Technology

Launch of mega Islamic bank before year-end

SHAIKH SALEH KAMEL, chairman of Al Baraka Banking Group, is set to launch the worlds biggest Islamic bank before the end of the year, with an initial public offering of US$3 billion (Dh11 billion), a top official has said. Adnan Yousuf, CEO of Al Baraka Banking Group, who is also the chairman of the Union of Arab Banks, said: "We have already completed the necessary research for launching the Islamic bank and there are currently discussions between Shaikh Saleh Kamel and investors to prepare for the public offering."

p>SHAIKH SALEH KAMEL, chairman of Al Baraka Banking Group, is set to launch the worlds biggest Islamic bank before the end of the year, with an initial public offering of US$3 billion (Dh11 billion), a top official has said. Adnan Yousuf, CEO of Al Baraka Banking Group, who is also the chairman of the Union of Arab Banks, said: "We have already completed the necessary research for launching the Islamic bank and there are currently discussions between Shaikh Saleh Kamel and investors to prepare for the public offering."

Media Data and Specs

	Arab Emirates Dirham Please Click on the Image to Download a Media Pack
	Euro Please Click on the Image to Download a Media Pack
	GB Pound Please Click on the Image to Download a Media Pack
	US Dollar Please Click on the Image to Download a Media Pack
	Please Click on the image to download our E-Data Sheet

FDI in Sudan reaches US$20 billion

FOREIGN DIRECT INVESTMENT (FDI) in Sudan has increased to US$20 billion, a top official said. "The volume of foreign investments in the country reached more than US$20 billion as of the end of last year," Dr Mustafa Othman Esmail, adviser to the president of Sudan, told Gulf News.

p>FOREIGN DIRECT INVESTMENT (FDI) in Sudan has increased to US$20 billion, a top official said. "The volume of foreign investments in the country reached more than US$20 billion as of the end of last year," Dr Mustafa Othman Esmail, adviser to the president of Sudan, told Gulf News.

Cisco focuses on SMBs

CISCO HAS ANNOUNCED a US$100mn global strategic initiative focused on small business networking and communications solutions for companies with fewer than 100 employees. Cisco aims to help small businesses gain greater agility and efficiency in working with customers who are increasingly expecting to do business on the move, on the Internet and via video. According to research firm IDC, the SMB market in the Middle East will account for more than a third of all IT spending by 2011 and comprises 70 to 80 per cent of businesses in this region.

A co-ordinated security solution for Bahrain

BAHRAINS STRATEGIC LOCATION in the Persian Gulf has allowed it to broaden its cultural perspective and increase its prosperity through trade and travel. Known as Dilmun to the ancient Sumerians, this island nation has interacted with a number of cultures throughout its five thousand-year history including the Babylonians, Assyrians, Greeks, Romans, Persians, Portuguese and British. Today, the kingdom benefits from the immense oil and natural gas fields located throughout the Gulf.