Category: Finance

FAB

After being granted a license by the Saudi Arabia Monetary Authority (SAMA), the largest lender in the United Arab Emirates, First Abu Dhabi Bank (FAB) is poised to establish a commercial banking business in Saudi Arabia. As part of the

dollar peg

The gulf region’s central bank governors recently confirmed their respective country’s commitment to peg their currencies to the dollar; this while attending a conference in Abu Dhabi. The governor of the Saudi Arabian Monetary Authority, Ahmed Abdulkarim Alkholifey said that

Citi

Citigroup, the American investment banking and financial services multinational company is reporting that it has obtained formal approval from Saudi Arabia’s Capital Market Authority to begin its investment banking business in the Kingdom. Over a dozen foreign banks are now licensed to

zakat

Zakat Fact and Myths

Zakat is the third the pillar of Islam. It literally means to increase. Technically Zakat is intended to purify one’s possession of wealth by distributing a prescribed amount which has to be given to the poor as a fundamental act

Islamic Finance

Islamic Finance is based on the Profit & Loss sharing principle . In other words the parties  collaborate on a venture and share realized profits or split suffered losses. #1.- In Islamic finance, one must work for profits, and simply