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KUALA LUMPUR: Alkhair International Islamic Bank Malaysia is seeking central bank approval to start talks to acquire a Malaysian bank, its chief executive said on Thursday.

KARACHI: Habib Metropolitan Bank Limited- Islamic banking business net assets surged by 26.93 percent during nine months of the calendar year 2011 (9MCY11).

KARACHI: Pakistan's Islamic banking windows of conventional banks continued to grow during the first nine months of the calendar year 2011 (9MCY11) with improved asset base. Net assets of the Islamic banking windows grew by 31.77 percent and stood at Rs 17.647 billion as on Sep 30, 2011 as against Rs 13.393 billion reported on Dec 31, 2010.

KUALA LUMPUR: Alkhair International Islamic Bank (M) Bhd is in discussion with Bank Negara to get approval to start talking with potential acquisition targets, which will allow Alkhair to tap into the ringgit business in the country.

There are 5 full-fledged Islamic banks operating in Pakistan and 15 conventional banks with Islamic banking branches. The growth in Islamic finance industry has been consistently in double digits. The share of the industry in the banking system has risen to over 7 percent from just 0.5 percent in 2002.

KARACHI: Pakistan's Islamic banking windows of conventional banks continued to grow during the first half of the calendar year 2011 (1HCY11) with improved asset base. Total assets grew by 27.28 percent during the first half as the Islamic banking windows total assets stood at Rs 189.990 billion.

KARACHI: Bank Alfalah Limited Pakistan (BAFL) Islamic business unaudited net assets surged by 13.63 percent during first half of the financial year 2011 (1HFY11) as it reached to Rs 5.473 billion as compared to audited net assets of Rs 4.817 billion on December 31, 2010.

KARACHI: Syed Samar Hasnain, Director, Agricultural Credit & Microfinance Department, State Bank of Pakistan said that the paid up capital requirement set by the central bank for the microfinance banks is high. But it is necessary at the same time to ensure a sound financial system.

SINGAPORE: Oil was headed for a weekly gain on Friday after central banks launched coordinated action to boost European bank funding, easing concern about falling oil demand from industrialised consumers.

KARACHI: Askari Islamic banking business recovered from huge losses reported last year. In current year, it recovered 95.33 percent year on year (YoY) of the losses.

UAE: Dubai Islamic Bank (DIB) announced on Monday the launch of the Al Islami Emerging Cappuccino Certificate, a four-year Islamic certificate backed by Sharia-compliant assets.

DUBAI: Dubai Islamic Bank (DIB) and its unit Tamweel, plans to conduct fixed income roadshows in Asia, Europe and the United Arab Emirates and a potential bond issue guaranteed by the bank may follow, DIB said on Wednesday.

KARACHI: Bank Al Habib Islamic banking branches unaudited net assets surged by 65.08 percent during first half of the financial year 2011 (1HFY11) as it reached to Rs 1.086 billion as compared to audited net assets of Rs 0.657 billion on December 31, 2010.

KARACHI: Bank Islami has announced the financial results for the half year ended on Jun 30, 2011 and showed an immense recovery as compared to last year, according to the notice sent to Karachi Stock Exchange (KSE) on Tuesday.

KARACHI: Dubai Islamic Bank Pakistan Limited (DIBPL) has announced to provide online solution for foreign remittances to its potential customers, according to the press release issued by full fledge Islamic bank on Wednesday.

MUSCAT: Capital Market Authority (CBA) Oman permitted Sarasin-Alpen, the leading Swiss Bank to offer Islamic advisory services in Oman Sultanate.

ISLAMABAD: World Bank has termed the economy of Pakistan, worst in the region which has been plunging down rapidly, said the recent report issued by World Bank.

DJIBOUTI: The Islamic Development Bank loaned Djibouti $8.5 million to help build a residential and commercial center in Djibouti City, the capital.

ISLAMABAD: The negotiations between the government and commercial banks remained successful on Tuesday to resolve the mounting circular debt issue of Rs 400 billion in the power sector of the country.

KARACHI: Government is likely to announce the name of State Banks Governor today as the deadline for appointing a governor of central bank has been expired on Monday.