The Liquidity Management Centre (LMC) was established for the purpose of facilitating the investment of the surplus funds of Islamic banks and financial institutions into quality short and medium term financial instruments structured in accordance with the Shari'ah principles.
"These results undoubtedly demonstrate the bank's ability to perform in relatively challenging conditions whilst continuing with a conservative approach in the current market environment towards impairment provisioning in line with regulatory requirements," a statement from LMC said.
"The net income achieved was due to astute investment banking activities, specifically opportunistic and perceptive investment returns made from a well-managed portfolio of Sukuk and equities with a diversified and balanced investment approach and fee income earned from bank's advisory services."
Portfolio-based activities grew by around 25 per cent while shareholders' equity rose by more than seven per cent to
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