Sharjah Islamic Bank (SIB) has launched a Shari’ah compliant commodity Murabahah financing solution for its corporate banking customers, in partnership with Dubai Multi Commodities Centre.
HE Mohammed Abdullah, the CEO of Sharjah Islamic Bank, said, “This cooperation will enable us to improve the quality of our banking services by reducing the time to execute Murabahah transactions by a considerable time.”
Murabahah Financing is one of a preferred mode of short-term financing, as it provides flexible financing options that meet the requirements of the customers, said Abdullah.
“DMCC will continue to work with partners to develop its Shari'ah-compliant financial products and in turn, cement Dubai’s growing reputation as the Islamic Finance capital of the world,” said HE Ahmed bin Sulayem, the Executive Chairman & CEO of DMCC.
MOST READ
BUSINESS
Fed rate cuts add pressure on Saudi banksBUSINESS
ING Groep plans to sell its Turkish unitBUSINESS
Bahrain considers stake sell in oil assetsBUSINESS
SABB seeks to boost corporate lendingBUSINESS
Dubai’s W Motors seeks funds to go electricBUSINESS
HSBC considering exiting from TurkeyBUSINESS
Zimbabwe turns to UAE to sell a stake in...BUSINESS
ADIA plans to sell a $2 billion stake in...BUSINESS
Amanat considers stake in VPS HealthcareBUSINESS
ECI, HSBC partner to support UAE businessesBUSINESS
National Bank of Oman to exit from EgyptBUSINESS
Salt Bae backers seek a partner and a $1...BUSINESS
Oman plans to launch new regional airline
CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.
Loading More post
