The International Islamic Financial Market (IIFM) launched the IIFM interbank unrestricted master investment wakalah agreement at a seminar in Singapore last week.The Bahrain-based international standard-setting body said the global standard document launched under the patronage of the Monetary Authority of Singapore (MAS) is supplemented with an operational guidance memorandum.“This global standard documentation is developed to be used in the Islamic interbank market between financial institutions Read more [...]

FOUR petrolheads have set off on a challenging adventure to drive a 22-year-old four-wheeler across Asia in 90 days. The Bahrain residents are channelling UK's Top Gear trio and will cross rough terrain, treacherous stretch of deserts, tropical forests, mountain ranges and marshlands during their "epic" journey to Beijing. Bill Daly, Charles Daly, Tim Holder and Dirk Fuelner will put the 1991 Land Rover Defender to the ultimate test as they set up camp in six countries. They drove from Bahrain Read more [...]

BAHRAIN's Christians are running out of burial plots and their only functioning cemetery is expected to be full within two years, it has emerged. There are only about 20 burial spaces left at the New Christian Cemetery, in Salmabad, and there is no word on whether additional land will be made available, St Christopher's Cathedral dean The Very Reverend Christopher Butt told the GDN. The graveyard dates back to 1961 and complements the Old Christian Cemetery, which was first established in Gudaibiya Read more [...]

Muscat: Travelex, the world's leading foreign currency specialist, has launched a new money transfer service in the Sultanate of Oman that allows customers to send money directly to international bank accounts.Travelex Money Transfer (TMT), which has proved to be hugely popular since its launch in Bahrain last year, enables customers in Oman to send cash to bank accounts in India, Sri Lanka, and the Philippines within 24 hours for just OMR1.50. Graham Flannery, director of Business Development at Read more [...]