Qatar Is First IsDB Member to Host FIFA World Cup

Qatar has emerged as the first member of the IsDB ever to host a World Cup competition in history. The 2022 edition held in Doha and other cities gulped an expenditure of over US$200bn with state-of-the-art facilities.

The Kingdom's significant natural resources are petroleum and natural gas and have one of the highest per capita incomes in the World.

Al Salam Bank Completes Acquisition of Ithmaar 

According to Islamic Finance news Al Salam Bank has completed its acquisition of Ithmaar Bank's consumer banking business and a selection of other assets in a transaction worth US$2.2 billion, a bourse filing confirmed.  

Ithmaar Bank is a wholly owned subsidiary of Bahrain-based Ithmaar Holding. The transaction also includes the acquisition of a 26.19% stake in Bank of Bahrain and Kuwait, a 55.91% shareholding in Solidarity Group Holding, the owner of Solidarity Bahrain, a 1% interest in The Benefit Company, and other assets, including MasterCard.

COP27: IsDB, Policy Makers Call for Urgent Climate Action 

The IsDB Group and its subsidiaries joined global policymakers in Sharm El Sheikh, Egypt, to call for urgent climate action at the 27th Conference of the Parties (COP27) 2022, at the United Nations climate change conference. 

IsDB Institute also held a series of bilateral meetings with representatives of member countries to discuss technology-enabled data solutions to tackle the climate change crisis, according to a statement. Delegations from Somalia, Senegal and Guinea called for support in developing current data to support the work on climate action.

Analyst Woos Young Investors to Embrace Halal Investments

In a recent conversation on "Opportunities for Investing in the Halal Market," Mr. Abdulazeez Kuranga, a Portfolio Manager/Research Associate with Cordros Capital, urged young investors in Nigeria to tap into the opportunities in the Halal Fixed Income investments 

He said the investments would guarantee capital preservation and diversification of their investment portfolio.