Qatar Islamic Bank hit by deposit outflow, while profit rises

Qatar Islamic Bank (QIB) was hit by a 6.9 billion riyals ($1.9 billion) deposit outflow in the second quarter, which analysts said could be linked to Qatar’s rift with Saudi Arabia, the United Arab Emirates, Bahrain and Egypt.

Qatar Islamic Bank hit by deposit outflow, while profit rises

Fitch upgrades GFH rating

GFH Financial Group (GFH) announced that Fitch Ratings, the international credit rating agency, has upgraded its long-term Issuer default rating (IDR) from ‘B-‘ to ‘B’ with a positive outlook.

Fitch upgrades GFH Rating

Pakistan sets rules for banks wanting to be fully Shari’ah compliant

Pakistan’s central bank has issued guidelines covering how banks that want to be fully-fledged sharia compliant can achieve that status, setting a three-year time frame for applicants to complete the process.

Pakistan sets rules for banks wanting to be fully Shari’ah compliant