The Dubai Gold & Commodities Exchange (DGCX) and Ayedh Dejem Group, a conglomerate from Saudi Arabia, have agreed to develop and launch the Middle East’s first-ever Sharia compliant Spot Gold contract to be traded on an international exchange. 

The partnership enables both entities to increase their presence in the Saudi Arabian and wider GCC Islamic Finance market, and attract the interest of regional Islamic financial institutions and banks.

RHB Asset Management Sdn Bhd, a wholly-owned subsidiary of RHB Investment Bank Bhd, recently declared income distribution of up to RM8.5 million for 10 conventional and Islamic funds, for the period ended May 31, 2017. 

The fixed income funds are RHB Asian High Yield Fund – AUD, RHB Asian High Yield Fund – USD and RHB Emerging Markets Bond Fund. The equity funds are RHB Singapore Income Feeder Fund – MYR, RHB Singapore Income Feeder Fund – SGD and RHB Dividend Valued Equity Fund, while the balanced funds include RHB Asian Income Fund – SGD and RHB Multi Asset Regular Income Fund. 

Maybank said that its Group loan-to-deposit ratio (LDR) is at a comfortable level of 94.7% as at end March 2017 and not 101% as stated in a Bloomberg report released Friday 11 August 2017.

Maybank Group Chief Financial Officer Datuk Amirul Feisal Wan Zahir said that the news article and the Malaysian banking analyst research report it quoted, did not give a true picture of Maybank’s careful management of its assets and liabilities.