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

Dubai Islamic Bank, PMRC join hands to promote housing finance

"The Bank holds a significant share in mortgage finance market and this collaboration, will further strengthen our role in this sector”.

Over $400bln required to bridge ‘digital divide’: Saudi-based ISDB chairman

Official calls on governments to help address huge disparities in internet access

QIB named ‘Most Efficient Bank in Middle East and Africa’ in 2021

QIB’s latest results affirmed its position as one of the leading banks in the region.

Muzn Islamic Banking records 24% rise in net profit

With a focus on innovation and digital banking, its 2021 strategy included several new product launches such as the DM Personal Finance and the investment referral program

Sharjah Islamic Bank wins the Dubai Service Excellence Program award

The scheme honours the extraordinary efforts and commitment to adopting best practices and achieving excellence locally and regionally.

Sharjah markets 8-year Islamic bonds

Sharjah's initial price guidance was between 155 and 160 basis points (bps) over seven-year U.S. Treasuries for the sukuk

Oman’s Islamic banking growth to continue despite challenges

Surging public demand and low-base effect propelled the growth.

QIB launches “Flexi CD”, its new flexible certificate of deposits

In addition to offering better expected profit rates, QIB’s new Flexi CD offers customers more flexibility and control

Rising public demand set to drive Islamic banks growth: Bahrain

Islamic banks’ total assets expanded by 8.1pc in 2021, at a faster pace than conventional banks’ total asset growth of 4.2pc.

Abu Dhabi Islamic Bank provides $61 million in financing for green-certified projects in Saudi Arabia

In collaboration with MUFG, Alimna Bank, Riyad Bank, and Siemens Bank, $480 million of green finance has been allocated for three independent sewage treatment plants (ISTP) in Saudi Arabia

Oman’s Islamic Banking on Positive Trajectory

Key structural challenges persist mainly due to the sector’s recent inception in Oman

ADIB-led consortium seals $480m deal to fund green Saudi initiatives

ADIB will contribute $61 million of the total amount in its first-ever financing of green projects in the Kingdom, it said in a statement.

Capital Intelligence reaffirms QIB’s Long Term Rating at A+ with stable outlook

The report also said that QIB’s profitability is strong, and its earnings quality is good, with the Bank posting consistent results.

Capital Intelligence reaffirms QIB’s long term rating at A+ with stable outlook

Capital Intelligence’s Credit Rating Report reaffirmed QIB’s strong franchise and market position, with 49% of total assets of listed Islamic banks in Qatar

Oman’s Islamic banking on positive trajectory

An improving operating environment, expected positive real GDP growth, higher oil prices, the easing of coronavirus restrictions, and the rise in interest or profit rates will also support growth in both Islamic and conventional banking

ADIB General Assembly elects new Board of Directors

Approved cash dividend of 48.5% of net profits for the year 2021

QFC develops sustainable sukuk, bonds framework

The launch of this framework showcases QFC’s commitment to environmental, social, and governance (ESG) while emphasising the growing significance of Islamic finance in sustainable development.

Bahraini Islamic banking sector to grow driven by public demand

Islamic banks’ total assets expanded by 8.1% in 2021, at a faster pace than conventional banks’ total asset growth of 4.2%

Public demand to drive growth in Bahraini Islamic banking sector

According to Fitch Ratings, Islamic banking continues to have significant importance in Bahrain, with its market share rising to 38.8 percent of domestic banking system

Saudi Arabia issues $2.75bln sukuk in March, Kingdom’s debt offices reports

The issuance is divided into two tranches

Islamic Finance