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islamic finance

Islamic Banks' assets up to AED631.7 bn by end of February

May 25, 2023

ABU DHABI, 24th May, 2023 (WAM) -- The assets of UAE-based Sharia-compliant banks grew to AED631.7 billion by the end of February 2023, a YoY growth......

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Pair of Gulf companies to price Islamic bonds on Tuesday

May 24, 2023

DUBAI - Majid Al Futtaim (MAF) and Banque Saudi Fransi plan to price Islamic bonds, or sukuk, on Tuesday, as investor demand and favourable conditions......

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Islamic Development Bank Group signs financing agreements worth USD5.4bn

May 15, 2023

JEDDAH, 14th May, 2023 (WAM) – The Islamic Development Bank (IsDB) Group concluded on Saturday its annual meetings held under the auspices......

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UAE participates in Annual Meetings of Islamic Development Bank Group

May 15, 2023

(WAM) -- Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, headed the UAE delegation participating in the Annual Meetings of the......

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UAE’s Islamic Treasury Sukuk achieves bids worth AED8.3 billion and an oversubscription of 7.6 times-UAE

May 11, 2023

The UAE, represented by the Ministry of Finance (MoF), the issuer, in collaboration with the Central Bank of the UAE (CBUAE), the issuing and paying......

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Dubai Islamic Bank to acquire 25% stake in Turkey digital bank

May 4, 2023

Dubai Islamic Bank, the UAE’s largest Islamic lender, said on Wednesday its board of directors has approved a proposal to acquire 25% stake......

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FTA outlines procedures for VAT recovery on Mosques' construction and operation

May 3, 2023

SHARJAH, 2nd May, 2023 (WAM) -- The Federal Tax Authority (FTA) held a session in collaboration with the Department of Islamic Affairs in Sharjah,......

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UAE-dirham sukuk will support Islamic finance ecosystem, investment options

April 27, 2023

The UAE launched a dirham-denominated Islamic Treasury Sukuk (T-Sukuk), with a benchmark auction size of AED1.1 billion ($299 million) on Wednesday.......

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Dubai-based Islamic insurer Salama’s chairman replaced by former vice chairman

April 26, 2023

Islamic insurer Salama has elected a new chairman after it said it was optimistic despite being “technically insolvent” during 2022.......

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Dubai Islamic Bank posts 12% rise in Q1 profit, beats estimate

April 20, 2023

Dubai Islamic Bank, the UAE’s largest Islamic lender, posted a 12% jump year-on-year (YoY) in its Q1 2023 net profit to 1.5 billion dirhams......

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