AL-SHALL WEEKLY ECONOMIC REPORT

Certainly there are more competent jurists to comment. But what worries us is the legislative approach which is contrary to logic and to the trend of legislation in the civilized world.

The unfair legislations do not stabilize and are not respected. Once they become in force, they cause unwarranted anger in the present circumstances and will drive people to search for means to by pass them. In addition to their political seriousness, they will be added to the growing number of loose laws, while the situation and circumstances require return to dedicating the rule of law. But that will not be achieved unless they are fair laws. Time is still available for amendment as long as the talk is about a bill of regulation.

Warba Bank Financial Results The bank announced results of its business for the first nine months of the current year ending on 30 September 2015, which indicate that the net bank profit -after tax deductionsscored KD 1.3 million vis-‡-vis KD 318 thousand in the same period of 2014. The reason for this profit is due to the rise in total operational incomes by a higher value than the rise in total operational expenses. In details, total operations incomes increased by about KD 3.4 million and scored KD 13.3 million (KD 9.9 million in the same period 2014), due to a rise in the item of net financing incomes by KD 2.2 million to KD 8.6 million (KD 6.4 million). Likewise, item of net fees and commissions rose by KD 1.7 million to KD 2 million (KD 355 thousand). While the item of net investment income declined by KD 524 thousand and scored KD 2.5 million (KD 3 million).

Total operations expenditures rose by less value than the rise in total operations incomes. They increased by KD 1.7 million, or by 21.1%, to KD 10 million (KD 8.2 million in September 2014), due to the rise in all operational expenses components. Percentage of total operations expenditures to total operational incomes scored 75.1% (83.3%). Item of provision for impairment increased by KD 686 thousand, or by 51.8%, and scored KD 2 million (KD 1.3 million the same period last year). This explains the rise in net profit margin before discounting the total provision for impairment to 24.9% (16.7% for the same period last year).