Dubai Islamic Bank (DIB) and the Dubai Department of Economic Development (DED) have signed a cooperation agreement to facilitate electronic payment of new trade licence fees, as well as renewed and amended licences through DIB's branches in Dubai. As per the agreement, Dubai Islamic Bank will provide DED with electronic systems services to facilitate the review of banking settlement and also present a weekly detailed report covering all transactions and procedures that took place during the preceding week. DIB also announced that its board of directors meeting will be held tomorrow.
Salama
Islamic insurance company Salama announced its results yesterday. Revenues in 2009 reached Dh1.58 billion after Dh1.33 billion in 2008. Net profit for 2009 was Dh116.2 million after a loss of Dh8.2 million in 2008. The company said it has been awarded a $67 million (Dh246 million) contract to construct a five-star hotel in Damascus.
Gulfnav
The third general assembly meeting and the extraordinary general assembly meeting of Gulf Navigation Holding is scheduled for March 3.
Mazaya
Kuwaiti real estate developer Al Mazaya Holding said yesterday it would add 23.1 million Saudi riyals (Dh293.7 million) of profit from the sale of a property in Saudi Arabia to its first quarter profits.
Qatar Islamic Bank
Qatar Islamic Bank announced a 1.32 billion Qatari riyal (Dh1.33 billion) net profit for the 2009 fiscal year. The profit stemmed mainly from operating revenues and represents a 23 per cent growth rate from 2008. Total equity increased to 9 billion riyals as of December 31.
Qatar National Bank
Qatar National Bank announced yesterday that its ordinary general assembly has approved the bank's audited financial results for the year ended December 31. The general assembly has also ratified the board of directors' proposal to distribute a cash dividend of 40 per cent of the nominal share value.
