Business Blog

Islamic Bank of Britain plc (IBB), (www.islamic-bank.com), the UK's only wholly Sharia compliant retail bank, today announced that, subject to formal shareholder approval, it plans to change its name to Al Rayan Bank PLC.

Kuwait Finance House (KFH), the country's biggest Islamic lender, reported a 10% fall in third-quarter net profit on Thursday, in line with analysts' forecasts.

Kuwait Finance House (KFH), the country's biggest Islamic lender, reported a 10% fall in third-quarter net profit on Thursday, in line with analysts' forecasts.

"Across the industry we are seeing an increase in non-Shariah investors across a range of products and investments," Dr Ataf Ahmad, head of asset management at QInvest, told the recently concluded Opalesque Gulf Roundtable in Dubai.

Shares of Malaysia's second-biggest bank CIMB Group Holdings Bhd CIMB.KL dropped on Thursday after local media reported that the Employees Provident Fund (EPF), a key CIMB shareholder, may be forced to cut its stake to push through a planned merger.

Shares of Malaysia's second-biggest bank CIMB Group Holdings Bhd CIMB.KL dropped on Thursday after local media reported that the Employees Provident Fund (EPF), a key CIMB shareholder, may be forced to cut its stake to push through a planned merger.