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
 Apr 24 2015 - Pres. Erdogan's talks in Kuwait to focus on bilateral ties upgrade - officialKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Head of Europe Department at the Foreign Ministry Ambassador Waleed Al-Khubaizi said Thursday that the Turkish President Recep Tayyip Erdogan's talks with Kuwaiti ...

 Apr 24 2015 - His Highness Premier congratulates new ALO chiefKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah on Thursday sent a cable of congratulations Kuwait Trade Union Federation (KTUF) ...

 Apr 24 2015 - Egypt won't condone foreign threats to Arab security - Pres. SisiKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Egyptian President Abdelfatah Al-Sisi vowed Thursday that Egypt would not condone any threat to the Arab security and would stand by Arab countries to derail ...

 Apr 24 2015 - Pakistan desires early political solution to Yemen crisis - Foreign OfficeKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Pakistan has said that it desires an early political solution to Yemen crisis, urging the UN and the Organization of Islamic Cooperation (OIC) to take proactive ...

 Apr 24 2015 - EU leaders seek ways to prevent illegal immigration to EuropeKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Leaders of the 28-member European Union began here Thursday afternoon an emergency summit to deal with the illegal immigration crisis after the recent drowning of ...

 Apr 24 2015 - Conf. of diplomatic missions holds evening sessionKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The 8th conference of Kuwaiti diplomatic missions abroad resumed its sessions on Thursday evening in presence of Undersecretary of the Foreign Ministry Khaled ...

 Apr 24 2015 - Brussels Summit to end Med crisis "woefully inadequate" - AmnestyKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Draft Brussels summit proposals are "a woefully inadequate and shameful response" to the crisis in the Mediterranean and will fail to end the spiral of deaths at ...

 Apr 24 2015 - Saudi King meets Pakistan PremierKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Saudi King Salman bin Abdulaziz Al Saud met visiting Pakistani Prime Minister Nawaz Sharif and his accompanying delegation at Al-Ouja Palace here on Thursday.At ...

 Apr 24 2015 - His Highness Amir's Rep. stresses Kuwait's support to Asian-African coop.Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The State of Kuwait has adopted a policy of cooperation, backing dialogue and pushing development efforts for the prosperity of Asian and African countries, said ...

 Apr 24 2015 - Saudi Crown Prince meets Pakistan PremierKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Saudi Crown Prince and Deputy Prime Minister Prince Muqrin bin Abdulaziz Al-Saud met visiting Pakistani Prime Minister Nawaz Sharif and his accompanying ...

more...


 






Google

Click to Apply

 
 

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