Latest ratings reflect bank's financial strength, strong capital and sound asset qualityBahrain and Qatar yesterday launched a new joint venture Islamic insurance company with a paid up capital of $70 million with participation by the entire platform of insurance players in both the countries.
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KUALA LUMPUR: BIMB Holdings Bhd has been given approval by the central bank to start negotiations with Abu Dhabi-Kuwait-Malaysia Strategic Investment Corporation (ADKM) for a strategic stake in Syarikat Takaful Malaysia Bhd (Takaful Malaysia).
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Abu Dhabi: Al Hilal Bank, Abu Dhabi's second Islamic bank, yesterday launched its operations in the UAE with four branches, two in Abu Dhabi, one in Al Ain, and one in Dubai.
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India's designated reinsurer General Insurance Corporation (GIC) is on a drive to expand its global footprint. The public sector company intends to open a representative office first in Brazil in the current financial year and then later in China.
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The Islamic Arab Insurance Company Salama plans to expand its investment portfolio to 25 Shariah-compliant funds by the end of 2008.
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Dubai Group, the financial services unit of the
government-owned investment company Dubai Holding, has launched the
world's largest Islamic reinsurance company with a paid-up capital of
one billion dirhams (272.48 million U.S. dollars), local newspaper Gulf
News reported on Sunday.
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KUALA LUMPUR: Malayan Banking Bhd (Maybank) is exploring setting up an international takaful holding company with Jeddah-based Islamic Corporation for the Development of the Private Sector (ICD).
Continue reading "Maybank, Jeddah’s ICD sign MoU on global takaful business " »
SALAMA Islamic Arab Insurance Company, the world’s largest Takaful and Re-Takaful group, launched its new comprehensive yet affordable range of Individual Family Takaful products in the UAE market. To suit every need and requirement, SALAMA developed a wide range of savings, protection and saving-cum-protection plans for individuals and families.
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KARACHI: The Eastern Federal Union (EFU) has planned to expand its business activities across Asia. EFU Managing Director Saifuddin N Zoomkawala stated this at a programme, organised by the 21st Century.
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Bahrain-based award-winning investment bank Ahli United Bank is setting
up an Islamic insurance company with a paid-up capital of $25 million
and authorized capital of $200 million.
Continue reading "Bahrain bank, British firm in insurance JV" »
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