Dome Advisory, an international sharia advisory firm is launching a nationwide search for talented students at UK universities who can come up with a business plan or research idea that will aid the development of Islamic finance.

Bahrain-based regional Islamic investment bank, Venture Capital Bank (VCBank), reported total income of $11.1 million and net profit of $8 million for the quarter ended 31 March 2012 compared with a loss of $2.9 million for the corresponding period in 2011.

The Central Bank of Yemen closed subscription to an Islamic sukuk issue that is part of its Salam program- worth 50 billion Yemeni riyals (USD 234 million)- in April.

Islamic Development Bank (IDB) is seeking partners to bring investment in a Shariah-compliant megabank, as it plans to issue USD 1 billion worth of Islamic bonds or sukuk in June to fund the project, the bank's president Ahmad Mohamed Ali said.

يعتزم بنك دبي الإسلامي إصدار صكوك دولارية بالحجم القياسي الذي لا يقل عن 500 مليون دولار.