Business Blog

Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, has launched a Shari'a-based prepaid card for pilgrims performing Hajj or Umrah in Saudi Arabia.

Competitive pricing, product innovation and deeper liquidity have made Shariah-principled finance increasingly appealing as a funding source in the global financial industry, according to a top official of QInvest.

DUBAI, Sept 24 (Reuters) - Bank of Tokyo-Mitsubishi UFJ MTFGTU.UL (BTMU), Japan&aposs largest lender, will issue Islamic bonds in two tranches under its debut multi-currency sukuk wakala programme in Malaysia, a statement on the Malaysian central bank&aposs website said on Wednesday.BTMU will issue $25 million in a U.S. dollar tranche and 2.5 billion yen ($22.9 million) in a yen tranche on Thursda

Saudi Arabia's Emaar Economic City has secured a 2 billion riyal (USD 533 million) Islamic murabaha loan from Saudi British Bank (SABB), an affiliate of HSBC Holdings, the company said.

Here are some factors that may affect Middle East stock markets on Wednesday. Reuters has not verified the press reports and does not vouch of their accuracy

The National Bank of Abu Dhabi (NBAD) has launched NBAD Shariah MENA Dividend Leader Fund, which invests in select dividend-paying companies traded on the most promising MENA equities markets.