Bahrain’s Albaraka Banking Group (ABG) has seen a surge in its net profit by 62%. The results for the first half of 2008 showed net income increased to $107.98 million in the first half of 2008 compared to $66.79 million for the same period of 2007. https://www.theasianbanker.com/A556C5/Update.nsf/0/53ACD4D79D1A43A9482574C500090C06?Opendocument
Dubai Islamic Bank said it would buy a majority stake in the Industrial Development Bank of Jordan with a view to convert it into an Islamic-compliant institution. The acquisition will take place through a joint venture with Dubai International Capital and Jordan Dubai Capital. The bank would be rebranded as Jordan Dubai Islamic Bank if the deal is finalised.