IslamicFinance.de

Competitions for cash prizes as well as Islamic lectures will be part of the activities at the Sharjah Islamic Bank’s (SIB) Ramadan Tent this year. For the seventh consecutive year, from July 11 to 25, the tent will feature various religious awareness and entertaining programmes as well as engagement activities, delivered by an elite group of Muslim scholars and experts. As part of this year’s programme, SIB has prepared a wide range of cultural activities and competitions titled “Who will encash the cheque”, and allocated several cash and material prizes. There will also be a Quran recitation competition, a “Social Awareness Night”, a children’s night, an Emirati evening with religious singing, an evening dedicated to people with special needs and radio broadcasts on Sharjah Radio.

Mohammed Abdulla, Chief Executive of Sharjah Islamic Bank rang the opening bell at Dubai Financial Market (DFM) to celebrate the listing of a Sukuk issued by Sharjah Islamic Bank (SIB) on NASDAQ Dubai. The listing of SIB's 500 million dollar Sukuk provides further support for the campaign to promote the 'Dubai the Global Center of Sukuk' initiative launched in January 2013. SIB's listing brings the nominal value of Sukuk listed on Dubai exchanges to 12.125 billion dollars. SIB's Sukuk was more than 6 times oversubscribed with 53% of the Sukuk allocated to MENA based investors, 30% allocated to investors based in Asia and 17% to investors based in Europe.

Investors labelled a $500m sukuk from Sharjah Islamic Bank this week as exceptionally tight, but the deal nonetheless drew $3.2bn of orders on Tuesday. The sukuk priced inside the initial guidance range, ending up with a profit rate of 2.95% after the leads mooted low 3% on Monday.

Sharjah Islamic Bank launched the sale of a $500 million sukuk on Tuesday at a profit rate of 2.95 percent. Final pricing is due to follow later on Tuesday. Abu Dhabi's Al Hilal Bank, HSBC Holdings, Kuwait's Liquidity Management House, a unit of Kuwait Finance House , and Standard Chartered Plc are mandated lead arrangers on the sukuk.

Sharjah Islamic Bank (SIB) will issue a $500 million five-year sukuk on Tuesday after strong demand helped the lender to set price guidance at lower end of initial indications. Lead arrangers released official price guidance at 3.125 percent. The sukuk has attracted strong demand, with order books seen over $2 billion at the time official guidance was released. The deal size has been capped at $500 million. Abu Dhabi's Al Hilal Bank, HSBC Holdings, Kuwait's Liquidity Management House, a unit of KFH and Standard Chartered Plc are mandated lead arrangers on the sukuk.

Dubai Islamic Bank, Sharjah Islamic Bank and Abu Dhabi Islamic Bank are more than tripling Bank of Khartoum’s capital to around $225 million after it gained a short-term ‘A-1’ rating from The Islamic International Rating Agency last week. Bank of Khartoum’s General Manager Fadi Faqih said its bank wants to boost its agricultural finance business by preparing a fund to attract direct investment from mainly Gulf banks to invest into Sudan's agricultural sector. Bank of Khartoum also plans to arrange Sukuk for corporate clients in the infrastructure and utility sector for some 150 million pounds this year.

Responsibilities include the following: To perform all financial transactions (cash, cheques & transfer) for individual or corporate customers, in a risk free manner. To investigate differences in books by following the established process of checking reports, notes, denominations etc. To report deviations to concerned authority.

The main function is to create and maintain relations with existing and potential customers,identify and initiate selling and cross selling initiatives and provide ongoing high quality customer service, with the aim of achieving set targets and contributing to the profitability of SIB. To maximize product sales and grow market share to meet the bank\'s targets by meeting customer needs and actively selling, cross-selling retail banking products. Handle general customers’ queries feedback and redirecting them as appropriate to other staff area. Establish, build and maintain relationships with key customers.

Responsibilities include increasing business, deposits and profitability. Managing and guiding the team through well defined objectives and responsibilities to achieve optimum business. Maintaining regular contacts with priority banking customers, thus ensuring that customer attrition is maintained at the minimum. Skills essential for this role are: Knowledge of Arabic & English language. Knowledge and understanding of banking rules, regulations and compliance requirements. Strong interpersonal and relationship management skills.

Responsibilities include profiling existing clients in order to fulfill their banking requirements, identifying and establishing new relationships and maintaining regular interaction with existing Priority Banking customers.

You must achieve and maintain sales targets, negotiate with customers to deliver the most favorable financial terms possible for the Bank, and maintain an ongoing dialogue with customers to ensure that they are aware of all SIB products/services.

In time for the 41st UAE National Day celebrations, seventy Sharjah children will have the opportunity of a 10-day debut display of their artworks. The children are aged between 8 and 18 and attend 13 public and private schools. They are part of the 140 participants at the ongoing media arts seminar-workshops conducted by the FUNN-Sharjah Media Arts for Children and Youth. Since the establishment of FUNN under the patronage of Sheikha Jawaher Bint Mohammed Al Qasimi, children from various school all over the emirate have been taking part in the seminars and workshops on photography, digital arts, filmmaking, animation, and graphic design.

Sharjah Islamic Bank has signed a cooperation agreement with the University Hospital Sharjah to provide financing packages to patients, facilitating payment treatment fees to the University Hospital in convenient installments.
The agreement was signed by Dr Omar Abdul Hamid, Consultant of His Highness Ruler of Sharjah for Higher Education Affairs, and Mohammed Abdullah, CEO of Sharjah Islamic Bank.

Because of the financial and political uncertainty in the region, Noor Islamic Bank does not expect the Islamic bond market to ameliorate for another three years.
Hussain Al Qemzi stated that three years from now the sukuk will come back stronger.
Some companies like Sharjah Islamic Bank and HSBC Middle East were oversubscribed, therefor there was some hope that sukuk will torn around.

Sharjah Islamic Bank announced that its General Assembly has approved the Board of Directors' proposal on distributing a cash dividend of 5.5% of the current capital, equal to Dh133.4 million, to shareholders in accordance with the Central Bank's recent decision regarding dividend distribution.
The announcement was made following the 35th SIB General Assembly, which was held at the Sharjah Chamber of Commerce and Industry on Monday 14 March.

Sharjah Islamic Bank has signed a Memorandum of Understanding (MoU) with the Corporate Leasing Company Egypt (CORPLEASE), to establish a joint venture 'CORPLEASE UAE', a UAE-based company that will provide a plethora of lease facilities.
The ceremony was attended by Mohammed Abdullah, CEO of Sharjah Islamic Bank and Tarek Azmy, Managing Director of CORPLEASE, who signed the MoU on behalf of their respective organisations.

Sharjah Islamic Bank (SIB) has announced the launch of zero per cent profit financing service for Hajj under the theme "Perform Hajj this year and pay it off over the year with no profit".
The service, the first-of-its-kind to be offered by an Islamic bank in the UAE, will enable a lot of people to perform Hajj and pay back the cost via easy and affordable monthly instalments for one year without any profit, fees or extra costs.

Sharjah Islamic Bank has announced that its profits in the third quarter of the current year reached Dhs191.6m. The lender's balance sheet grew since December 2009 with total assets reaching Dhs16.3bn compared with Dhs16.0bn, the bank said. Total liquid assets increased by Dhs410.2m 12.9% to reach Dhs3.6bn.

Sharjah Islamic Bank released that its profits declined 23 % to AED 231.59 mn in 2008, down from AED 301.83 mn in 2007.