Albaraka Banking Group B.S.C (ABG) held its Ordinary and Extra Ordinary General Meetings recently in Manama, Bahrain.

Leaders, scholars and professionals of the Islamic financial industry met on Saturday 25 Shawwal 1429H (25 October 2008) discussed the escalating effects of the financial crisis and the role of the Islamic industry throughout these troubling times.The forum formed a working group of experts and followed up and monitored implications of the economic crisis affecting Islamic banks and the economies of member countries.

The Department of Public Relations and Information at Dallah Al Barakah Group held its 7TH Annual Executive Forum in the Lebanese capital of Beirut from October 15-19 under the slogan “on track”

Saudi Minister of Finance and Islamic Development Bank Group Governor of Saudi Arabia Dr. Ibrahim Abdulaziz Al-Assaf expressed his appreciation to the IDB Group President Dr. Ahmed Mohamed Ali and all IDB staff on the strength of the Bank’s financial standing amid troubling global financial times surrounding the mortgage crisis in the Untied States of America.

The Islamic Development Bank (IDB) is not affected so far by the financial crisis engulfing the world, declared Dr. Ahmed Mohamed Ali, IDB President during the reception/lunch, which he hosted for the IDB Governors and heads of international and regional financial institutions alongside the annual meeting of the World Bank/IMF in Washington DC.

Sheikh Fahad Bin Mohammad Bin Jabor Al-Thani, Chairman of Board of Directors of Doha Bank, announced Doha Bank’s financial results for the third quarter of the year 2008.Net profit for the third quarter 2008 rose to QR 833.83 million, compared to QR 677.51 million for the same period in 2007, registering an increase of more than 23%. Earnings per share increased to QR 5.03 when compared to QR 4.31 in the corresponding

The event marks the launch of the bank’s high quality services in the Algerian market. Al Salam Bank has previously acquired the license of Algeria’s Money and Credit Council to operate as one of the largest banks in North Africa and to offer its banking services through its headquarters and one branch in the Algerian capital city with a paid up capital of $100m.Al Salam will provide innovative banking services and will play a leading role in the Islamic banking market though availing unique products and solutions designed by experienced specialists in the Islamic banking industry that has been in the forefront of banking businesses in the region.

Bahrain Islamic Bank (BIsB) issued a press release on Tuesday announcing its financial results for the third quarter of this year during which its net profits totaled US$85 million, an increase of 84 percent over its US$46 million net profits during the same period of last year.

AlBaraka Islamic Bank B.S.C (c) (Bahrain) held its annual Ramadan gabgah for its employees which were also attended by the staff of Albaraka Banking Group.

After four days of decline in October, Gulf central banks stepped in to save the local bourses after another day of sharp falls which have seen shares in the UAE alone lose Dhs141bn. Central Bank of the UAE announced that H.E. Sultan Bin Nasser Al Suwaidi travelled to Washington DC and attended the IMF/WB Annual Meetings.

Alsalam Bank Sudan wins ‘’Best bank in Sudan’’ award for 2008 by Global Finance magazine, the American publication, considered as one of the key publications in finance internationally.

Arab Bank has announced the opening of a new branch specialized in Islamic banking services in Hamad Grand Street in Doha, Qatar. The opening of the new branch comes within Arab Bank’s strategy, which entails specific plans to expand in Arab and international markets, amid huge developments these markets are witnessing in term of their structure and the diversity of products.

In accordance with the vision of Husein Mohamed Salem Al Meeza, Vice Chairman towards the social responsibilities of all the financial institutions; Al Salam Bank-Bahrain has donated a total of $2.016m to the Royal Charity Organization in support of university scholarships for distinguished students selected by Royal Charity Organization.