(AETOS Wire)-- In light of recent news regarding the New York branch of Habib Bank Limited (HBL), Habib Bank AG Zurich wishes to clarify that it has no legal or beneficial, direct or indirect affiliation, or shared ownership in HBL, a Pakistan-based financial institution.

Habib Bank AG Zurich was established in 1967 in Switzerland and operates in various global"...

Algeria’s new government will introduce Islamic finance and develop its stock market to draw more investment into the economy as it struggles to cope with a sharp fall in energy earnings, according to an official document.

The measures are part of wider reforms by Prime Minister Ahmed Ouyahia’s government, which also said it plans to start fracking for shale hydrocarbons to boost oil"...

In the recent past, news about various Islamic finance initiatives in Africa made it on the business pages across the world, indicating that the continent is gearing up for a new form of banking. The Economist in a July article even called Africa “Islamic banking’s new frontier,” and the Malaysia International Islamic Finance Centre (MIFC) in June came up with a compact update on the state of Islamic finance in Africa and an outlook on the opportunities it"...