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Tag Archives: islamic bank

Jordan Islamic Bank profit surge 9% to $16m Q1 0f 2015

AMMAN: Jordan Islamic Bank (JIB), a subsidiary of Bahrain-based Al Baraka Banking Group, has reported nine per cent growth in net profit at $ 16.08 million for the first quarter when compared with $ 14.67m for the first quarter last year. Profits before tax saw a growth of about 14.1pc to $ 23.41m when compared with $ 20.45m earlier. The ... Read More »

Kuveyt Turk Bank preparing to open its German branch on July 1

BERLIN: Kuveyt Turk Bank is preparing to open its German branch on July 1, making it the first sharia-compliant bank in a European country Europe’s first fully-functional Islamic bank will soon open its doors in Frankfurt, offering German’s Muslim population the opportunity to use a bank that complies with sharia law for the first time. The branch, which will operate ... Read More »

Jordan Islamic Bank records 45.1 million dinars profit in 2014

AMMAN: Jordan Islamic Bank reported 2014 net profit of 45.1 million dinars, the same level as the year-ago period. Its assets had risen to 3.86 billion dinars by the end of December 2014, compared with 3.52 billion dinars at end of 2013, an increase of 9.4 percent. The bank, the oldest of the four Islamic banks operating in Jordan and ... Read More »

Turkish lender Kuveyt Turk to launch Germany’s first Islamic bank in July

BERLIN: Turkish lender Kuveyt Turk said it would launch Germany’s first full-fledged Islamic bank in July, a first step intended at offering sharia-compliant retail banking services across the continent. The wholly-owned subsidiary will be called KT Bank AG and use Frankfurt as its base, aiming to tap Europe’s second-largest Muslim community, many of whose members are of Turkish descent. The ... Read More »

Turkish Islamic lender bank Bank Asya records loss of 877 million lira in 2014

ANKARA: Turkish Islamic lender Bank Asya, whose management was taken over by regulators earlier this year, swung to a net loss of 877 million liras ($336 million) in 2014 on shrinking loans and deposits. The bank, in which Turkish banking regulators seized a small stake last week over an alleged illegal share sale, had reported a net profit of 180.6 ... Read More »