The emirate’s detailed new standards are expected to provide assurances for sukuk holders and traders.
The Abu Dhabi-company put the increase down to its shares in aviation investee company Aercap.
Jeddah-based Gulf Installments will focus on offering Sharia compliant services to SMEs in Saudi Arabia.
Oman is the last country in the six-nation Gulf Cooperation Council to introduce Islamic banking.
The market rose 9.5 per cent in January, mainly driven by a rise in bank shares.
The lender’s profits rose on lower impairments and increased non interest income.
Earnings from international clients rose four per cent in 2012.
The firm, owned by Saudi billionaire Prince Alwaleed Bin Talal, has formed a sharia board to raise more of its funds through Islamic finance.
Tamweel has been the focus of a full takeover offer by its majority shareholder Dubai Islamic Bank.
ADCB’s fourth quarter profit rose on higher net-interest income and lower provisions.
The lender’s profits were boosted by higher interest income and Islamic financing.
HSBC Bank Oman, formed by a merger of HSBC’s Oman unit and Oman International Bank, made a net profit of OMR5.8 million in 2012.
The investment firm’s net profit rose to $39.2 million for the six months ended December 31, up from $5.2 million in the same period a year ago.
Most of its staff moved to Khalij Islamic, another investment firm with offices in London and Dubai, says sources.
The money will fund the Umm Wual phosphate project at Waad Al-Shimal City.
Banks taking part will also be chosen for future work.
The Dubai index is buoyed by foreign investors buying into the emirate’s economic recovery.
National Bank of Abu Dhabi attributed the profit increase to higher investment and interest income.
The private equity firm said earlier this month that it plans to announce a new deal in early February.
Standard & Poor’s has ranked the state as BBB, as has Fitch while Moody’s ranks it Baa1.
Islamic banks must confront the regulators to grow their products.
The UAE-based lender plans to launch a conventional bond in the coming few days, say sources.
The proposal would be the first time Kuwait has given out financial aid.
The bank earned 447 million riyals in Q4. Analysts had forecast profit of 452.4 million riyals.
The UAE central bank is still holding negotiations with the Emirates Banks Association and no rule has been issued as yet.
Bassel Gamal will be responsible for “all the companies and institutions affiliated to QIB inside Qatar and abroad.”
Speaking at the World Economic Forum, Badr al-Saad fears the decline of the yen.
PwC survey reveals that only 36% of CEOs worldwide are ‘very confident’ of their company’s growth prospects in the next 12 months.
The two-tranche bond includes a $500 million 30-year conventional bond and a $750 million 10-year Islamic bond.
The refinery, which produces 270,000 barrels per day, will be closed for maintenance from April to May.