close

policy

We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Agree
Disagree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Gender
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

 
 
Latest News

Islamic megabank likely based in Bahrain -Al Baraka CEO

A long-touted $3 billion Islamic megabank is more likely to be established in Bahrain although a final decision has not yet been made, the chief executive of Al Baraka Bank, who also serves as an advisor for the project, told Reuters on Tuesday.

0

August 2, 2011 12:54 by



Adnan Ahmed Yousif said discussions are still on about whether the bank will be domiciled in Bahrain or Qatar and no dates have been finalised to launch the entity.

“While the location of the bank is still under discussion, in all probability it will be based in Bahrain,” Yousif said in an email to Reuters on Tuesday.

The proposed entity will be named Istikhlaf Bank and will be incorporated with an authorized capital of $10 billion and paid up capital of $3 billion, Yousif said.

His remarks came after a Bahraini newspaper report last week that said the Islamic megabank will be set up in Manama.

The report said the announcement would be made formally during the Organisation of Islamic Conference meeting to be held in Qatar in December and the bank would be launched in January.

Bahrain, where the US Fifth Fleet is also based, was rocked by mass pro-democracy protests earlier this year, forcing the government to declare martial law. That was lifted at the start of June.

“It’s all speculation,” said a second source close to the project. “There is no firm date yet however work is in progress on deciding the location and management of the bank.”

The fragmented Islamic finance industry lacks sufficient



Pages: 1 2

0

Tags: , , , ,

Leave a Comment