| 
 Mobile Version
  |
  Jobs
Emirates Business24|7
Site last updated at
10:37 PM
The Numbers
Dirham | Pound
5.74
(1.54%)
Dirham | Euro
5.03
(1.37%)
Dubai Index
1660.97
(0.86%)
Search
Quick Links
World News : Left
Right
Send To Friend
Your Name  
Your Email   
 
Friend Name
Friend Email   
 
Message
ADCB to set up Islamic finance unit soon 
(EB FILE)
By
 
Staff Writers  on 5/14/2009 

Abu Dhabi Commercial Bank (ADCB) plans to launch an Islamic finance company with a capital of Dh200 million soon, a bank executive said.

"The Islamic banking unit in ADCB is getting ready to open the Abu Dhabi Commercial Islamic Finance Company soon," said Mofadal Khamry, ADCB's head of Islamic products.

"Due to the large growth prospects of this sector, plans have been set to increase and develop Islamic banking operations during 2009," Khamry said.

The Dh200mn paid up capital has already been fully paid by the founding partners, who, in addition to ADCB, are Abu Dhabi Commercial Properties and Al Dhabi Brokerage Services, both of which are fully-owned subsidiaries of the bank.

 

Keep up with the latest business news from the region with the Emirates Business 24|7 daily newsletter. To subscribe to the newsletter, please click here.

 


 del.icio.usnewsvineFaceBookTailrankGoogle BookmarksDiggredditStumbleUpon
Comments 
Post a Comment
 
 
Comments are subject to editing and are only published after approval.
You will be sent an email when your submission has been posted online.
Please read the website Terms & Conditions.
Related Articles
Downgrades to single-asset developers may affect prices
Low-ranking firms likely to contribute to ongoing price divergence within asset classes.
Identity checks, security at hotels heightened
Dubai hotels and hotel apartments tighten security after the murder of Hamas leader.
Loading
05142009_82a8f2a9-b5c3-4e0b-9fad-7af2ae758d7f 
Feb.09US labor market hopes rise
Feb.09Stock traders co-exist with computers
Feb.09Toyota stops production of two models
11,700 commercial licences were issued in Dubai in 2009 – Business Breakfast, February 9
..............................................
Rhodes talks gold and silver – Business Breakfast, February 9
..............................................
The economic ramifications of Dubai's new oil field – Business Breakfast, February 9
..............................................
more
Graham has been a journalist for over 20 years and writes on residential property for newspapers, magazines, websites and blogs in the UK and across the world. He particularly enjoys writing about property markets and has 10 years experience of
Property power shifting to emerging nations
The wealthiest Chinese are now out in force, and have become a major player in upscale property transactions.
Graham Norwood
An investment race hard to win
Holding an Olympics produces neither a real estate price boom nor a bust for a host city.
Allan Dowd and Nicole Mordant
David Robertson is the business correspondent of The Times of London. He covers strategic industries including defence, aerospace, aviation and natural resources. He is a former investigative news reporter with the Sunday Times in London and has
Honesty is the best policy during crisis
The battering Toyota has received must encourage executives to think carefully about how to handle a crisis in their own organisation.
David Robertson
Loading
Loading
Loading