BANKING - Germany for the full path of the Turkish banking sector in Kuwait

www.yenisafak.com.tr - Director General of Kuwait Turkish Horizon Wake up, demand for interest-free banking in the field believe to be an important stage in Germany said, a full application for a banking license. In Frankfurt, Germany, organized by the German banking regulatory and supervisory agency BaFin 2 Involved to make the opening speech of the Conference of Islamic Finance, wake up and practice the basic principles of interest-free banking model mentions the provision of interest-free banking model tested in crisis and who support the real economy and the remarkable success of a system that stands out from being too closely related to speculation, he said.  (source)

BANKING - KFH witnesses noticeable growth in 2010

KUWAIT: Chairman and Managing Director of Kuwait Finance House Badr Al-Mukhaizeem announced during the press conference which was held yesterday at the bank's premises that the profits of the bank reached 80 percent and that they have taken a good amount of provisions to avoid any bad consequences of the settlement of credit.

Al-Mukhaizeem said that the bank had earned revenues from two external real estate projects in KSA about 70 percent where every project is amounting to KD25 million. "We have enough liquidity and we are supporting all our companies in rescheduling their debts", he added. On the other hand he pointed out that the total financing portfolio of the bank is amounting to KD8 billion and 2.8 billion of it was used in local financing. Mohammad Sulaiman Al-Omar, CEO of the bank said that the bank is studying financing projects in France that complies with the laws of the shariaa and had invested in retail projects locally and externally. (full story)

BANKING - Germany's first Islamic bank opens (Kuveyt Turk)

BONN - Kuwait Turkish Participation Bank has opened its first branch in the city of Mannheim, Germany.

Experts four million Muslims living in Germany for at least 15 percent of his money and bank 5 billion Euros in the bank deposits will have yatıracağını estimate.

Operating according to the Islamic bank, games of chance, namely Islam, including pornography, weapons or engage in unlawful counts of commercial jobs.

Currently working as a bank intermediation, the Muslims in Turkey to open a heasabı gives interest-free deposit.