment will only get worse as issuers look to push into more innovative areas. Scholars that stand in the way of progress may well find themselves sidelined.
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Manama, Bahrain: ABC Islamic Bank today announced a net profit of $8.1 million for 2011, 293% higher than last year. Total operating income was US$15.1 million compared to US$15.9 million for 2010, mainly due to de-risking of balance sheet asset size. Operating expenses of US$6.2 million were higher than the previous year of US$4.9 million, mainly due to a timing recognition of staff expenses related to compensation for last year. Impairment provision of US$0.5 million for regional exposure was taken during the year compared to US$8.6 million for the previous year. Net profit for the fourth quarter was $1.4 million compared to $1.6 million in the third quarter.
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JCR-VIS assigns local currency ratings on a national scale. Local currency rating on a national scale assumes the national government to be least risky, which is therefore implicitly assigned a 'کAAA' rating. These ratings represent an entity's ability to meet its domestic obligations in the local currency.
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Bahrain-headquartered Arab Banking Corporation's Islamic banking subsidiary ABC Islamic Bank has today reported a net profit of $8.1m for 2011, 293% higher than last year's $2.06m. Net profit for the fourth quarter fell to $1.4m from $1.6m in Q3, however.