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

ADIB-Egypt looks back on success in 2020 with unprecedented 10 awards

Global recognition awarded for ADIB-Egypt’s services, initiatives, innovation and customer excellence

KFH Bahrain receives STP Award from J.P. Morgan

The bank has achieved excellent performance and successfully implemented fully automated processes for money transfers

Islamic financing growth to outpace conventional lending in GCC, core Islamic markets in 2021

Bank mergers and consumer demand support Islamic financing assets growth in GCC

Qatar Islamic Insurance Group, SAP Sign Digital Transformation Partnership

The formal contract for a period of three years was signed by QIIG Group President and CEO, Ali Ibrahim Al Abdulghani and Khalid Mannai, Vice Chairman, Executive Committee of Mannai Corporation.

Sohar Islamic completes issuance of Takaful Oman's perpetual sukuk

As the issue managers and financial adviser, Sohar Islamic played a pivotal role in ensuring the successful issuance and completion of the entire activity.

Islamic finance to continue rising in 2021: Moody's

Supportive government policies to drive growth in Islamic banking, sukuk, takaful

Al Baraka Islamic bank announces financial results for the year ended 31 December 2020

Simultaneously, the Bank incorporated provisions against identified and expected losses, aligned with our approved policies, and added BD 8 million (2019: BD 6.55 million) as allowance for impairment during the financial year 2020

HSBC completes its Islamic trade facility in MENAT with QIB

This transaction signals a strong start to the year.”

Dubai Islamic Bank’s net profit drops 38% in 2020 due to increased provisions

Total revenues were AED13.14 billion, compared to AED13.68 billion over the same period the previous year, according to figures.

Signing of an Agency Agreement between Islamic Corporation for the Development of the Private Sector and Islamic Development Bank

ICD is offering its expertise in implementation of R2 “Restore Program” COVID-19 Support in the area of Line of Finance transactions

HSBC completes first Islamic trade facility in Menat at $100m with QIB

The fact that this transaction was first completed in Qatar demonstrates that the country has a number of market leading internationally recognised Islamic financial institutions

Abu Dhabi Islamic Bank posts strong recovery in H2

ADIB demonstrated balance sheet strength ending the year with solid liquidity, funding, and capital ratios.

Takaful market projected to grow $44bn by 2024

He added that Group Insurance scheme is a plan under which persons are collectively insured as members of a group and not as individuals.

Why millennials are likely to drive growth in global Islamic finance

Young Muslims want to know that their money is doing good in the world, says Islamic finance expert

KIB reported KD 64 million operating income for EOY 2020

Growth in assets by 4%

Saudi's Halwani Bros signs Islamic financing deals worth $37.3mln

Al Rajhi Bank facilitates financing to meet working capital requirements of the Saudi-based food manufacturer

Bahrain will continue on development path: minister

Ministry of Finance and National Economy is moving forward to implement all its plans and initiatives

Bonds, Sukuk primary issuances in GCC see value rising to $132.7bln in 2020

The total number of primary issuances during last year totalled 360

Faisal Islamic Bank obtains Mastercard license through Network International partnership

Under the collaboration with Network International, Faisal Islamic Bank will issue Mastercard branded debit, credit and prepaid payment cards in Sudan for online, in-store, and ATM use.

Qatari banks could see more consolidation

This will be the second merger in Qatar between an Islamic bank and a conventional bank after Islamic bank Dukhan and International Bank of Qatar (IBQ) merged in April 2019

Islamic Finance