Managers of Wealth Middle East -Wealth, private banking and asset management news and opinion

Emirates Islamic debuts $500 million financing facility

Financing facility is the 1st of its kind by a Shariah-compliant financial institution

QIIB awarded highest certification in payment security, data protection

This certification gained momentum and additional importance with the new standard

Islamic Banking’s Evolution: Q&A With Ahli United Bank Group CEO Ahmed Alkharji

Global Finance: Last year, Ahli United Bank [AUB] completed its conversion to an all-Islamic bank. Why did you choose to drop conventional banking?

Bank Nizwa approves cash dividends and Sukuk distribution at its Annual Ordinary and Extraordinary General Meetings

The bank reviewed its performance during the fiscal year ending on December 31, 2023, during which it achieved a strong financial performance

Khaleeji Bank holds its Annual General Meeting

New Board Members Elected

QIB recognized as World’s Best Islamic Retail Bank by The Asian Banker

QIB was awarded the World’s Best Islamic Retail Bank and Best Islamic Retail Bank in Qatar reflecting its exceptional performance

Bank of Sharjah acts as mandated lead arranger in a $800 million credit facility for Investcorp Capital

Transaction gained significant market interest

NBO Muzn Islamic Banking and Ministry of Awqaf simplify Haj Payment through digital innovation

The digitalised payment process enhances the overall experience for both businesses and individual pilgrims by providing a seamless and user-friendly platform

Dhofar Islamic introduces Ladies Account inspiring women’s financial independence

The Ladies Account is a Shari’a compliant savings account (based on Mudarabah principles).

Gulf Islamic Investments acquires a licensed investment and asset management firm in the Kingdom of Saudi Arabia

GII’s fully-fledged investment licence in the Kingdom, under the name Gulf International Investment Company, creates new opportunities to expand its business in the country

KIB earns “Best Customer-Focused Islamic Banking Products and Services in Kuwait” award from World Finance

Winning several titles at the 2023 Islamic Finance Awards

Alinma Bank initiates sale of AT1 sukuk - document

The Islamic lender plans to sell benchmark-sized U.S. dollar-denominated perpetual Additional Tier 1 Capital Certificates through a special purpose vehicle

Dubai Islamic Bank shareholders approve 45% dividend for 2023

With shareholders’ returns always a priority, this record-breaking financial performance led to a 45% cash dividend aggregating to an amount of around AED 3.25 billion

Gulf International Bank reports record financial results

Marking 78% increase in net profit attributable to the shareholders of the bank

Bahraini Islamic Finance industry well-developed

90% of Sukuk Rated ‘B+’

$30mln financing boost for Egyptian SMEs: ICD, Banque Misr sign letter of intent

The agreement marks a continuation of the successful partnership between ICD and Banque Misr, which began in 2017 with a $25mln financing line

Maisarah Islamic Banking Services rebrands to Dhofar Islamic

Nurturing heritage and embracing progress

ADIB advances its banking technologies with ProgressSoft's Payments Hub

Aims to ease the integration of Cross-Border Services and accelerate cross-border remittances

Oman: Assets of Islamic banks and windows up 11.7% to $18.7bln

The total balance of financing granted by units practicing Islamic banking increased by 11.7 percent to reach OMR5.9 billion

Egypt, Islamic Development Bank cooperation portfolio reaches $20.72bn in various fields

The meeting was attended by Mai Babiker, the Director of the Bank’s Regional Office in Cairo