05/22/2023
Total assets of Islamic banks and windows rise by 10%
The total balance of financing granted by the Sharia-compliant banking entities in Oman engaged in this activity increased by 13.4 percent to reach about OMR5.6 billion.
Islamic Finance
05/19/2023
Islamic banking growth outpaces conventional banks in the UAE
Sector's liquidity supported by wider availability of Islamic instruments compared to most other countries, Fitch Ratings says
05/16/2023
Saudi Arabia selling two-tranche dollar sukuk
The world’s top oil exporter last tapped the public debt markets in January, raising $10 billion with three-tranche conventional bonds.
05/15/2023
Islamic Development Bank Group signs financing deals worth $5.4b
The signed agreements cover the fields of healthcare, agriculture, food security, small and medium enterprises, education, and humanitarian support.
05/15/2023
IsDB Group Private Sector Institutions organized the 11th Edition of the “Private Sector Forum"
Event held in Jeddah, Saudi Arabia from 11-13 May 2023
05/11/2023
UAE’s Islamic Treasury Sukuk oversubscribed 7.6 times, receives bids worth Dh8.3 billion
Final allocation of Dh550m Sukuk for 2-year tranche, and Dh550m for a 3-year tranche
05/09/2023
Bank Nizwa and Buna partner to offer cross-border payments
Bank Nizwa aims to expand its payment capabilities by leveraging Buna’s digital platform.
05/03/2023
Dubai Islamic Bank to acquire 25% stake in Turkey digital bank
The acquisition is subject to regulatory approvals
04/24/2023
UAE Islamic banks’ gross assets rise to $169bn by end of January
The total investments in Islamic banks also witnessed a 20.1 percent year-on-year rise to 106 billion dirhams.
04/19/2023
Sharjah Islamic Bank’s operating profit increased by 32% and net profit by 25% for the first quarter of 2023
Total assets reached Dh60.2 billion at the end of the first quarter
04/11/2023
Interview: Financial fraud, Islamic capital market development are key focus areas: Kuwait CMA head
The CMA has announced the launch of its third strategic plan in continuation with its efforts to develop Kuwait’s financial markets
04/03/2023
Top 5 UAE banks’ combined annual net profit rises to $11.5bn in 2022
The sector is expected to maintain a stable outlook in 2023 driven by growing demand for digital services and industry competitiveness
03/27/2023
Al Busiari Bank to accelerate financial inclusion in Yemen by opting for ICS BANKS Islamic Banking Solution from ICSFS
The bank will be delivering comprehensive open banking platform, Shari’a-compliant microfinancing products and services
03/23/2023
Saudi Arabia’s NDMC closes March sukuk issuance at $897m
Last month, NDCM closed the issuance of SR3.65 billion while the total value of all bids received for February stood at SR3.71 billion.
03/22/2023
Faisal Islamic Bank, set to revolutionize Egypt's digital banking experience with Intellect Global Consumer Banking's CBX Platform
Intellect has won this project with their long-term partner in Egypt, Summit Technology Solutions, who will be jointly working on the implementation.
03/20/2023
Boubyan is named the best in customer service across all economic sectors in Kuwait
And the best in customer service atop all Islamic banks
03/09/2023
Bank of Sharjah set to raise $500 mln with five-year bonds
Abu Dhabi Commercial Bank, Bank ABC, Credit Agricole, Emirates NBD Capital, First Abu Dhabi Bank, JPMorgan and Mashreq are joint lead managers and bookrunners for the debt sale.
03/02/2023
Bahraini Islamic Banking Penetration Solid, to Benefit from Consolidation
Islamic banks’ assets (including Islamic-banking windows available at conventional banks) increased by 7.6% in 2022 – a faster pace than conventional banks’ asset growth of 2%.
02/21/2023
Dubai redeems sukuk worth more than $1bln
The Dubai Government's Debt Management Office (DMO) also prepaid an additional $300 million of sukuk through an early redemption
02/14/2023
Dubai Islamic Bank successfully prices $1bn sustainable sukuk, its second so far
In November last year, DIB priced its inaugural sustainable sukuk, a $750m five-year senior issue with a profit rate of 5.493 per cent per annum