Wednesday, October 04, 2006

Headlines for October 4, 2006

”Kuwait Bank to Sell Hedge Contract”, International Herald Tribune, October 4, 2006

The Kuwait Finance House has begun offering ijara rental swap, a product that allows the customer to convert fixed profit rate into variable rate and vice versa. This provides consumers with a way to hedge their ijara rental contracts against profit rate changes.

”Islamic bank gets Swiss license”, AMEinfo, October 3, 2006

The Swiss Federal Banking Commission has approved the application of Faisal Finance (Switzerland) SA to begin operations as a private bank in Switzerland offering Islamic products. It will be called Faisal Private Bank (Switzerland) S.A.

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