Halal Tamweel

KARACHI: The Halal stocks KMI-30 share index went up by 373.02 points or 1.86 percent during the week.

KUALALUMPUR: Malaysia, Islamic personal loans hovered as customers' utilized telephone for their financing. Al Hadj Azahari Pawan Teh- Chief Operating Officer IDOTTV said, "Loans backed by airtime business currently expanded to 1 million ringgit but this business is expected to expand to 100 million ringgit per day in upcoming year."

KUALA LUMPUR: Banks from Japan to Bahrain plan to set up offices in Malaysia to take advantage of the growth in Islamic finance assets in the world's biggest sukuk market.

JOHANNESBURG: South Africa's Absa Group has acquired Takaful, the only firm offering Islamic insurance in Africa's biggest economy, for an undisclosed amount, Business Day newspaper said on Friday, citing an Absa executive.

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

ISTANBUL: Turkey's Islamic banks could continue their recent strong growth if they can cultivate stronger ties with their international owners and create a sustainable brand image, in Standard & Poor's Ratings Services' view.