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

Kuveyt Türk receives Islamic banking award from int’l institution

“We have implemented many innovations, particularly the basket account, which evaluates the savings in different investment tools and on-site financing services,”

Al Baraka Islamic Bank Receives Double Recognition at the IRBA 2021

The awards also celebrate the Bank's commitment to providing exceptional banking to customers, as well as highlighting the endeavors of the CEO in orchestrating this successful journey.

Social responsibility initiatives in Dubai surpass $816mln in value in 2020, according to IACAD report

The results were announced in an annual report issued by the Department’s charitable work sector

Riyad Bank's board proposes dividend distribution for H2-21

Bank reported a year-on-year (YoY) increase of 19% in net profits

Islamic finance moving beyond GCC

The findings also show that 96 percent of respondents believe philanthropy is important during their lifetimes, with 79 percent already having made significant contributions.

QIB launches first Visa Direct remittance service in Qatar

The new remittance service is designed to simplify QIB customers’ remittance experience allowing them to enjoy near real-time fund transfers to friends and families overseas crediting the fund directly to the recipient’s Visa card.

ADIB provides over AED 1bln in UK commercial real estate financing in 2021

The bank closed two deals in the UK in the month of November alone, taking its UK portfolio to around AED 2.5 billion (£500 million)

SEDCO Capital Announces additional offering to increase the total asset value of SEDCO Capital REIT Fund

Will raise an additional equity up to SAR 575mln consisting of 32.5mln units for the in-kind subscription and 25mln units for the cash subscription

Saudi Real Estate Refinance Company issues SAR 2bln Sukuk, under its existing Sukuk Programme

To increase its support for home ownership in the Kingdom of Saudi Arabia

ADIB's Amwali Youth Bank elevates customers' experiences with chat banking services

Amwali youth banking is gaining traction among young Emiratis with 67% of customers are UAE nationals between the age of 12-16

Stable capital at GCC Islamic banks in 2022: Fitch

We expect further M&A activity in 2022

Takaful insurance to make debut in Iran

Unlike conventional insurance, takaful insured can benefit from a set of claims of the fund in which they have participated, if it remains in excess.

Bahrain's Esterad Investment issues LoI to acquire Venture Capital Bank

The investment company said the letter was non-binding but represents an intention to acquire up to 100 percent of the bank's share capital

Bahrain ranks 4th globally in Islamic Finance

Bahrain also tops the ranking in the region for Islamic banking, and corporate governance.

GIB Saudi Arabia wins Best Islamic Receivable Finance

At the Saudi Trade Finance Awards 2021

QIB Awarded ‘Bank of The Year in Qatar’

he Bank is also the first Islamic Bank in Qatar to launch an integrated Host-to-Host (H2H) Online Payment Management solution for large corporates.

Jersey Finance launches landmark study on the global attitudes to Islamic wealth management

Malaysia is highlighted as one of the most favoured trust jurisdictions alongside Jersey, UK, DIFC (UAE), British Virgin Islands.

Emirates Development Bank lends over Dhs700m to UAE’s industrial sector

The financial package was made available to companies across five sectors – industry, technology, healthcare, food security and infrastructure

National Bank of Bahrain targets a 25% market share: CEO

On cash dividends, he stated that it is among the bank’s priorities if economic conditions are improved.

Saudi Arabia Islamic Finance Market to be Dominated by Islamic Banking through 2026 – TechSci Research

Strong investments for the development of the Halal sector and infrastructure and Sukuk bonds through the electronic modes in all products and services contribute to the market growth.