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

Faisal Islamic Bank Egypt reports 30.3% growth in 2021 standalone profit

Revenue rose by 17.3% YoY

Oman c.bank approves due diligence for Sohar Int'l Bank, Bank Nizwa merger

Sohar Bank reported to the Omani bourse on Nov. 23 expressions of interest to combine with Bank Nizwa, subject to regulatory and shareholder approvals.

Egypt completes $3bln loan for green and Islamic financing

The banks that arranged the loan included Emirates NBD and First Abu Dhabi Bank

QIB Profit grows by 16%

Board proposed to distribute 57.5% cash dividends to Shareholders

Qatar International Islamic Bank retains A credit rating from Moody's

The leading Islamic bank’s head said the rating reflects its ability to withstand the COVID-19 pandemic.

Egypt's Abu Dhabi Islamic Bank triples capital of subsidiary ADI-CF

The deal will enable ADI-CF to expand its sharia-compliant financing solutions for Egyptian consumers.

Saudi British Bank launches shariah-compliant green deposit product

Sustainability themes include renewable energy, sustainable water management

Saudi National Bank plans Sukuk denominated in US Dollar

The issuance is under the bank's international sukuk program established by it on Nov. 15, 2021

Promising outlook for global Sukuk market following robust 2021

Sukuk volumes in 2022 are expected to grow and remain a key financing source in core Islamic finance markets, Fitch Ratings says

ADIB Egypt raises capital of its consumer finance company to $1.90mln

The launch of the new company, which represents a paradigm shift in the consumer finance market, reflects ADIB Egypt’s commitment to supporting financial inclusion initiatives

Chimera Capital LLC launches Shariah-compliant exchange traded fund tracking the S&P Saudi Arabia Shariah Index

Chimera S&P KSA Shariah ETF is a distributing share class that will be listed on the Abu Dhabi Securities Exchange (ADX)

Egypt to issue first sovereign sukuk

The state aims to issue green bonds in 2022 with a greater value than those issued last year, Mohamed Hegazy told Asharq News

QIIB chosen ‘Strongest Islamic Retail Bank in Qatar’

The award honours QIIB’s leadership role in Islamic retail banking and the quantum leap made by the bank in this area.

QIB receives two prestigious awards from EMEA Finance

Awarded 'Best Islamic bank in Qatar' for the fifth consecutive year and 'Best product launch in the Middle East' for its Corporate Mobile App

Warba Bank lists $250m sukuk on Nasdaq Dubai

The total value of the Kuwaiti bank’s sukuk on the exchange stands at $898m

Warba Bank celebrates listing of $250mln Tier-1 sukuk on Nasdaq Dubai

This is the third sukuk listing by Warba Bank on Nasdaq Dubai

MIS, Al-Rajhi Capital to launch $266mln Shariah-compliant investment fund

Under the deal, MIS will be the marketer, supplier, executor, and exclusive operator of the fund’s projects

QIB awarded 'Best SME Bank in Qatar'

In recognition of its continuous efforts to provide seamless banking solutions to small and medium enterprises

BisB Congratulates Eman AlBinghadeer for Her Nomination in the WOMANi Awards for the Third Consecutive Year

Mrs Eman AlBinghadeer is the first female Shari'a auditor in the Kingdom of Bahrain and the Gulf region.

Saudi Arabia ends the year with local sukuk issuance of $110.5mln

The issuance comes under the Kingdom’s riyal-denominated sukuk program.

Islamic Finance