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Uzbekistan s Trustbanks picks ICSFS for Islamic banking launch 4 hours ago
Source: ICSFS Trustbank, one of the leading banks and the first private bank to be providing Islamic banking services in Uzbekistan, has selected ICS BANKS Islamic Banking software solutions from ICS Financial Systems (ICSFS), the global software and services provider for banks and financial institutions. A virtual signing ceremony was conducted on 17th March, 2021, between Trustbank and ICSFS with the participation of ICD (the Islamic Corporation for the Development of the Private Sector). The ceremony was attended by; Deputy Chairman of Trustbank, Kamil Gabbazov, Head of Islamic Financing of Trustbank; Mukhammadfayoz Ibadov, Deputy Director of the International Relations Department of Trustbank; Aleksey Kim. Man
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Bank Muscat reports net profit of OMR47.15 million
By: Times News Times
Muscat: Bank Muscat, the flagship financial institution in the Sultanate, announced its preliminary unaudited results for the three months ended 31 March 2021.
The bank posted a net profit of OMR47.15 million for the period compared to OMR33.25 million reported during the same period in 2020, an increase of 41.8 per cent, mainly due to lower impairment charges.
The key highlights of the results for the period are as follows:
Net Interest Income from Conventional Banking and Net Income from Islamic Financing stood at OMR 83.74 million for the three months period ended 31 March 2021 compared to OMR 81.23 million for the same period in 2020, an increase of 3.1 per cent.
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