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26/11/2017 07:32 AST
National Bank of Fujairah (NBF) today announced the completion of a Sharia-compliant bullion financing transaction with Malabar Gold.
This marks the first-ever Sharia-compliant bullion financing in accordance with the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) standards in the precious metals industry in the UAE. The partnership follows the launch of the AAOIFI Sharia Standard on Gold in December 2016 in collaboration with the World Gold Council.
The gold standard sets out the Sharia rules for trading and transacting in the metal whereby the latter joins equities, real estate, Islamic bonds (sukuk) and insurance (takaful) as vehicles approved for Islamic finance.
The standard lays out a clear guidance on the permissibility to trade in gold and makes it possible for Islamic investors to deploy to grow their wealth, diversify their portfolios, and protect them against market risks in a Sharia-compliant manner.
Gulfnews
19/03/2018
National Bank of Fujairah said on Sunday its shareholders approved 15 per cent dividend distribution at the Annual General Assembly Meeting.
This took the form of cash dividends of 7.5 per
Gulf News
14/12/2017
NBF Islamic has once again taken home the coveted accolade titled "Best Islamic Window-UAE" for the second consecutive time at the Islamic Business & Finance Awards 2017.
Prevailing over f
CPI Financial
10/12/2017
National Bank of Fujairah (NBF) has announced that it has joined Nasdaq Dubai's Islamic financing Murabaha platform, which offers unique advantages to financial institutions and clients seeking Shari
Gulf News
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| IHC | 401.50 | -0.10 (-0.03 |
| FAB | 14.34 | -0.12 (-0.83 |
| EMIRATESNBD | 20.80 | 0.05 (0.24 |
| ADCB | 10.72 | -0.86 (-7.43 |
| ADIB | 17.76 | -0.18 (-1.01 |
10/03/2025
Doha Bank introduced a suite of exclusive offers for NRIs on their Visa Platinum Debit Card, delivering exceptional value across travel, lifestyle, dining, and retail. These carefully curated benefit
The Peninsula
10/03/2025
Saudi Awwal Bank has been awarded the Sustainability Program of the Year 2024 at the Capital Markets Forum (CMF), organized by the Saudi Stock Exchange Group (Tadawul).
This achievement make
Saudi Gazette
10/03/2025
Saudi Aramco has lowered its crude oil prices for Asian buyers in April, marking the first reduction in three months. This price cut aligns with market expectations and follows the decision by OPEC+
Arab News
09/03/2025
United Development Company (UDC), the master developer of The Pearl and Gewan Islands, has continued its global track record of accomplishments by securing three new Guinness World Records. This rema
The Peninsula
07/03/2025
Talabat Kuwait has denied rumors of a security breach, assuring customers and partners that all personal and payment information remains fully secure.
In an official statement, Bader Al-Ghan
Trade Arabia
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia