Islamic Business and Finance

Kuwait, GCC central banks cut interest rates following Fed’s decision

The US Federal Reserve officials reduced interest rates by a quarter-percentage point for the third time this year and signalled a pause in further cuts unless the economic outlook changes materially... [Read more]

Lebanese banks limit transfers abroad amid unrest

Lebanon relies on inflows from millions of Lebanese living abroad to keep its lenders stable and defend the dollar peg... [Read more]

Kuwait’s PIFSS approves KFH and Bahrain Ahli United Bank merger

The merger will create the largest banking entity in Kuwait with assets of about $94 billion and the sixth-largest bank in the Gulf region... [Read more]

UAE’s Abu Dhabi Commercial Bank to exit Qatar and Kuwait

The move comes after the bank sold the majority of its banking portfolio in India to DCB Bank... [Read more]

Central Bank of Kuwait approves KFH-AUB merger

The consolidation will create the largest banking entity in Kuwait with assets of about $94 billion and the sixth-largest bank in the Gulf region... [Read more]

BB/B ratings affirmed for Oman; outlook negative

The sharp decline in oil prices between 2014 and 2016, which accounts for 35 per cent of the Sultanate’s GDP,60 per cent of exports and 70 per cent of fiscal receipts, led to a deterioration in Oman's GDP per capita as well as its fiscal as well as external metrics... [Read more]