Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait - Bid to promote mutual Islamic banking opportunities   Join our daily free Newsletter

MENAFN - Arab Times - 27/03/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab Times) Kuwait Finance House Bahrain and Meethaq Islamic Banking Group, the Islamic window of Bank Muscat, signed a Memorandum of Understanding that aims to support joint business opportunities in the Islamic Banking sector. This relates to areas of treasury transactions, trade finance and capital markets (sukuk and syndications in the Sultanate of Oman). In terms of interbank relationship, the MoU particularly addresses "WASI", an overnight liquidity management product launched by KFH-Bahrain. The MoU was signed by Abdulhakeem Alkhayyat, the Managing Director & CEO of KFH-Bahrain and Sulaiman Al Harthy, the Group General Manager Meethaq Islamic Banking Group. On this occasion, Abdulhakeem Alkhayyat and Sulaiman Al Harthy expressed their delight on signing this memorandum, which is considered a culmination of the mutual desire of the two entities to work together and consider the prospects of joint business in various fields of Islamic banking to develop new opportunities



Abdulhakeem Alkhayyat commented "We are happy to add Meethaq Islamic Banking to our growing list of partners who work with us to offer distinctive services and products". Sulaiman Al Harthy noted that "The Sultanate of Oman is expected to witness a substantial growth in the Islamic banking industry within the coming years. We consider our partnership with KFH-Bahrain a great advantages to maximize mutual favorable opportunities that lie ahead and expand our coverage. In addition to that, it will support the position of Meethaq Group in the Islamic banking industry." Alkhayyat added "KFH-Bahrain is always pleased to collaborate with Islamic financial institutions as a key facilitator for the development and growth of the industry to meet future requirements.



Sulaiman Al Harthy commented "We are pleased to sign this MoU with KFH-Bahrain, which is considered to be one of the most reputable Islamic financial institutions. We will work with KFH-Bahrain to offer various Islamic finance products including treasury transactions, trade finance and capital markets business in the Sultanate of Oman, with sukuk and syndications in particular." "Oman has a growing Islamic banking industry with sound regulations, laws and transparency. Meethaq Group is working to strengthen its presence in the Sultanate of Oman by expanding its branches across the Sultanate and offering various banking products and services that comply with Islamic law." Bank Muscat/Meethaq Islamic Banking Group is the first financial institution in the Sultanate to receive a license from the Central Bank of Oman (CBO) and the first to introduce Shari'a compliant products to the public. Beginning of fully-fledge Islamic banking operations in January 2013, Meethaq Group is the pioneer of Islamic banking in Oman




 


Arab Times




  MENA News Headlines
 May 28 2015 - 'Etihad Airways to add $6.2bn to US economy by 2020'Gulf Times
(MENAFN - Gulf Times) The Etihad Airways headquarters in the Emirati capital Abu Dhabi (file). Etihad Airways' contribution to the US economy will almost double to $6.2bn by 2020, it said yesterday, ...

 May 28 2015 - Qatar's Ooredoo eyes 'digital shift' gainsGulf Times
(MENAFN - Gulf Times) Ooredoo, whose brand equity is now valued at $1.7bn (QR6.19bn), is aiming to capture a sizeable share in the global converging communications market as a shift to a digital ...

 May 28 2015 - Vienna Opec seen backing Saudi plan to keep oil supplies elevatedGulf Times
(MENAFN - Gulf Times) When Saudi Arabia argues next week that Opec should keep up production to fight the rise in US shale oil, prices will be on its side.Crude plunged for eight of nine weeks prior ...

 May 28 2015 - Gulf markets weak as oil prices fail to recoverGulf Times
(MENAFN - Gulf Times) Gulf stock markets were weak yesterday as oil prices failed to recover from Tuesday's drop. Saudi Arabia's index fell 0.5% with most blue chips in the red. Petrochemicals giant ...

 May 28 2015 - Greece likely to miss deal deadline as debt talks stallGulf Times
(MENAFN - Gulf Times) Greece will likely miss a deadline for a deal with creditors by the end of the week as the two sides make little progress in their talks, four international officials familiar ...

 May 28 2015 - Doha Bank launches web-based platform for corporate cash managementGulf Times
(MENAFN - Gulf Times) Doha Bank has broken new grounds in corporate cash management with "Tadbeer" web-based platform.The first integrated cash management software platform in Qatar, "Tadbeer" is ...

 May 28 2015 - Qatargas sells first LNG cargo to JordanGulf Times
(MENAFN - Gulf Times) Qatargas has sold the first cargo of liquefied natural gas (LNG) to Jordan as part of broad-basing its markets across the world.The LNG from Qatar was loaded on-board the ...

 May 28 2015 - Dubai's DAE to expand USD3.7b aircraft leasing portfolioMENAFN
(MENAFN) Dubai Aerospace Enterprise (DAE), the aircraft leasing company, is set to partake in an expansion plan for its present aircraft leasing portfolio, which enjoys a net book value of USD3.7b, ...

 May 28 2015 - GCC national oil firms can face challenges of oil slump: A.T. KearneyGulf Times
(MENAFN - Gulf Times) The depressed oil prices predominant since late last year could herald a lasting trend if, as evidence suggests, we are now facing the low-price segment of oil 'super cycle', ...

 May 28 2015 - Qatari Amro al-Hamad to race MARC cars in Zandvoort 12hrGulf Times
(MENAFN - Gulf Times) This coming weekend the third round of the FIA Endurance Series takes place in the Netherlands in the Zandvoort 12hr. Some 50 GT, touring cars and 24H Specials will be on the ...

more...


 






Google

Internatinal Property Show

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help