Mohammed bin Abdulmalik Al al-Sheikh has been appointed as chairman of the Kingdom’s Capital Market Authority
UK authorities have been investigating the bank’s fundraising from Qatar at the height of the 2008 financial crisis since July.
The value of mergers and acquisitions (M&A) deals in the region reached $44.8 billion last year, says new study.
The lender said it recorded healthy growth across its asset and deposit bases last year.
The bank’s profit rose on the back of increased fee and investment income.
The British bank, battling with a series of scandals, has appointed headhunters to find suitable replacements.
The Gulf is set for another bumper year of the sukuk.
Prince Alwaleed Bin Talal tops the Gulf Business list of the most powerful Arabs in the finance sector.
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.