Islamic banks’ assets boom 368pc in 3 yrs
Total assets of Islamic banking have recorded an unprecedented climb of 368 per cent to Rs147 billion in the last three years, rising from Rs44 billion in December 2004.
According to a report here on Wednesday, total deposits have also grown by 390 per cent to Rs147 in December 2007, compared to Rs30 billion in 2004. Similarly, Islamic banking financing and investment have surged by 360 per cent, climbing from Rs30 billion in December 2004 to Rs138 billion in December 2007 more... (FD)
Maybank plans stake in Takaful company
Malaysia’s Malayan Banking Bhd, the country’s largest in asset terms, plans to buy a 30 per cent stake in Pak-Kuwait Takaful Company Ltd, the Malaysian lender said on Wednesday more... (D)
Rs 80 per bag increase in cement price in 10 days
With the increase of about Rs 80 in 10 days, the cement prices have gone up from Rs 240 to Rs 320 per bag in the retail market, it is learnt. Market sources said a cement bag was available for Rs 230 at retail level, and in some areas for Rs 235, in the first week of June more... (BR)